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Registered number: 10362194
Sharat's Kitchen Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10362194
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 58,500 65,000
Tangible Assets 5 419,066 470,298
477,566 535,298
CURRENT ASSETS
Stocks 6 9,550 5,500
Debtors 7 28,620 89,816
Cash at bank and in hand 40,130 31,725
78,300 127,041
Creditors: Amounts Falling Due Within One Year 8 (175,478 ) (108,887 )
NET CURRENT ASSETS (LIABILITIES) (97,178 ) 18,154
TOTAL ASSETS LESS CURRENT LIABILITIES 380,388 553,452
Creditors: Amounts Falling Due After More Than One Year 9 (363,175 ) (472,207 )
NET ASSETS 17,213 81,245
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 17,212 81,244
SHAREHOLDERS' FUNDS 17,213 81,245
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Sharatkumar Peddapuran
Director
4 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sharat's Kitchen Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10362194 . The registered office is 13 Bramshaw Road, Tilehurst, Reading, RG30 6AT.
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. 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25% WDV method for Depreciation
Plant & Machinery 15% WDV method for Depreciation
Motor Vehicles 15% WDV method for Depreciation
Fixtures & Fittings 15% WDV method for Depreciation
Computer Equipment 15% WDV method for Depreciation
Page 3
Page 4
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2022: 6)
20 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 65,000
As at 31 October 2023 65,000
Amortisation
As at 1 November 2022 -
Provided during the period 6,500
As at 31 October 2023 6,500
Net Book Value
As at 31 October 2023 58,500
As at 1 November 2022 65,000
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Page 5
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 23,402 218,732 269,619 10,533 522,286
Additions - 34,687 915 6,130 41,732
Disposals - - (3,641 ) - (3,641 )
As at 31 October 2023 23,402 253,419 266,893 16,663 560,377
Depreciation
As at 1 November 2022 5,851 4,654 41,256 227 51,988
Provided during the period 5,850 36,136 45,109 2,348 89,443
Disposals - - (120 ) - (120 )
As at 31 October 2023 11,701 40,790 86,245 2,575 141,311
Net Book Value
As at 31 October 2023 11,701 212,629 180,648 14,088 419,066
As at 1 November 2022 17,551 214,078 228,363 10,306 470,298
6. Stocks
2023 2022
£ £
Stock 9,550 5,500
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 11,869 1,140
Prepayments and accrued income 3,040 5,850
Rent deposit 13,500 13,500
Other-debtors 211 10,020
VAT - 55,822
Other taxes and social security - 3,484
28,620 89,816
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Page 6
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 23,716 33,959
Bank loans and overdrafts 13,004 30,461
Other taxes and social security 1,504 -
VAT 21,636 -
Net wages 23,337 -
Director's loan account 92,281 44,467
175,478 108,887
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 81,203 104,575
Bank loans 33,970 39,946
Other creditors 48,002 127,686
Directors loan account 200,000 200,000
363,175 472,207
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 129,965 153,337
Less: Finance charges allocated to future periods 48,762 48,762
81,203 104,575
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 6