Manakamana Catering Ltd - Filleted accounts

Manakamana Catering Ltd - Filleted accounts

MANAKAMANA CATERING LTD - Company Information

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Registered number
10000774
Manakamana Catering Ltd
Filleted Accounts
31 March 2018
Manakamana Catering Ltd
Registered number: 10000774
Balance Sheet
as at 31 March 2018
Notes 2018 2017
£ £
Fixed assets
Intangible assets 2 50,600 52,800
Tangible assets 3 24,943 33,257
75,543 86,057
Current assets
Stocks 14,150 3,250
Debtors 4 14,720 13,568
Cash at bank and in hand 3,247 15,578
32,117 32,396
Creditors: amounts falling due within one year 5 (110,313) (121,238)
Net current liabilities (78,196) (88,842)
Net liabilities (2,653) (2,785)
Capital and reserves
Called up share capital 150 150
Profit and loss account (2,803) (2,935)
Shareholders' funds (2,653) (2,785)
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.
Dinesh Raj Poudel
Director
Approved by the board on 22 December 2018
Manakamana Catering Ltd
Notes to the Accounts
for the year ended 31 March 2018
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 5 years
Fixtures, fittings, tools and equipment over 5 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.
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 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2017 55,000
At 31 March 2018 55,000
Amortisation
At 1 April 2017 2,200
Provided during the year 2,200
At 31 March 2018 4,400
Net book value
At 31 March 2018 50,600
At 31 March 2017 52,800
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2017 41,571
At 31 March 2018 41,571
Depreciation
At 1 April 2017 8,314
Charge for the year 8,314
At 31 March 2018 16,628
Net book value
At 31 March 2018 24,943
At 31 March 2017 33,257
4 Debtors 2018 2017
£ £
Trade debtors 4,470 3,318
Rent deposit 5,000 5,000
Other debtors 5,250 5,250
14,720 13,568
5 Creditors: amounts falling due within one year 2018 2017
£ £
Bank loans and overdrafts 1,649 -
Trade creditors 8,656 3,412
Taxation and social security costs 9,010 7,826
Other creditors 90,998 110,000
110,313 121,238
6 Other information
Manakamana Catering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
166 Field End Road
Eastcote
Middlesex
HA5 1RH
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