The Ivy Kitchen Ltd |
Notes to the Accounts |
for the year ended 30 November 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures, fittings, tools and equipment |
over 10 years |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
10 |
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10 |
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3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 December 2022 |
90,000 |
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At 30 November 2023 |
90,000 |
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Amortisation |
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At 30 November 2023 |
- |
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Net book value |
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At 30 November 2023 |
90,000 |
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At 30 November 2022 |
90,000 |
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Goodwill is being held at cost on the balance sheet. |
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4 |
Tangible fixed assets |
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Fixtures & Fittings |
£ |
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Cost |
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At 1 December 2022 |
63,506 |
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At 30 November 2023 |
63,506 |
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Depreciation |
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At 1 December 2022 |
30,567 |
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Charge for the year |
6,351 |
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At 30 November 2023 |
36,918 |
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Net book value |
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At 30 November 2023 |
26,588 |
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At 30 November 2022 |
32,939 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Taxation and social security costs |
9,441 |
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15,815 |
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Other creditors |
96,865 |
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96,524 |
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106,306 |
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112,339 |
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6 |
Other information |
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The Ivy Kitchen Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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1 The Narrows |
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Harden |
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Bingley |
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BD16 1HY |