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REGISTERED NUMBER: 04323473















MASALA ART RESTAURANTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






MASALA ART RESTAURANTS LIMITED (REGISTERED NUMBER: 04323473)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 6


MASALA ART RESTAURANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr Bahadur Singh
Mrs Amarjit Kaur



SECRETARY:



REGISTERED OFFICE: 4 Highlands Court
Cranmore Avenue
Solihull
West Midlands
B90 4LE



BUSINESS ADDRESS: 6 Midland Road
Derby
DE1 2SN



REGISTERED NUMBER: 04323473



ACCOUNTANTS: Shareef
Chartered Accountants
4 Highlands Court
Cranmore Avenue
Solihull
West Midlands
B90 4LE



BANKERS: Barclays Bank PLC
Leicester Central
2 Blackbird Road
Leicester
Leicestershire
LE4 0FS

MASALA ART RESTAURANTS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
MASALA ART RESTAURANTS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2023 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Shareef
Chartered Accountants
4 Highlands Court
Cranmore Avenue
Solihull
West Midlands
B90 4LE


19 July 2024

MASALA ART RESTAURANTS LIMITED (REGISTERED NUMBER: 04323473)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 470,000 470,000

CURRENT ASSETS
Cash at bank 5,888 3,281

CREDITORS
Amounts falling due within one year 5 182,828 207,673
NET CURRENT LIABILITIES (176,940 ) (204,392 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

293,060

265,608

PROVISIONS FOR LIABILITIES 18,586 18,586
NET ASSETS 274,474 247,022

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 90,741 90,741
Retained earnings 183,633 156,181
SHAREHOLDERS' FUNDS 274,474 247,022

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

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

MASALA ART RESTAURANTS LIMITED (REGISTERED NUMBER: 04323473)

BALANCE SHEET - continued
30 NOVEMBER 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 19 July 2024 and were signed on its behalf by:





Mr Bahadur Singh - Director


MASALA ART RESTAURANTS LIMITED (REGISTERED NUMBER: 04323473)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Masala Art Restaurants Limited is a private company, limited by shares , registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY

In the director's opinion the value of the property is £470,000.

MASALA ART RESTAURANTS LIMITED (REGISTERED NUMBER: 04323473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2017 89,327
Valuation in 2020 20,000
Cost 360,673
470,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,167 3,064
Taxation and social security 27,898 20,289
Other creditors 151,763 184,320
182,828 207,673

6. RESERVES
Fair
value
reserve
£   
At 1 December 2022
and 30 November 2023 90,741