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La Choza Mexican Street Food Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Braiden Accounts
Chartered Accountants
Braiden Accounts 26 Waterfront
Brighton Marina Village
Brighton
East Sussex
BN2 5WA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08042759
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 10,550 13,450
10,550 13,450
CURRENT ASSETS
Debtors 6 8,836 10,814
Cash at bank and in hand 12,148 11,110
20,984 21,924
Creditors: Amounts Falling Due Within One Year 7 (163,325 ) (140,983 )
NET CURRENT ASSETS (LIABILITIES) (142,341 ) (119,059 )
TOTAL ASSETS LESS CURRENT LIABILITIES (131,791 ) (105,609 )
NET LIABILITIES (131,791 ) (105,609 )
CAPITAL AND RESERVES
Called up share capital 8 80 80
Profit and Loss Account (131,871 ) (105,689 )
SHAREHOLDERS' FUNDS (131,791) (105,609)
Page 1
Page 2
For the year ending 31 March 2024 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
Ms Annie Gelpey
Director
19/11/2024
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
La Choza Mexican Street Food Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08042759 . The registered office is 36 GLOUCESTER ROAD, BRIGHTON , EAST SUSSEX , BN1 4AQ.
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% Straight Line
Plant & Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 33% Straight Line
Computer Equipment 33% Striaght Line
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 15 10
15 10
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 4,000
As at 31 March 2024 4,000
Amortisation
As at 1 April 2023 4,000
As at 31 March 2024 4,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 25,000 41,694 2,800 18,100
Additions - 4,215 - -
As at 31 March 2024 25,000 45,909 2,800 18,100
Depreciation
As at 1 April 2023 25,000 31,467 2,800 15,775
Provided during the period - 6,096 - 620
As at 31 March 2024 25,000 37,563 2,800 16,395
Net Book Value
As at 31 March 2024 - 8,346 - 1,705
As at 1 April 2023 - 10,227 - 2,325
Computer Equipment Total
£ £
Cost
As at 1 April 2023 2,762 90,356
Additions - 4,215
As at 31 March 2024 2,762 94,571
Depreciation
As at 1 April 2023 1,864 76,906
Provided during the period 399 7,115
As at 31 March 2024 2,263 84,021
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 499 10,550
As at 1 April 2023 898 13,450
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,257 894
Prepayments and accrued income 4,583 6,944
Other debtors 2,896 2,896
Net wages 20 -
Called up share capital not paid 80 80
8,836 10,814
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 37,752 21,280
Bank loans and overdrafts 38,334 43,333
Other taxes and social security 17,146 22,648
VAT 46,637 34,121
Other creditors 6,855 -
Directors' loan accounts 16,601 19,601
163,325 140,983
8. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 80 80
Amount of Allotted, Called Up Share Capital 80 80
Page 5