Company registration number 11282583 (England and Wales)
CHARCOAL CONCEPTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
CHARCOAL CONCEPTS LIMITED
COMPANY INFORMATION
Directors
Mr K Kapur
Mrs N Daruwala
Mr V Vangal
Company number
11282583
Registered office
Amba House
15 College Road
Harrow
Middlesex
HA1 1BA
Accountants
KLSA LLP
Kalamu House
11 Coldbath Square
London
EC1R 5HL
CHARCOAL CONCEPTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
CHARCOAL CONCEPTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
612,503
993,763
Current assets
Debtors
5
32,726
46,790
Cash at bank and in hand
131,371
124,148
164,097
170,938
Creditors: amounts falling due within one year
6
(1,000,267)
(563,215)
Net current liabilities
(836,170)
(392,277)
Total assets less current liabilities
(223,667)
601,486
Creditors: amounts falling due after more than one year
7
(35,000)
(35,000)
Net (liabilities)/assets
(258,667)
566,486
Capital and reserves
Called up share capital
8
1,956,500
1,956,500
Profit and loss reserves
(2,215,167)
(1,390,014)
Total equity
(258,667)
566,486

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

CHARCOAL CONCEPTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 September 2023 and are signed on its behalf by:
Mr V Vangal
Director
Company Registration No. 11282583
CHARCOAL CONCEPTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2021
1,456,500
(1,958,527)
(502,027)
Year ended 31 March 2022:
Profit and total comprehensive income
-
568,513
568,513
Issue of share capital
8
500,000
-
500,000
Balance at 31 March 2022
1,956,500
(1,390,014)
566,486
Year ended 31 March 2023:
Loss and total comprehensive income
-
(825,153)
(825,153)
Balance at 31 March 2023
1,956,500
(2,215,167)
(258,667)
CHARCOAL CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

Charcoal Concepts Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amba House, 15 College Road, Harrow, Middlesex, HA1 1BA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources and financial support from the parent company to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Leasehold land and buildings
Over the term of the lease
Leasehold improvements
Over the term of the lease
Fixtures and fittings
25% reducing balance
Computers
15% reducing balance
Crockery
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CHARCOAL CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CHARCOAL CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

CHARCOAL CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
38
34
CHARCOAL CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Crockery
Total
£
£
£
£
Cost
At 1 April 2022
1,049,789
378,622
22,628
1,451,039
Additions
-
0
510
-
0
510
Disposals
(361,999)
(117,342)
-
0
(479,341)
At 31 March 2023
687,790
261,790
22,628
972,208
Depreciation and impairment
At 1 April 2022
254,751
180,124
22,401
457,276
Depreciation charged in the year
48,137
29,616
226
77,979
Eliminated in respect of disposals
(105,919)
(69,631)
-
0
(175,550)
At 31 March 2023
196,969
140,109
22,627
359,705
Carrying amount
At 31 March 2023
490,821
121,681
1
612,503
At 31 March 2022
795,038
198,498
227
993,763
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
32,726
12,463
CHARCOAL CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
5
Debtors
(Continued)
- 9 -
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
-
0
34,327
Total debtors
32,726
46,790

Included in other debtors falling due in more than one year is an amount of £Nil (2022: £34,327) that relates to the refundable deposits of the two business premises which will be refundable on the expiry of the lease.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
223,423
126,194
Taxation and social security
57,902
16,486
Other creditors
718,942
420,535
1,000,267
563,215
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
35,000
35,000
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
644,735
644,735
644,735
644,735
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
1,311,765
1,311,765
1,311,765
1,311,765
Preference shares classified as equity
1,311,765
1,311,765
Total equity share capital
1,956,500
1,956,500
CHARCOAL CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
2,589,863
3,642,904
10
Events after the reporting date

The board has approved entering a Company Voluntary Arrangement (CVA), which was duly approved by creditors and shareholders on 28th June 2023. The Insolvency Practitioners are in the process of releasing the dividend for the claims received.

 

11
Related party transactions

Included in other creditors due within one year is a balance of £633,790 (2022: £333,790) due to the parent company (Kapco Foods PTE).

12
Parent company

The parent company is Kapco Foods PTE Limited, a company incorporated in Singapore.

 

 

 

2023-03-312022-04-01false07 September 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr K KapurMrs N DaruwalaMr V Vangal112825832022-04-012023-03-3111282583bus:Director12022-04-012023-03-3111282583bus:Director22022-04-012023-03-3111282583bus:Director32022-04-012023-03-3111282583bus:RegisteredOffice2022-04-012023-03-31112825832023-03-31112825832022-03-3111282583core:LandBuildings2023-03-3111282583core:OtherPropertyPlantEquipment2023-03-3111282583core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-03-3111282583core:LandBuildings2022-03-3111282583core:OtherPropertyPlantEquipment2022-03-3111282583core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-03-3111282583core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3111282583core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3111282583core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3111282583core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3111282583core:CurrentFinancialInstruments2023-03-3111282583core:CurrentFinancialInstruments2022-03-3111282583core:ShareCapital2023-03-3111282583core:ShareCapital2022-03-3111282583core:RetainedEarningsAccumulatedLosses2023-03-3111282583core:RetainedEarningsAccumulatedLosses2022-03-3111282583core:ShareCapital2021-03-3111282583core:RetainedEarningsAccumulatedLosses2021-03-3111282583core:RetainedEarningsAccumulatedLosses2021-04-012022-03-31112825832021-04-012022-03-3111282583core:RetainedEarningsAccumulatedLosses2022-04-012023-03-3111282583core:ShareCapital2021-04-012022-03-3111282583core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-04-012023-03-3111282583core:LeaseholdImprovementscore:LeasedAssetsHeldAsLessee2022-04-012023-03-3111282583core:FurnitureFittings2022-04-012023-03-3111282583core:ComputerEquipment2022-04-012023-03-3111282583core:LandBuildings2022-03-3111282583core:OtherPropertyPlantEquipment2022-03-3111282583core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-03-31112825832022-03-3111282583core:LandBuildings2022-04-012023-03-3111282583core:OtherPropertyPlantEquipment2022-04-012023-03-3111282583core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-04-012023-03-3111282583core:WithinOneYear2023-03-3111282583core:WithinOneYear2022-03-3111282583core:AfterOneYear2023-03-3111282583core:AfterOneYear2022-03-3111282583core:Non-currentFinancialInstruments2023-03-3111282583core:Non-currentFinancialInstruments2022-03-3111282583bus:PrivateLimitedCompanyLtd2022-04-012023-03-3111282583bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3111282583bus:FRS1022022-04-012023-03-3111282583bus:AuditExemptWithAccountantsReport2022-04-012023-03-3111282583bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP