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ST HELENA RESTAURANT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2022






ST HELENA RESTAURANT LIMITED (REGISTERED NUMBER: 04140902)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

ST HELENA RESTAURANT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2022







DIRECTOR: R Marotta





SECRETARY: C P Hall





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road
Woburn Road Industrial Estate, Kempston
Bedford
Bedfordshire
MK42 7PN





REGISTERED NUMBER: 04140902 (England and Wales)





ACCOUNTANTS: Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

ST HELENA RESTAURANT LIMITED (REGISTERED NUMBER: 04140902)

BALANCE SHEET
31ST MARCH 2022

31/3/22 31/3/21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 195,856 195,127
195,856 195,127

CURRENT ASSETS
Stocks 54,745 63,860
Debtors 6 710,570 600,592
Cash at bank and in hand 143,468 130,486
908,783 794,938
CREDITORS
Amounts falling due within one year 7 192,924 142,979
NET CURRENT ASSETS 715,859 651,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

911,715

847,086

PROVISIONS FOR LIABILITIES 2,574 1,973
NET ASSETS 909,141 845,113

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 229,900 229,900
Retained earnings 679,141 615,113
SHAREHOLDERS' FUNDS 909,141 845,113

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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.

ST HELENA RESTAURANT LIMITED (REGISTERED NUMBER: 04140902)

BALANCE SHEET - continued
31ST MARCH 2022


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th August 2022 and were signed by:





R Marotta - Director


ST HELENA RESTAURANT LIMITED (REGISTERED NUMBER: 04140902)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

St Helena Restaurant 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents restaurant takings excluding value added tax.

Goodwill
Goodwill is being written off 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.
Long leasehold - straight line over lease term
Antiques - straight line over 20 years
Fixtures and fittings - straight line over 20 years
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


ST HELENA RESTAURANT LIMITED (REGISTERED NUMBER: 04140902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

2. ACCOUNTING POLICIES - continued
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 22 (2021 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2021
and 31st March 2022 100,000
AMORTISATION
At 1st April 2021
and 31st March 2022 100,000
NET BOOK VALUE
At 31st March 2022 -
At 31st March 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold Antiques fittings equipment Totals
£    £    £    £    £   
COST
At 1st April 2021 230,000 33,006 64,146 1,540 328,692
Additions - - 5,399 - 5,399
At 31st March 2022 230,000 33,006 69,545 1,540 334,091
DEPRECIATION
At 1st April 2021 46,000 32,833 54,264 468 133,565
Charge for year 2,300 58 1,799 513 4,670
At 31st March 2022 48,300 32,891 56,063 981 138,235
NET BOOK VALUE
At 31st March 2022 181,700 115 13,482 559 195,856
At 31st March 2021 184,000 173 9,882 1,072 195,127

ST HELENA RESTAURANT LIMITED (REGISTERED NUMBER: 04140902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Trade debtors and prepayments 4,146 -
Loans 691,364 587,964
Accrued income 5,792 9,854
Prepayments 9,268 2,774
710,570 600,592

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/22 31/3/21
£    £   
Bank loans and overdrafts - 50,000
Trade creditors 40,997 4,640
Corporation tax 21,670 1,365
Social security and other taxes 2,495 (105 )
VAT 22,895 15,681
Other creditors 7,308 3,849
Directors' current accounts 89,259 64,249
Accruals and deferred income 8,300 3,300
192,924 142,979

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Marotta.

ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ST HELENA RESTAURANT LIMITED

The following reproduces the text of the report prepared for the director 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 Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of St Helena Restaurant Limited for the year ended 31st March 2022 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of St Helena Restaurant Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of St Helena Restaurant Limited and state those matters that we have agreed to state to the director of St Helena Restaurant Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than St Helena Restaurant Limited and its director for our work or for this report.

It is your duty to ensure that St Helena Restaurant Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of St Helena Restaurant Limited. You consider that St Helena Restaurant Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of St Helena Restaurant Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


5th September 2022