REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 MARCH 2022 TO 31 MAY 2023 |
FOR |
TUTTO RESTAURANTS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 MARCH 2022 TO 31 MAY 2023 |
FOR |
TUTTO RESTAURANTS LTD |
TUTTO RESTAURANTS LTD (REGISTERED NUMBER: 13948727) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 MARCH 2022 TO 31 MAY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
TUTTO RESTAURANTS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 2 MARCH 2022 TO 31 MAY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Atlas Chambers |
33 West Street |
Brighton |
East Sussex |
BN1 2RE |
TUTTO RESTAURANTS LTD (REGISTERED NUMBER: 13948727) |
BALANCE SHEET |
31 MAY 2023 |
Notes | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
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 |
TUTTO RESTAURANTS LTD (REGISTERED NUMBER: 13948727) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 MARCH 2022 TO 31 MAY 2023 |
1. | STATUTORY INFORMATION |
Tutto Restaurants Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Reporting period |
These are the company's first financial statements and are presented for a period longer than one year. The company was incorporated on 2 March 2022 and has a period end of 31 May 2023. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised at the point of sale. Turnover represents the usual trade of a restaurant. |
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. |
Website costs are being amortised evenly over the estimated useful life of five years. |
Tangible fixed assets |
Leasehold improvements | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Taxation |
Taxation for the period comprises current 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 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. |
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. |
TUTTO RESTAURANTS LTD (REGISTERED NUMBER: 13948727) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 MARCH 2022 TO 31 MAY 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The directors acknowledge the net liabilities position and have agreed with the parent company that they will not recall the amounts owed to them. In addition, the parent company has confirmed it will continue to support the company so it is able to fulfil its obligations as they fall due. |
Therefore, the directors believe that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of the approval of these financial statements. The directors have concluded that the going concern basis of preparation of these financial statements is appropriate. |
3. | EMPLOYEES |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Website |
£ |
COST |
Additions |
At 31 May 2023 |
AMORTISATION |
Amortisation for period |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | Plant and | and | Computer |
improvements | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
Additions |
At 31 May 2023 |
DEPRECIATION |
Charge for period |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
TUTTO RESTAURANTS LTD (REGISTERED NUMBER: 13948727) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 MARCH 2022 TO 31 MAY 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Included within other debtors is £5,034 of amounts due from related parties. These amounts are interest free and repayable on demand. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Taxation and social security |
Other creditors |
Included within other creditors is £1,473,772 of amounts owed to related parties. These amounts are interest free and repayable on demand. |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
Between one and five years |
In more than five years |
9. | RELATED PARTY DISCLOSURES |
Companies under common control |
Amount due from |
Amount owed to |
£ | £ |
Opening balance | - | - |
Amounts advanced | 5,034 | 1,628,472 |
Amounts repaid | - | (154,700 | ) |
Closing balance | 5,034 | 1,473,772 |
These balances are included in debtors and creditors respectively. |