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Registered Number: 09139037
England and Wales

 

 

 

NEPALESE FOOD ZONE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
Report to the directors on the preparation of the unaudited statutory accounts of Nepalese Food Zone Limited for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Nepalese Food Zone Limited for the year ended 31 July 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Nepalese Food Zone Limited, as a body, in accordance with the terms of our engagement letter dated 24 April 2024 Our work has been undertaken solely to prepare for your approval the accounts of Nepalese Food Zone Limited and state those matters that we have agreed to state to the Board of Directors of Nepalese Food Zone Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nepalese Food Zone Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Nepalese Food Zone Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nepalese Food Zone Limited. You consider that Nepalese Food Zone Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Nepalese Food Zone Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 July 2023



....................................................
SNP Plus Ltd
Accountants and Tax Advisors
284 Station Road
Harrow
HA1 2EA
24 April 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 3,000    6,000 
Tangible fixed assets 4 816    3,686 
3,816    9,686 
Current assets      
Stocks 1,858    1,678 
Debtors: amounts falling due within one year 500    200 
Cash at bank and in hand (2,797)   6,615 
(439)   8,493 
Creditors: amount falling due within one year (175,465)   (160,732)
Net current assets (175,904)   (152,239)
 
Total assets less current liabilities (172,088)   (142,553)
Creditors: amount falling due after more than one year (11,294)   (17,454)
Provisions for liabilities (1,007)   (802)
Net assets (184,389)   (160,809)
 

Capital and reserves
     
Called up share capital 5 180    180 
Profit and loss account (184,569)   (160,989)
Shareholder's funds (184,389)   (160,809)
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 24 April 2024 and were signed by:


-------------------------------
Dhan Bahadur Gurung
Director
2
General Information
Nepalese Food Zone Limited is a private company, limited by shares, registered in England and Wales, registration number 09139037, registration address Talbot House, 204-226 Imperial Drive, Harrow, England, HA2 7HH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognized as soon as goods and services are invoiced.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 August 2022 30,000    30,000 
Additions  
Disposals  
At 31 July 2023 30,000    30,000 
Amortisation
At 01 August 2022 24,000    24,000 
Charge for year 3,000    3,000 
On disposals  
At 31 July 2023 27,000    27,000 
Net book values
At 31 July 2023 3,000    3,000 
At 31 July 2022 6,000    6,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 August 2022 12,347    6,849    8,110    2,231    29,537 
Additions        
Disposals        
At 31 July 2023 12,347    6,849    8,110    2,231    29,537 
Depreciation
At 01 August 2022 10,574    6,849    7,570    858    25,851 
Charge for year 1,773      540    557    2,870 
On disposals        
At 31 July 2023 12,347    6,849    8,110    1,415    28,721 
Net book values
Closing balance as at 31 July 2023       816    816 
Opening balance as at 01 August 2022 1,773      540    1,373    3,686 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
180 Class A shares of £1.00 each 180    180 
180    180 

6.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Mr. Dhan Bahadur Gurung164,222 149,897 
3