Registered number
10553274
Mill Hill Sushi Ltd
Filleted Accounts
31 December 2024
Mill Hill Sushi Ltd
Registered number: 10553274
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,908 -
Current assets
Debtors 4 10,399 7,212
Cash at bank and in hand 3,241 874
13,640 8,086
Creditors: amounts falling due within one year 5 (80,716) (60,562)
Net current liabilities (67,076) (52,476)
Total assets less current liabilities (54,168) (52,476)
Creditors: amounts falling due after more than one year 6 (16,641) (20,931)
Net liabilities (70,809) (73,407)
Capital and reserves
Called up share capital 100 100
Profit and loss account (70,909) (73,507)
Shareholders' funds (70,809) (73,407)
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 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.
Otgonzaya Chuluunbat
Director
Approved by the board on 18 March 2025
Mill Hill Sushi Ltd
Notes to the Accounts
for the year ended 31 December 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).
Going concern
The directors consider the going concern basis to be appropriate because in their opinion, the company will continue to obtain sufficient funding to enable it to pay its debts as they fall due and also will receive continuing support from its shareholders. If the company were unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts and to provide for further liabilities that may arise.
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.
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 buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 7,128
Additions 12,908
At 31 December 2024 20,036
Depreciation
At 1 January 2024 7,128
At 31 December 2024 7,128
Net book value
At 31 December 2024 12,908
4 Debtors 2024 2023
£ £
Trade debtors 3,516 1,553
Other debtors 6,883 5,659
10,399 7,212
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 31,468 11,321
Taxation and social security costs 1,459 1,348
Other creditors 47,789 47,893
80,716 60,562
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 16,500 20,759
Other creditors 141 172
16,641 20,931
7 Related party transactions
Other creditors at the year end include amount of £44,337 ( 2022:£45,924) due to the directors. Amount is unsecured, interest free and repayable on demand.
8 Controlling party
There is no ultimate controlling party as Ms Otgonzaya Chuluunbat and Ms Ganchimeg Lkhamjav equally hold 50% shares in the company.
9 Other information
Mill Hill Sushi Ltd is a private company limited by shares and incorporated in England. Its registered office is:
56 High Street, Barnet
London
England EN5 5SJ
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