Registered number
08760576
SOUTH INDIAN RESTAURANTS LTD
Filleted Accounts
30 November 2024
SOUTH INDIAN RESTAURANTS LTD
Registered number: 08760576
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 83,523 71,380
Tangible assets 4 13,810 25,359
97,333 96,739
Current assets
Stocks 49,750 71,559
Debtors 5 86,247 29,227
Cash at bank and in hand 259,001 263,666
394,998 364,452
Creditors: amounts falling due within one year 6 (234,659) (179,134)
Net current assets 160,339 185,318
Total assets less current liabilities 257,672 282,057
Creditors: amounts falling due after more than one year 7 (28,022) (46,705)
Net assets 229,650 235,352
Capital and reserves
Called up share capital 3 3
Profit and loss account 229,647 235,349
Shareholders' funds 229,650 235,352
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 W P Mendonca
Director
Approved by the board on 28 August 2025
SOUTH INDIAN RESTAURANTS 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:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 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 56 50
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 71,380
Additions 12,143
At 30 November 2024 83,523
Amortisation
At 30 November 2024 -
Net book value
At 30 November 2024 83,523
At 30 November 2023 71,380
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 289,758
At 30 November 2024 289,758
Depreciation
At 1 December 2023 264,399
Charge for the year 11,549
At 30 November 2024 275,948
Net book value
At 30 November 2024 13,810
At 30 November 2023 25,359
5 Debtors 2024 2023
£ £
Other debtors 86,247 29,227
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,636 -
Trade creditors 110,053 84,614
Taxation and social security costs 99,249 80,380
Other creditors 14,721 14,140
234,659 179,134
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,022 46,705
8 Other information
SOUTH INDIAN RESTAURANTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
7/8 Mill Hill
Leeds
LS1 5DQ
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