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REGISTERED NUMBER: 03122163 (England and Wales)










Billy's Indian Cuisine Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023






Billy's Indian Cuisine Limited (Registered number: 03122163)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Billy's Indian Cuisine Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mr Abdul Rehman





SECRETARY: Mr Romessa Rehman





REGISTERED OFFICE: 31 Sackville Street
Manchester
M1 3LZ





REGISTERED NUMBER: 03122163 (England and Wales)






Billy's Indian Cuisine Limited (Registered number: 03122163)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 12,963 8,292

CURRENT ASSETS
Stocks 6 4,450 280
Debtors 7 36,074 48,732
Cash at bank and in hand 2,150 2,610
42,674 51,622
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

(24,036

)

(19,670

)
NET CURRENT ASSETS 18,638 31,952
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,601

40,244

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

9

(27,965

)

(37,656

)

PROVISIONS FOR LIABILITIES (1,524 ) (396 )
NET ASSETS 2,112 2,192

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 2,108 2,188
SHAREHOLDERS' FUNDS 2,112 2,192

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 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.

Billy's Indian Cuisine Limited (Registered number: 03122163)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





Mr Abdul Rehman - Director


Billy's Indian Cuisine Limited (Registered number: 03122163)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
31 Sackville Street
Manchester
M1 3LZ
England

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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

TANGIBLE ASSETS
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

DEPRECIATION
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset classDepreciation method and rate
Fixtures & fittings15% reducing balance basis
Motor vehicles 25% reducing balance basis

Billy's Indian Cuisine Limited (Registered number: 03122163)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

TAX
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Billy's Indian Cuisine Limited (Registered number: 03122163)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

DEFINED CONTRIBUTION PENSION OBLIGATION
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 6,867 26,554 10,703 44,124
Additions - - 5,100 5,100
At 30 November 2023 6,867 26,554 15,803 49,224
DEPRECIATION
At 1 December 2022 - 25,164 10,668 35,832
Charge for year - 208 221 429
At 30 November 2023 - 25,372 10,889 36,261
NET BOOK VALUE
At 30 November 2023 6,867 1,182 4,914 12,963
At 30 November 2022 6,867 1,390 35 8,292

Included within the net book value of land and buildings above is £6,867 (2022 - £6,867) in respect of freehold land and buildings

Billy's Indian Cuisine Limited (Registered number: 03122163)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. STOCKS
2023 2022
£    £   
Stocks 4,450 280

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 36,074 48,732

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,581 9,581
Trade creditors 5,384 801
Taxation and social security - 419
Other creditors 9,071 8,869
24,036 19,670

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 27,965 37,656

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 Ordinary Share 1 4 4

11. RELATED PARTY DISCLOSURES

The balance on the Director's loan account stood at £2,994 credit on the Balance Sheet date (2022 -£3,186 credit.)
There were no other related party transactions such as are required to be disclosed.