Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-3142trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-10-01falseThe principal activity of the company continued to be that of owning and running of a restaurant47true 04286742 2021-10-01 2023-03-31 04286742 2020-10-01 2021-09-30 04286742 2023-03-31 04286742 2021-09-30 04286742 c:Director1 2021-10-01 2023-03-31 04286742 d:Buildings d:ShortLeaseholdAssets 2021-10-01 2023-03-31 04286742 d:Buildings d:ShortLeaseholdAssets 2023-03-31 04286742 d:Buildings d:ShortLeaseholdAssets 2021-09-30 04286742 d:MotorVehicles 2021-10-01 2023-03-31 04286742 d:MotorVehicles 2023-03-31 04286742 d:MotorVehicles 2021-09-30 04286742 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-10-01 2023-03-31 04286742 d:FurnitureFittings 2021-10-01 2023-03-31 04286742 d:FurnitureFittings 2023-03-31 04286742 d:FurnitureFittings 2021-09-30 04286742 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-10-01 2023-03-31 04286742 d:OfficeEquipment 2021-10-01 2023-03-31 04286742 d:OfficeEquipment 2023-03-31 04286742 d:OfficeEquipment 2021-09-30 04286742 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-10-01 2023-03-31 04286742 d:OwnedOrFreeholdAssets 2021-10-01 2023-03-31 04286742 d:CurrentFinancialInstruments 2023-03-31 04286742 d:CurrentFinancialInstruments 2021-09-30 04286742 d:Non-currentFinancialInstruments 2023-03-31 04286742 d:Non-currentFinancialInstruments 2021-09-30 04286742 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04286742 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 04286742 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04286742 d:Non-currentFinancialInstruments d:AfterOneYear 2021-09-30 04286742 d:ShareCapital 2023-03-31 04286742 d:ShareCapital 2021-09-30 04286742 d:RetainedEarningsAccumulatedLosses 2023-03-31 04286742 d:RetainedEarningsAccumulatedLosses 2021-09-30 04286742 c:OrdinaryShareClass1 2021-10-01 2023-03-31 04286742 c:OrdinaryShareClass1 2023-03-31 04286742 c:OrdinaryShareClass1 2021-09-30 04286742 c:OrdinaryShareClass2 2021-10-01 2023-03-31 04286742 c:OrdinaryShareClass2 2023-03-31 04286742 c:OrdinaryShareClass2 2021-09-30 04286742 c:OrdinaryShareClass3 2021-10-01 2023-03-31 04286742 c:OrdinaryShareClass3 2023-03-31 04286742 c:OrdinaryShareClass3 2021-09-30 04286742 c:FRS102 2021-10-01 2023-03-31 04286742 c:AuditExempt-NoAccountantsReport 2021-10-01 2023-03-31 04286742 c:FullAccounts 2021-10-01 2023-03-31 04286742 c:PrivateLimitedCompanyLtd 2021-10-01 2023-03-31 04286742 7 2021-10-01 2023-03-31 04286742 e:PoundSterling 2021-10-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04286742














FRANDEK LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2023

 
FRANDEK LIMITED
REGISTERED NUMBER:04286742

BALANCE SHEET
AS AT 31 MARCH 2023

31 March
30 September
2023
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
299,008
287,134

  
299,008
287,134

Current assets
  

Stocks
 5 
33,384
39,564

Debtors: amounts falling due after more than one year
 6 
48,165
25,704

Debtors: amounts falling due within one year
 6 
1,465,039
1,418,931

Cash at bank and in hand
 7 
64,003
353,861

  
1,610,591
1,838,060

Creditors: amounts falling due within one year
 8 
(1,551,879)
(1,616,387)

Net current assets
  
 
 
58,712
 
 
221,673

Total assets less current liabilities
  
357,720
508,807

Creditors: amounts falling due after more than one year
 9 
(20,248)
(29,898)

Provisions for liabilities
  

Deferred tax
  
(32,886)
(30,759)

  
 
 
(32,886)
 
 
(30,759)

Net assets
  
304,586
448,150


Capital and reserves
  

Called up share capital 
 10 
135,100
135,100

Profit and loss account
  
169,486
313,050

  
304,586
448,150


Page 1

 
FRANDEK LIMITED
REGISTERED NUMBER:04286742
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M H Tillman
Director

