Registered number
06208426
SALIK & CO LTD
Filleted Accounts
31 March 2023
SALIK & CO LTD
Registered number: 06208426
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 104,153 -
Current assets
Debtors 4 858,930 800,930
Investments held as current assets 5 37,405 37,405
Cash at bank and in hand 168 281
896,503 838,616
Creditors: amounts falling due within one year 6 (49,079) (21,146)
Net current assets 847,424 817,470
Total assets less current liabilities 951,577 817,470
Creditors: amounts falling due after more than one year 7 (1,252,038) (1,168,160)
Net liabilities (300,461) (350,690)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (301,461) (351,690)
Shareholder's funds (300,461) (350,690)
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.
Mohammed Abdul Munim
Director
Approved by the board on 15 May 2023
SALIK & CO LTD
Notes to the Accounts
for the year ended 31 March 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.
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:
Motor Vehicle 20% straight line
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Motor vehicles
£
Cost
Additions 115,725
At 31 March 2023 115,725
Depreciation
Charge for the year 11,572
At 31 March 2023 11,572
Net book value
At 31 March 2023 104,153
4 Debtors 2023 2022
£ £
Trade debtors 130,000 534,000
Provn for bad and doubtful debt - (462,000)
Le chef PLC 628,413 628,413
Arta Award Ltd 97,966 97,966
Other debtors 2,551 2,551
858,930 800,930
5 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 37,405 37,405
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 28,933 -
Taxation and social security costs 19,146 19,146
Other creditors 1,000 2,000
49,079 21,146
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 147,196 84,764
Directors current account 976,673 1,021,227
Other creditors 128,169 62,169
1,252,038 1,168,160
8 Other information
SALIK & CO LTD is a private company limited by shares and incorporated in England. Its registered office is:
218a Brick Lane
London
E1 6SA
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