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REGISTERED NUMBER: SC404475 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Pronto Restaurants Ltd.

Pronto Restaurants Ltd. (Registered number: SC404475)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Pronto Restaurants Ltd.

Company Information
for the Year Ended 31 December 2022







DIRECTORS: G Crolla
Mrs I F Crolla



SECRETARY: Mrs I F Crolla



REGISTERED OFFICE: 14 Rutland Square
Edinburgh
EH1 2BD



REGISTERED NUMBER: SC404475 (Scotland)



ACCOUNTANTS: Gibson McKerrell Brown LLP
Chartered Accountants
14 Rutland Square
Edinburgh
Midlothian
EH1 2BD



BANKERS: The Royal Bank of Scotland
12 Bridge Street
Musselburgh
EH21 6AH

Pronto Restaurants Ltd. (Registered number: SC404475)

Statement of Financial Position
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 275,271 275,271

CURRENT ASSETS
Debtors 5 419,736 418,604
Cash at bank and in hand 22,639 24,466
442,375 443,070
CREDITORS
Amounts falling due within one year 6 64,858 59,288
NET CURRENT ASSETS 377,517 383,782
TOTAL ASSETS LESS CURRENT
LIABILITIES

652,788

659,053

CREDITORS
Amounts falling due after more than one
year

7

167,813

193,180
NET ASSETS 484,975 465,873

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 484,875 465,773
SHAREHOLDERS' FUNDS 484,975 465,873

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:





G Crolla - Director


Pronto Restaurants Ltd. (Registered number: SC404475)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Pronto Restaurants Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes and is derived from the rental of a retail food outlet..

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operated a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to Statement of Comprehensive Income in the period to which they relate.

Pronto Restaurants Ltd. (Registered number: SC404475)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022
and 31 December 2022 275,271
NET BOOK VALUE
At 31 December 2022 275,271
At 31 December 2021 275,271

Investment property is being carried at fair value and the directors are of the opinion that cost represents a fair value of property.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors 419,736 418,604

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 25,297 25,228
Taxation and social security 8,809 27,658
Other creditors 30,752 6,402
64,858 59,288

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans 167,813 193,180

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr 66,624 92,268

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.22 31.12.21
£    £   
Bank loans 193,110 218,408

9. RELATED PARTY DISCLOSURES

At the year end, the balance on the inter-company loan accounts due from Maratea Investments Limited, Broughton Properties Limited and Rapido Restaurants Limited were £135,000, £108,913 and £173,100 respectively. These loans are unsecured, interest free and are repayable on demand. These companies are controlled by G Crolla,

At the year end the director, G Crolla has given the company a loan of £27,600. This loan is interest free, unsecured and is repayable on demand.