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Registered Number: 12100275


 

 

 

TURAG FOODS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 448   
448   
Current assets      
Stocks 1,450    725 
Debtors 13,000    13,000 
Cash at bank and in hand 31,207    15,471 
45,657    29,196 
Creditors: amount falling due within one year (24,701)   (9,375)
Net current assets 20,956    19,821 
 
Total assets less current liabilities 21,404    19,821 
Creditors: amount falling due after more than one year (38,244)   (43,581)
Net assets (16,840)   (23,760)
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account (16,841)   (23,761)
Shareholder's funds (16,840)   (23,760)
 


For the accounting year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 April 2024 and were signed by:


-------------------------------
Ommay Habiba
Director
1
General Information
TURAG FOODS LIMITED is a private company, limited by shares, registered in England, registration number 12100275, registration address 222 Whitechapel Road, London, E1 1BJ

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Cost of sales
Cost of Sale is measured at the fair value of the consideration paid or payable, excluding discounts, rebates, value added tax and other sale taxes.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
The tax charged on the profit on ordinary activities using applicable standard taxation provisions in use.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2023
£
  2022
£
Wages and salaries 47,805    48,694 
47,805    48,694 
 
Average number of employees during the year Number   Number
Administration 1    1 
Production 3    3 
Sales 1    1 
 

3.

Average number of employees

Average number of employees during the year was 5 (2022 : 5).
4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 August 2022  
Additions 527    527 
Disposals  
At 31 July 2023 527    527 
Depreciation
At 01 August 2022  
Charge for year 79    79 
On disposals  
At 31 July 2023 79    79 
Net book values
Closing balance as at 31 July 2023 448    448 
Opening balance as at 01 August 2022  


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

2