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REGISTERED NUMBER: 12867797 (England and Wales)















Unaudited Financial Statements

for the Period 9 September 2020 to 30 September 2021

for

SK Foods and Catering Limited

SK Foods and Catering Limited (Registered number: 12867797)

Contents of the Financial Statements
for the Period 9 September 2020 to 30 September 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SK Foods and Catering Limited

Company Information
for the Period 9 September 2020 to 30 September 2021







DIRECTORS: Mr JR Bhatt
Mrs KK Tank





REGISTERED OFFICE: 4 Queen Elizabeth Road
Nuneaton
CV10 9AP





REGISTERED NUMBER: 12867797 (England and Wales)





ACCOUNTANTS: Aequitas
Chartered Accountants
Elthorne Gate
64 High Street
Pinner
HA5 5QA

SK Foods and Catering Limited (Registered number: 12867797)

Balance Sheet
30 September 2021

Notes £    £   
FIXED ASSETS
Intangible assets 4 6,300
Tangible assets 5 18,771
25,071

CURRENT ASSETS
Stocks 6 4,980
Debtors 7 8,564
Cash at bank and in hand 3,446
16,990
CREDITORS
Amounts falling due within one year 8 58,646
NET CURRENT LIABILITIES (41,656 )
TOTAL ASSETS LESS CURRENT LIABILITIES (16,585 )

CREDITORS
Amounts falling due after more than one
year

9

7,389
NET LIABILITIES (23,974 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (24,074 )
(23,974 )

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2021.

The members have not required the Company to obtain an audit of its financial statements for the period ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

SK Foods and Catering Limited (Registered number: 12867797)

Balance Sheet - continued
30 September 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:





Mr JR Bhatt - Director


SK Foods and Catering Limited (Registered number: 12867797)

Notes to the Financial Statements
for the Period 9 September 2020 to 30 September 2021


1. STATUTORY INFORMATION

SK Foods and Catering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£) which is also the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover represents revenue generated from goods and services provided and is recognised at the fair value of the consideration received or receivable for the goods and the services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account of trade discount, settlement discounts and volume rebates.

Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


SK Foods and Catering Limited (Registered number: 12867797)

Notes to the Financial Statements - continued
for the Period 9 September 2020 to 30 September 2021


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Going concern
The company has net current liabilities of (£ 41,656) and net liabilities of (£ 23,974) as at balance sheet date. The directors have agreed to continue to support the company by not recalling the amounts due to them within the 12 months from the date of approval of the accounts and providing additional financial support when necessary.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

SK Foods and Catering Limited (Registered number: 12867797)

Notes to the Financial Statements - continued
for the Period 9 September 2020 to 30 September 2021


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 7,000
At 30 September 2021 7,000
AMORTISATION
Amortisation for period 700
At 30 September 2021 700
NET BOOK VALUE
At 30 September 2021 6,300

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
Additions 5,000 8,000 11,495 24,495
At 30 September 2021 5,000 8,000 11,495 24,495
DEPRECIATION
Charge for period 1,250 1,600 2,874 5,724
At 30 September 2021 1,250 1,600 2,874 5,724
NET BOOK VALUE
At 30 September 2021 3,750 6,400 8,621 18,771

6. STOCKS
£   
Stocks 4,980

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
VAT 2,565
Deferred tax asset 5,624
Prepayments and accrued income 375
8,564

SK Foods and Catering Limited (Registered number: 12867797)

Notes to the Financial Statements - continued
for the Period 9 September 2020 to 30 September 2021


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts 3,613
Taxation and social security 3,154
Other creditors 51,879
58,646

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Hire purchase contracts 7,389

10. SECURED DEBTS

The following secured debts are included within creditors:

£   
Hire purchase contracts 11,002

11. OTHER FINANCIAL COMMITMENTS

As at the balance sheet date, the total financial commitments are £ 11,625. These commitments are for operating lease commitments for rent of the premises.