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REGISTERED NUMBER: 05277716 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

FRANCESCO'S RESTAURANT LIMITED

FRANCESCO'S RESTAURANT LIMITED (REGISTERED NUMBER: 05277716)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FRANCESCO'S RESTAURANT LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTOR: F Spinella





REGISTERED OFFICE: 5 Rodney Street
Wigan
Lancashire
WN1 1DG





REGISTERED NUMBER: 05277716 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

FRANCESCO'S RESTAURANT LIMITED (REGISTERED NUMBER: 05277716)

STATEMENT OF FINANCIAL POSITION
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,210 7,873
7,210 7,873

CURRENT ASSETS
Stocks 26,424 25,471
Debtors 6 246 246
Cash at bank and in hand 32,723 62,070
59,393 87,787
CREDITORS
Amounts falling due within one year 7 59,425 70,081
NET CURRENT (LIABILITIES)/ASSETS (32 ) 17,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,178

25,579

CREDITORS
Amounts falling due after more than one
year

8

(15,458

)

(25,458

)

PROVISIONS FOR LIABILITIES (1,522 ) (1,232 )
NET LIABILITIES (9,802 ) (1,111 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (9,902 ) (1,211 )
SHAREHOLDERS' FUNDS (9,802 ) (1,111 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

FRANCESCO'S RESTAURANT LIMITED (REGISTERED NUMBER: 05277716)

STATEMENT OF FINANCIAL POSITION - continued
30 November 2023


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 14 August 2024 and were signed by:





F Spinella - Director


FRANCESCO'S RESTAURANT LIMITED (REGISTERED NUMBER: 05277716)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Francesco's Restaurant 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.

2. ACCOUNTING POLICIES

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

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 principal accounting policies adopted in the preparation of the financial statements are set out below.

Going concern
The company is dependent on the financial support of the shareholder. On this basis the director considers the company to be a going concern, but, inherently, there can be no certainty to these views.

Turnover
Turnover represents the amounts received or receivable for goods or services provided to customers in the year, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial liabilities; Directors loan account, trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically Directors loan accounts, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash or consideration that is expected to be paid or received.


FRANCESCO'S RESTAURANT LIMITED (REGISTERED NUMBER: 05277716)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 200,000
AMORTISATION
At 1 December 2022
and 30 November 2023 200,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

FRANCESCO'S RESTAURANT LIMITED (REGISTERED NUMBER: 05277716)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 59,910
Additions 609
At 30 November 2023 60,519
DEPRECIATION
At 1 December 2022 52,037
Charge for year 1,272
At 30 November 2023 53,309
NET BOOK VALUE
At 30 November 2023 7,210
At 30 November 2022 7,873

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 246 246

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 7,362 18,602
Taxation and social security 21,527 21,367
Other creditors 20,536 20,112
59,425 70,081

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,458 25,458

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 13,750 26,000
Between one and five years - 13,000
13,750 39,000