IRIS Accounts Production v24.1.9.2 14485695 director 15.11.22 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh144856952022-11-14144856952023-12-31144856952022-11-152023-12-31144856952022-11-1414485695ns15:EnglandWales2022-11-152023-12-3114485695ns14:PoundSterling2022-11-152023-12-3114485695ns10:Director12022-11-152023-12-3114485695ns10:PrivateLimitedCompanyLtd2022-11-152023-12-3114485695ns10:SmallEntities2022-11-152023-12-3114485695ns10:AuditExempt-NoAccountantsReport2022-11-152023-12-3114485695ns10:SmallCompaniesRegimeForDirectorsReport2022-11-152023-12-3114485695ns10:SmallCompaniesRegimeForAccounts2022-11-152023-12-3114485695ns10:FullAccounts2022-11-152023-12-311448569512022-11-152023-12-3114485695ns10:CompanySecretary12022-11-152023-12-3114485695ns10:RegisteredOffice2022-11-152023-12-3114485695ns5:CurrentFinancialInstruments2023-12-3114485695ns5:Non-currentFinancialInstruments2023-12-3114485695ns5:ShareCapital2023-12-3114485695ns5:RetainedEarningsAccumulatedLosses2023-12-3114485695ns5:NetGoodwill2022-11-152023-12-3114485695ns5:PlantMachinery2022-11-152023-12-3114485695ns5:ComputerEquipment2022-11-152023-12-3114485695ns5:NetGoodwill2023-12-3114485695ns5:PlantMachinery2023-12-3114485695ns5:ComputerEquipment2023-12-3114485695ns5:UnlistedNon-exchangeTradedns5:AdditionsToInvestments2023-12-3114485695ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-12-3114485695ns5:UnlistedNon-exchangeTraded2023-12-3114485695ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3114485695ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3114485695ns5:DeferredTaxation2022-11-152023-12-3114485695ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 14485695 (England and Wales)















ATHLEY LIMITED

Unaudited Financial Statements

for the Period 15 November 2022 to 31 December 2023






ATHLEY LIMITED (REGISTERED NUMBER: 14485695)






Contents of the Financial Statements
for the period 15 November 2022 to 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


ATHLEY LIMITED

Company Information
for the period 15 November 2022 to 31 December 2023







Director: T R Atherton





Secretary: S J Bradley





Registered office: Saggar House
Princes Drive
Worcester
WR1 2PG





Registered number: 14485695 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

ATHLEY LIMITED (REGISTERED NUMBER: 14485695)

Balance Sheet
31 December 2023

Notes £ £
Fixed assets
Intangible assets 4 968,034
Tangible assets 5 335,842
Investments 6 1,250
1,305,126

Current assets
Stocks 7 32,350
Debtors 8 24,484
Cash at bank and in hand 654,243
711,077
Creditors
Amounts falling due within one year 9 883,912
Net current liabilities (172,835 )
Total assets less current liabilities 1,132,291

Creditors
Amounts falling due after more than one year 10 (812,500 )

Provisions for liabilities 11 (71,018 )
Net assets 248,773

Capital and reserves
Called up share capital 100
Retained earnings 248,673
248,773

ATHLEY LIMITED (REGISTERED NUMBER: 14485695)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 August 2024 and were signed by:





T R Atherton - Director


ATHLEY LIMITED (REGISTERED NUMBER: 14485695)

Notes to the Financial Statements
for the period 15 November 2022 to 31 December 2023

1. Statutory information

Athley Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually at the point of sale, the amount of revenue can be reliably measured, it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be reliably measured.

Franchise rights & fees
Franchise rights & fees are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and impairment losses. They are amortised over their useful lives, which is taken as the remaining term stated in the franchise agreements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Restaurant equipment - at varying rates on cost
Office equipment - at varying rates on cost

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

ATHLEY LIMITED (REGISTERED NUMBER: 14485695)

Notes to the Financial Statements - continued
for the period 15 November 2022 to 31 December 2023

2. Accounting policies - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted cost of the future holiday entitlement so accrued at the Balance Sheet date.

3. Employees and directors

The average number of employees during the period was 109 .

4. Intangible fixed assets
Franchise
rights
£
Cost
Additions 1,012,500
At 31 December 2023 1,012,500
Amortisation
Amortisation for period 44,466
At 31 December 2023 44,466
Net book value
At 31 December 2023 968,034

5. Tangible fixed assets
Restaurant Office
equipment equipment Totals
£ £ £
Cost
Additions 378,991 1,414 380,405
At 31 December 2023 378,991 1,414 380,405
Depreciation
Charge for period 44,402 161 44,563
At 31 December 2023 44,402 161 44,563
Net book value
At 31 December 2023 334,589 1,253 335,842

ATHLEY LIMITED (REGISTERED NUMBER: 14485695)

Notes to the Financial Statements - continued
for the period 15 November 2022 to 31 December 2023

6. Fixed asset investments
Unlisted
investments
£
Cost
Additions 1,250
At 31 December 2023 1,250
Net book value
At 31 December 2023 1,250

Fixed asset investments consists of 1,250 ordinary shares of £1 each in Fries Holding Company Limited, a company registered in Guernsey. The investments are included in the accounts at cost.

7. Stocks
£
Food stock 24,399
Paper stock 5,006
Non-product stock 2,945
32,350

8. Debtors: amounts falling due within one year
£
Other debtors 5,236
Prepayments 19,248
24,484

9. Creditors: amounts falling due within one year
£
Other loans 250,000
Trade creditors 223,535
Tax 21,669
Social security and other taxes 10,039
VAT 164,584
Other creditors 23,314
Directors' current accounts 114,923
Accrued expenses 75,848
883,912

10. Creditors: amounts falling due after more than one year
£
Other loans - 1-2 years 250,000
Other loans - 2-5 years 562,500
812,500

11. Provisions for liabilities
£
Deferred tax 71,018

ATHLEY LIMITED (REGISTERED NUMBER: 14485695)

Notes to the Financial Statements - continued
for the period 15 November 2022 to 31 December 2023

11. Provisions for liabilities - continued

Deferred tax
£
Provided during period 71,018
Balance at 31 December 2023 71,018

12. Related party disclosures

JRA Family Restaurants Limited
At the balance sheet date, there is an amount included within other loans totalling £1,062,500 due to JRA Family Restaurants Limited, a connected company. The loan is unsecured and carries interest charged at 0.5% above the Base Rate of the Bank of England. During the period, the company paid loan interest to JRA Family Restaurants Limited, in the sum of £8,906.

During the year the company purchased £135,804 of goods from, and sold £27,643 of goods to, JRA Family Restaurants Limited. At the balance sheet date, there is an amount included within trade creditors totalling £8,082.


T Atherton
During the period, interest totalling £6,000 was charged to the company, being a rate of 6% on the balance included within directors current accounts.