Free The Taco Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC748045

Free The Taco Ltd

Filleted Unaudited Financial Statements

31 October 2025

Free The Taco Ltd

Financial Statements

Year ended 31 October 2025

Contents	Page

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Free The Taco Ltd

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Free The Taco Ltd

Year ended 31 October 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Free The Taco Ltd for the year ended 31 October 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Free The Taco Ltd. Our work has been undertaken solely to prepare for your approval the financial statements of Free The Taco Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Free The Taco Ltd and its director for our work or for this report.

It is your duty to ensure that Free The Taco Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Free The Taco Ltd. You consider that Free The Taco Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Free The Taco Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

27 July 2026

Free The Taco Ltd

Statement of Financial Position

31 October 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		51,003	50,209

Current assets

Stocks		18,191	16,872
Debtors	6	148,204	51,888
Cash at bank and in hand		53,804	50,962
		---------	---------
		220,199	119,722

Creditors: amounts falling due within one year	7	230,332		170,798
		---------		---------
Net current liabilities			10,133	51,076
			--------	--------
Total assets less current liabilities			40,870	( 867)

Provisions

Taxation including deferred tax	10,816	–
	--------	----
Net assets/(liabilities)	30,054	( 867)
	--------	----

Capital and reserves

Called up share capital	3	3
Profit and loss account	30,051	( 870)
	--------	----
Shareholders funds/(deficit)	30,054	( 867)
	--------	----

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 31 October 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 .

Free The Taco Ltd

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 27 July 2026 , and are signed on behalf of the board by:

Mr D Wade
Director

Company registration number: SC748045

Free The Taco Ltd

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 1 Eagle Street, Glasgow, G4 9XA, Scotland.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investment 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

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. 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:

Motor vehicles	-	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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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

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 26 (2024: 29 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 November 2024	22,373	39,908	62,281
Additions	–	15,102	15,102
	--------	--------	--------
At 31 October 2025	22,373	55,010	77,383
	--------	--------	--------
Depreciation
At 1 November 2024	5,078	6,994	12,072
Charge for the year	4,323	9,985	14,308
	--------	--------	--------
At 31 October 2025	9,401	16,979	26,380
	--------	--------	--------
Carrying amount
At 31 October 2025	12,972	38,031	51,003
	--------	--------	--------
At 31 October 2024	17,295	32,914	50,209
	--------	--------	--------

6. Debtors

	2025	2024
	£	£
Prepayments and accrued income	15,326	11,760
Other debtors	132,878	40,128
	---------	--------
	148,204	51,888
	---------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	18,551
Trade creditors	45,080	43,356
Accruals and deferred income	8,059	5,188
Corporation tax	532	–
Social security and other taxes	140,843	66,391
Other creditors	35,818	37,312
	---------	---------
	230,332	170,798
	---------	---------

8. Operating lease commitments

At the reporting end date the company has outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year: £45,000

Between two and five years: £71,250

Total: £116,250

9. Related party transactions

Included within Other debtors is £129,128 (2024 - £40,128) due from companies under common control. The balances are interest free, unsecured and repayable on demand.

10. Controlling party

The company was not under the control of any one individual.