Chandni Chowk (Bham) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06918387 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

FOR

CHANDNI CHOWK (BHAM) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P L Chort

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

06918387 (England and Wales)

ACCOUNTANTS:

Thapers Limited

Chartered Accountants

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

FIXED ASSETS

Intangible assets

4

45,000

50,000

Tangible assets

5

64,720

66,383

109,720

116,383

CURRENT ASSETS

Stocks

6

1,657

1,563

Debtors

7

5,000

5,000

Cash at bank and in hand

36,495

31,376

43,152

37,939

CREDITORS

Amounts falling due within one year

8

159,119

157,911

NET CURRENT LIABILITIES

(115,967

)

(119,972

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,247

)

(3,589

)

CREDITORS

Amounts falling due after more than one year

9

50,000

50,000

NET LIABILITIES

(56,247

)

(53,589

)

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

12

(57,247

)

(54,589

)

SHAREHOLDERS' FUNDS

(56,247

)

(53,589

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 May 2022 and were signed by:

P L Chort - Director

1.	STATUTORY INFORMATION

Chandni Chowk (Bham) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on reducing balance

Improvements to property

-

10% on reducing balance

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2020

and 31 May 2021

100,000

AMORTISATION

At 1 June 2020

50,000

Amortisation for year

5,000

At 31 May 2021

55,000

NET BOOK VALUE

At 31 May 2021

45,000

At 31 May 2020

50,000

5.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 June 2020

20,000

48,753

34,339

Additions

-

-

-

At 31 May 2021

20,000

48,753

34,339

DEPRECIATION

At 1 June 2020

13,027

23,517

21,191

Charge for year

698

2,524

1,315

At 31 May 2021

13,725

26,041

22,506

NET BOOK VALUE

At 31 May 2021

6,275

22,712

11,833

At 31 May 2020

6,973

25,236

13,148

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2020

41,618

1,807

146,517

Additions

5,326

205

5,531

At 31 May 2021

46,944

2,012

152,048

DEPRECIATION

At 1 June 2020

22,102

297

80,134

Charge for year

2,485

172

7,194

At 31 May 2021

24,587

469

87,328

NET BOOK VALUE

At 31 May 2021

22,357

1,543

64,720

At 31 May 2020

19,516

1,510

66,383

6.

STOCKS

31/5/21

31/5/20

£

£

Stocks

1,657

1,563

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Prepayments

5,000

5,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Bank loans and overdrafts (see note 10)

18,556

4,806

Trade creditors

7,642

14,122

Tax

2,395

3,112

Social security and other taxes

8,575

7,408

VAT

1,275

440

NEST Pension

-

490

Directors' current accounts

113,576

119,487

Accrued expenses

7,100

8,046

159,119

157,911

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/21

31/5/20

£

£

Bank loans (see note 10)

50,000

50,000

10.

LOANS

An analysis of the maturity of loans is given below:

31/5/21

31/5/20

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

18,556

4,806

Amounts falling due between two and five years:

Bank loans - 2-5 years

50,000

50,000

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/21

31/5/20

value:

£

£

1,000

Ordinary

£1

1,000

1,000

12.

RESERVES

Retained

earnings

£

At 1 June 2020

(54,589

)

Deficit for the year

(2,658

)

At 31 May 2021

(57,247

)