Company registration number 08860776 (England and Wales)
SAFEHOUSE RESTAURANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
SAFEHOUSE RESTAURANTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SAFEHOUSE RESTAURANTS LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,457
11,910
Current assets
Stocks
2,346
2,346
Debtors
5
1,869
3,628
Cash at bank and in hand
5,199
2,906
9,414
8,880
Creditors: amounts falling due within one year
6
(11,698)
(17,972)
Net current liabilities
(2,284)
(9,092)
Total assets less current liabilities
8,173
2,818
Creditors: amounts falling due after more than one year
7
(120,000)
(120,000)
Net liabilities
(111,827)
(117,182)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(111,927)
(117,282)
Total equity
(111,827)
(117,182)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

SAFEHOUSE RESTAURANTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 September 2024 and are signed on its behalf by:
L Cosgrave
Director
Company registration number 08860776 (England and Wales)
SAFEHOUSE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Safehouse Restaurants Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Hathaway House, Popes Drive, Finchley, London, N3 1QF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis which is dependent on the continued support of the shareholders and directors. In the opinion of the directors the company will continue to receive such financial support as may be required to enable it to meet its liabilities for at least 12 months following the date of approval of the financial statements.true

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

 

Restaurant sales are recognised at the point of sale.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life which is 5 years.

 

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance
Fixtures and fittings
20% straight line
1.6
Impairment of fixed assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered a material impairment loss. If a material impairment loss arises then it is recognised in the profit and loss account or against the revaluation reserve if the asset has been revalued.

 

SAFEHOUSE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for impairment losses on obsolete and slow moving items. Impairment losses are recognised in profit or loss.

 

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and bank balances.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial instruments, which include debtors and bank balances, are measured at transaction price and subsequently carried at cost less impairment losses for bad and doubtful debts as they are receivable within one year.

Basic financial liabilities

Basic financial liabilities which include creditors are initially recognised at transaction price and are not amortised as they are payable within one year.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
6
SAFEHOUSE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
155,000
Amortisation and impairment
At 1 February 2023 and 31 January 2024
155,000
Carrying amount
At 31 January 2024
-
0
At 31 January 2023
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 and 31 January 2024
49,881
Depreciation and impairment
At 1 February 2023
37,971
Depreciation charged in the year
1,453
At 31 January 2024
39,424
Carrying amount
At 31 January 2024
10,457
At 31 January 2023
11,910
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,869
3,628
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,247
4,002
Taxation and social security
869
4,441
Other creditors
8,582
9,529
11,698
17,972
SAFEHOUSE RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
120,000
120,000
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