Registered number
10206921
MELBOURNE CITY TAKEAWAY LTD
Filleted Accounts
31 May 2023
JR HEUNG & CO
Chartered Certified Accountants
38 Greenway
Totteridge
LONDON
N20 8ED
1118-23
MELBOURNE CITY TAKEAWAY LTD
Registered number: 10206921
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,500 2,000
Tangible assets 4 9,035 11,810
10,535 13,810
Current assets
Stocks 2,540 3,280
Debtors 5 9,000 9,000
Cash at bank and in hand 6,593 7,152
18,133 19,432
Creditors: amounts falling due within one year 6 (12,210) (10,108)
Net current assets 5,923 9,324
Total assets less current liabilities 16,458 23,134
Provisions for liabilities (292) (517)
Net assets 16,166 22,617
Capital and reserves
Called up share capital 1 1
Profit and loss account 16,165 22,616
Shareholder's funds 16,166 22,617
The director is 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 director acknowledges his 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.
Mr. C C Leong
Director
Approved by the board on 3 October 2023
MELBOURNE CITY TAKEAWAY LTD
Notes to the Accounts
for the year ended 31 May 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Lease over 10 years
Fixtures, fittings and equipment 25% pa. on written down value
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 5,000
At 31 May 2023 5,000
Amortisation
At 1 June 2022 3,000
Provided during the year 500
At 31 May 2023 3,500
Net book value
At 31 May 2023 1,500
At 31 May 2022 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Lease Fixtures, Fittings & Equipment Total
£ £ £
Cost
At 1 June 2022 25,000 9,237 34,237
Additions - 633 633
At 31 May 2023 25,000 9,870 34,870
Depreciation
At 1 June 2022 15,000 7,427 22,427
Charge for the year 2,500 908 3,408
At 31 May 2023 17,500 8,335 25,835
Net book value
At 31 May 2023 7,500 1,535 9,035
At 31 May 2022 10,000 1,810 11,810
5 Debtors 2023 2022
£ £
Other debtors 9,000 9,000
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 8,872 8,383
Other creditors 3,338 1,725
12,210 10,108
7 Controlling party
The company is controlled by C C Leong by virtue of having ownership of 100% of the issued share capital in the company.
8 Other information
MELBOURNE CITY TAKEAWAY LTD is a private company limited by shares and incorporated in England. Its registered office is:
49 KINGSTON HILL
KINGSTON UPON THAMES
KT2 7PS
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