Registered number
09303654
DANNY'S CHINESE RESTAURANT LTD
Unaudited Filleted Accounts
For The Year Ended
30 November 2023
KHMM
Chartered Management Accountants
7-8 Wing Yip Business Centre
395 Edgware Road
London
NW2 6LN
Tel: 0208 208 2085 Fax: 0208 208 5568
DANNY'S CHINESE RESTAURANT LTD
Registered number: 09303654
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 33,833 40,833
Tangible assets 4 484,217 505,571
518,050 546,404
Current assets
Stocks 6,780 6,010
Debtors 5 9,885 9,375
Cash at bank and in hand 43,403 6,212
60,068 21,597
Creditors: amounts falling due within one year 6 (274,913) (216,042)
Net current liabilities (214,845) (194,445)
Total assets less current liabilities 303,205 351,959
Creditors: amounts falling due after more than one year 7 (215,907) (239,782)
Net assets 87,298 112,177
Capital and reserves
Called up share capital 90 90
Profit and loss account 87,208 112,087
Shareholders' funds 87,298 112,177
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 November 2023 the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Director's responsibilities:
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MR. KOWK CHUNG LI
Director
Approved by the board on 25 July 2024
DANNY'S CHINESE RESTAURANT LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Turnover
Turnover represents net retail sales excluding Value Added Tax.
Intangible fixed assets
The acquisition cost of goodwill is written off over its estimated useful economic life of 10 years.
Tangible fixed assets
Fixed assets are shown at cost. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its estimated useful life, as follows:
Land and buildings 2% per annum on cost
Fixtures, fittings and equipment 15% per annum on cost
Computer equipment 33.33% per annum on cost
Stocks
Stock is valued at the lower of cost and net realisable value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 23 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 70,000
At 30 November 2023 70,000
Amortisation
At 1 December 2022 29,167
Provided during the year 7,000
At 30 November 2023 36,167
Net book value
At 30 November 2023 33,833
At 30 November 2022 40,833
4 Tangible fixed assets
Land and buildings Fixtures, fittings & equipment Computer equipment Total
£ £ £ £
Cost
At 1 December 2022 465,534 101,861 7,019 574,414
Additions - 2,917 250 3,167
At 30 November 2023 465,534 104,778 7,269 577,581
Depreciation
At 1 December 2022 29,282 34,545 5,016 68,843
Charge for the year 9,311 14,490 720 24,521
At 30 November 2023 38,593 49,035 5,736 93,364
Net book value
At 30 November 2023 426,941 55,743 1,533 484,217
At 30 November 2022 436,252 67,316 2,003 505,571
5 Debtors 2023 2022
£ £
Prepayments 5,135 4,625
Other debtors 4,750 4,750
9,885 9,375
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 28,415 25,831
Trade creditors 5,285 10,490
Taxation and social security costs 47,324 36,490
Other creditors 193,889 143,231
274,913 216,042
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 215,907 239,782
8 Other information
DANNY'S CHINESE RESTAURANT LTD is a private company limited by shares and incorporated in England. Its registered office is:
8 Wing Yip Business Centre
395 Edgware Road
London
NW2 6LN
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