Basrai Restaurant (Edinburgh) Limited SC461248 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of a buffet style restaurant. Digita Accounts Production Advanced 6.30.9574.0 true true SC461248 2022-07-01 2023-06-30 SC461248 2023-06-30 SC461248 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC461248 core:ShareCapital 2023-06-30 SC461248 core:CurrentFinancialInstruments 2023-06-30 SC461248 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC461248 core:OtherRelatedParties 2023-06-30 SC461248 bus:SmallEntities 2022-07-01 2023-06-30 SC461248 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC461248 bus:FullAccounts 2022-07-01 2023-06-30 SC461248 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 SC461248 bus:RegisteredOffice 2022-07-01 2023-06-30 SC461248 bus:Director1 2022-07-01 2023-06-30 SC461248 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC461248 bus:Agent1 2022-07-01 2023-06-30 SC461248 core:ComputerEquipment 2022-07-01 2023-06-30 SC461248 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 SC461248 core:LeaseholdImprovements 2022-07-01 2023-06-30 SC461248 core:PlantMachinery 2022-07-01 2023-06-30 SC461248 core:KeyManagementPersonnel 2022-07-01 2023-06-30 SC461248 core:OtherRelatedParties 2022-07-01 2023-06-30 SC461248 countries:Scotland 2022-07-01 2023-06-30 SC461248 2022-06-30 SC461248 core:OtherRelatedParties 2022-06-30 SC461248 2021-07-01 2022-06-30 SC461248 2022-06-30 SC461248 core:RetainedEarningsAccumulatedLosses 2022-06-30 SC461248 core:ShareCapital 2022-06-30 SC461248 core:CurrentFinancialInstruments 2022-06-30 SC461248 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 SC461248 core:OtherRelatedParties 2022-06-30 SC461248 core:OtherRelatedParties 2021-07-01 2022-06-30 SC461248 2021-06-30 SC461248 core:OtherRelatedParties 2021-06-30 iso4217:GBP xbrli:pure

Registration number: SC461248

Basrai Restaurant (Edinburgh) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Basrai Restaurant (Edinburgh) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Basrai Restaurant (Edinburgh) Limited

Company Information

Director

Mr R S Basrai

Registered office

3-7 Beresford Terrace
Ayr
KA7 2ER

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Basrai Restaurant (Edinburgh) Limited
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Basrai Restaurant (Edinburgh) Limited for the year ended 30 June 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Basrai Restaurant (Edinburgh) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Basrai Restaurant (Edinburgh) Limited and state those matters that we have agreed to state to the Board of Directors of Basrai Restaurant (Edinburgh) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Basrai Restaurant (Edinburgh) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Basrai Restaurant (Edinburgh) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Basrai Restaurant (Edinburgh) Limited. You consider that Basrai Restaurant (Edinburgh) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Basrai Restaurant (Edinburgh) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

7 March 2024

 

Basrai Restaurant (Edinburgh) Limited

(Registration number: SC461248)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

1,178

101,177

Cash at bank and in hand

 

1,126

171

 

2,304

101,348

Creditors: Amounts falling due within one year

5

(283,760)

(381,239)

Net liabilities

 

(281,456)

(279,891)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(281,457)

(279,892)

Shareholders' deficit

 

(281,456)

(279,891)

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 March 2024
 

.........................................
Mr R S Basrai
Director

 

Basrai Restaurant (Edinburgh) 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 Scotland.

The address of its registered office is:
3-7 Beresford Terrace
Ayr
KA7 2ER
Scotland

These financial statements were authorised for issue by the director on 7 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

Depreciation

Asset class

Depreciation method and rate

Leasehold improvements

Straight line over the term of the lease

Plant and machinery

15% reducing balance

Fixtures, fittings and equipment

15% reducing balance

Computer equipment

33.33% reducing balance

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.

 

Basrai Restaurant (Edinburgh) Limited

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

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Current

2023
£

2022
£

Other debtors

1,178

101,177

 

1,178

101,177

 

Basrai Restaurant (Edinburgh) Limited

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

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,500

850

Other creditors

282,260

380,389

283,760

381,239

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         
 

Basrai Restaurant (Edinburgh) Limited

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

7

Related party transactions

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

380,389

380,389

Repaid

(98,130)

(98,130)

At end of period

282,259

282,259

2022

Other related parties
£

Total
£

At start of period

384,324

384,324

Repaid

(3,935)

(3,935)

At end of period

380,389

380,389

Terms of loans from related parties

Loans are interest free, unsecured and repayable on demand.