Registered number
10416033
Dil Indian Cuisine Limited
Filleted Accounts
31 January 2023
Dil Indian Cuisine Limited
Registered number: 10416033
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 235,317 228,623
Current assets
Stocks 3,600 3,600
Debtors 5 4,854 5,857
Cash at bank and in hand 44,195 57,781
52,649 67,238
Creditors: amounts falling due within one year 6 (121,933) (138,727)
Net current liabilities (69,284) (71,489)
Total assets less current liabilities 166,033 157,134
Creditors: amounts falling due after more than one year 7 (58,591) (74,073)
Provisions for liabilities (1,841) (2,260)
Net assets 105,601 80,801
Capital and reserves
Called up share capital 150 150
Profit and loss account 105,451 80,651
Shareholders' funds 105,601 80,801
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 A Miah
Director
Approved by the board on 20 October 2023
Dil Indian Cuisine Limited
Notes to the Accounts
for the year ended 31 January 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:
Fixtures, fittings, tools and equipment 15% reducing balance
Motor vehicle 25% reducing balance
Investment properties
Investment properties are measured at fair value by the directors at each balance sheet date. Changes in fair value are included in the profit and loss account for the year under review, but classified as undistributable. These changes do not affect the company's taxable profits and losses. Investment properties are not depreciated.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 27,263
At 31 January 2023 27,263
Amortisation
At 1 February 2022 27,263
At 31 January 2023 27,263
Net book value
At 31 January 2023 -
Goodwill has been fully written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Investment property Equipment & fittings Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 211,876 21,812 5,000 238,688
Additions 9,324 - - 9,324
At 31 January 2023 221,200 21,812 5,000 248,012
Depreciation
At 1 February 2022 - 6,251 3,814 10,065
Charge for the year - 2,334 296 2,630
At 31 January 2023 - 8,585 4,110 12,695
Net book value
At 31 January 2023 221,200 13,227 890 235,317
At 31 January 2022 211,876 15,561 1,186 228,623
5 Debtors 2023 2022
£ £
Other debtors 4,854 5,857
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 15,519 15,556
Trade creditors 190 -
Taxation and social security costs 20,804 20,176
Other creditors 85,420 102,995
121,933 138,727
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 58,591 74,073
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 13,182 18,516
Secured bank loans 74,110 89,629
Loans are secured on the company's freehold poperty.
9 Related party transactions
Rent payable by the company of £18000 (2022-£18000), relates to a property personally owned by a director.
10 Transactions with the directors
The company has afforded the directors the use of a current account. Transactions on this account, broadly classified, are summarised below:
2023
£
Balance brought forward-due to the directors 100,512
Undrawn salary 11,879
Mileage credited 3,600
Advances made (19,000)
Private items settled from the company's funds (14,271)
Balance carried forward-due to the directors 82,720
11 Other information
Dil Indian Cuisine Limited is a private company limited by shares and incorporated in Wales. Its registered office is:
66 Whitchurch Road
Cathays
Cardiff
South Glamorgan
CF14 3LX
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