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REGISTERED NUMBER: SC221587 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Oro Restaurant Ltd

Oro Restaurant Ltd (Registered number: SC221587)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oro Restaurant Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Dominic Crolla





SECRETARY: Genoveffa Crolla





REGISTERED OFFICE: 85 Kilmarnock Road
Glasgow
G41 3YR





REGISTERED NUMBER: SC221587 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Oro Restaurant Ltd (Registered number: SC221587)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stock 18,200 17,800
Debtors 4 26,555 46,235
Cash at bank and in hand 1,055,254 559,004
1,100,009 623,039
CREDITORS
Amounts falling due within one year 5 1,099,827 622,374
NET CURRENT ASSETS 182 665
TOTAL ASSETS LESS CURRENT
LIABILITIES

182

665

CAPITAL AND RESERVES
Called up share capital 7 4 4
Retained earnings 178 661
SHAREHOLDERS' FUNDS 182 665

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

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

Oro Restaurant Ltd (Registered number: SC221587)

Balance Sheet - continued
31 July 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 director and authorised for issue on 21 February 2024 and were signed by:





Dominic Crolla - Director


Oro Restaurant Ltd (Registered number: SC221587)

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

1. STATUTORY INFORMATION

Oro Restaurant Ltd 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.

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.

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

Financial instruments
Basic financial instruments, including 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 administrative expenses.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2022 - 57 ) .

Oro Restaurant Ltd (Registered number: SC221587)

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,823 33,606
Other debtors 10,732 12,629
26,555 46,235

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 86,083 76,005
Taxation and social security 139,539 153,810
Other creditors 874,205 392,559
1,099,827 622,374

6. SECURED DEBTS



There exists in respect of group borrowings a Cross Corporate Guarantee and a Bond and Floating Charge over the assets of the company.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2
1 A £1 1 1
1 B £1 1 1
4 4

8. RELATED PARTY DISCLOSURES

Crolpia Limited
Parent undertaking

The company has the use of fittings and equipment belonging to the parent company at nil cost. During the year it paid rentals of £47,500 (2022 - £47,500) to the parent company in respect of the premises from which it trades. It also incurred a management charge of £373,843 (2022 - £438,411) from the parent company.

9. ULTIMATE / PARENT CONTROLLING PARTY

The company is the wholly owned subsidiary of Crolpia Limited, a company registered in Scotland. Crolpia Limited is under the control of Dominic Crolla.