Company registration number 07932659 (England and Wales)
BANG CURRY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
BANG CURRY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
BANG CURRY LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
167,758
85,052
Tangible assets
4
17,329
18,999
185,087
104,051
Current assets
Stocks
5
32,952
7,634
Debtors
6
54,122
47,300
Cash at bank and in hand
101,275
269,173
188,349
324,107
Creditors: amounts falling due within one year
7
(29,603)
(44,789)
Net current assets
158,746
279,318
Total assets less current liabilities
343,833
383,369
Creditors: amounts falling due after more than one year
8
(45,000)
(45,000)
Net assets
298,833
338,369
Capital and reserves
Called up share capital
9
2
2
Share premium account
589,643
589,643
Profit and loss reserves
(290,812)
(251,276)
Total equity
298,833
338,369
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BANG CURRY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 August 2024 and are signed on its behalf by:
Dr S Nuruzzaman
Director
Company Registration No. 07932659
BANG CURRY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 March 2022
2
318,330
(148,485)
169,847
Year ended 28 February 2023:
Loss and total comprehensive income for the year
-
-
(102,791)
(102,791)
Issue of share capital
9
271,313
-
271,313
Balance at 28 February 2023
2
589,643
(251,276)
338,369
Year ended 29 February 2024:
Loss and total comprehensive income for the year
-
-
(39,536)
(39,536)
Balance at 29 February 2024
2
589,643
(290,812)
298,833
BANG CURRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
1
Accounting policies
Company information
Bang Curry Limited is a private company limited by shares incorporated in England and Wales. The registered office is 111 Power Road, London, England, W4 5PY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred.
Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility of the product can be demonstrated. Development costs are capitalised within intangible fixed assets and amortised in accordance with the accounting policy set out below.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
15% straight line
Other intangibles
10% straight line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
BANG CURRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 5 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
5% reducing balance
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
BANG CURRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
2
3
Intangible fixed assets
Development costs
Other intangibles
Total
£
£
£
Cost
At 1 March 2023
92,672
8,910
101,582
Additions
85,812
7,582
93,394
At 29 February 2024
178,484
16,492
194,976
Amortisation and impairment
At 1 March 2023
14,748
1,782
16,530
Amortisation charged for the year
9,039
1,649
10,688
At 29 February 2024
23,787
3,431
27,218
Carrying amount
At 29 February 2024
154,697
13,061
167,758
At 28 February 2023
77,924
7,128
85,052
BANG CURRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2023
22,408
9,317
31,725
Additions
197
197
At 29 February 2024
22,408
9,514
31,922
Depreciation and impairment
At 1 March 2023
5,519
7,207
12,726
Depreciation charged in the year
845
577
1,422
Eliminated in respect of disposals
445
445
At 29 February 2024
6,364
8,229
14,593
Carrying amount
At 29 February 2024
16,044
1,285
17,329
At 28 February 2023
16,889
2,110
18,999
5
Stocks
2024
2023
£
£
Stocks
32,952
7,634
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,428
204
Other debtors
7,960
13,241
13,388
13,445
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
40,734
33,855
Total debtors
54,122
47,300
BANG CURRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,674
20,441
Trade creditors
6,449
1,001
Taxation and social security
921
Other creditors
19,559
23,347
29,603
44,789
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
45,000
45,000
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £0.000002 each
1,035,983
1,035,983
2.07
2.07
Investment B of £0.000002 each
66,437
66,437
0.13
0.13
1,102,420
1,102,420
2.20
2.20