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REGISTERED NUMBER: 08519886 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

NEPALESE CHEF LIMITED

NEPALESE CHEF LIMITED (REGISTERED NUMBER: 08519886)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


NEPALESE CHEF LIMITED

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Kashi Nath Sharma





REGISTERED OFFICE: 24-26 London Road
Gloucester
Gloucestershire
GL1 3NR





REGISTERED NUMBER: 08519886 (England and Wales)





ACCOUNTANTS: Brindleys Limited
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

NEPALESE CHEF LIMITED (REGISTERED NUMBER: 08519886)

Abridged Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 67,833 80,165
67,833 80,165

CURRENT ASSETS
Stocks 32,500 17,000
Debtors 9,530 11,970
Cash at bank and in hand 13,794 14,732
55,824 43,702
CREDITORS
Amounts falling due within one year 39,438 44,183
NET CURRENT ASSETS/(LIABILITIES) 16,386 (481 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,219

79,684

PROVISIONS FOR LIABILITIES 6 16,905 19,979
NET ASSETS 67,314 59,705

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 67,312 59,703
SHAREHOLDERS' FUNDS 67,314 59,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NEPALESE CHEF LIMITED (REGISTERED NUMBER: 08519886)

Abridged Statement of Financial Position - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 August 2024 and were signed by:





Kashi Nath Sharma - Director


NEPALESE CHEF LIMITED (REGISTERED NUMBER: 08519886)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Nepalese Chef Limited is a private company, limited by shares , registered in England and Wales. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

NEPALESE CHEF LIMITED (REGISTERED NUMBER: 08519886)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Holiday pay
Holiday pay is recognised as an expense in the period in which the service is received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 29,978
AMORTISATION
At 1 June 2023
and 31 May 2024 29,978
NET BOOK VALUE

At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 153,442
Additions 4,133
At 31 May 2024 157,575
DEPRECIATION
At 1 June 2023 73,277
Charge for year 16,465
At 31 May 2024 89,742
NET BOOK VALUE
At 31 May 2024 67,833
At 31 May 2023 80,165

NEPALESE CHEF LIMITED (REGISTERED NUMBER: 08519886)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 16,905 19,979

Deferred
tax
£   
Balance at 1 June 2023 19,979
Provided during year (3,074 )
Balance at 31 May 2024 16,905

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 2 2

Each share has one voting right, equal rights to dividends and distribution.

8. RESERVES
Retained
earnings
£   

At 1 June 2023 59,703
Profit for the year 37,609
Dividends (30,000 )
At 31 May 2024 67,312

9. RELATED PARTY DISCLOSURES

During the year, the company paid the director, remuneration of £12,570 and dividends of £15,000.