Rannoch Road Takeaway Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC397496 (Scotland)

Rannoch Road Takeaway Limited

Unaudited Financial Statements

for the Year Ended 30 April 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D K F Shek

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

REGISTERED NUMBER:

SC397496 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

TSB Bank plc

PO Box 373

Leeds

LS14 9GQ

FIXED ASSETS

Tangible assets

4

183

366

CURRENT ASSETS

Stocks

1,670

1,000

Debtors

5

875

1,060

Cash at bank and in hand

20,628

22,632

23,173

24,692

CREDITORS

Amounts falling due within one year

6

9,577

9,047

NET CURRENT ASSETS

13,596

15,645

TOTAL ASSETS LESS CURRENT LIABILITIES

13,779

16,011

PROVISIONS FOR LIABILITIES

35

70

NET ASSETS

13,744

15,941

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

13,743

15,940

SHAREHOLDERS' FUNDS

13,744

15,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 11 January 2024 and were signed by:

Mr D K F Shek - Director

1.	STATUTORY INFORMATION

Rannoch Road Takeaway Limited is a private company, limited by shares , registered in Scotland. 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 and revenue recognition

Turnover, which represents gross invoiced sales of goods, is recognised at the point when the food or drink is served or delivered to the customer.

Tangible fixed assets

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

Equipment

-

33% on cost and 25% on cost

Stocks

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

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

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 where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 May 2022

and 30 April 2023

1,221

DEPRECIATION

At 1 May 2022

855

Charge for year

183

At 30 April 2023

1,038

NET BOOK VALUE

At 30 April 2023

183

At 30 April 2022

366

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

875

1,060

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

927

4,484

Other creditors

8,650

4,563

9,577

9,047

The director's current account is unsecured, interest free and has no fixed term of repayment.