Edinburgh Restaurant (Edinburgh) Limited - Accounts to registrar (filleted) - small 23.1.2
Edinburgh Restaurant (Edinburgh) Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| Edinburgh Restaurant (Edinburgh) Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2022 |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountants | 10 |
| Edinburgh Restaurant (Edinburgh) Limited |
| Company Information |
| for the Year Ended 31 July 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 9 Ainslie Place |
| Edinburgh |
| Midlothian |
| EH3 6AT |
| BANKERS: |
| Bootle |
| Merseyside |
| L30 4GB |
| SOLICITORS: |
| 5th Floor, 1 Exchange Crescent |
| Conference Square |
| Edinburgh |
| EH3 8UL |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Balance Sheet |
| 31 July 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Balance Sheet - continued |
| 31 July 2022 |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2022 |
| 1. | STATUTORY INFORMATION |
| Edinburgh Restaurant (Edinburgh) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover and recognition |
| Turnover represents net sales of restaurant food and drink, excluding value added tax. Turnover is recognised at the point of sale. |
| Intangible assets |
| Amortisation is provided for the lease premium over the term of the lease. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Government grants |
| Government grants in relation to tangible fixed asset are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. |
| 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. |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Going concern |
| The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future. The directors' going concern assessment includes the likely impact of Covid 19 for a period of at least 12 months from the date of signature of these accounts. |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Provisions |
| Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 August 2021 |
| and 31 July 2022 |
| AMORTISATION |
| At 1 August 2021 |
| Charge for year |
| At 31 July 2022 |
| NET BOOK VALUE |
| At 31 July 2022 |
| At 31 July 2021 |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 July 2022 |
| DEPRECIATION |
| At 1 August 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 July 2022 |
| NET BOOK VALUE |
| At 31 July 2022 |
| At 31 July 2021 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 August 2021 |
| Transfer to ownership | (11,549 | ) |
| At 31 July 2022 |
| DEPRECIATION |
| At 1 August 2021 |
| Transfer to ownership | (10,972 | ) |
| At 31 July 2022 |
| NET BOOK VALUE |
| At 31 July 2022 |
| At 31 July 2021 |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 9) |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 56,683 | 82,208 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2022 | 2021 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Edinburgh Restaurant (Edinburgh) Limited (Registered number: SC400655) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2022 |
| 9. | LEASING AGREEMENTS - continued |
| Non-cancellable | operating leases |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| Lease payments during the year recognised as an operating expense total £50,000 (2021: £62,500) |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 July 2022 and 31 July 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Director's loans are unsecured and repayable on demand. Interest is charged on loans repayable to the company at 2% per annum. Loans repayable by the company are interest free. |
| 11. | RELATED PARTY DISCLOSURES |
| Shareholders other than the directors have advanced loans to the company. The loans are unsecured, interest free and have no fixed terms of repayment. The balance due to shareholders at 31 July 2022 was £3,199 (2021: £13,860). |
| Edinburgh Restaurant (Edinburgh) Limited |
| Report of the Accountants to the Directors of |
| Edinburgh Restaurant (Edinburgh) Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2022 set out on page nil and you consider that the company is exempt from an audit. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
| 9 Ainslie Place |
| Edinburgh |
| Midlothian |
| EH3 6AT |