Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30false2022-07-01No description of principal activity281falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10625713 2022-07-01 2023-06-30 10625713 2021-07-01 2022-06-30 10625713 2023-06-30 10625713 2022-06-30 10625713 c:Director3 2022-07-01 2023-06-30 10625713 d:Buildings d:ShortLeaseholdAssets 2022-07-01 2023-06-30 10625713 d:Buildings d:ShortLeaseholdAssets 2023-06-30 10625713 d:Buildings d:ShortLeaseholdAssets 2022-06-30 10625713 d:FurnitureFittings 2022-07-01 2023-06-30 10625713 d:FurnitureFittings 2023-06-30 10625713 d:FurnitureFittings 2022-06-30 10625713 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10625713 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 10625713 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 10625713 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-06-30 10625713 d:OtherResidualIntangibleAssets 2022-07-01 2023-06-30 10625713 d:CurrentFinancialInstruments 2023-06-30 10625713 d:CurrentFinancialInstruments 2022-06-30 10625713 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10625713 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 10625713 d:ShareCapital 2023-06-30 10625713 d:ShareCapital 2022-06-30 10625713 d:RetainedEarningsAccumulatedLosses 2023-06-30 10625713 d:RetainedEarningsAccumulatedLosses 2022-06-30 10625713 c:OrdinaryShareClass1 2022-07-01 2023-06-30 10625713 c:OrdinaryShareClass1 2023-06-30 10625713 c:OrdinaryShareClass1 2022-06-30 10625713 c:FRS102 2022-07-01 2023-06-30 10625713 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 10625713 c:FullAccounts 2022-07-01 2023-06-30 10625713 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10625713 d:CopyrightsPatentsTrademarksServiceOperatingRights d:ExternallyAcquiredIntangibleAssets 2022-07-01 2023-06-30 10625713 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10625713









SBR HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
SBR HOLDINGS LIMITED
REGISTERED NUMBER: 10625713

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
95,478
-

Tangible assets
 5 
1,143,430
-

  
1,238,908
-

Current assets
  

Stocks
  
19,956
-

Debtors: amounts falling due within one year
 6 
56,938
-

Cash at bank and in hand
 7 
105,500
1

  
182,394
1

Creditors: amounts falling due within one year
 8 
(1,401,406)
-

Net current (liabilities)/assets
  
 
 
(1,219,012)
 
 
1

Total assets less current liabilities
  
19,896
1

  

Net assets
  
19,896
1


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
19,895
-

  
19,896
1


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 March 2024.
Page 1

 
SBR HOLDINGS LIMITED
REGISTERED NUMBER: 10625713
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023



Skandar Zaman
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SBR HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

SBR Holdings Limited is a private company limited by share capital, incorporated in England and Wales, registration number 10625713. The address of the registered office is 1e Finsbury Park Road, London
N4 2LA.
The principal activity of the company is that of operating as a KFC franchisee.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors have confirmed that the company is able to trade as a going concern through the support of related company loans. The Directors confirm that the loans will not be repayable should it impact the going concern and working capital of the company.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The sale of food and beverages is recognised at the point of sale.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
SBR HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Franchise fees
-
10
years

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Over the term of the lease 10-20 years
Fixtures and fittings
-
20% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
SBR HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
SBR HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

2023
2022
£
£

Wages and salaries
239,398
-

Social security costs
11,437
-

Cost of defined contribution scheme
1,825
-

252,660
-


The average monthly number of employees, including directors, during the year was 28 (2022 - 1).

Page 6

 
SBR HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Intangible assets




Franchise fees

£



Cost


Additions
99,186



At 30 June 2023

99,186



Amortisation


Charge for the year on owned assets
3,708



At 30 June 2023

3,708



Net book value



At 30 June 2023
95,478



At 30 June 2022
-



Page 7

 
SBR HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Short-term leasehold property
Fixtures, fittings and equipment
Total

£
£
£



Cost or valuation


Additions
151,011
1,071,112
1,222,123



At 30 June 2023

151,011
1,071,112
1,222,123



Depreciation


Charge for the year on owned assets
2,529
76,164
78,693



At 30 June 2023

2,529
76,164
78,693



Net book value



At 30 June 2023
148,482
994,948
1,143,430



At 30 June 2022
-
-
-


6.


Debtors

2023
2022
£
£


Trade debtors
5,970
-

Other debtors
10,447
-

Prepayments and accrued income
40,521
-

56,938
-



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
105,500
1

105,500
1


Page 8

 
SBR HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
538,474
-

Other taxation and social security
6,922
-

Other creditors
816,392
-

Accruals and deferred income
39,618
-

1,401,406
-



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £0.001 each
1.000
1.000



10.


Related party transactions

Included within Other Creditors due in less than one year is a loan amount of £815,178 (2022: £nil) due to a company which is under the control of a company director and shareholder. The loan is unsecured, free of interest and repayable on demand.

 
Page 9