Registered number
SC465671
Indian Scene Cuisine Ltd
Filleted Accounts
31 December 2021
Indian Scene Cuisine Ltd
Registered number: SC465671
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 84,178 36,679
Current assets
Stocks 5,500 4,600
Cash at bank and in hand 54,837 80,682
60,337 85,282
Creditors: amounts falling due within one year 4 (34,501) (37,870)
Net current assets 25,836 47,412
Total assets less current liabilities 110,014 84,091
Creditors: amounts falling due after more than one year 5 (46,594) (50,000)
Net assets 63,420 34,091
Capital and reserves
Called up share capital 1 1
Profit and loss account 63,419 34,090
Shareholder's funds 63,420 34,091
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Soni Kaur Sanghera
Director
Approved by the board on 17 August 2022
Indian Scene Cuisine Ltd
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property improvements over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 18 8
3 Tangible fixed assets
Property improvements Plant and machinery Total
£ £ £
Cost
At 1 January 2021 32,777 10,518 43,295
Additions 62,000 7,387 69,387
At 31 December 2021 94,777 17,905 112,682
Depreciation
At 1 January 2021 6,557 59 6,616
Charge for the year 18,957 2,931 21,888
At 31 December 2021 25,514 2,990 28,504
Net book value
At 31 December 2021 69,263 14,915 84,178
At 31 December 2020 26,220 10,459 36,679
4 Creditors: amounts falling due within one year 2021 2020
£ £
Taxation and social security costs 34,501 37,867
Other creditors - 3
34,501 37,870
5 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 46,594 50,000
6 Controlling party
The company was under the control of the director during the year.
7 Other information
Indian Scene Cuisine Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
82 Glasgow Road
Paisley
PA1 3PN
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