Registered number
11697943
Indigo Food Service Ltd
Filleted Accounts
30 November 2023
Indigo Food Service Ltd
Registered number: 11697943
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 10,350 -
Tangible assets 4 162,629 144,631
172,979 144,631
Current assets
Stocks 50,000 75,000
Debtors 5 228,437 122,892
Cash at bank and in hand 174,284 79,342
452,721 277,234
Creditors: amounts falling due within one year 6 (69,102) (36,107)
Net current assets 383,619 241,127
Total assets less current liabilities 556,598 385,758
Creditors: amounts falling due after more than one year 7 (147,105) (149,596)
Provisions for liabilities (7,829) (7,829)
Net assets 401,664 228,333
Capital and reserves
Called up share capital 1 1
Profit and loss account 401,663 228,332
Shareholder's funds 401,664 228,333
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs Kinjalben Mitulkumar Jani
Director
Approved by the board on 9 October 2024
Indigo Food Service Ltd
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
Additions 13,800
At 30 November 2023 13,800
Amortisation
Provided during the year 3,450
At 30 November 2023 3,450
Net book value
At 30 November 2023 10,350
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 - 33,018 175,618 208,636
Additions 510 32,946 38,751 72,207
At 30 November 2023 510 65,964 214,369 280,843
Depreciation
At 1 December 2022 - 17,327 46,678 64,005
Charge for the year 127 12,159 41,923 54,209
At 30 November 2023 127 29,486 88,601 118,214
Net book value
At 30 November 2023 383 36,478 125,768 162,629
At 30 November 2022 - 15,691 128,940 144,631
5 Debtors 2023 2022
£ £
Trade debtors 15,737 12,832
Amounts owed by group undertakings and undertakings in which the company has a participating interest 212,700 29,762
Other debtors - 80,298
228,437 122,892
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,720 4,320
Taxation and social security costs 65,177 31,787
Other creditors 205 -
69,102 36,107
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,267 34,915
Obligations under finance lease and hire purchase contracts 122,838 114,681
147,105 149,596
8 Other information
Indigo Food Service Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Osram Road
East Lane Buiness Park
Wembley
HA9 7NG
Indigo Food Service Ltd 11697943 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts July 2024 Mrs Kinjalben Mitulkumar Jani No description of principal activity 11697943 2021-12-01 2022-11-30 11697943 core:WithinOneYear 2022-11-30 11697943 core:AfterOneYear 2022-11-30 11697943 core:ShareCapital 2022-11-30 11697943 core:RetainedEarningsAccumulatedLosses 2022-11-30 11697943 2022-12-01 2023-11-30 11697943 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11697943 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 11697943 bus:Director40 2022-12-01 2023-11-30 11697943 1 2022-12-01 2023-11-30 11697943 2 2022-12-01 2023-11-30 11697943 core:Goodwill 2022-12-01 2023-11-30 11697943 core:LandBuildings 2022-12-01 2023-11-30 11697943 core:PlantMachinery 2022-12-01 2023-11-30 11697943 core:Vehicles 2022-12-01 2023-11-30 11697943 countries:England 2022-12-01 2023-11-30 11697943 bus:FRS102 2022-12-01 2023-11-30 11697943 bus:FilletedAccounts 2022-12-01 2023-11-30 11697943 2023-11-30 11697943 core:WithinOneYear 2023-11-30 11697943 core:AfterOneYear 2023-11-30 11697943 core:ShareCapital 2023-11-30 11697943 core:RetainedEarningsAccumulatedLosses 2023-11-30 11697943 core:Goodwill 2023-11-30 11697943 core:LandBuildings 2023-11-30 11697943 core:PlantMachinery 2023-11-30 11697943 core:Vehicles 2023-11-30 11697943 2022-11-30 11697943 core:LandBuildings 2022-11-30 11697943 core:PlantMachinery 2022-11-30 11697943 core:Vehicles 2022-11-30 iso4217:GBP xbrli:pure