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REGISTERED NUMBER: 07655700 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

EASTERN FINE FOOD LTD

EASTERN FINE FOOD LTD (REGISTERED NUMBER: 07655700)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EASTERN FINE FOOD LTD

Company Information
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr Dogan Merel
Mr Mehmet Merel
Mr Gokhan Merel





REGISTERED OFFICE: 293 Green Lanes
Palmers Green
London
N13 4XS





REGISTERED NUMBER: 07655700 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

EASTERN FINE FOOD LTD (REGISTERED NUMBER: 07655700)

Balance Sheet
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,690 30,187
23,690 30,187

CURRENT ASSETS
Stocks 135,000 55,000
Debtors 6 348,646 347,442
Cash at bank and in hand 74,484 41,230
558,130 443,672
CREDITORS
Amounts falling due within one year 7 301,832 207,665
NET CURRENT ASSETS 256,298 236,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

279,988

266,194

PROVISIONS FOR LIABILITIES 8 3,465 4,620
NET ASSETS 276,523 261,574

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 276,423 261,474
SHAREHOLDERS' FUNDS 276,523 261,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

EASTERN FINE FOOD LTD (REGISTERED NUMBER: 07655700)

Balance Sheet - continued
31 JULY 2023


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2023 and were signed on its behalf by:




Mr Dogan Merel - Director



Mr Gokhan Merel - Director


EASTERN FINE FOOD LTD (REGISTERED NUMBER: 07655700)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Eastern Fine Food Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 year 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.

EASTERN FINE FOOD LTD (REGISTERED NUMBER: 07655700)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 5,000
AMORTISATION
At 1 August 2022
and 31 July 2023 5,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 8,387 53,388 97,172 158,947
DEPRECIATION
At 1 August 2022 2,516 35,809 90,435 128,760
Charge for year 419 4,394 1,684 6,497
At 31 July 2023 2,935 40,203 92,119 135,257
NET BOOK VALUE
At 31 July 2023 5,452 13,185 5,053 23,690
At 31 July 2022 5,871 17,579 6,737 30,187

EASTERN FINE FOOD LTD (REGISTERED NUMBER: 07655700)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023


6. DEBTORS
31.7.23 31.7.22
£    £   
Amounts falling due within one year:
Other debtors 11,696 10,116

Amounts falling due after more than one year:
Other debtors 336,950 337,326

Aggregate amounts 348,646 347,442

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts - 23,654
Trade creditors 264,338 130,825
Taxation and social security 23,616 28,912
Other creditors 13,878 24,274
301,832 207,665

8. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 3,465 4,620

Deferred
tax
£   
Balance at 1 August 2022 4,620
Provided during year (1,155 )
Balance at 31 July 2023 3,465

9. RELATED PARTY DISCLOSURES

Directors are also the directors of MDGS Properties Ltd & MDG Property Ltd. An interest free loan of £46,900 (2022 : £46,900) is given to MDGS Properties Ltd & £290,050 (2022: 290,426l) given to MDG Property Ltd by Eastern Fine Food Ltd.