Registered number
14025018
IZANIS LIMITED
Report and Accounts
31 January 2024
IZANIS LIMITED
Registered number: 14025018
Director's Report
The director presents his report and accounts for the period ended 31 January 2024.
Principal activities
The company's principal activity during the year continued to be Licensed restaurants.
Directors
The following persons served as directors during the period:
Erdal Pehlivan
Hazal Pehlivan
Fatih Zorba
Gokhan Cavusoglu
Ersin Ozer
Magdalena Wrobel
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 31 January 2025 and signed on its behalf.
Fatih Zorba
Director
IZANIS LIMITED
Accountants' Report
Accountants' report to the director of
IZANIS LIMITED
You consider that the company is exempt from an audit for the period ended 31 January 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial period and of its profit or loss for the financial period.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Dirench & Co.
Certified Practicing Accountants
151 West Green Road
LONDON
N15 5EA
31 January 2025
IZANIS LIMITED
Profit and Loss Account
for the period from 1 May 2023 to 31 January 2024
2024
£
Turnover345,453
Cost of sales(117,667)
Gross profit227,786
Administrative expenses(237,027)
Operating loss(9,241)
Interest receivable1,201
Loss before taxation(8,040)
Tax on loss-
Loss for the period(8,040)
IZANIS LIMITED
Registered number:14025018
Balance Sheet
as at 31 January 2024
Notes2024 2023
£ £
Fixed assets
Tangible assets319,839-
Current assets
Debtors465,852-
Cash at bank and in hand7,21127,715
73,06327,715
Creditors: amounts falling due within one year5(101,118)(3,250)
Net current (liabilities)/assets(28,055)24,465
Total assets less current liabilities(8,216)24,465
Creditors: amounts falling due after more than one year6- (24,641)
Net liabilities(8,216)(176)
Capital and reserves
Called up share capital150150
Profit and loss account(8,366)(326)
Shareholders' funds(8,216)(176)
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 members have 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.
Fatih Zorba
Director
Approved by the board on 31 January 2025
IZANIS LIMITED
Statement of Changes in Equity
for the period from 1 May 2023 to 31 January 2024
ShareShareRe-ProfitTotal
capitalpremiumvaluationand loss
reserveaccount
£ £ £ £ £
At 1 May 2022- - - - -
Loss for the financial year(326)(326)
Shares issued150- 150
At 30 April 2023150 - - (326)(176)
At 1 May 2023150- - (326)(176)
Loss for the period(8,040)(8,040)
At 31 January 2024150- - (8,366)(8,216)
IZANIS LIMITED
Notes to the Accounts
for the period from 1 May 2023 to 31 January 2024
1Accounting 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 buildingsover 50 years
Leasehold land and buildingsover the lease term
Plant and machineryover 5 years
Fixtures, fittings, tools and equipmentover 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.
2Employees2024 2023
NumberNumber
Average number of persons employed by the company77
3Tangible fixed assets
Motor vehicles
£
Cost
Additions22,965
At 31 January 202422,965
Depreciation
Charge for the period3,126
At 31 January 20243,126
Net book value
At 31 January 202419,839
4Debtors2024 2023
£ £
Directors Loan Account49,235-
Other debtors16,617-
65,852-
5Creditors: amounts falling due within one year2024 2023
£ £
Trade creditors40,703-
Taxation and social security costs23,9383,250
Other creditors36,477-
101,1183,250
6Creditors: amounts falling due after one year2024 2023
£ £
Other creditors- 24,641
7Other information
IZANIS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
52-54 New Oxford Street
London
United Kingdom
WC1A 1ES
IZANIS LIMITED
Detailed profit and loss account
for the period from 1 May 2023 to 31 January 2024
This schedule does not form part of the statutory accounts
2024
£
Sales345,453
Cost of sales(117,667)
Gross profit227,786
Administrative expenses(237,027)
Operating loss(9,241)
Interest receivable1,201
Loss before tax(8,040)
IZANIS LIMITED
Detailed profit and loss account
for the period from 1 May 2023 to 31 January 2024
This schedule does not form part of the statutory accounts
2024
£
Sales
Sales
345,453
Cost of sales
Purchases
117,667
Administrative expenses
Employee costs:
Wages and salaries
34,031
Pensions-
Employer's NI-
Staff training and welfare
2,960
Travel and subsistence
1,521
38,512
Premises costs:
Rent
57,500
Rates
11,460
Service charges
4,667
Light and heat
18,115
Cleaning-
91,742
General administrative expenses:
Telephone and internet
586
Postage
7
Stationery and printing
2,140
Office Expenses
1,265
Subscriptions
3,179
Bank charges
3,507
Insurance
1,236
Equipment expensed
17,517
Equipment hire
13,653
Repairs and maintenance
13,684
Depreciation
3,126
Bad debts-
59,900
Legal and professional costs:
Accountancy fees
2,720
Consultancy fees
44,153
46,873
237,027
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