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Registered number: 12311039
Gourmet Empire Group Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12311039
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 100 100
100 100
CURRENT ASSETS
Debtors 5 187,544 271,708
Cash at bank and in hand 8 292
187,552 272,000
Creditors: Amounts Falling Due Within One Year 6 (8,308 ) (41,048 )
NET CURRENT ASSETS (LIABILITIES) 179,244 230,952
TOTAL ASSETS LESS CURRENT LIABILITIES 179,344 231,052
Creditors: Amounts Falling Due After More Than One Year 7 (340,709 ) (390,200 )
NET LIABILITIES (161,365 ) (159,148 )
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account (161,465 ) (159,248 )
SHAREHOLDERS' FUNDS (161,365) (159,148)
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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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Hamzah Soukat Alli
Director
28th August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Gourmet Empire Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12311039 . The registered office is 50 Woodgate, Leicester, LE3 5GF.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. 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 years 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 assets reflect 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.
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2.5. Group accounts
The financial statements present information about the company as an individual undertaking and not about the group. The company and its subsidiary undertakings comprise of a small group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Investments
Other
£
Cost
As at 1 December 2022 100
As at 30 November 2023 100
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 100
As at 1 December 2022 100
100% of the issued share capital of Gourmet Empire Limited, a company registered in England & Wales.
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 85,259 188,214
Due after more than one year
Other debtors 102,285 83,494
187,544 271,708
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1,200
Bank loans and overdrafts 6,000 33,848
Corporation tax 59 59
Other taxes and social security - 4,939
Other creditors 2,249 1,002
8,308 41,048
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 6,024 13,741
Other creditors 28,716 73,983
Amounts owed to subsidiaries 305,969 302,476
340,709 390,200
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