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Registered number: 11380567
Noi Dining Ltd.
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11380567
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,850 4,375
Tangible Assets 5 29,831 38,076
33,681 42,451
CURRENT ASSETS
Stocks 6 11,293 7,351
Debtors 7 1,917 -
Cash at bank and in hand 152,010 92,049
165,220 99,400
Creditors: Amounts Falling Due Within One Year 8 (137,040 ) (116,129 )
NET CURRENT ASSETS (LIABILITIES) 28,180 (16,729 )
TOTAL ASSETS LESS CURRENT LIABILITIES 61,861 25,722
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,410 ) -
NET ASSETS 54,451 25,722
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 54,450 25,721
SHAREHOLDERS' FUNDS 54,451 25,722
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Georgina Kemp
Director
12/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Noi Dining Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 11380567 . The registered office is 39 High Street, Tring, Hertfordshire, HP23 5AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Leases. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight Line Basis
Plant & Machinery 25% Straight Line Basis
Fixtures & Fittings 20% Straight Line Basis
Computer Equipment 20% Straight Line Basis
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2022: 13)
18 13
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 5,250
As at 31 December 2023 5,250
Amortisation
As at 1 January 2023 875
Provided during the period 525
As at 31 December 2023 1,400
Net Book Value
As at 31 December 2023 3,850
As at 1 January 2023 4,375
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 31,633 21,792 1,597 1,613 56,635
Additions - 2,437 2,140 274 4,851
As at 31 December 2023 31,633 24,229 3,737 1,887 61,486
Depreciation
As at 1 January 2023 10,541 7,549 442 27 18,559
Provided during the period 6,330 5,846 561 359 13,096
As at 31 December 2023 16,871 13,395 1,003 386 31,655
Net Book Value
As at 31 December 2023 14,762 10,834 2,734 1,501 29,831
As at 1 January 2023 21,092 14,243 1,155 1,586 38,076
Page 4
Page 5
6. Stocks
2023 2022
£ £
Stock 11,293 7,351
7. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 1,917 -
1,917 -
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 14,121 13,197
Corporation tax 24,757 8,748
Other taxes and social security 4,412 2,475
VAT 20,859 10,993
Net wages 4,176 -
Pensions 234 41
Michael & Dorccia Sells Loan Account 67,220 76,075
Accruals and deferred income 1,087 4,427
Director's loan account 174 173
137,040 116,129
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 5