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REGISTERED NUMBER: 11384499 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

OT Restaurant Limited

OT Restaurant Limited (Registered number: 11384499)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OT Restaurant Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: A K F Yip





REGISTERED OFFICE: Treasure House
Greengate Industrial Estate
Greenside Way
Middleton
M24 1SW





REGISTERED NUMBER: 11384499 (England and Wales)





ACCOUNTANTS: Lucas Reis Ltd
Chartered Accountants
Lansdowne House
85 Buxton Road
Stockport
Cheshire
SK2 6LR

OT Restaurant Limited (Registered number: 11384499)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 20,777 24,443
Investment property 6 99,445 99,445
120,222 123,888

CURRENT ASSETS
Stocks 5,325 6,468
Debtors 7 251,296 3,600
Cash at bank and in hand 147,242 300,145
403,863 310,213
CREDITORS
Amounts falling due within one year 8 256,735 157,007
NET CURRENT ASSETS 147,128 153,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

267,350

277,094

CREDITORS
Amounts falling due after more than one
year

9

(20,100

)

(29,848

)

PROVISIONS FOR LIABILITIES (3,948 ) (4,644 )
NET ASSETS 243,302 242,602

OT Restaurant Limited (Registered number: 11384499)

Balance Sheet - continued
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 243,202 242,502
SHAREHOLDERS' FUNDS 243,302 242,602

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 January 2024 and were signed by:





A K F Yip - Director


OT Restaurant Limited (Registered number: 11384499)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

OT Restaurant Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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.

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

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.


OT Restaurant Limited (Registered number: 11384499)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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 43 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 15,000
AMORTISATION
At 1 June 2022
and 31 May 2023 15,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

OT Restaurant Limited (Registered number: 11384499)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 30,686
DEPRECIATION
At 1 June 2022 6,243
Charge for year 3,666
At 31 May 2023 9,909
NET BOOK VALUE
At 31 May 2023 20,777
At 31 May 2022 24,443

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 99,445
NET BOOK VALUE
At 31 May 2023 99,445
At 31 May 2022 99,445

The property has been valued by the director at open market value. The value at the year end is the same as the original cost of purchase.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 1,296 -
Other debtors 250,000 -
Prepayments and accrued income - 3,600
251,296 3,600

OT Restaurant Limited (Registered number: 11384499)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 110,383 42,712
Tax 1,203 47,944
Social security and other taxes 8,816 3,548
VAT 53,206 39,847
Other creditors 1,267 583
Accruals and deferred income 71,212 11,725
256,735 157,007

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans - 1-2 years 10,648 10,648
Bank loans - 2-5 years 9,452 19,200
20,100 29,848

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100