COMPANY REGISTRATION NUMBER:
12997691
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
30 November 2024
Fixed assets
|
Tangible assets |
4 |
|
425,388 |
|
– |
|
|
|
|
|
|
Current assets
|
Debtors |
5 |
– |
|
180 |
|
|
Cash at bank and in hand |
6,175 |
|
– |
|
|
------- |
|
---- |
|
|
6,175 |
|
180 |
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
432,795 |
|
30 |
|
|
--------- |
|
---- |
|
|
Net current (liabilities)/assets |
|
(
426,620) |
|
150 |
|
|
--------- |
|
---- |
|
Total assets less current liabilities |
|
(
1,232) |
|
150 |
|
|
------- |
|
---- |
|
Net (liabilities)/assets |
|
(
1,232) |
|
150 |
|
|
------- |
|
---- |
|
|
|
|
|
|
Capital and reserves
|
Called up share capital |
7 |
|
150 |
|
150 |
|
Profit and loss account |
|
(
1,382) |
|
– |
|
|
------- |
|
---- |
|
Shareholders (deficit)/funds |
|
(
1,232) |
|
150 |
|
|
------- |
|
---- |
|
|
|
|
|
|
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 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
|
30 November 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 November 2025
, and are signed on behalf of the board by:
Company registration number:
12997691
|
Notes to the Financial Statements |
|
Year ended 30 November 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 1 Fawdry Street, Smethwick, B66 2SD.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
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.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
|
Freehold property |
|
£ |
|
Cost |
|
|
At 1 December 2023 |
– |
|
Additions |
425,388 |
|
--------- |
|
At 30 November 2024 |
425,388 |
|
--------- |
|
Depreciation |
|
|
At 1 December 2023 and 30 November 2024 |
– |
|
--------- |
|
Carrying amount |
|
|
At 30 November 2024 |
425,388 |
|
--------- |
|
At 30 November 2023 |
– |
|
--------- |
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
– |
180 |
|
---- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
431,388 |
– |
|
Other creditors |
1,407 |
30 |
|
--------- |
---- |
|
432,795 |
30 |
|
--------- |
---- |
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
150 |
150 |
150 |
150 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
8.
Directors' advances, credits and guarantees
At the year end the directors were owed by the company £567 (£30 - 2023). The loan is interest-free but repayable on demand.
9.
Related party transactions
Included within other creditors is an amount due of £431,388 to an associated Company, H.Q. Foods (B'ham) Limited. The directors and shareholders are common in both Companies.