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REGISTERED NUMBER: 10272677 (England and Wales)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ARRAS RESTAURANTS LIMITED

ARRAS RESTAURANTS LIMITED (REGISTERED NUMBER: 10272677)

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


ARRAS RESTAURANTS LIMITED

COMPANY INFORMATION
For The Year Ended 31 July 2023







DIRECTORS: Mr M Humphrey
Mrs L Humphrey
Mr A M Humphrey





REGISTERED OFFICE: 5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU





BUSINESS ADDRESS: The Old Coach House
Peasholme Green
York
North Yorkshire
YO1 7PW





REGISTERED NUMBER: 10272677 (England and Wales)





ACCOUNTANTS: Fortus North Limited
Equinox House
Clifton Park, Shipton Road
York
Yorkshire
YO30 5PA

ARRAS RESTAURANTS LIMITED (REGISTERED NUMBER: 10272677)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 57,750 74,250
Tangible assets 5 238,345 285,306
296,095 359,556

CURRENT ASSETS
Stocks 29,241 26,448
Debtors 6 333,244 280,720
Cash at bank and in hand 2,421 18,532
364,906 325,700
CREDITORS
Amounts falling due within one year 7 120,901 106,400
NET CURRENT ASSETS 244,005 219,300
TOTAL ASSETS LESS CURRENT LIABILITIES 540,100 578,856

CREDITORS
Amounts falling due after more than
one year

8

1,906,746

1,677,746
NET LIABILITIES (1,366,646 ) (1,098,890 )

CAPITAL AND RESERVES
Called up share capital 9 300 300
Retained earnings (1,366,946 ) (1,099,190 )
SHAREHOLDERS' FUNDS (1,366,646 ) (1,098,890 )

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 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.

ARRAS RESTAURANTS LIMITED (REGISTERED NUMBER: 10272677)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





Mrs L Humphrey - Director


ARRAS RESTAURANTS LIMITED (REGISTERED NUMBER: 10272677)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 July 2023


1. STATUTORY INFORMATION

Arras Restaurants 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 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - 10% on cost
Plant & Equipment - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 Income Statement, 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.

The company has estimated losses of £1,457,022 available to carry forward against future trading profit.

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.

ARRAS RESTAURANTS LIMITED (REGISTERED NUMBER: 10272677)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 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.

Debtors and creditors receivable / payable within one year
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.

Going concern
The financial statements have been prepared on a going concern basis despite the deficiency of shareholder's funds. The major creditors are the directors who have agreed to continue their support for the company for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 165,000
AMORTISATION
At 1 August 2022 90,750
Charge for year 16,500
At 31 July 2023 107,250
NET BOOK VALUE
At 31 July 2023 57,750
At 31 July 2022 74,250

ARRAS RESTAURANTS LIMITED (REGISTERED NUMBER: 10272677)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023


5. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Plant & Motor Computer
property Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 291,875 420,525 10,850 2,895 726,145
Additions - 55,331 - 208 55,539
Disposals - (13,645 ) - - (13,645 )
At 31 July 2023 291,875 462,211 10,850 3,103 768,039
DEPRECIATION
At 1 August 2022 160,985 269,715 8,812 1,327 440,839
Charge for year 29,237 69,332 509 1,034 100,112
Eliminated on disposal - (11,257 ) - - (11,257 )
At 31 July 2023 190,222 327,790 9,321 2,361 529,694
NET BOOK VALUE
At 31 July 2023 101,653 134,421 1,529 742 238,345
At 31 July 2022 130,890 150,810 2,038 1,568 285,306

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 4,149 5,441
Other debtors 55,064 55,494
VAT - 236
Prepayments and Accrued income 11,506 13,782
70,719 74,953

Amounts falling due after more than one year:
Deferred tax asset 262,525 205,767

Aggregate amounts 333,244 280,720

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 80,199 42,510
Social security and other taxes 6,045 4,493
VAT 6,079 -
Other creditors 1,247 22,094
Directors' current accounts 22,994 32,961
Accrued expenses 4,337 4,342
120,901 106,400

ARRAS RESTAURANTS LIMITED (REGISTERED NUMBER: 10272677)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 July 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Directors loan 1,906,746 1,677,746

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300 Ordinary 1 300 300