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REGISTERED NUMBER: SC296994 (Scotland)















Unaudited Financial Statements for the Year Ended 28th February 2024

for

Red Poppy Restaurant Ltd.

Red Poppy Restaurant Ltd. (Registered number: SC296994)

Contents of the Financial Statements
for the year ended 28th February 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Red Poppy Restaurant Ltd.

Company Information
for the year ended 28th February 2024







Director: N Aburrow





Registered office: 4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT





Registered number: SC296994 (Scotland)





Accountants: Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Red Poppy Restaurant Ltd.


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Red Poppy Restaurant Ltd. for the year ended 28th February 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Red Poppy Restaurant Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Red Poppy Restaurant Ltd. and state those matters that we have agreed to state to the director of Red Poppy Restaurant Ltd. in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Red Poppy Restaurant Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Red Poppy Restaurant Ltd.. You consider that Red Poppy Restaurant Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Red Poppy Restaurant Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Frame Kennedy
4th Floor Metropolitan House
31-33 High Street
Inverness
IV1 1HT


13th August 2024

Red Poppy Restaurant Ltd. (Registered number: SC296994)

Balance Sheet
28th February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 361,559 299,056

Current assets
Stocks 6,750 8,363
Debtors 5 134,005 105,918
Cash at bank and in hand 133,743 70,169
274,498 184,450
Creditors
Amounts falling due within one year 6 282,072 204,700
Net current liabilities (7,574 ) (20,250 )
Total assets less current liabilities 353,985 278,806

Creditors
Amounts falling due after more than one
year

7

(143,322

)

(106,475

)

Provisions for liabilities (31,886 ) (26,402 )
Net assets 178,777 145,929

Capital and reserves
Called up share capital 100 100
Retained earnings 178,677 145,829
178,777 145,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2024 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.

Red Poppy Restaurant Ltd. (Registered number: SC296994)

Balance Sheet - continued
28th February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13th August 2024 and were signed by:





N Aburrow - Director


Red Poppy Restaurant Ltd. (Registered number: SC296994)

Notes to the Financial Statements
for the year ended 28th February 2024


1. Statutory information

Red Poppy Restaurant Ltd. is a private company, limited by shares , registered in Scotland. 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 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost and 2% on cost
Plant and machinery etc - 25% on reducing balance and 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

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.

Red Poppy Restaurant Ltd. (Registered number: SC296994)

Notes to the Financial Statements - continued
for the year ended 28th February 2024


2. Accounting policies - continued

Fair value
Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable, willing parties in an arm's length transaction.

3. Employees and directors

The average number of employees during the year was 32 (2023 - 27 ) .

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1st March 2023 293,452 307,722 601,174
Additions - 167,631 167,631
Disposals - (56,122 ) (56,122 )
At 28th February 2024 293,452 419,231 712,683
Depreciation
At 1st March 2023 100,005 202,113 302,118
Charge for year 20,001 58,365 78,366
Eliminated on disposal - (29,360 ) (29,360 )
At 28th February 2024 120,006 231,118 351,124
Net book value
At 28th February 2024 173,446 188,113 361,559
At 28th February 2023 193,447 105,609 299,056

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 72,785 44,698
Other debtors 61,220 61,220
134,005 105,918

Red Poppy Restaurant Ltd. (Registered number: SC296994)

Notes to the Financial Statements - continued
for the year ended 28th February 2024


6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 16,188 21,631
Hire purchase contracts 34,780 11,859
Trade creditors 31,100 53,742
Taxation and social security 37,626 43,785
Other creditors 162,378 73,683
282,072 204,700

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 32,428 67,740
Hire purchase contracts 110,894 38,735
143,322 106,475

The bank facility is secured by a fixed and floating charge over the assets owned by the company. The Bounce Back Loan of £26,251 is secured by the government.

Amounts due under hire purchase agreements are secured against the assets to which they relate.