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REGISTERED NUMBER: SC516343 (Scotland)















STRAUB FOOD LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






STRAUB FOOD LIMITED (REGISTERED NUMBER: SC516343)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


STRAUB FOOD LIMITED

Company Information
for the year ended 31 December 2023







Directors: R Straub
F L E Straub





Secretary: F L E Straub





Registered office: McDonald's Restaurant
59 London Road
Edinburgh
EH7 6AA





Registered number: SC516343 (Scotland)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

STRAUB FOOD LIMITED (REGISTERED NUMBER: SC516343)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 688,600 98,731
Tangible assets 5 337,088 204,083
Investments 6 2,500 7,500
1,028,188 310,314

Current assets
Stocks 7 67,222 33,368
Debtors 8 153,986 188,519
Cash at bank and in hand 998,495 635,159
1,219,703 857,046
Creditors
Amounts falling due within one year 9 1,472,678 823,528
Net current (liabilities)/assets (252,975 ) 33,518
Total assets less current liabilities 775,213 343,832

Creditors
Amounts falling due after more than one year 10 (469,108 ) (33,025 )

Provisions for liabilities 12 (43,789 ) (26,211 )
Net assets 262,316 284,596

Capital and reserves
Called up share capital 13 10 10
Retained earnings 14 262,306 284,586
Shareholders' funds 262,316 284,596

STRAUB FOOD LIMITED (REGISTERED NUMBER: SC516343)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





R Straub - Director


STRAUB FOOD LIMITED (REGISTERED NUMBER: SC516343)

Notes to the Financial Statements
for the year ended 31 December 2023

1. Statutory information

Straub Food Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Franchise rights & fees
Franchise rights & fees are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and impairment losses. They are amortised over their useful lives, which is taken as the remaining term stated in the franchise agreements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 5% on cost
Restaurant equipment - at varying rates on cost
Fixtures and fittings - 20% on cost
Computer equipment - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets comprising of cash in hand, demand deposits with bank, other short-term liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within current liabilities.

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


STRAUB FOOD LIMITED (REGISTERED NUMBER: SC516343)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. Accounting policies - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. Employees and directors

The average number of employees during the year was 341 (2022 - 214 ) .

4. Intangible fixed assets
Franchise Franchise
rights fee Totals
£ £ £
Cost
At 1 January 2023 109,940 30,000 139,940
Additions 571,383 30,000 601,383
At 31 December 2023 681,323 60,000 741,323
Amortisation
At 1 January 2023 32,334 8,875 41,209
Amortisation for year 9,764 1,750 11,514
At 31 December 2023 42,098 10,625 52,723
Net book value
At 31 December 2023 639,225 49,375 688,600
At 31 December 2022 77,606 21,125 98,731

STRAUB FOOD LIMITED (REGISTERED NUMBER: SC516343)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. Tangible fixed assets
Fixtures
Short Restaurant and Computer
leasehold equipment fittings equipment Totals
£ £ £ £ £
Cost
At 1 January 2023 - 566,445 11,178 3,088 580,711
Additions 9,615 214,609 - 1,067 225,291
At 31 December 2023 9,615 781,054 11,178 4,155 806,002
Depreciation
At 1 January 2023 - 373,408 1,610 1,610 376,628
Charge for year 586 89,316 1,755 629 92,286
At 31 December 2023 586 462,724 3,365 2,239 468,914
Net book value
At 31 December 2023 9,029 318,330 7,813 1,916 337,088
At 31 December 2022 - 193,037 9,568 1,478 204,083

6. Fixed asset investments
Unlisted
investments
£
Cost
At 1 January 2023 7,500
Disposals (5,000 )
At 31 December 2023 2,500
Net book value
At 31 December 2023 2,500
At 31 December 2022 7,500

Fixed asset investments consists of 2,500 ordinary shares of £1 each in Fries Holding Company Limited, a company registered in Guernsey. The investments are included in the accounts at cost.

7. Stocks
2023 2022
£ £
Food stock 50,921 25,288
Paper stock 13,368 6,522
Non-product stock 2,933 1,558
67,222 33,368

8. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 292 -
Other debtors 72,265 157,233
Directors' current accounts 39,977 -
Prepayments 41,452 31,286
153,986 188,519

STRAUB FOOD LIMITED (REGISTERED NUMBER: SC516343)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts (see note 11) 112,311 102,316
Trade creditors 511,211 205,543
Corporation tax - 21,511
Social security and other taxes 65,235 27,131
VAT 426,243 275,035
Other creditors 174,662 3,196
Accrued expenses 183,016 188,796
1,472,678 823,528

10. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans (see note 11) 469,108 33,025

11. Loans

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due within one year or on demand:
Bank loans 112,311 102,316

Amounts falling due between one and two years:
Bank loans - 1-2 years 79,286 33,025

Amounts falling due between two and five years:
Bank loans - 2-5 years 389,822 -

Bank loans are repayable over a period of five years. The interest rate applied to the loans are based on Base rate plus a margin of 1.7%.

12. Provisions for liabilities
2023 2022
£ £
Deferred tax
Accelerated capital allowances 43,789 26,211

Deferred tax
£
Balance at 1 January 2023 26,211
Provided during year 17,578
Balance at 31 December 2023 43,789

13. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £5 10 10

STRAUB FOOD LIMITED (REGISTERED NUMBER: SC516343)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

14. Reserves
Retained
earnings
£

At 1 January 2023 284,586
Deficit for the year (8,280 )
Dividends (14,000 )
At 31 December 2023 262,306

15. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£ £
R Straub
Balance outstanding at start of year - -
Amounts advanced 45,557 -
Amounts repaid (14,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,557 -

The loan has no fixed rate of interest and will be repaid within 9 months of the balance sheet date.