Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Mr Samuel Carter 04/10/2017 Ms Alexandra Olivier 04/10/2017 23 July 2024 The principal activity of the company continued to be that of a licensed restaurant. 10996490 2023-10-31 10996490 bus:Director1 2023-10-31 10996490 bus:Director2 2023-10-31 10996490 2022-10-31 10996490 core:CurrentFinancialInstruments 2023-10-31 10996490 core:CurrentFinancialInstruments 2022-10-31 10996490 core:Non-currentFinancialInstruments 2023-10-31 10996490 core:Non-currentFinancialInstruments 2022-10-31 10996490 core:ShareCapital 2023-10-31 10996490 core:ShareCapital 2022-10-31 10996490 core:RetainedEarningsAccumulatedLosses 2023-10-31 10996490 core:RetainedEarningsAccumulatedLosses 2022-10-31 10996490 core:Goodwill 2022-10-31 10996490 core:Goodwill 2023-10-31 10996490 core:OtherPropertyPlantEquipment 2022-10-31 10996490 core:OtherPropertyPlantEquipment 2023-10-31 10996490 2022-11-01 2023-10-31 10996490 bus:FilletedAccounts 2022-11-01 2023-10-31 10996490 bus:SmallEntities 2022-11-01 2023-10-31 10996490 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 10996490 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10996490 bus:Director1 2022-11-01 2023-10-31 10996490 bus:Director2 2022-11-01 2023-10-31 10996490 core:Goodwill core:TopRangeValue 2022-11-01 2023-10-31 10996490 core:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 10996490 2021-11-01 2022-10-31 10996490 core:Goodwill 2022-11-01 2023-10-31 10996490 core:CurrentFinancialInstruments 2022-11-01 2023-10-31 10996490 core:Non-currentFinancialInstruments 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Company No: 10996490 (England and Wales)

RESTAURANT TWENTY TWO LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

RESTAURANT TWENTY TWO LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

RESTAURANT TWENTY TWO LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
RESTAURANT TWENTY TWO LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTORS Mr Samuel Carter
Ms Alexandra Olivier
REGISTERED OFFICE 22 Chesterton Road
Cambridge
United Kingdom
COMPANY NUMBER 10996490 (England and Wales)
ACCOUNTANT Ensors Accountants LLP
Incubator 2
The Boulevard, Enterprise Campus
Alconbury Weald
Huntingdon
PE28 4XA
RESTAURANT TWENTY TWO LIMITED

BALANCE SHEET

As at 31 October 2023
RESTAURANT TWENTY TWO LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 4 31,667 39,267
Tangible assets 5 48,544 41,080
80,211 80,347
Current assets
Stocks 12,295 11,693
Debtors 6 2,228 2,213
Cash at bank and in hand 127,273 161,234
141,796 175,140
Creditors: amounts falling due within one year 7 ( 120,832) ( 137,838)
Net current assets 20,964 37,302
Total assets less current liabilities 101,175 117,649
Creditors: amounts falling due after more than one year 8 ( 25,152) ( 34,759)
Provision for liabilities 9 ( 715) ( 961)
Net assets 75,308 81,929
Capital and reserves
Called-up share capital 100 100
Profit and loss account 75,208 81,829
Total shareholders' funds 75,308 81,929

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Restaurant Twenty Two Limited (registered number: 10996490) were approved and authorised for issue by the Board of Directors on 23 July 2024. They were signed on its behalf by:

Ms Alexandra Olivier
Director
RESTAURANT TWENTY TWO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
RESTAURANT TWENTY TWO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Restaurant Twenty Two Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Chesterton Road, Cambridge, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 22

3. Dividends on equity shares

2023 2022
£ £
Amounts recognised as distributions to equity holders in the financial year:
Final dividend for the financial year ended 31 October 2023 of £760 (2022: £Nil) per ordinary share 76,000 0

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 November 2022 76,000 76,000
At 31 October 2023 76,000 76,000
Accumulated amortisation
At 01 November 2022 36,733 36,733
Charge for the financial year 7,600 7,600
At 31 October 2023 44,333 44,333
Net book value
At 31 October 2023 31,667 31,667
At 31 October 2022 39,267 39,267

5. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 November 2022 83,193 83,193
Additions 19,270 19,270
At 31 October 2023 102,463 102,463
Accumulated depreciation
At 01 November 2022 42,113 42,113
Charge for the financial year 11,806 11,806
At 31 October 2023 53,919 53,919
Net book value
At 31 October 2023 48,544 48,544
At 31 October 2022 41,080 41,080

6. Debtors

2023 2022
£ £
Other debtors 2,228 2,213

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,428 10,435
Trade creditors 31,291 17,387
Taxation and social security 56,056 38,466
Other creditors 23,057 71,550
120,832 137,838

There are no amounts included above in respect of which any security has been given by the small entity.

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 25,152 34,759

There are no amounts included above in respect of which any security has been given by the small entity.

9. Provision for liabilities

2023 2022
£ £
Deferred tax 715 961