2022-01-202023-01-312023-01-31falseSC720490ASIAN FLAVOURS NEWCASTLE 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ASIAN FLAVOURS NEWCASTLE LTD

Registered Number
SC720490
(Scotland)

Unaudited Financial Statements for the Period ended
31 January 2023

ASIAN FLAVOURS NEWCASTLE LTD
Company Information
for the period from 20 January 2022 to 31 January 2023

Directors

RASUL, Muniba
RASUL, Sharaz Amer

Registered Address

70 Glasgow Street
Dumfries
DG2 9AQ

Place of Business

55 Grainger Street

Newcastle upon Tyne

England

NE1 5JE


Registered Number

SC720490 (Scotland)
ASIAN FLAVOURS NEWCASTLE LTD
Balance Sheet as at
31 January 2023

Notes

2023

£

£

Fixed assets
Intangible assets623,542
Tangible assets7161,612
185,154
Current assets
Debtors10106,868
106,868
Creditors amounts falling due within one year11(195,951)
Net current assets (liabilities)(89,083)
Total assets less current liabilities96,071
Creditors amounts falling due after one year12(112,953)
Net assets(16,882)
Capital and reserves
Called up share capital100
Profit and loss account(16,982)
Shareholders' funds(16,882)
The financial statements were approved and authorised for issue by the Board of Directors on 19 October 2023, and are signed on its behalf by:
RASUL, Muniba
Director
RASUL, Sharaz Amer
Director

Registered Company No. SC720490
ASIAN FLAVOURS NEWCASTLE LTD
Notes to the Financial Statements
for the period ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. 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.
Turnover policy
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.
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 (%)Straight line (years)
Land and buildings-10
Plant and machinery25-
Fixtures and fittings-10
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets is amortized over 10 useful years.
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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
5.Employee information

2023
Average number of employees during the year0
6.Intangible assets

Other

Total

££
Cost or valuation
Additions25,00025,000
At 31 January 2325,00025,000
Amortisation and impairment
Charge for year1,4581,458
At 31 January 231,4581,458
Net book value
At 31 January 2323,54223,542
At 19 January 22--
7.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
Additions22,55415,695126,000164,249
At 31 January 2322,55415,695126,000164,249
Depreciation and impairment
Charge for year1,587-1,0502,637
At 31 January 231,587-1,0502,637
Net book value
At 31 January 2320,96715,695124,950161,612
At 19 January 22----
8.Description of nature of transactions and balances with related parties
At the year-end, Amounts owed by/(to) group undertakings balance includes £1,210 due from Sub DG One Ltd and £9,150 due from Chilli 786 Ltd and £13,000 due from Sub A1 Ltd and £37,500 due from Asian Flavours Edinburgh Ltd and £100 due from GR Group Investments Ltd, where Sharaz Amer Rasul is also a director of those companies. At the year-end, other debtor balance includes £1,520 due from Sub 786 Ltd T/as Fat Pizza where Muniba Rasul and Sharaz Amer Rasul are also directors of the company.
9.Directors advances, credits and guarantees
Other creditors include an amount of £115,290 relating to the directors' loan account Mr. S A Rasul and Mrs. M Rasul.
10.Debtors

2023

£
Amounts owed by group undertakings60,960
Other debtors45,672
Prepayments and accrued income236
Total106,868
11.Creditors within one year

2023

£
Trade creditors / trade payables3,414
Bank borrowings and overdrafts32,272
Other creditors159,265
Accrued liabilities and deferred income1,000
Total195,951
12.Creditors after one year

2023

£
Bank borrowings and overdrafts112,953
Total112,953
13.Provisions for liabilities