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SUBWAY COVENTRY LIMITED

Registered Number
04994984
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SUBWAY COVENTRY LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Daljit S Nahil

Company Secretary

Malkeet K Nahil

Registered Address

27 The Burges
Coventry
West Midlands
CV1 1HL

Registered Number

04994984 (England and Wales)
SUBWAY COVENTRY LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors547,83610,000
Cash at bank and on hand69,978152,664
117,814162,664
Creditors amounts falling due within one year6(122,885)(146,357)
Net current assets (liabilities)(5,071)16,307
Total assets less current liabilities(5,071)16,307
Net assets(5,071)16,307
Capital and reserves
Called up share capital100100
Profit and loss account(5,171)16,207
Shareholders' funds(5,071)16,307
The financial statements were approved and authorised for issue by the Director on 21 September 2024, and are signed on its behalf by:
Daljit S Nahil
Director
Registered Company No. 04994984
SUBWAY COVENTRY LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from sale of goods
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.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Franchise fees are valued at cost less accumulated amortisation. Depreciation is provided at rates calculated to write off the cost in equal annual instalments over their estimated useful lives.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles25
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year00
3.Intangible assets
4.Tangible fixed assets
5.Debtors: amounts due within one year

2024

2023

££
Other debtors47,83610,000
Total47,83610,000
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security56,94180,930
Other creditors65,40464,346
Accrued liabilities and deferred income5401,081
Total122,885146,357
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.
7.Directors advances, credits and guarantees
At the year's end, the amount due to director Mr. Daljit Nahil was £62,404 (2023: £63,346).