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COMPANY REGISTRATION NUMBER: 07006241
Kosher Deli (Hendon) Limited
Filleted Financial Statements
31 December 2021
Kosher Deli (Hendon) Limited
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Tangible assets
5
44,771
51,677
Current assets
Stocks
10,210
8,200
Debtors
6
85,495
45,447
Cash at bank and in hand
42,034
84,182
---------
---------
137,739
137,829
Creditors: amounts falling due within one year
7
54,619
71,671
---------
---------
Net current assets
83,120
66,158
---------
---------
Total assets less current liabilities
127,891
117,835
---------
---------
Net assets
127,891
117,835
---------
---------
Capital and reserves
Called up share capital
4
4
Profit and loss account
127,887
117,831
---------
---------
Shareholders funds
127,891
117,835
---------
---------
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 15 August 2022 , and are signed on behalf of the board by:
Mr A Bendahan
Director
Company registration number: 07006241
Kosher Deli (Hendon) Limited
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
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.
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:
Leasehold Improvements
-
5% straight line
Plant and machinery
-
20% straight line
Fixtures and fittings
-
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2020: 10 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2021
110,649
43,339
27,282
181,270
Additions
769
769
---------
--------
--------
---------
At 31 December 2021
110,649
43,339
28,051
182,039
---------
--------
--------
---------
Depreciation
At 1 January 2021
66,780
43,337
19,476
129,593
Charge for the year
5,532
2,143
7,675
---------
--------
--------
---------
At 31 December 2021
72,312
43,337
21,619
137,268
---------
--------
--------
---------
Carrying amount
At 31 December 2021
38,337
2
6,432
44,771
---------
--------
--------
---------
At 31 December 2020
43,869
2
7,806
51,677
---------
--------
--------
---------
6. Debtors
2021
2020
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
66,492
21,239
Other debtors
19,003
24,208
--------
--------
85,495
45,447
--------
--------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
44,166
51,334
Trade creditors
9,131
Social security and other taxes
1,632
1,938
Other creditors
8,821
9,268
--------
--------
54,619
71,671
--------
--------
The bank loan is secured by way of a guarantee given by its related undertakings and a charge over the Companys credit balance.
8. Summary audit opinion
The auditor's report for the year dated 15 August 2022 was unqualified.
The senior statutory auditor was Phillip Smulovitch , for and on behalf of GK & Co. LLP .
9. Controlling party
The ultimate parent company is Richtone Developments Ltd, a company incorporated in the British Virgin Islands.