Registered number
10818067
Chapter One Restaurant Limited
Filleted Accounts
31 July 2023
Chapter One Restaurant Limited
Registered number: 10818067
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 492,129 553,799
Current assets
Stocks 50,385 47,322
Debtors 4 10,174 9,455
Cash at bank and in hand 531,360 651,398
591,919 708,175
Creditors: amounts falling due within one year 5 (448,493) (467,774)
Net current assets 143,426 240,401
Total assets less current liabilities 635,555 794,200
Creditors: amounts falling due after more than one year 6 (120,620) (231,293)
Provisions for liabilities (91,526) (102,809)
Net assets 423,409 460,098
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 422,409 459,098
Shareholders' funds 423,409 460,098
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Faulstich
Director
Approved by the board on 23 November 2023
Chapter One Restaurant Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 40 42
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 794,135
Additions 14,062
At 31 July 2023 808,197
Depreciation
At 1 August 2022 240,336
Charge for the year 75,732
At 31 July 2023 316,068
Net book value
At 31 July 2023 492,129
At 31 July 2022 553,799
4 Debtors 2023 2022
£ £
Trade debtors 191 3,783
Other debtors 9,983 5,672
10,174 9,455
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 214,802 217,153
Amounts owed to group undertakings and undertakings in which the company has a participating interest 78,319 60,966
Taxation and social security costs 106,461 141,755
Other creditors 38,911 37,900
448,493 467,774
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,620 31,293
Amounts owed to group undertakings and undertakings in which the company has a participating interest 100,000 200,000
120,620 231,293
7 Controlling party
The company is under the control of Simply Chapters Limited, a company registered in England, who owns 99.6% of the issued share capital.
8 Other information
Chapter One Restaurant Limited is a private company limited by shares and incorporated in England. Its registered office is: Office K., The Dutch Barn, Ford End.
Chapter One Restaurant Limited 10818067 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 M Faulstich No description of principal activity 10818067 2021-08-01 2022-07-31 10818067 core:WithinOneYear 2022-07-31 10818067 core:AfterOneYear 2022-07-31 10818067 core:ShareCapital 2022-07-31 10818067 core:RetainedEarningsAccumulatedLosses 2022-07-31 10818067 2022-08-01 2023-07-31 10818067 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10818067 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10818067 bus:Director40 2022-08-01 2023-07-31 10818067 2 2022-08-01 2023-07-31 10818067 core:PlantMachinery 2022-08-01 2023-07-31 10818067 countries:England 2022-08-01 2023-07-31 10818067 bus:FRS102 2022-08-01 2023-07-31 10818067 bus:FullAccounts 2022-08-01 2023-07-31 10818067 2023-07-31 10818067 core:WithinOneYear 2023-07-31 10818067 core:AfterOneYear 2023-07-31 10818067 core:ShareCapital 2023-07-31 10818067 core:RetainedEarningsAccumulatedLosses 2023-07-31 10818067 core:PlantMachinery 2023-07-31 10818067 2022-07-31 10818067 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure