Registered number
09303654
DANNY'S CHINESE RESTAURANT LTD
Unaudited Filleted Accounts
For the year ended
30 November 2024
KHMM LTD T/A KHMM
Chartered Management Accountants
Unit 7-8 Wing Yip Business Centre
395 Edgware Road
London
NW2 6LN
Tel: 0208 208 2085
DANNY'S CHINESE RESTAURANT LTD
Registered number: 09303654
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 26,833 33,833
Tangible assets 4 466,794 484,217
493,627 518,050
Current assets
Stocks 6,035 6,780
Debtors 5 10,515 9,885
Cash at bank and in hand 73,167 43,403
89,717 60,068
Creditors: amounts falling due within one year 6 (283,129) (274,913)
Net current liabilities (193,412) (214,845)
Total assets less current liabilities 300,215 303,205
Creditors: amounts falling due after more than one year 7 (184,151) (215,907)
Net assets 116,064 87,298
Capital and reserves
Called up share capital 90 90
Profit and loss account 115,974 87,208
Shareholders' funds 116,064 87,298
The director is 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 director acknowledges his 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.
MR. KWOK CHUNG LI
Director
Approved by the board on 29 July 2025
DANNY'S CHINESE RESTAURANT LTD
Notes to the Accounts
for the year ended 30 November 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).
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.
Intangible fixed assets
The acquisition cost of goodwill is written off over its estimated useful economic life of 10 years.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 2% per annum on cost
Fixtures, fittings and equipment 15% per annum on cost
Computer equipment 33.33% per annum on cost
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 24 23
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 70,000
At 30 November 2024 70,000
Amortisation
At 1 December 2023 36,167
Provided during the year 7,000
At 30 November 2024 43,167
Net book value
At 30 November 2024 26,833
At 30 November 2023 33,833
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Fixtures, fittings & equipment Computer equipment Total
£ £ £ £
Cost
At 1 December 2023 465,534 104,778 7,269 577,581
Additions - 7,988 - 7,988
At 30 November 2024 465,534 112,766 7,269 585,569
Depreciation
At 1 December 2023 38,593 49,035 5,736 93,364
Charge for the year 9,311 15,305 795 25,411
At 30 November 2024 47,904 64,340 6,531 118,775
Net book value
At 30 November 2024 417,630 48,426 738 466,794
At 30 November 2023 426,941 55,743 1,533 484,217
5 Debtors 2024 2023
£ £
Prepayments 5,765 5,135
Other debtors 4,750 4,750
10,515 9,885
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 31,548 28,415
Trade creditors 6,665 5,285
Taxation and social security costs 60,112 47,324
Other creditors 184,804 193,889
283,129 274,913
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 184,151 215,907
8 Other information
DANNY'S CHINESE RESTAURANT LTD is a private company limited by shares and incorporated in England. Its registered office is:
8 Wing Yip Business Centre
395 Edgware Road
London
NW2 6LN
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