Registered number
08429087
Maveli Restaurant Ltd
Filleted Accounts
31 March 2023
Maveli Restaurant Ltd
Registered number: 08429087
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 5,000 5,000
Tangible assets 4 10,289 12,547
15,289 17,547
Current assets
Stocks 1,200 1,050
Cash at bank and in hand 110,762 146,588
111,962 147,638
Creditors: amounts falling due within one year 5 (86,069) (87,746)
Net current assets 25,893 59,892
Total assets less current liabilities 41,182 77,439
Creditors: amounts falling due after more than one year 6 (32,500) (42,500)
Net assets 8,682 34,939
Capital and reserves
Called up share capital 42 42
Profit and loss account 8,640 34,897
Shareholders' funds 8,682 34,939
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.
Tojo Jos
Director
Approved by the board on 17 July 2023
Maveli Restaurant 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 18% reducing balance method
Fixtures, fittings, tools and equipment 18% reducing balance method
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.
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 18 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 5,000
At 31 March 2023 5,000
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 5,000
At 31 March 2022 5,000
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 12,547
At 31 March 2023 12,547
Depreciation
Charge for the year 2,258
At 31 March 2023 2,258
Net book value
At 31 March 2023 10,289
At 31 March 2022 12,547
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 13,267 30,717
Taxation and social security costs 36,052 20,279
Other creditors 36,750 36,750
86,069 87,746
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,500 42,500
7 Other information
Maveli Restaurant Ltd is a private company limited by shares and incorporated in England. Its registered office is:
223 Glossop Road
Sheffield
S10 2GW
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