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Company Registration No. 09669833 (England and Wales)
Authentic Indian Restaurants Ltd Unaudited accounts for the year ended 31 July 2023
Authentic Indian Restaurants Ltd Unaudited accounts Contents
Page
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Authentic Indian Restaurants Ltd Company Information for the year ended 31 July 2023
Directors
Dr M Gupta Dr N Gupta S M Jha
Company Number
09669833 (England and Wales)
Registered Office
c/o 127 New Brighton Road Emsworth Hampshire PO10 7TT
Accountants
Babcock Tax & Accountancy Services Ltd The Florins, 8 Lulworth Close Hayling Island Hampshire PO11 0NY
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Authentic Indian Restaurants Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
76,500 
82,875 
Tangible assets
108,401 
126,396 
184,901 
209,271 
Current assets
Inventories
7,625 
18,240 
Debtors
18,730 
15,169 
Cash at bank and in hand
27,687 
72,331 
54,042 
105,740 
Creditors: amounts falling due within one year
(164,456)
(164,393)
Net current liabilities
(110,414)
(58,653)
Total assets less current liabilities
74,487 
150,618 
Creditors: amounts falling due after more than one year
(339,487)
(308,295)
Net liabilities
(265,000)
(157,677)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(265,100)
(157,777)
Shareholders' funds
(265,000)
(157,677)
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by
Dr M Gupta Director Company Registration No. 09669833
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Authentic Indian Restaurants Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Authentic Indian Restaurants Ltd is a private company, limited by shares, registered in England and Wales, registration number 09669833. The registered office is c/o 127 New Brighton Road, Emsworth, Hampshire, PO10 7TT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Short leasehold - in accordance with the property Plant & machinery - 10% on reducing balance Fixtures & fittings - 10% on reducing balance Computer equipment - 33% on reducing balance
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated impairment losses.
Stocks
Stocks have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase & leasing committments
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.
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Authentic Indian Restaurants Ltd Notes to the Accounts for the year ended 31 July 2023
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.
Deferred Tax
Deferred Tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. 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.
Going concern
These financial statements have been prepared on the going concern basis of accounting. At the balance sheet date, the company had net current liabilities. The company is reliant upon the continued support of the directors. No adjustments have been made should the going concern basis of accounting prove to be inappropriate.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2022
127,500 
At 31 July 2023
127,500 
Amortisation
At 1 August 2022
44,625 
Charge for the year
6,375 
At 31 July 2023
51,000 
Net book value
At 31 July 2023
76,500 
At 31 July 2022
82,875 
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Authentic Indian Restaurants Ltd Notes to the Accounts for the year ended 31 July 2023
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 August 2022
5,785 
53,531 
76,654 
22,189 
2,348 
160,507 
Additions
- 
2,080 
- 
671 
- 
2,751 
At 31 July 2023
5,785 
55,611 
76,654 
22,860 
2,348 
163,258 
Depreciation
At 1 August 2022
2,025 
21,074 
1,278 
7,944 
1,790 
34,111 
Charge for the year
289 
3,388 
15,075 
1,436 
558 
20,746 
At 31 July 2023
2,314 
24,462 
16,353 
9,380 
2,348 
54,857 
Net book value
At 31 July 2023
3,471 
31,149 
60,301 
13,480 
- 
108,401 
At 31 July 2022
3,760 
32,457 
75,376 
14,245 
558 
126,396 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
18,730 
15,169 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,882 
3,922 
Trade creditors
36,101 
39,833 
Taxes and social security
45,661 
44,143 
Other creditors
76,812 
76,495 
164,456 
164,393 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
34,314 
42,157 
Other creditors
305,173 
266,138 
339,487 
308,295 
9
Controlling party
The controlling party is Dr M Gupta and Dr N Gupta
10
Average number of employees
During the year the average number of employees was 27 (2022: 34).
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