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REGISTERED NUMBER: SC162515 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

GORDON'S TRATTORIA (EDINBURGH) LIMITED

GORDON'S TRATTORIA (EDINBURGH) LIMITED (REGISTERED NUMBER: SC162515)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GORDON'S TRATTORIA (EDINBURGH) LIMITED

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTORS: M H Scott
G M Scott
D Scott





SECRETARY: M H Scott





REGISTERED OFFICE: Q Court
3 Quality Street
Edinburgh
EH4 5BP





REGISTERED NUMBER: SC162515 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

GORDON'S TRATTORIA (EDINBURGH) LIMITED (REGISTERED NUMBER: SC162515)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,409 51,496

CURRENT ASSETS
Stocks 7,313 5,000
Debtors 5 150,697 148,592
Cash at bank and in hand 8,173 10,090
166,183 163,682
CREDITORS
Amounts falling due within one year 6 251,178 168,373
NET CURRENT LIABILITIES (84,995 ) (4,691 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(39,586

)

46,805

CREDITORS
Amounts falling due after more than one
year

7

(24,170

)

(34,022

)

PROVISIONS FOR LIABILITIES 9 (8,628 ) (11,325 )
NET (LIABILITIES)/ASSETS (72,384 ) 1,458

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings (72,386 ) 1,456
SHAREHOLDERS' FUNDS (72,384 ) 1,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

GORDON'S TRATTORIA (EDINBURGH) LIMITED (REGISTERED NUMBER: SC162515)

BALANCE SHEET - continued
31 January 2023


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





G M Scott - Director


GORDON'S TRATTORIA (EDINBURGH) LIMITED (REGISTERED NUMBER: SC162515)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Gordon's Trattoria (Edinburgh) Limited 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.

At the period end the company had net liabilities of £72,384 (2022 - net assets of £1,458). The company continues to be supported by the Directors who provide funding for operations. The operational funding support is expected to continue for a period of at least one year after the date of signing the financial statements.

TURNOVER
Turnover represents the consideration received or receivable, excluding value added tax, relating to the operation of a restaurant.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% per annum reducing balance

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

GOVERNMENT GRANTS
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. Job Retention Scheme grants relates to staff that have been furloughed due to the COVID-19 pandemic. The Small Business grants relates to assistance with business costs due to the COVID-19 pandemic.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

GORDON'S TRATTORIA (EDINBURGH) LIMITED (REGISTERED NUMBER: SC162515)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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 creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HIRE PURCHASE AND LEASING COMMITMENTS
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 20 ) .

GORDON'S TRATTORIA (EDINBURGH) LIMITED (REGISTERED NUMBER: SC162515)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 2022 308,425
Additions 1,874
At 31 January 2023 310,299
DEPRECIATION
At 1 February 2022 256,929
Charge for year 7,961
At 31 January 2023 264,890
NET BOOK VALUE
At 31 January 2023 45,409
At 31 January 2022 51,496

Tangible fixed assets with a carrying value of £45,409 (2022 - £51,496) are pledged as security for company's overdraft.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 150,697 148,592

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 52,874 9,666
Trade creditors 30,918 27,459
Taxation and social security 93,834 51,740
Other creditors 73,552 79,508
251,178 168,373

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 24,170 34,022

GORDON'S TRATTORIA (EDINBURGH) LIMITED (REGISTERED NUMBER: SC162515)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 43,086 -
Bank loans 33,958 43,688
77,044 43,688

The Royal Bank of Scotland holds a bond and floating charge over the assets of the company.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 8,628 11,325

Deferred
tax
£   
Balance at 1 February 2022 11,325
Credit to Statement of Income and Retained Earnings during year (2,697 )
Balance at 31 January 2023 8,628

10. CALLED UP SHARE CAPITAL

**ERROR - CONFLICTS FOUND BETWEEN POSTINGS AND SHARE REGISTER - PLEASE REVIEW EXCEPTION REPORT (EXR).


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
NIL Ordinary £1 - 2
(2022 - 2 )
96 Ordinary A 1p 1 -
96 Ordinary B 1p 1 -
8 Ordinary C 1p - -
2 2

During the year, there was a share restructure which resulted in Ordinary shares being split into A Ordinary, B Ordinary shares and C Ordinary shares.

GORDON'S TRATTORIA (EDINBURGH) LIMITED (REGISTERED NUMBER: SC162515)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
G M Scott and M H Scott
Balance outstanding at start of year 96,218 69,750
Amounts advanced 44,240 79,109
Amounts repaid (40,810 ) (52,641 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 99,648 96,218

The loan attracts interest of 2% per annum on overdrawn balances over £10,000. No fixed terms terms of repayment have been agreed.