Simply Food & Drink Co Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04905015

Simply Food & Drink Co Limited

Filleted Unaudited Financial Statements

30 September 2024

Simply Food & Drink Co Limited

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		51,139	59,286

Current assets

Debtors	6	1,097	300
Cash at bank and in hand		4,352	2,057
		-------	-------
		5,449	2,357

Creditors: amounts falling due within one year	7	( 286,374)		( 267,583)
		---------		---------
Net current liabilities			( 280,925)	( 265,226)
			---------	---------
Total assets less current liabilities			( 229,786)	( 205,940)

Creditors: amounts falling due after more than one year	8		( 25,085)	( 27,742)

Provisions

Taxation including deferred tax	( 2,520)	( 3,361)
	---------	---------
Net liabilities	( 257,391)	( 237,043)
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 257,491)	( 237,143)
	---------	---------
Shareholder deficit	( 257,391)	( 237,043)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Simply Food & Drink Co Limited

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr. E. Aykiran
Director

Company registration number: 04905015

Simply Food & Drink Co Limited

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Devonshire House, 582 Honeypot Lane, Stanmore, HA7 1JS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The director has considered the trading results and performance and is confident that the company will continue to trade for the following twelve months from the date of this report. He has also confirmed that he will continue to support the company over this period.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no significant judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Revenue recognition

Sales of goods are recognised when goods are provided and the title has passed, at the point of cash receipt.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	Over 20 years
Fixtures and fittings	-	25% reducing balance
Motor vehicle	-	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

The company operates a defined contribution scheme for its employees under Auto Enrollment Scheme. Contributions payable are charged to the profit and loss account in the year they are payable.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 5 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 October 2023 and 30 September 2024	74,478	39,212	28,668	142,358
	--------	--------	--------	---------
Depreciation
At 1 October 2023	32,880	37,650	12,542	83,072
Charge for the year	3,724	391	4,032	8,147
	--------	--------	--------	---------
At 30 September 2024	36,604	38,041	16,574	91,219
	--------	--------	--------	---------
Carrying amount
At 30 September 2024	37,874	1,171	12,094	51,139
	--------	--------	--------	---------
At 30 September 2023	41,598	1,562	16,126	59,286
	--------	--------	--------	---------

6. Debtors

	2024	2023
	£	£
Other debtors	1,097	300
	-------	----

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	16,533	17,602
Accruals and deferred income	16,822	9,987
Social security and other taxes	1,407	10,108
Director loan accounts	228,479	229,886
Other creditors	23,133	–
	---------	---------
	286,374	267,583
	---------	---------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	25,085	27,742
	--------	--------