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Registered number: 09299424
5 STAR DESSERT CONFECTIONERY LTD
Unaudited Financial Statements
For The Year Ended 30 November 2023
Nephos Accountants Limited
Formal House
60 St. Georges Place
Cheltenham
Gloucestershire
GL50 3PN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09299424
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,232 6,499
4,232 6,499
CURRENT ASSETS
Stocks 5 10,000 10,000
Debtors 6 10,400 22,981
Cash at bank and in hand 195,951 185,494
216,351 218,475
Creditors: Amounts Falling Due Within One Year 7 (143,491 ) (170,593 )
NET CURRENT ASSETS (LIABILITIES) 72,860 47,882
TOTAL ASSETS LESS CURRENT LIABILITIES 77,092 54,381
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,077 ) (1,235 )
NET ASSETS 76,015 53,146
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 76,013 53,144
SHAREHOLDERS' FUNDS 76,015 53,146
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Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sanat Motichande
Director
7th August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
5 STAR DESSERT CONFECTIONERY LTD is a private company, limited by shares, incorporated in England & Wales, registered number 09299424 . The registered office is 5a London Designer Outlet , Wembley Park Boulevard, Wembley, Middlesex, HA9 0TG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 19 15
19 15
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 76,186 111,950 8,149 196,285
Additions 431 - - 431
Disposals (5,484 ) - - (5,484 )
As at 30 November 2023 71,133 111,950 8,149 191,232
...CONTINUED
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Depreciation
As at 1 December 2022 71,626 111,950 6,210 189,786
Provided during the period 933 - 1,046 1,979
Disposals (4,765 ) - - (4,765 )
As at 30 November 2023 67,794 111,950 7,256 187,000
Net Book Value
As at 30 November 2023 3,339 - 893 4,232
As at 1 December 2022 4,560 - 1,939 6,499
5. Stocks
2023 2022
£ £
Stock 10,000 10,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 688 3,371
Prepayments and accrued income 9,712 19,610
10,400 22,981
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,966 23,774
Corporation tax 5,859 16,789
Other taxes and social security 1,098 436
VAT 17,093 15,084
Net wages 12,261 12,134
Other creditors - 101,472
Accruals and deferred income - 904
Director's loan account 104,214 -
143,491 170,593
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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