Ferreira & Simoes Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11210981

Ferreira & Simoes Ltd

Filleted Unaudited Financial Statements

28 February 2025

Ferreira & Simoes Ltd

Statement of Financial Position

28 February 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	5,011	6,690

Current assets

Stocks		10,280	9,235
Debtors	6	190	8,649
Cash at bank and in hand		6,382	2,511
		--------	--------
		16,852	20,395

Creditors: amounts falling due within one year	7	152,767	86,615
		---------	--------
Net current liabilities		135,915	66,220
		---------	--------
Total assets less current liabilities		( 130,904)	( 59,530)

Creditors: amounts falling due after more than one year	8	15,447	10,961
		---------	--------
Net liabilities		( 146,351)	( 70,491)
		---------	--------

Capital and reserves

Called up share capital	200	200
Profit and loss account	( 146,551)	( 70,691)
	---------	--------
Shareholders deficit	( 146,351)	( 70,491)
	---------	--------

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 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have 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 .

Ferreira & Simoes Ltd

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 11 November 2025 , and are signed on behalf of the board by:

Mr J Simoes
Director

Company registration number: 11210981

Ferreira & Simoes Ltd

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Church Street, Wrexham, LL138LS.

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.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Freehold property	-	Written off in full in year
Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 8 ).

5. Tangible assets

	Freehold property	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 March 2024	12,349	12,850	779	25,978
Additions	–	661	–	661
Disposals	–	( 4,082)	–	( 4,082)
	--------	--------	----	--------
At 28 February 2025	12,349	9,429	779	22,557
	--------	--------	----	--------
Depreciation
At 1 March 2024	12,349	6,458	481	19,288
Charge for the year	–	1,197	75	1,272
Disposals	–	( 3,014)	–	( 3,014)
	--------	--------	----	--------
At 28 February 2025	12,349	4,641	556	17,546
	--------	--------	----	--------
Carrying amount
At 28 February 2025	–	4,788	223	5,011
	--------	--------	----	--------
At 29 February 2024	–	6,392	298	6,690
	--------	--------	----	--------

6. Debtors

	2025	2024
	£	£
Other debtors	190	8,649
	----	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	15,231	9,248
Trade creditors	16,031	7,205
Social security and other taxes	86,322	60,690
Other creditors	35,183	9,472
	---------	--------
	152,767	86,615
	---------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	15,447	10,961
	--------	--------

9. Director's advances, credits and guarantees

In the year the directors operated a loan account with the company. At the beginning of the period the amount owed by the directors to the company was £8,429 (2024 £13,870) and at the end of the period the directors were owed £4,831 by the company (2024 £8,429 owed to the company). The loan is interest free and repayable upon demand.