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COMPANY REGISTRATION NUMBER: 11419699
Desai Brothers Catering PVT Ltd
Filleted Unaudited Financial Statements
30 June 2024
Desai Brothers Catering PVT Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
11,624
6,619
Current assets
Stocks
17,990
5,100
Debtors
6
30,165
33,456
Cash at bank and in hand
15,036
3,574
--------
--------
63,191
42,130
Creditors: amounts falling due within one year
7
218,447
97,773
---------
--------
Net current liabilities
155,256
55,643
---------
--------
Total assets less current liabilities
( 143,632)
( 49,024)
Creditors: amounts falling due after more than one year
8
21,522
28,184
---------
--------
Net liabilities
( 165,154)
( 77,208)
---------
--------
Capital and reserves
Called up share capital
4
4
Profit and loss account
( 165,158)
( 77,212)
---------
--------
Shareholders deficit
( 165,154)
( 77,208)
---------
--------
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 30 June 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 .
Desai Brothers Catering PVT Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 11 June 2025 , and are signed on behalf of the board by:
Mr S H Desai
Director
Company registration number: 11419699
Desai Brothers Catering PVT Ltd
Notes to the Financial Statements
Year ended 30 June 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 263-265 Abbey Lane, Leicester, LE4 5QH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, Small Entities of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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.
Going concern
At 30 June 2024 the company's balance sheet showed an insolvent position. It is the intention of the directors to continue to support the company to enable it to meet its cashflow requirements and so these accounts have been prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
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.
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:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
50% straight line
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.
Financial instruments
The Company only 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 objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2023: 10 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2023
5,630
3,895
9,525
Additions
452
3,500
2,956
6,908
-------
-------
-------
--------
At 30 June 2024
6,082
7,395
2,956
16,433
-------
-------
-------
--------
Depreciation
At 1 July 2023
1,932
974
2,906
Charge for the year
755
949
199
1,903
-------
-------
-------
--------
At 30 June 2024
2,687
1,923
199
4,809
-------
-------
-------
--------
Carrying amount
At 30 June 2024
3,395
5,472
2,757
11,624
-------
-------
-------
--------
At 30 June 2023
3,698
2,921
6,619
-------
-------
-------
--------
6. Debtors
2024
2023
£
£
Other debtors
30,165
33,456
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
69,672
45,278
Trade creditors
57,840
12,576
Corporation tax
3,207
Social security and other taxes
67,807
24,400
Other creditors
23,128
12,312
---------
--------
218,447
97,773
---------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,522
28,184
--------
--------
9. Director's advances, credits and guarantees
At 30 June 2024, director owed £17,128 (2023: £25,519) to the company.
10. The ultimate controlling party
The company is controlled by the director of the company.