Company registration number 05272363 (England and Wales)
ENTRECOTE (MARYLEBONE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
ENTRECOTE (MARYLEBONE) LTD
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
ENTRECOTE (MARYLEBONE) LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,569
6,330
Current assets
Debtors
5
246,179
145,669
Cash at bank and in hand
120
120
246,299
145,789
Creditors: amounts falling due within one year
6
(453,173)
(349,947)
Net current liabilities
(206,874)
(204,158)
Net liabilities
(201,305)
(197,828)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(201,306)
(197,829)
Total equity
(201,305)
(197,828)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 September 2022 and are signed on its behalf by:
Mr M Elghanayan
Mr S Mokhtarzadeh
Director
Director
Company Registration No. 05272363
ENTRECOTE (MARYLEBONE) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2020
1
(177,336)
(177,335)
Year ended 31 December 2020:
Loss and total comprehensive income for the year
-
(20,493)
(20,493)
Balance at 31 December 2020
1
(197,829)
(197,828)
Year ended 31 December 2021:
Loss and total comprehensive income for the year
-
(3,477)
(3,477)
Balance at 31 December 2021
1
(201,306)
(201,305)
ENTRECOTE (MARYLEBONE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information

Entrecote (Marylebone) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is , Gable House, 239 Regents Park, Road, Finchley, London, United Kingdom, N3 3LF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
6.67%  Straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

ENTRECOTE (MARYLEBONE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees
2021
2020
Number
Number
Total
4
4
ENTRECOTE (MARYLEBONE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2021 and 31 December 2021
457,503
Depreciation and impairment
At 1 January 2021
451,173
Depreciation charged in the year
761
At 31 December 2021
451,934
Carrying amount
At 31 December 2021
5,569
At 31 December 2020
6,330
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
190,476
71,750
Amounts owed by group undertakings and undertakings in which the company has a participating interest
9,952
13,384
Other debtors
45,751
60,535
246,179
145,669
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
6,573
72,629
Amounts owed to group undertakings
392,329
203,183
Taxation and social security
7,298
28,447
Other creditors
46,973
45,688
453,173
349,947
7
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
ENTRECOTE (MARYLEBONE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
8
Parent company

The ultimate controlling and parent company is Entrecote Holdings Limited, a company registered in England & Wales.

9
Going concern

The Directors have considered whether it is appropriate to prepare the Company financial statements on a going concern basis. The Company is dependent on the ongoing support of its parent company Entrecote Holdings Limited and subsidiary companies (the Group).

 

In doing so, the Directors have considered the operation of the Group and prepared and cash flow forecasts to ascertain whether the Group can meet its obligations as they fall due for at least twelve months from the date of approval of the financial statements.

 

In this forecast, the Directors have taken account of the implications of COVID-19 which could impact the future.

 

The Directors therefore have a reasonable expectation the Group has adequate resources to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements and consequently have adopted the going concern basis of accounting in preparing the non-statutory accounts.

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