REGISTERED NUMBER: |
ATHLEY LIMITED |
Unaudited Financial Statements |
for the Period 15 November 2022 to 31 December 2023 |
REGISTERED NUMBER: |
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: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
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 |
Tangible assets | 5 |
Investments | 6 |
Current assets |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 9 |
Net current liabilities | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 10 | ( |
) |
Provisions for liabilities | 11 | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings |
ATHLEY LIMITED (REGISTERED NUMBER: 14485695) |
Balance Sheet - continued |
31 December 2023 |
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. |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Restaurant equipment | - |
Office equipment | - |
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 |
4. | Intangible fixed assets |
Franchise |
rights |
£ |
Cost |
Additions |
At 31 December 2023 |
Amortisation |
Amortisation for period |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
5. | Tangible fixed assets |
Restaurant | Office |
equipment | equipment | Totals |
£ | £ | £ |
Cost |
Additions |
At 31 December 2023 |
Depreciation |
Charge for period |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
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 |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
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 |
Paper stock |
Non-product stock | 2,945 |
8. | Debtors: amounts falling due within one year |
£ |
Other debtors |
Prepayments |
9. | Creditors: amounts falling due within one year |
£ |
Other loans |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 164,584 |
Other creditors |
Directors' current accounts | 114,923 |
Accrued expenses |
10. | Creditors: amounts falling due after more than one year |
£ |
Other loans - 1-2 years | 250,000 |
Other loans - 2-5 years |
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 |
Balance at 31 December 2023 |
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. |