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Registered number: 11015814
Truth Restaurant And Bar Ltd.
Unaudited Financial Statements
For The Year Ended 31 October 2023
Chartax Associates & Co
Chartered Certified Accountants and Tax Consultants
103 B Island Business Centre
18-36 Wellington Street
Woolwich
London
SE18 6PF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11015814
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,645 12,808
13,645 12,808
CURRENT ASSETS
Debtors 5 3,751 7,419
Cash at bank and in hand 2,164 -
5,915 7,419
Creditors: Amounts Falling Due Within One Year 6 (42,805 ) (51,682 )
NET CURRENT ASSETS (LIABILITIES) (36,890 ) (44,263 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,245 ) (31,455 )
Creditors: Amounts Falling Due After More Than One Year 7 (27,494 ) (22,661 )
NET LIABILITIES (50,739 ) (54,116 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (50,839 ) (54,216 )
SHAREHOLDERS' FUNDS (50,739) (54,116)
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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 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 Dinesh Shrestha
Director
23 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Truth Restaurant And Bar Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 11015814 . The registered office is 93 Victoria Road, Aldershot, GU11 1JE.
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 Balance Sheet is on net deficit. The directors and shareholders have confirmed that the financial assistance will be provided as when required.
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.
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.
2.4. 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 6.67% Straight Line
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Staright Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 19,217 24,342 11,560 55,119
Additions - 2,826 - 2,826
As at 31 October 2023 19,217 27,168 11,560 57,945
Depreciation
As at 1 November 2022 6,409 24,342 11,560 42,311
Provided during the period 1,282 707 - 1,989
As at 31 October 2023 7,691 25,049 11,560 44,300
Net Book Value
As at 31 October 2023 11,526 2,119 - 13,645
As at 1 November 2022 12,808 - - 12,808
5. Debtors
2023 2022
£ £
Due within one year
Sundry debtors - 3,669
Other debtors -Rent Deposits 3,750 3,750
Other taxes and social security -PAYE & NIC 1 -
3,751 7,419
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (2 ) (1 )
Bank loans and overdrafts 1,098 6,953
Net wages 1,435 -
Other creditors -Apex Services Ltd 33,204 33,204
Provision for liabilities 849 (3 )
Other creditors - Pension Payable (5 ) -
Other creditors- Sushi Ichiban Ltd - 9,730
...CONTINUED
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Accruals and deferred income 1,300 500
Directors' loan accounts 4,926 -
Finance Loan < 1 year - 1,299
42,805 51,682
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 27,494 22,661
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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