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REGISTERED NUMBER: 03485514 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

CHANDNI CHOWK LIMITED

CHANDNI CHOWK LIMITED (REGISTERED NUMBER: 03485514)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


CHANDNI CHOWK LIMITED (REGISTERED NUMBER: 03485514)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 41,506 42,970
41,506 42,970

CURRENT ASSETS
Stocks 500,778 507,755
Debtors 6 31,235 6,442
Cash at bank and in hand 110,763 180,054
642,776 694,251
CREDITORS
Amounts falling due within one year 7 483,830 511,644
NET CURRENT ASSETS 158,946 182,607
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,452

225,577

PROVISIONS FOR LIABILITIES 9 5,978 7,414
NET ASSETS 194,474 218,163

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 194,472 218,161
SHAREHOLDERS' FUNDS 194,474 218,163

CHANDNI CHOWK LIMITED (REGISTERED NUMBER: 03485514)

BALANCE SHEET - continued
31 OCTOBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:




Mr P Garrod - Director



Ms R C Price - Director


CHANDNI CHOWK LIMITED (REGISTERED NUMBER: 03485514)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Chandni Chowk Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03485514

Registered office: Grenville House
9 Boutport Street
Barnstaple
Devon
EX31 1TZ

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Purchased goodwill arising on the incorporation of the partnership is capitalised and classified as an asset on the Balance Sheet. The goodwill has now been fully amortised over five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 20% on 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.


CHANDNI CHOWK LIMITED (REGISTERED NUMBER: 03485514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

CHANDNI CHOWK LIMITED (REGISTERED NUMBER: 03485514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 100,000
AMORTISATION
At 1 November 2022
and 31 October 2023 100,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Equipment Totals
£    £    £    £   
COST
At 1 November 2022 172,276 23,995 32,796 229,067
Additions - 7,241 - 7,241
At 31 October 2023 172,276 31,236 32,796 236,308
DEPRECIATION
At 1 November 2022 148,539 10,498 27,060 186,097
Charge for year 2,374 5,184 1,147 8,705
At 31 October 2023 150,913 15,682 28,207 194,802
NET BOOK VALUE
At 31 October 2023 21,363 15,554 4,589 41,506
At 31 October 2022 23,737 13,497 5,736 42,970

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 607 3,981
Other debtors 30,628 2,461
31,235 6,442

CHANDNI CHOWK LIMITED (REGISTERED NUMBER: 03485514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 23,644 36,769
Taxation and social security 20,968 24,493
Other creditors 439,218 450,382
483,830 511,644

HSBC Bank plc registered a debenture charge on 30 November 2004 in which all money and liabilities owed to the bank are secured over the assets of the company.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 70,350 19,500
Between one and five years 204,050 48,000
274,400 67,500

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 5,978 7,414

Deferred
tax
£   
Balance at 1 November 2022 7,414
Credit to Profit and loss account during year (1,436 )
Balance at 31 October 2023 5,978

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

CHANDNI CHOWK LIMITED (REGISTERED NUMBER: 03485514)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


11. RESERVES
Retained
earnings
£   

At 1 November 2022 218,161
Deficit for the year (23,689 )
At 31 October 2023 194,472

12. RELATED PARTY DISCLOSURES

The ultimate controlling party is Mr P Garrod and Ms R C Price.