Kiku Restaurants Limited 02696662 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of restauranteurs Digita Accounts Production Advanced 6.30.9574.0 true 02696662 2022-07-01 2023-06-30 02696662 2023-06-30 02696662 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-06-30 02696662 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 02696662 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 02696662 core:CurrentFinancialInstruments 2023-06-30 02696662 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 02696662 core:Non-currentFinancialInstruments 2023-06-30 02696662 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 02696662 core:FurnitureFittingsToolsEquipment 2023-06-30 02696662 core:LandBuildings 2023-06-30 02696662 core:MotorVehicles 2023-06-30 02696662 bus:SmallEntities 2022-07-01 2023-06-30 02696662 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 02696662 bus:FullAccounts 2022-07-01 2023-06-30 02696662 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 02696662 bus:RegisteredOffice 2022-07-01 2023-06-30 02696662 bus:CompanySecretaryDirector2 2022-07-01 2023-06-30 02696662 bus:Director1 2022-07-01 2023-06-30 02696662 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-07-01 2023-06-30 02696662 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02696662 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 02696662 core:LandBuildings 2022-07-01 2023-06-30 02696662 core:MotorVehicles 2022-07-01 2023-06-30 02696662 countries:EnglandWales 2022-07-01 2023-06-30 02696662 2022-06-30 02696662 core:FurnitureFittingsToolsEquipment 2022-06-30 02696662 core:LandBuildings 2022-06-30 02696662 core:MotorVehicles 2022-06-30 02696662 2021-07-01 2022-06-30 02696662 2022-06-30 02696662 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-06-30 02696662 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-06-30 02696662 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-06-30 02696662 core:CurrentFinancialInstruments 2022-06-30 02696662 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 02696662 core:Non-currentFinancialInstruments 2022-06-30 02696662 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 02696662 core:FurnitureFittingsToolsEquipment 2022-06-30 02696662 core:LandBuildings 2022-06-30 02696662 core:MotorVehicles 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02696662

Kiku Restaurants Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Kiku Restaurants Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Kiku Restaurants Limited

Company Information

Directors

Mr H Taoka

Mrs M Taoka

Company secretary

Mrs M Taoka

Registered office

42-46 Station Road
Edgware
Middlesex
HA8 7AB

Accountants

Richlands Business Advisers Limited
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Kiku Restaurants Limited

(Registration number: 02696662)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

30,197

49,800

Current assets

 

Stocks

5

17,387

16,459

Debtors

6

97,722

103,349

Cash at bank and in hand

 

1,022,357

1,014,534

 

1,137,466

1,134,342

Creditors: Amounts falling due within one year

7

(325,663)

(307,023)

Net current assets

 

811,803

827,319

Total assets less current liabilities

 

842,000

877,119

Creditors: Amounts falling due after more than one year

7

(19,248)

(55,553)

Provisions for liabilities

(5,896)

(5,896)

Net assets

 

816,856

815,670

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

816,756

815,570

Shareholders' funds

 

816,856

815,670

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Kiku Restaurants Limited

(Registration number: 02696662)
Balance Sheet as at 30 June 2023

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 February 2024 and signed on its behalf by:
 

.........................................

Mr H Taoka
Director

 

Kiku Restaurants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
42-46 Station Road
Edgware
Middlesex
HA8 7AB
England

These financial statements were authorised for issue by the Board on 26 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kiku Restaurants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Improvements

Over term of lease

Fixtures, fittings and equipment

25% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Kiku Restaurants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Kiku Restaurants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 41 (2022 - 38).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

419,351

225,672

63,791

708,814

Additions

-

258

-

258

At 30 June 2023

419,351

225,930

63,791

709,072

Depreciation

At 1 July 2022

407,253

222,012

29,749

659,014

Charge for the year

2,016

1,918

15,927

19,861

At 30 June 2023

409,269

223,930

45,676

678,875

Carrying amount

At 30 June 2023

10,082

2,000

18,115

30,197

At 30 June 2022

12,098

3,660

34,042

49,800

Included within the net book value of land and buildings above is £10,082 (2022 - £12,098) in respect of long leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Raw materials and consumables

17,387

16,459

6

Debtors

2023
£

2022
£

Trade debtors

42,456

44,316

Other debtors

2,391

6,568

Prepayments

52,875

52,465

Total current trade and other debtors

97,722

103,349

 

Kiku Restaurants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

5,298

14,798

Trade creditors

 

49,830

37,491

Taxation and social security

 

131,077

126,950

Other creditors

 

1,419

538

Accrued expenses

 

4,500

4,500

Corporation tax payable

 

126,005

116,214

Directors current account

 

7,534

6,532

 

325,663

307,023

Due after one year

 

Loans and borrowings

9

19,248

55,553

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

         
 

Kiku Restaurants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

31,014

Hire purchase contracts

19,248

24,539

19,248

55,553

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

9,493

Hire purchase contracts

5,298

5,305

5,298

14,798

10

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £4,700.00 (2022 - £3,400.00) per ordinary share

 

470,000

 

340,000

         

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

20,000

20,000