CHAI MEATS LIMITED Filleted accounts for Companies House (small and micro)

CHAI MEATS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03499981

CHAI MEATS LIMITED

Filleted Financial Statements

31 December 2020

CHAI MEATS LIMITED

Statement of Financial Position

31 December 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	5		23,114	12,582

Current assets

Debtors	6	1,085,459	718,781
Cash at bank and in hand		26,975	4,639
		------------	---------
		1,112,434	723,420

Creditors: amounts falling due within one year	7	927,651		534,840
		------------		---------
Net current assets			184,783	188,580
			---------	---------
Total assets less current liabilities			207,897	201,162
			---------	---------
Net assets			207,897	201,162
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	207,895	201,160
	---------	---------
Shareholders funds	207,897	201,162
	---------	---------

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.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 25 October 2021 , and are signed on behalf of the board by:

Mr A Bendahan
Director

Company registration number: 03499981

CHAI MEATS LIMITED

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tudor House, Llanvanor Road, London, NW2 2AQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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 machineryy	-	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2019: 6 ).

5. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1 January 2020	16,775	16,775
Additions	14,589	14,589
	--------	--------
At 31 December 2020	31,364	31,364
	--------	--------
Depreciation
At 1 January 2020	4,193	4,193
Charge for the year	4,057	4,057
	--------	--------
At 31 December 2020	8,250	8,250
	--------	--------
Carrying amount
At 31 December 2020	23,114	23,114
	--------	--------
At 31 December 2019	12,582	12,582
	--------	--------

6. Debtors

	2020	2019
	£	£
Trade debtors	1,006,759	585,605
Other debtors	78,700	133,176
	------------	---------
	1,085,459	718,781
	------------	---------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	50,000	–
Trade creditors	167,924	178,855
Amounts owed to group undertakings and undertakings in which the company has a participating interest	587,891	189,890
Social security and other taxes	–	14,183
Other creditors	121,836	151,912
	---------	---------
	927,651	534,840
	---------	---------

8. Summary audit opinion

The auditor's report for the year dated 25 October 2021 was unqualified.

The senior statutory auditor was Phillip Smulovitch , for and on behalf of GK & Co. LLP .

9. Controlling party

The ultimate parent company is Richtone Developments Ltd., a company incorporated in British Virgin Islands.