Registered number
11975863
Vegan Culinary Arts Ltd
Filleted Accounts
31 July 2023
Vegan Culinary Arts Ltd
Registered number: 11975863
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 67,600 80,700
Tangible assets 4 41,289 48,575
Investments 5 40 -
108,929 129,275
Current assets
Stocks - 4,908
Debtors 6 - 1,952
Cash at bank and in hand 16,609 6,196
16,609 13,056
Creditors: amounts falling due within one year 7 (118,925) (185,609)
Net current liabilities (102,316) (172,553)
Total assets less current liabilities 6,613 (43,278)
Creditors: amounts falling due after more than one year 8 (42,180) (40,921)
Net liabilities (35,567) (84,199)
Capital and reserves
Called up share capital 100 100
Profit and loss account (35,667) (84,299)
Shareholders' funds (35,567) (84,199)
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.
R Lawrence
Director
Approved by the board on 24 November 2023
Vegan Culinary Arts Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
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:
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 120,000
At 31 July 2023 120,000
Amortisation
At 1 August 2022 39,300
Provided during the year 13,100
At 31 July 2023 52,400
Net book value
At 31 July 2023 67,600
At 31 July 2022 80,700
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 76,597
At 31 July 2023 76,597
Depreciation
At 1 August 2022 28,022
Charge for the year 7,286
At 31 July 2023 35,308
Net book value
At 31 July 2023 41,289
At 31 July 2022 48,575
5 Investments
Investments in
subsidiary
undertakings
£
Cost
Additions 40
At 31 July 2023 40
6 Debtors 2023 2022
£ £
Other debtors - 1,952
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 65 1,564
Taxation and social security costs 2,032 10,744
Other creditors 116,828 173,301
118,925 185,609
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 42,180 40,921
9 Other information
Vegan Culinary Arts Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14 Lime Trees
Christian Malford
Chippenham
Wilts
SN15 4BN
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