Registered number
11217444
Chef Kang (Old Street) Limited
Unaudited Filleted Accounts
29 February 2024
Chef Kang (Old Street) Limited
Registered number: 11217444
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,469 9,812
Current assets
Stocks - 82,816
Debtors 4 46,603 99,290
Cash at bank and in hand 216 1,376
46,819 183,482
Creditors: amounts falling due within one year 5 (11,993) (111,258)
Net current assets 34,826 72,224
Net assets 39,295 82,036
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 38,295 81,036
Shareholder's funds 39,295 82,036
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 his 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 D Kang
Director
Approved by the board on 26 November 2024
Chef Kang (Old Street) Limited
Notes to the Accounts
for the year ended 29 February 2024
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).
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:
Plant and machinery over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 26,444
At 29 February 2024 26,444
Depreciation
At 1 March 2023 16,632
Charge for the year 5,343
At 29 February 2024 21,975
Net book value
At 29 February 2024 4,469
At 28 February 2023 9,812
4 Debtors 2024 2023
£ £
Other debtors 46,603 99,290
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 1,000
Taxation and social security costs 6,599 51,724
Other creditors 5,394 58,534
11,993 111,258
6 Controlling party
The company is under the control of the shareholder, Ms L Fan, by virtue of her shareholdings in the company.
7 Other information
Chef Kang (Old Street) Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Cropley Street
London
England
N1 7PT
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