2022-07-012023-06-302023-06-30false11273642METALI RESTAURANT 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METALI RESTAURANT LTD

Registered Number
11273642
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

METALI RESTAURANT LTD
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

Mohammed Abdul Chohid Ahad

Registered Address

21 West Castle Street
Bridgnorth
WV16 4AB

Place of Business


Registered Number

11273642 (England and Wales)
METALI RESTAURANT LTD
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets362,42764,058
62,42764,058
Current assets
Stocks-1,758
Cash at bank and on hand83821,645
83823,403
Creditors amounts falling due within one year4(40,064)(46,325)
Net current assets (liabilities)(39,226)(22,922)
Total assets less current liabilities23,20141,136
Creditors amounts falling due after one year5(22,645)(31,333)
Net assets5569,803
Capital and reserves
Called up share capital150150
Profit and loss account4069,653
Shareholders' funds5569,803
The financial statements were approved and authorised for issue by the Director on 15 February 2024, and are signed on its behalf by:
Mohammed Abdul Chohid Ahad
Director
Registered Company No. 11273642
METALI RESTAURANT LTD
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings10
Vehicles10
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year1516
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 2272,073
At 30 June 2372,073
Depreciation and impairment
At 01 July 228,015
Charge for year1,631
At 30 June 239,646
Net book value
At 30 June 2362,427
At 30 June 2264,058
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-460
Taxation and social security39,12540,411
Other creditors9395,454
Total40,06446,325
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts22,64531,333
Total22,64531,333