Silverfin false 31/01/2023 01/02/2022 31/01/2023 Mr D Sutherland 08/12/2009 12 October 2023 The principal activity of the Company during the financial year was that of leasing and consultancy. SC369809 2023-01-31 SC369809 bus:Director1 2023-01-31 SC369809 2022-01-31 SC369809 core:CurrentFinancialInstruments 2023-01-31 SC369809 core:CurrentFinancialInstruments 2022-01-31 SC369809 core:Non-currentFinancialInstruments 2023-01-31 SC369809 core:Non-currentFinancialInstruments 2022-01-31 SC369809 core:ShareCapital 2023-01-31 SC369809 core:ShareCapital 2022-01-31 SC369809 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC369809 core:RetainedEarningsAccumulatedLosses 2022-01-31 SC369809 core:Goodwill 2022-01-31 SC369809 core:Goodwill 2023-01-31 SC369809 core:OtherPropertyPlantEquipment 2022-01-31 SC369809 core:OtherPropertyPlantEquipment 2023-01-31 SC369809 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-01-31 SC369809 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-01-31 SC369809 core:CurrentFinancialInstruments core:Secured 2023-01-31 SC369809 core:Non-currentFinancialInstruments core:Secured 2023-01-31 SC369809 bus:OrdinaryShareClass1 2023-01-31 SC369809 2022-02-01 2023-01-31 SC369809 bus:FullAccounts 2022-02-01 2023-01-31 SC369809 bus:SmallEntities 2022-02-01 2023-01-31 SC369809 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 SC369809 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 SC369809 bus:Director1 2022-02-01 2023-01-31 SC369809 core:Goodwill 2022-02-01 2023-01-31 SC369809 core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 SC369809 2021-02-01 2022-01-31 SC369809 core:CurrentFinancialInstruments 2022-02-01 2023-01-31 SC369809 core:Non-currentFinancialInstruments 2022-02-01 2023-01-31 SC369809 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 SC369809 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC369809 (Scotland)

FIREBIRD RESTAURANT LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH THE REGISTRAR

FIREBIRD RESTAURANT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023

Contents

FIREBIRD RESTAURANT LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2023
FIREBIRD RESTAURANT LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 5,672 7,090
Tangible assets 4 2,634 3,512
Investment property 5 543,638 0
551,944 10,602
Current assets
Debtors 6 0 42,460
Cash at bank and in hand 10,272 126,604
10,272 169,064
Creditors: amounts falling due within one year 7 ( 139,154) ( 38,497)
Net current (liabilities)/assets (128,882) 130,567
Total assets less current liabilities 423,062 141,169
Creditors: amounts falling due after more than one year 8 ( 297,190) ( 26,471)
Net assets 125,872 114,698
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 125,772 114,598
Total shareholder's funds 125,872 114,698

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Firebird Restaurant Limited (registered number: SC369809) were approved and authorised for issue by the Director on 12 October 2023. They were signed on its behalf by:

Mr D Sutherland
Director
FIREBIRD RESTAURANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
FIREBIRD RESTAURANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Firebird Restaurant Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 1321 Argyle Street, Glasgow, G3 8TL, Scotland, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2022 39,581 39,581
At 31 January 2023 39,581 39,581
Accumulated amortisation
At 01 February 2022 32,491 32,491
Charge for the financial year 1,418 1,418
At 31 January 2023 33,909 33,909
Net book value
At 31 January 2023 5,672 5,672
At 31 January 2022 7,090 7,090

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2022 34,129 34,129
At 31 January 2023 34,129 34,129
Accumulated depreciation
At 01 February 2022 30,617 30,617
Charge for the financial year 878 878
At 31 January 2023 31,495 31,495
Net book value
At 31 January 2023 2,634 2,634
At 31 January 2022 3,512 3,512

5. Investment property

Investment property
£
Valuation
As at 01 February 2022 0
Additions 543,638
As at 31 January 2023 543,638

6. Debtors

2023 2022
£ £
Trade debtors 0 6,460
Amounts owed by related parties 0 36,000
0 42,460

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured £ 22,837) 26,366 3,529
Trade creditors 8,220 8,470
Taxation and social security 7,131 19,448
Other creditors 97,437 7,050
139,154 38,497

Amounts included within bank loans are secured by the property to which it relates.

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured £ 274,248) 297,190 26,471

Amounts included within bank loans are secured by the property to which it relates.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts due to key management personnel 96,062 5,800

Interest is charged on the above directors loan at 2% per annum.

Other related party transactions

2023 2022
£ £
Amounts due from other related parties 0 42,460