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Company Registration No. 09075696 (England and Wales)
VERACE RESTAURANT LIMITED Unaudited accounts for the year ended 30 June 2023
VERACE RESTAURANT LIMITED Unaudited accounts Contents
Page
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VERACE RESTAURANT LIMITED Company Information for the year ended 30 June 2023
Director
Michele MAGNOTTA
Company Number
09075696 (England and Wales)
Registered Office
20 SCHOOL ROAD SALE M33 7XF ENGLAND
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VERACE RESTAURANT LIMITED Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,052 
29,081 
Current assets
Inventories
2,500 
2,500 
Debtors
6,966 
9,368 
Cash at bank and in hand
54,392 
58,133 
63,858 
70,001 
Creditors: amounts falling due within one year
(44,617)
(23,000)
Net current assets
19,241 
47,001 
Total assets less current liabilities
33,293 
76,082 
Creditors: amounts falling due after more than one year
(43,709)
(53,779)
Net (liabilities)/assets
(10,416)
22,303 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(10,516)
22,203 
Shareholders' funds
(10,416)
22,303 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 February 2024 and were signed on its behalf by
Michele MAGNOTTA Director Company Registration No. 09075696
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VERACE RESTAURANT LIMITED Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
VERACE RESTAURANT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09075696. The registered office is 20 SCHOOL ROAD, SALE, M33 7XF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2022
49,511 
54,973 
12,209 
116,693 
At 30 June 2023
49,511 
54,973 
12,209 
116,693 
Depreciation
At 1 July 2022
32,731 
45,960 
8,921 
87,612 
Charge for the year
4,952 
8,246 
1,831 
15,029 
At 30 June 2023
37,683 
54,206 
10,752 
102,641 
Net book value
At 30 June 2023
11,828 
767 
1,457 
14,052 
At 30 June 2022
16,780 
9,013 
3,288 
29,081 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,241 
9,021 
Accrued income and prepayments
725 
347 
6,966 
9,368 
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VERACE RESTAURANT LIMITED Notes to the Accounts for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
11,022 
19,947 
VAT
3,425 
539 
Trade creditors
8,889 
11,594 
Taxes and social security
4,739 
4,108 
Other creditors
- 
8,641 
Loans from directors
16,542 
(23,812)
Accruals
- 
1,983 
44,617 
23,000 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
43,709 
53,779 
Aggregate of amounts that fall due for payment after five years
- 
5,833 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
19,000 
19,000 
Later than one year and not later than five years
42,750 
42,750 
61,750 
61,750 
10
Average number of employees
During the year the average number of employees was 10 (2022: 5).
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