Company registration number 12439824 (England and Wales)
SPICE INN ATHERSTONE T/A HERBS & SPICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
SPICE INN ATHERSTONE T/A HERBS & SPICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SPICE INN ATHERSTONE T/A HERBS & SPICES LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,223
13,813
Current assets
Stocks
2,956
2,868
Debtors
4
11,338
6,374
Cash at bank and in hand
138
947
14,432
10,189
Creditors: amounts falling due within one year
5
(27,748)
(13,442)
Net current liabilities
(13,316)
(3,253)
Total assets less current liabilities
(2,093)
10,560
Creditors: amounts falling due after more than one year
6
(12,059)
(16,247)
Net liabilities
(14,152)
(5,687)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(14,153)
(5,688)
Total equity
(14,152)
(5,687)

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

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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.

The financial statements were approved and signed by the director and authorised for issue on 30 September 2023
Khondokar Ahmed
Director
Company Registration No. 12439824
SPICE INN ATHERSTONE T/A HERBS & SPICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information

Spice Inn Atherstone T/A Herbs & Spices Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 21 Long Street, Atherstone, CV9 1AY.

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

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues 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.

 

 

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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
18% on reducing balance
Motor vehicles
20% on reducing balance

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
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Government grants

Government small business support grant and bounce back loan interest grant were received in the previous year and recognised in other operating income.

SPICE INN ATHERSTONE T/A HERBS & SPICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
2
Employees

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

2023
2022
Number
Number
Total
4
4
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
12,810
6,500
19,310
Depreciation and impairment
At 1 March 2022
4,197
1,300
5,497
Depreciation charged in the year
1,550
1,040
2,590
At 28 February 2023
5,747
2,340
8,087
Carrying amount
At 28 February 2023
7,063
4,160
11,223
At 28 February 2022
8,613
5,200
13,813
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,476
1,683
Other debtors
9,862
4,691
11,338
6,374
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
4,980
5,398
Trade creditors
4,551
777
Taxation and social security
14,756
5,566
Other creditors
3,461
1,701
27,748
13,442
SPICE INN ATHERSTONE T/A HERBS & SPICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
12,059
16,247
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Khondokar Ahmed
-
4,691
4,786
9,477
4,691
4,786
9,477

The loan is unsecured, interest free and repayable on demand.

8
Ultimate Controlling Party

The ultimate controlling party is Khondokar Ahmed.

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