Registered number
11663247
Amended
Restore Distributions Ltd
Filleted Accounts
For The Year Ended 30 November 2022
Restore Distributions Ltd
Registered number: 11663247
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 945 1,362
Current assets
Stocks 15,500 52,500
Debtors 4 19,515 17,050
Cash at bank and in hand 1,741 820
36,756 70,370
Creditors: amounts falling due within one year 5 (81,369) (54,215)
Net current (liabilities)/assets (44,613) 16,155
Total assets less current liabilities (43,668) 17,517
Creditors: amounts falling due after more than one year 6 (18,634) (23,429)
Net liabilities (62,302) (5,912)
Capital and reserves
Called up share capital 100 100
Profit and loss account (62,402) (6,012)
Shareholders' funds (62,302) (5,912)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 Arjit Singh Sethi
Director
Approved by the board on 9 January 2025
Restore Distributions Ltd
Notes to the Accounts
for the year ended 30 November 2022
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.
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:
Computer & Equipment 20% straight Line Method
Furniture & Fixture 20% straight Line Method
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.
Going Concern
The accounts are prepared on a going concern basis notwithstanding the fact that the company balance sheet has a negative equity. The company director, who is owed by the company will not recall loan owed to him until the company turns into profitability and financially able to repay. Also, the company is in agreement with the creditors and director will continue to provide financial support to the company.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Computer & Equipments Furniture & Fixture Total
£ £ £
Cost
At 1 December 2021 2,447 - 2,447
Additions - 90 90
At 30 November 2022 2,447 90 2,537
Depreciation
At 1 December 2021 1,085 - 1,085
Charge for the year 489 18 507
At 30 November 2022 1,574 18 1,592
Net book value
At 30 November 2022 873 72 945
At 30 November 2021 1,362 - 1,362
4 Debtors 2022 2021
£ £
Trade debtors 2,515 50
Other debtors 17,000 17,000
19,515 17,050
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 4,136 4,136
Taxation and social security costs 54,916 38,442
Other creditors 22,317 11,637
81,369 54,215
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 18,634 23,429
7 Other information
Restore Distributions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6 Southall Enterprises
Bridge Road
Southall
England
UB2 4AE
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