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REGISTERED NUMBER: SC616066 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Gelato Burger (Oban) Limited

Gelato Burger (Oban) Limited (Registered number: SC616066)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gelato Burger (Oban) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Peter Crolla
Peter A Crolla





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC616066 (Scotland)





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

Gelato Burger (Oban) Limited (Registered number: SC616066)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 171,944 200,917

CURRENT ASSETS
Stock 16,483 18,181
Debtors 5 92,026 81,093
Cash at bank and in hand 15,484 20,713
123,993 119,987
CREDITORS
Amounts falling due within one year 6 552,887 527,594
NET CURRENT LIABILITIES (428,894 ) (407,607 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(256,950

)

(206,690

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (257,050 ) (206,790 )
SHAREHOLDERS' FUNDS (256,950 ) (206,690 )

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

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

Gelato Burger (Oban) Limited (Registered number: SC616066)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:





Peter A Crolla - Director


Gelato Burger (Oban) Limited (Registered number: SC616066)

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

1. STATUTORY INFORMATION

Gelato Burger (Oban) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fittings and equipment - 15% on reducing balance

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Gelato Burger (Oban) Limited (Registered number: SC616066)

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

2. ACCOUNTING POLICIES - continued

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 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fittings
to and
property equipment Totals
£    £    £   
COST
At 1 January 2023 99,407 248,146 347,553
Additions - 1,370 1,370
At 31 December 2023 99,407 249,516 348,923
DEPRECIATION
At 1 January 2023 43,721 102,915 146,636
Charge for year 8,353 21,990 30,343
At 31 December 2023 52,074 124,905 176,979
NET BOOK VALUE
At 31 December 2023 47,333 124,611 171,944
At 31 December 2022 55,686 145,231 200,917

Gelato Burger (Oban) Limited (Registered number: SC616066)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Improvements
to
property
£   
COST
At 1 January 2023
and 31 December 2023 99,407
DEPRECIATION
At 1 January 2023
and 31 December 2023 43,721
NET BOOK VALUE
At 31 December 2023 55,686
At 31 December 2022 55,686

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 72,327 49,196
Other debtors 19,699 31,897
92,026 81,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,240 27,100
Amounts owed to group undertakings 488,740 487,030
Taxation and social security 30,829 5,890
Other creditors 5,078 7,574
552,887 527,594

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

Gelato Burger (Oban) Limited (Registered number: SC616066)

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

8. ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Gelato Burgers (Holdings) Ltd.