Registration number:
Gaia Dining Limited
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Gaia Dining Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Gaia Dining Limited
Company Information
Director |
S Allemann |
Registered office |
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Accountants |
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Gaia Dining Limited
Statement of Financial Position as at 30 September 2023
Note |
2023 |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
(785,087) |
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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:
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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
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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
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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.
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
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.
Staff numbers |
The average number of persons employed by the company during the period, was
Debtors |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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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 £