Registered number
11693305
Ariana Restaurant (London) Limited
Unaudited Filleted Accounts
30 November 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
Ariana Restaurant (London) Limited
Registered number: 11693305
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 10,000
Tangible assets 4 61,605 22,214
61,605 32,214
Current assets
Stocks 17,475 17,200
Debtors 5 245,961 306,007
Cash at bank and in hand 14,809 37,127
278,245 360,334
Creditors: amounts falling due within one year 6 (115,929) (123,564)
Net current assets 162,316 236,770
Total assets less current liabilities 223,921 268,984
Creditors: amounts falling due after more than one year 7 (15,833) (25,833)
Net assets 208,088 243,151
Capital and reserves
Called up share capital 120 120
Profit and loss account 207,968 243,031
Shareholders' funds 208,088 243,151
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 S R Panahposhteh
Director
Approved by the board on 29 August 2024
Ariana Restaurant (London) Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to property 10 % straight line
Plant and machinery 15 % on reducing balance
Motor Vehicle 15 % on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 50,000
At 30 November 2023 50,000
Amortisation
At 1 December 2022 40,000
Provided during the year 10,000
At 30 November 2023 50,000
Net book value
At 30 November 2023 -
At 30 November 2022 10,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Improvement to property Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 13,474 25,954 - 39,428
Additions 41,250 678 6,000 47,928
At 30 November 2023 54,724 26,632 6,000 87,356
Depreciation
At 1 December 2022 5,013 12,201 - 17,214
Charge for the year 5,472 2,165 900 8,537
At 30 November 2023 10,485 14,366 900 25,751
Net book value
At 30 November 2023 44,239 12,266 5,100 61,605
At 30 November 2022 8,461 13,753 - 22,214
5 Debtors 2023 2022
£ £
Trade debtors 893 2,490
Amounts owed by associate company. 44,666 121,196
Other debtors 200,402 182,321
245,961 306,007
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan ( see note 7 below) 10,000 10,000
Trade creditors 61,347 10,157
Taxation and social security costs 23,071 91,046
Other creditors 21,511 12,361
115,929 123,564
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 15,833 25,833
The bank loan is unsecured and is repayable over 60 months. The annual interest is 2.5%
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S R Panahposteh
Director Loan 112,963 11,597 - 124,560
Mr H T Folad
Director Loan 56,753 3,760 - 60,513
169,716 15,357 - 185,073
At the year end the Directors' loan account was overdrawn by £185,073 (2022- £169,716) and this amount is included under other debtors in note 5 above. The loan interest payable on the loan is 3% per annum.
9 Related party transactions
At the year end, Diamond FS Construction Limited owed £44,666 (2022- £121,196) to Ariana Restaurant (London) Limited. Both companies are under common ownership . After the year end the debt was fully repaid.
10 Controlling party
The company was under the control of Mr H T Folad , a director and shareholder throughout the year.
11 Other information
Ariana Restaurant (London) Limited is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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