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Registration number: 14244561

Gaia Dining Limited

Unaudited Financial Statements

for the Period from 19 July 2022 to 30 September 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Gaia Dining Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Gaia Dining Limited

Company Information

Director

S Allemann

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Gaia Dining Limited

Statement of Financial Position as at 30 September 2023

Note

2023
£

Current assets

 

Debtors

4

2,922

Creditors: Amounts falling due within one year

5

(787,909)

Net liabilities

 

(784,987)

Capital and reserves

 

Called up share capital

100

Retained earnings

(785,087)

Shareholders' deficit

 

(784,987)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 19 August 2024
 

.........................................

S Allemann

Director

Company registration number: 14244561

 

Gaia Dining Limited

Notes to the Unaudited Financial Statements for the Period from 19 July 2022 to 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal place of business is:
50 Dover Street
London
W1S 4NY
United Kingdom

The principal activity of the company is that of the operation of a restaurant and bar.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Disclosure of long or short period

These financial statements relate to the period from 19 July 2022 to 30 September 2023.

 

Gaia Dining Limited

Notes to the Unaudited Financial Statements for the Period from 19 July 2022 to 30 September 2023

Going concern

The company made a loss for the period ended 30 September 2023 and had a deficiency of net assets at that date of £784,987.

During the period the company and its associated companies undertook preparatory work prior to the opening of the company’s restaurant and bar in December 2023. The loss generated in the period is within expectations due to the necessary pre-opening lease and staffing expenses.

The director believes that the level of trade since the opening of the restaurant and bar has provided a strong foundation for continued growth and that the company will generate profits in the foreseeable future.

The company primarily funds its working capital requirements through loans from group companies, which have advanced funds totalling £767,481 up until the period end. Further funding has been provided since the period end. No matters have been drawn to the attention of the director to suggest that this funding will not continue on acceptable terms in the future and the director believes that the company is well placed to manage its business risks successfully.

On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, normally on delivery, the amount of revenue can be measured reliably, 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 measured reliably.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Gaia Dining Limited

Notes to the Unaudited Financial Statements for the Period from 19 July 2022 to 30 September 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the period, was 1.

4

Debtors

2023
£

Other debtors

2,922

2,922

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Trade creditors

 

2,921

Amounts owed to group undertakings

767,481

Taxation and social security

 

14,655

Accruals and deferred income

 

2,852

 

787,909

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £20,077,534. The above financial commitment relates to property utilised by the company that is in the name of the company's associated undertaking, GAIA Restaurant Limited. GAIA Dining Limited has agreed to meet any liability arising in respect of this lease whilst it is being utilised.