Registered number
10753971
HIGH WYCH CURRIES LTD
Filleted Accounts
31 May 2024
HIGH WYCH CURRIES LTD
Registered number: 10753971
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 43,145 44,771
Current assets
Stocks 5,100 5,500
Debtors 4 6,838 8,335
Cash at bank and in hand 26,283 27,900
38,221 41,735
Creditors: amounts falling due within one year 5 (18,030) (20,499)
Net current assets 20,191 21,236
Total assets less current liabilities 63,336 66,007
Creditors: amounts falling due after more than one year 6 (20,377) (30,258)
Net assets 42,959 35,749
Capital and reserves
Called up share capital 1 1
Profit and loss account 42,958 35,748
Shareholder's funds 42,959 35,749
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.
Abu Koyes Mojid
Director
Approved by the board on 20 February 2025
HIGH WYCH CURRIES LTD
Notes to the Accounts
for the year ended 31 May 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).
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.
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.
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.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 62,612
Additions 9,160
At 31 May 2024 71,772
Depreciation
At 1 June 2023 17,841
Charge for the year 10,786
At 31 May 2024 28,627
Net book value
At 31 May 2024 43,145
At 31 May 2023 44,771
4 Debtors 2024 2023
£ £
Trade debtors 6,838 8,335
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 14,630 18,899
Other creditors 3,400 1,600
18,030 20,499
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,377 30,258
7 Other information
HIGH WYCH CURRIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Chandani Indian Restaurant
High Wych
Sawbridgeworth
Herts
CM21 0HY
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