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REGISTERED NUMBER: SC536947 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

India Quay (Restaurant) Limited

India Quay (Restaurant) Limited (Registered number: SC536947)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


India Quay (Restaurant) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: S Purewall
K Purewall





REGISTERED OFFICE: Unit 3 , Morris Park
37 Rosyth Road
Glasgow
G5 0YD





REGISTERED NUMBER: SC536947 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

India Quay (Restaurant) Limited (Registered number: SC536947)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,629 13,908

CURRENT ASSETS
Stocks 5 4,612 2,842
Debtors 6 123,988 82,267
Cash at bank and in hand 7 107,930 157,762
236,530 242,871
CREDITORS
Amounts falling due within one year 8 47,147 99,562
NET CURRENT ASSETS 189,383 143,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,012

157,217

CREDITORS
Amounts falling due after more than one
year

9

30,000

40,000
NET ASSETS 180,012 117,217

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings 10 180,000 117,205
SHAREHOLDERS' FUNDS 180,012 117,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

India Quay (Restaurant) Limited (Registered number: SC536947)

Balance Sheet - continued
30 June 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by:





K Purewall - Director


India Quay (Restaurant) Limited (Registered number: SC536947)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

India Quay (Restaurant) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 - 15% on reducing balance
Computer equipment - 15% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 21 ) .

India Quay (Restaurant) Limited (Registered number: SC536947)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 19,571 740 20,311
Additions 5,268 5,158 10,426
At 30 June 2023 24,839 5,898 30,737
DEPRECIATION
At 1 July 2022 6,149 254 6,403
Charge for year 2,803 902 3,705
At 30 June 2023 8,952 1,156 10,108
NET BOOK VALUE
At 30 June 2023 15,887 4,742 20,629
At 30 June 2022 13,422 486 13,908

5. STOCKS
30.6.23 30.6.22
£    £   
Stocks 4,612 2,842

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
IQ Properties Ltd 111,488 69,767
Prepayments 12,500 12,500
123,988 82,267

7. CASH AT BANK AND IN HAND
30.6.23 30.6.22
£    £   
Bank 66,073 116,482
Cash in hand 41,857 41,280
107,930 157,762

India Quay (Restaurant) Limited (Registered number: SC536947)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 3,544 3,542
Tax 31,694 39,201
Social security and other taxes (3,419 ) 12,634
VAT 3,888 30,327
Directors' current accounts 1,452 990
Accrued expenses 9,988 12,868
47,147 99,562

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans - 2-5 years 30,000 40,000

10. RESERVES
Retained
earnings
£   

At 1 July 2022 117,205
Profit for the year 68,795
Dividends (6,000 )
At 30 June 2023 180,000