Caseware UK (AP4) 2023.0.135 2023.0.135 2023-05-312023-05-312022-06-01falseNo description of principal activity414falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09926223 2022-06-01 2023-05-31 09926223 2021-06-01 2022-05-31 09926223 2023-05-31 09926223 2022-05-31 09926223 c:Director3 2022-06-01 2023-05-31 09926223 d:Buildings d:LongLeaseholdAssets 2022-06-01 2023-05-31 09926223 d:Buildings d:LongLeaseholdAssets 2023-05-31 09926223 d:Buildings d:LongLeaseholdAssets 2022-05-31 09926223 d:PlantMachinery 2022-06-01 2023-05-31 09926223 d:PlantMachinery 2023-05-31 09926223 d:PlantMachinery 2022-05-31 09926223 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 09926223 d:FurnitureFittings 2022-06-01 2023-05-31 09926223 d:FurnitureFittings 2023-05-31 09926223 d:FurnitureFittings 2022-05-31 09926223 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 09926223 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 09926223 d:CurrentFinancialInstruments 2023-05-31 09926223 d:CurrentFinancialInstruments 2022-05-31 09926223 d:Non-currentFinancialInstruments 2023-05-31 09926223 d:Non-currentFinancialInstruments 2022-05-31 09926223 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 09926223 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 09926223 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 09926223 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 09926223 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 09926223 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 09926223 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 09926223 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 09926223 d:ShareCapital 2023-05-31 09926223 d:ShareCapital 2022-05-31 09926223 d:RetainedEarningsAccumulatedLosses 2023-05-31 09926223 d:RetainedEarningsAccumulatedLosses 2022-05-31 09926223 c:OrdinaryShareClass1 2022-06-01 2023-05-31 09926223 c:OrdinaryShareClass1 2023-05-31 09926223 c:OrdinaryShareClass1 2022-05-31 09926223 c:FRS102 2022-06-01 2023-05-31 09926223 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 09926223 c:FullAccounts 2022-06-01 2023-05-31 09926223 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09926223 4 2022-06-01 2023-05-31 09926223 e:PoundSterling 2022-06-01 2023-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09926223










Portland Restaurants Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 May 2023

 
Portland Restaurants Limited
Registered number: 09926223

Balance sheet
As at 31 May 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
93,307
110,822

  
93,307
110,822

Current assets
  

Stocks
 5 
5,000
10,000

Debtors: amounts falling due within one year
 6 
22,766
52,387

Cash at bank and in hand
  
3,365
12,466

  
31,131
74,853

Creditors: amounts falling due within one year
 7 
(2,065,830)
(2,478,119)

Net current liabilities
  
 
 
(2,034,699)
 
 
(2,403,266)

Total assets less current liabilities
  
(1,941,392)
(2,292,444)

Creditors: amounts falling due after more than one year
 8 
(21,667)
(31,667)

  

Net liabilities
  
(1,963,059)
(2,324,111)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(1,963,159)
(2,324,211)

  
(1,963,059)
(2,324,111)


Page 1

 
Portland Restaurants Limited
Registered number: 09926223

Balance sheet (continued)
As at 31 May 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 September 2024.




N Arjomandkhah
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Portland Restaurants Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

1.


General information

Portland Restaurants Limited is a private company limited by shares and was incorporated in England with the registration number 09926223. The address of the registered office is 2nd Floor 168 Shoreditch High Street, London, England, E1 6RA. The principal activity of the company is that of a restaurant business.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the expected level of income and expenditure for the 12 month period from authorising these financial statements and their plans for the company for the future. Taking all of these factors into account the directors consider that the company can continue in operational existence for the forseeable future, as it is reliant upon the continued financial support of its fellow group companies, and is therefore reasonable to prepare the financial statements on a going concern basis.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
Portland Restaurants Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
7%
Plant and machinery
-
15%
Fixtures and fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
Portland Restaurants Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees



The average monthly number of employees, including directors, during the year was 4 (2022 - 14).


4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 June 2022
66,674
84,046
5,085
155,805



At 31 May 2023

66,674
84,046
5,085
155,805



Depreciation


At 1 June 2022
15,560
26,827
2,596
44,983


Charge for the year
4,667
12,085
763
17,515



At 31 May 2023

20,227
38,912
3,359
62,498



Net book value



At 31 May 2023
46,447
45,134
1,726
93,307



At 31 May 2022
51,114
57,219
2,489
110,822


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
5,000
10,000


Page 5

 
Portland Restaurants Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

6.


Debtors

2023
2022
£
£


Trade debtors
15,437
-

Other debtors
7,329
17,686

Tax recoverable
-
34,701

22,766
52,387



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
25,487
72,142

Other taxation and social security
10,814
13,099

Other creditors
2,016,679
2,380,303

Accruals and deferred income
2,850
2,575

2,065,830
2,478,119



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,667
31,667



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
11,667
21,667


31,667
41,667


Page 6

 
Portland Restaurants Limited
 

 
Notes to the financial statements
For the year ended 31 May 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary share shares of £1.00 each
100
100



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £134 (2022: £2,550). Contributions totalling £355 (2022: £Nil) were receivable from the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

At the year end the directors were owed £982,392 (2022: £941,572). No interest is charged on this loan and the loan is repayable on demand.


Page 7