REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 July 2023 |
for |
Oro Restaurant Ltd |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
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: | £ | £ |
Ordinary | £1 | 2 | 2 |
A | £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. |