Company Registration No. NI621203 (Northern Ireland)
REVOLUTIONARY BURGERS LTD
UNAUDITED FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
REVOLUTIONARY BURGERS LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
REVOLUTIONARY BURGERS LTD
COMPANY INFORMATION
- 1 -
Director
Stephen Hill
Company secretary
Rita Hill
Company number
NI621203
Registered office
Unit 4A Eastpoint Entertainment Village
Old Dundonald Road
Belfast
BT16 1XT
Accountants
Johnston Kennedy DFK
10 Pilots View
Heron Road
Belfast
BT3 9LE
Bankers
Allied Irish Bank
35 University Road
Belfast
BT7 1ND
REVOLUTIONARY BURGERS LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
19,424
8,329
Investments
4
1,142,042
1,142,042
1,161,466
1,150,371
Current assets
Debtors
5
197,360
244,621
Cash at bank and in hand
367
2,065
197,727
246,686
Creditors: amounts falling due within one year
6
(137,750)
(120,349)
Net current assets
59,977
126,337
Total assets less current liabilities
1,221,443
1,276,708
Creditors: amounts falling due after more than one year
7
(71,030)
(135,792)
Deferred Tax
8
(2,600)
(1,400)
Net assets
1,147,813
1,139,516
Capital and reserves
Called up share capital
9
102,500
102,500
Profit and loss reserves
1,045,313
1,037,016
Total equity
1,147,813
1,139,516
The notes on pages 4 to 10 form part of these financial statements
Compiled without audit or independent verification
REVOLUTIONARY BURGERS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 3 -
Director's statement in respect of the financial statements

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard FRS102 1A - Small Entities.

The financial statements were approved and signed by the director and authorised for issue on 31 July 2024
Stephen Hill
..............................
Stephen Hill
Director
Company Registration No. NI621203
The notes on pages 4 to 10 form part of these financial statements
Compiled without audit or independent verification
REVOLUTIONARY BURGERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
1
Accounting policies
Company information

Revolutionary Burgers Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office is Unit 4A Eastpoint Entertainment Village, Old Dundonald Road, Belfast, BT16 1XT.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

The principal accounting policies are set out below.

1.1
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment
15% reducing balance
Motor vehicles
25% reducing balance

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.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

REVOLUTIONARY BURGERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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 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.

Classification of financial liabilities

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.

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.

REVOLUTIONARY BURGERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

 

1.7
Capital instruments

Shares are included in shareholders' funds. Other instruments are classified as liabilities if not included in shareholders funds and if they contain an obligation to transfer economic benefits. The finance cost recognised in the profit and loss account in respect of capital instruments other than equity shares is allocated to periods over the term of the instrument at a constant rate on the carrying amount.

1.8
Dividends
Dividends to the company's ordinary shareholders are recognised as a liability of the company when approved by the company's director.
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
REVOLUTIONARY BURGERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 7 -
3
Tangible fixed assets
Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2022
13,014
-
0
13,014
Additions
5,720
7,700
13,420
At 30 September 2023
18,734
7,700
26,434
Depreciation and impairment
At 1 October 2022
4,685
-
0
4,685
Depreciation charged in the year
1,651
674
2,325
At 30 September 2023
6,336
674
7,010
Carrying amount
At 30 September 2023
12,398
7,026
19,424
At 30 September 2022
8,329
-
0
8,329
REVOLUTIONARY BURGERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
4
Fixed asset investments
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration
Shares held
Proportion
or incorporation
Class
held
Subsidiary undertakings
Big Bubba Burgers Ltd
N Ireland
Ordinary
100%
BTD Restaurants Ltd
N Ireland
Ordinary
100%
Dino Bob's Burgers Ltd
N Ireland
Ordinary
100%
Gourmet Burgers Ireland Limited
N Ireland
Ordinary
100%
Hill Billy Jacks Ltd
N Ireland
Ordinary
100%
WGB Restaurants Ltd
N Ireland
Ordinary
100%
Wolfes Gourmet Burger Company Ltd
N Ireland
Ordinary
100%
Shares in group undertakings
£
Cost or valuation
At 1 October 2022 & 30 September 2023
1,142,042
Carrying amount
At 30 September 2023
1,142,042
At 30 September 2022
1,142,042
5
Debtors
2023
2022
Amounts owed by group undertakings
114,516
56,301
Other debtors
74,995
177,765
Prepayments and accrued income
7,849
10,555
197,360
244,621
2023
2022
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
114,516
56,301
REVOLUTIONARY BURGERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 9 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
68,886
66,113
Trade creditors
31,334
15,852
Accruals and deferred income
7,013
6,529
Other taxation and social security
27,411
26,743
Corporation Tax
3,106
5,112
137,750
120,349
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
71,030
135,792
Loan maturity analysis
In more than one year but not more than two years
-
-
In more than five years
71,030
135,792
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
2,600
1400
2023
Movements in the year:
£
Liability at 1 October 2022
1,400
Charge to profit or loss
1,200
Liability at 30 September 2023
2,600
REVOLUTIONARY BURGERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 10 -
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
102,500 Ordinary shares of £1 each
102,500
102,500
102,500
102,500
10
Related party transactions

During the year there were transactions between Revolutionary Burgers Ltd and subsidiary companies.

 

At 30 September 2023 the amount owed to related parties amounted by £114,516 (2022: £56,301). This is included within debtors due after one year. No interest is charged in this loan.

 

At 30 September 2023 the balance due from the director on the loan account amounted to £31,204 (2022: £133,974). This is included within debtors due after one year. Interest has been charged on the loan at normal commercial rates.

 

The company provided security for related party bank loans which comprise fixed and floating charges over the assets of the company in favour of AIB Group (UK) PLC. At the year end the outstanding loan balance was £Nil.

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