Registered number
07044516
NISSI Restaurant Limited
Unaudited Financial Statements for the year ended
31 October 2024
NISSI Restaurant Limited
Report and accounts
Contents
Page
Balance sheet 1
Notes to the accounts 2 - 5
NISSI Restaurant Limited
Registered number: 07044516
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,980 22,129
Current assets
Stocks 7,914 3,895
Debtors 4 41,448 31,380
Cash at bank and in hand 59,915 71,855
109,277 107,130
Creditors: amounts falling due within one year 5 (98,557) (90,333)
Net current assets 10,720 16,797
Total assets less current liabilities 32,700 38,926
Creditors: amounts falling due after more than one year 6 (26,257) (31,551)
Provisions for liabilities (5,495) (4,205)
Net assets 948 3,170
Capital and reserves
Called up share capital 2 2
Profit and loss account 946 3,168
Shareholders' funds 948 3,170
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 financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The directors report and the profit and loss account have not been delivered to the Registrar of Companies.
The financial statements were approved and authorised for issue by the board on 26 February 2025 and were signed on its behalf by:
C Charalambous
Director
NISSI Restaurant Limited
Notes to the Financial Statements
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance wish FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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 is recognised when the goods are consumed.
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:
Leasehold land and buildings No depreciation provided
Plant and machinery 25% reducing balance
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.
Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for the objective evidence of impairment. If the objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right of set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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
The tax expense for the year comprises current and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2023 9,583 64,244 73,827
Additions - 7,000 7,000
Disposals - (30,000) (30,000)
At 31 October 2024 9,583 41,244 50,827
Depreciation
At 1 November 2023 - 51,698 51,698
Charge for the year - 7,149 7,149
On disposals - (30,000) (30,000)
At 31 October 2024 - 28,847 28,847
Net book value
At 31 October 2024 9,583 12,397 21,980
At 31 October 2023 9,583 12,546 22,129
4 Debtors 2024 2023
£ £
Trade debtors 1,694 -
Other debtors 39,754 31,380
41,448 31,380
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,686 5,948
Trade creditors 3,923 3,032
Corporation tax 15,528 14,337
Other taxes and social security costs 71,937 64,257
Other creditors 1,483 2,759
98,557 90,333
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,257 31,551
7 Other financial commitments 2024 2023
£ £
Annual commitments under operating lease 29,400 29,400
8 Related party transactions
Included in other debtors are amounts due from the directors amounting to £39,753 (2023: £31,380) and attracting interest at 2.5%. The amounts were repaid post year end.
9 Controlling party
There is no ultimate controlling party. The company is under common control.
10 Other information
NISSI Restaurant Limited is a private company limited by shares and incorporated in England whose registered office is 62 Aldermans Hill, London N13 4PP.
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