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COMPANY REGISTRATION NUMBER: 12027182
Thai Village Restaurant & Bar Ltd
Filleted Unaudited Financial Statements
31 May 2024
Thai Village Restaurant & Bar Ltd
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
26,567
27,257
Current assets
Stocks
12,575
Debtors
6
7,640
260
Cash at bank and in hand
21,405
8,026
--------
--------
29,045
20,861
Creditors: amounts falling due within one year
7
373,417
238,517
---------
---------
Net current liabilities
344,372
217,656
---------
---------
Total assets less current liabilities
( 317,805)
( 190,399)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 317,806)
( 190,400)
---------
---------
Shareholders deficit
( 317,805)
( 190,399)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 February 2025 , and are signed on behalf of the board by:
Mrs N Mason
Director
Company registration number: 12027182
Thai Village Restaurant & Bar Ltd
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/o N K Ting & Co, 10 Chester Drive, North Harrow, HA2 7PU, Middlesex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
15% reducing balance
Kitchen Equipment
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2023: 22 ).
5. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jun 2023
9,619
16,397
7,005
1,500
4,590
39,111
Additions
607
3,391
3,998
-------
--------
-------
-------
-------
--------
At 31 May 2024
9,619
17,004
7,005
1,500
7,981
43,109
-------
--------
-------
-------
-------
--------
Depreciation
At 1 Jun 2023
3,032
4,483
2,850
800
689
11,854
Charge for the year
988
1,878
623
105
1,094
4,688
-------
--------
-------
-------
-------
--------
At 31 May 2024
4,020
6,361
3,473
905
1,783
16,542
-------
--------
-------
-------
-------
--------
Carrying amount
At 31 May 2024
5,599
10,643
3,532
595
6,198
26,567
-------
--------
-------
-------
-------
--------
At 31 May 2023
6,587
11,914
4,155
700
3,901
27,257
-------
--------
-------
-------
-------
--------
6. Debtors
2024
2023
£
£
Other debtors
7,640
260
-------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
57,774
70,017
Trade creditors
70,518
49,894
Social security and other taxes
239,172
118,516
Other creditors
5,953
90
---------
---------
373,417
238,517
---------
---------