Registered number
03470477
Shimla Spice Restaurant Ltd
Filleted Accounts
30 November 2024
Shimla Spice Restaurant Ltd
Registered number: 03470477
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 18,287 18,715
Investments 4 31,676 31,676
49,963 50,391
Current assets
Stocks 7,355 6,920
Debtors 5 1,092 -
Cash at bank and in hand 52,904 55,541
61,351 62,461
Creditors: amounts falling due within one year 6 (23,057) (28,969)
Net current assets 38,294 33,492
Total assets less current liabilities 88,257 83,883
Creditors: amounts falling due after more than one year 7 (6,965) (6,514)
Provisions for liabilities (4,002) (3,941)
Net assets 77,290 73,428
Capital and reserves
Called up share capital 100 4
Profit and loss account 77,190 73,424
Shareholders' funds 77,290 73,428
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.
Mr Mohammed Ayub
Director
Approved by the board on 26 August 2025
Shimla Spice 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.
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:
Fixtures and equipment 15% reducing balance basis
Leasehold improvements 20% straight line
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 18 15
3 Tangible fixed assets
Leasehold improvements Fixtures and equipment Total
£ £ £
Cost
At 1 December 2023 20,038 174,723 194,761
Additions - 5,661 5,661
At 30 November 2024 20,038 180,384 200,422
Depreciation
At 1 December 2023 19,925 156,121 176,046
Charge for the year 23 6,066 6,089
At 30 November 2024 19,948 162,187 182,135
Net book value
At 30 November 2024 90 18,197 18,287
At 30 November 2023 113 18,602 18,715
4 Investments
Shimla Spice
(Yorkshire) Restaurant Ltd
£
Cost
At 1 December 2023 31,676
At 30 November 2024 31,676
5 Debtors 2024 2023
£ £
Trade debtors 1,092 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,696 10,488
Other taxes and social security costs 17,361 18,481
23,057 28,969
7 Creditors: amounts falling due after one year 2024 2023
£ £
Director's Current Account 6,965 6,514
8 Other information
Shimla Spice Restaurant Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14 South Street
Keighley
West Yorkshire
BD21 1NR
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