Chase Restaurants Ltd
Registered number: 05319384
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 648,509 704,690
Current assets
Stocks 122,488 132,369
Debtors 4 62,732 52,320
Cash at bank and in hand 690,787 505,351
876,007 690,040
Creditors: amounts falling due within one year 5 (546,154) (430,981)
Net current assets 329,853 259,059
Total assets less current liabilities 978,362 963,749
Creditors: amounts falling due after more than one year 6 - (180,921)
Provisions for liabilities (22,900) (33,900)
Net assets 955,462 748,928
Capital and reserves
Called up share capital 100 100
Profit and loss account 955,362 748,828
Shareholder's funds 955,462 748,928
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 member has 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.
N Segal
Director
Approved by the board on 23 August 2023
Chase Restaurants Ltd
Notes to the Accounts
for the year ended 31 December 2022
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 value added tax, from the sale of goods and services.
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, 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 market value.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the accounts and their inclusion in tax assessments. 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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 55 48
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2022 504,936 1,093,223 49,309 1,647,468
Additions - 10,538 - 10,538
At 31 December 2022 504,936 1,103,761 49,309 1,658,006
Depreciation
At 1 January 2022 - 894,125 48,653 942,778
Charge for the year - 66,063 656 66,719
At 31 December 2022 - 960,188 49,309 1,009,497
Net book value
At 31 December 2022 504,936 143,573 - 648,509
At 31 December 2021 504,936 199,098 656 704,690
4 Debtors 2022 2021
£ £
Trade debtors 814 1,275
Other debtors 61,918 51,045
62,732 52,320
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 95,100 60,522
Corporation tax 83,230 67,539
Other taxes and social security costs 156,107 126,843
Other creditors 211,717 176,077
546,154 430,981
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans - 180,921
7 Loans 2022 2021
£ £
Creditors include:
Secured bank loans - 514,477
8 Controlling party
The company is a subsidiary of Passage Properties Ltd, which registered office and principal place of business is:
106 Islington High Street
London
N1 8EG
9 Other information
Chase Restaurants Ltd is a private company limited by shares and incorporated in England. Its registered office is:
106 Islington High Street
London
N1 8EG
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