Registered number
05900285
Shimla Spice (Yorkshire) Restaurant Limited
Filleted Accounts
30 November 2023
Shimla Spice (Yorkshire) Restaurant Limited
Registered number: 05900285
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 66,132 70,795
Current assets
Stocks 6,102 6,047
Cash at bank and in hand 185,836 176,275
191,938 182,322
Creditors: amounts falling due within one year 4 (99,485) (101,362)
Net current assets 92,453 80,960
Total assets less current liabilities 158,585 151,755
Creditors: amounts falling due after more than one year 5 (33,408) (53,740)
Provisions for liabilities (10,994) (11,510)
Net assets 114,183 86,505
Capital and reserves
Called up share capital 2 2
Profit and loss account 114,181 86,503
Shareholders' funds 114,183 86,505
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 Mohammed Ayub
Director
Approved by the board on 14 August 2024
Shimla Spice (Yorkshire) Restaurant 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. 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.
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:
Fixtures and equipment 15% reducing balance basis
Leasehold improvements 20% straight line basis
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 18 17
3 Tangible fixed assets
Land and buildings Fixtures and equipment Total
£ £ £
Cost
At 1 December 2022 41,982 428,080 470,062
Additions - 6,554 6,554
At 30 November 2023 41,982 434,634 476,616
Depreciation
At 1 December 2022 34,274 364,993 399,267
Charge for the year 771 10,446 11,217
At 30 November 2023 35,045 375,439 410,484
Net book value
At 30 November 2023 6,937 59,195 66,132
At 30 November 2022 7,708 63,087 70,795
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 56,868 62,140
Other taxes and social security costs 42,617 39,222
99,485 101,362
5 Creditors: amounts falling due after one year 2023 2022
£ £
Trade creditors 31,676 31,676
Director's Current Account 1,732 22,064
33,408 53,740
6 Transactions with the directors
The Company leases a building from the Directors at full commercial rent.
7 Other information
Shimla Spice (Yorkshire) Restaurant Limited is a private company limited by shares and incorporated in England. Its registered office is:
51 Grafton Road
Keighley
West Yorkshire
BD21 1LJ
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