Company Registration No. 02917516 (England and Wales)
Academy of Oriental Cuisine Limited
Unaudited accounts
for the year ended 30 June 2024
Academy of Oriental Cuisine Limited
Statement of financial position
as at 30 June 2024
Tangible assets
400,619
405,482
Cash at bank and in hand
19,656
49,679
Creditors: amounts falling due within one year
(66,697)
(47,509)
Net current (liabilities)/assets
(45,478)
3,399
Total assets less current liabilities
355,141
408,881
Creditors: amounts falling due after more than one year
(78,400)
(145,614)
Net assets
276,741
263,267
Called up share capital
100
100
Profit and loss account
276,641
263,167
Shareholders' funds
276,741
263,267
For the year ending 30 June 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 February 2025 and were signed on its behalf by
Mrs R K L Stubbs
Director
Company Registration No. 02917516
Academy of Oriental Cuisine Limited
Notes to the Accounts
for the year ended 30 June 2024
Academy of Oriental Cuisine Limited is a private company, limited by shares, registered in England and Wales, registration number 02917516. The registered office is Academy Building, Gower Street, LEEDS, West Yorkshire, LS2 7PX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25.00% Straight Line
Motor vehicles
25.00% Reducing Balance
Computer equipment
33.33% Straight Line
The company does not depreciate freehold property as the director remains confident that the value of the properties is in excess of that stated in the accounts.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Academy of Oriental Cuisine Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2023
385,459
1,312
51,749
1,260
439,780
At 30 June 2024
385,459
1,574
51,749
1,260
440,042
At 1 July 2023
-
1,112
32,083
1,103
34,298
Charge for the year
-
209
4,759
157
5,125
At 30 June 2024
-
1,321
36,842
1,260
39,423
At 30 June 2024
385,459
253
14,907
-
400,619
At 30 June 2023
385,459
200
19,666
157
405,482
Amounts falling due within one year
Deferred tax asset
1,328
868
Accrued income and prepayments
235
361
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
2,059
Taxes and social security
3,887
3,642
Other creditors
4,850
4,846
Loans from directors
51,356
31,000
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
10,000
10,000
Loans from directors
30,000
100,714
8
Transactions with related parties
The Director, Mr R K L Stubbs owns 1% of the shares in the company, her three adult children own 25% of the shares each and the remaining 24% is split equally between eight of her grandchildren.
At the year end, the company owed an amount of £81,356 (2023 - £131,714) to Mrs R K L Stubbs.
Academy of Oriental Cuisine Limited
Notes to the Accounts
for the year ended 30 June 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).