2022-04-012023-03-312023-03-31false06767338Eastern Cuisine Express 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Eastern Cuisine Express Ltd

Registered Number
06767338
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Eastern Cuisine Express Ltd
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Hang Yee Jenny Kwok
Kin Man Raymond Lee

Registered Address

4 Mason Court Gillan Way
Penrith 40 Business Park
Penrith
CA11 9GR

Place of Business

Unit 1

St Nicholas Industrial Estate

Princess Street

Carlisle

CA1 1TT


Registered Number

06767338 (England and Wales)
Eastern Cuisine Express Ltd
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets84,0005,000
Tangible assets1040,94044,392
44,94049,392
Current assets
Stocks12-272
Cash at bank and on hand1,0835,157
1,0835,429
Creditors amounts falling due within one year14(49,672)(40,496)
Net current assets (liabilities)(48,589)(35,067)
Total assets less current liabilities(3,649)14,325
Provisions for liabilities15(2,806)(3,462)
Net assets(6,455)10,863
Capital and reserves
Called up share capital100100
Profit and loss account(6,555)10,763
Shareholders' funds(6,455)10,863
The financial statements were approved and authorised for issue by the Board of Directors on 16 October 2023, and are signed on its behalf by:
Hang Yee Jenny Kwok
Director
Kin Man Raymond Lee
Director

Registered Company No. 06767338
Eastern Cuisine Express Ltd
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
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).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings15
Vehicles25
Intangible assets policy
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Valuation of financial instruments policy
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in notes. Prepayments are not financial instruments. Cash at bank – is classified as a basic financial instrument and is measured at face value. Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in notes. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
Going concern
The balance sheet indicates a net deficit of £6,455. However, the accounts have been prepared on a going concern basis on the grounds that the directors will continue to meet the day to day expenses of the company and as the largest creditor of the company they have continued to provide these funds to the company since the year end.
5.Critical estimates and judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements (apart from those involving estimations) that management have made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.
6.Sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
7.Employee information

20232022
Average number of employees during the year010
8.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2210,00010,000
At 31 March 2310,00010,000
Amortisation and impairment
At 01 April 225,0005,000
Charge for year1,0001,000
At 31 March 236,0006,000
Net book value
At 31 March 234,0004,000
At 31 March 225,0005,000
9.Useful life of intangible asset
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 10% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
10.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 April 2226,17434,75514,85927,481103,269
At 31 March 2326,17434,75514,85927,481103,269
Depreciation and impairment
At 01 April 22-27,40211,33320,14258,877
Charge for year-1,4708821,1003,452
At 31 March 23-28,87212,21521,24262,329
Net book value
At 31 March 2326,1745,8832,6446,23940,940
At 31 March 2226,1747,3533,5267,33944,392
National Westminster Bank PLC hold a fixed, floating charge over all the property or undertaking of the company. This charge also contains a negative pledge.
11.Provisions for impairment of tangible assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
12.Stocks

2023

2022

££
Raw materials and consumables-272
Total-272
13.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.
14.Creditors within one year

2023

2022

££
Trade creditors / trade payables-935
Taxation and social security-140
Other creditors48,92237,922
Accrued liabilities and deferred income7501,499
Total49,67240,496
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.
15.Provisions for liabilities
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

2023

2022

££
Net deferred tax liability (asset)2,8063,462
Total2,8063,462