Date: 9 February 2024

Page 2

 
FRANDEK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Frandek Limited is a private company, limited by shares, registered in England and Wales, registration number 04286742. The registered office address is 18 Bristol Gardens, London, W9 2JQ.
The principal activity of the company continued to be that of owning and running of a restaurant.
On 20 June 2023, the company extended its accounting reference date from 30 September 2022 to 31 March 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

  
2.2

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Turnover from the owning and running of a restaurant is recognised when it is probable the business will receive the rights to the consideration due under the contract.
Turnover from the sale of food and beverages is recognised when the goods have been provided.

 
2.4

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the profit and loss accounts in the same period as the related expenditure. Grants received in respect of Coronavirus Job Retention Scheme and Local Authority grants are included in other income.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. 

Page 3

 
FRANDEK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
FRANDEK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.9
 Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Short-term leasehold property
-
straight-line over 10 years
Motor vehicles
-
20% straight-line
Fixtures and fittings
-
20% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

 Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.15

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, loans from other third parties and loans with related parties.

Page 5

 
FRANDEK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 42 (2021 - 47). 


4.


Tangible fixed assets







Leasehold property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost


At 1 October 2021
564,348
53,750
1,200,333
96,207
1,914,638


Additions
16,161
-
97,402
15,085
128,648



At 31 March 2023

580,509
53,750
1,297,735
111,292
2,043,286



Depreciation


At 1 October 2021
564,348
4,479
967,392
91,285
1,627,504


Charge for the period
2,020
16,125
96,743
1,886
116,774



At 31 March 2023

566,368
20,604
1,064,135
93,171
1,744,278



Net book value



At 31 March 2023
14,141
33,146
233,600
18,121
299,008



At 30 September 2021
-
49,271
232,941
4,922
287,134


5.


Stocks

31 March
30 September
2023
2021
£
£

Food and beverage stock
33,384
39,564


Page 6

 
FRANDEK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

6.


Debtors

31 March
30 September
2023
2021
£
£

Due after more than one year

Other debtors
48,165
25,704


31 March
30 September
2023
2021
£
£

Due within one year

Trade debtors
4,426
224

Amounts owed by connected entities
1,275,696
1,385,062

Other debtors
175,262
19,442

Prepayments and accrued income
9,655
14,203

1,465,039
1,418,931



7.


Cash

31 March
30 September
2023
2021
£
£

Cash at bank and in hand
64,003
353,861



8.


Creditors: amounts falling due within one year

31 March
30 September
2023
2021
£
£

Trade creditors
198,692
217,641

Amounts owed to group undertakings
293,904
327,336

Amounts owed to connected entities
799,231
508,086

Corporation tax
410
18,116

Other taxation and social security
26,954
106,363

Obligations under finance lease and hire purchase contracts
6,433
9,676

Other creditors
111,773
110,283

Accruals
114,482
318,886

1,551,879
1,616,387


HSBC Bank PLC holds a floating and fixed charge which contains a negative pledge over the assets of the company in respect of all the amount due from the company which was satisfied in the period.
 
Page 7

 
FRANDEK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

9.


Creditors: amounts falling due after more than one year

31 March
30 September
2023
2021
£
£

Net obligations under finance leases and hire purchase contracts
20,248
29,898



10.


Share capital

31 March
30 September
2023
2021
£
£
Allotted, called up and fully paid



10,000 (2021 -10,000) ordinary shares of £0.01 each
100
100
3,500,000 (2021 -3,500,000) B ordinary shares of £0.01 each
35,000
35,000
100,000 (2021 -100,000) redeemable preference shares of £1.00 each
100,000
100,000

135,100

135,100

All shares have the full voting rights.


11.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £16,690 (2021 -£10,104). Included in other creditors at the period end there is an amount payable of £3,889 (2021 - £8,081).


12.


Commitments under operating leases

At 31 March 2023 the company had future minimum lease payments due under non-cancellable operating leases of £62,115 (2021 - £6,230,425)



13.


Controlling party

The company is owned by Frandek Holdings Limited and is ultimately controlled by M H Tillman, a director and a majority shareholder of the parent company.

 
Page 8