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Registration number: 07043842

Thai Pinto Restaurant Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Thai Pinto Restaurant Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Thai Pinto Restaurant Limited

Company Information

Director

Mr Surachart Thaweesin

Registered office

36-38 High Street
Leatherhead
Surrey
KT22 8AJ

Accountants

Henson ReesRussell
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Thai Pinto Restaurant Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Thai Pinto Restaurant Limited for the year ended 31 December 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Thai Pinto Restaurant Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Thai Pinto Restaurant Limited and state those matters that we have agreed to state to the Board of Directors of Thai Pinto Restaurant Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thai Pinto Restaurant Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Thai Pinto Restaurant Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Thai Pinto Restaurant Limited. You consider that Thai Pinto Restaurant Limited 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 accounts of Thai Pinto Restaurant Limited. 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 accounts.

......................................

Henson ReesRussell
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

24 September 2024

 

Thai Pinto Restaurant Limited

(Registration number: 07043842)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

8,598

13,053

Current assets

 

Stocks

5

5,500

5,500

Debtors

6

34,778

30,476

Cash at bank and in hand

 

14,719

11,457

 

54,997

47,433

Creditors: Amounts falling due within one year

7

(112,147)

(96,459)

Net current liabilities

 

(57,150)

(49,026)

Total assets less current liabilities

 

(48,552)

(35,973)

Creditors: Amounts falling due after more than one year

7

(18,715)

(23,583)

Provisions for liabilities

(1,634)

(2,323)

Net liabilities

 

(68,901)

(61,879)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(69,001)

(61,979)

Shareholders' deficit

 

(68,901)

(61,879)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 

 

Thai Pinto Restaurant Limited

(Registration number: 07043842)
Balance Sheet as at 31 December 2023

.........................................
Mr Surachart Thaweesin
Director

 

Thai Pinto Restaurant Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The address of its registered office is:
36-38 High Street
Leatherhead
Surrey
KT22 8AJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change 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.

 

Thai Pinto Restaurant Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% reducing balance and 25% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Thai Pinto Restaurant Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2022 - 13).

 

Thai Pinto Restaurant Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

1

120,011

30,729

150,741

Additions

-

511

-

511

At 31 December 2023

1

120,522

30,729

151,252

Depreciation

At 1 January 2023

-

113,259

24,429

137,688

Charge for the year

-

1,816

3,150

4,966

At 31 December 2023

-

115,075

27,579

142,654

Carrying amount

At 31 December 2023

1

5,447

3,150

8,598

At 31 December 2022

1

6,752

6,300

13,053

5

Stocks

2023
£

2022
£

Other inventories

5,500

5,500

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,210

1,513

Prepayments

495

1,487

Other debtors

33,073

27,476

 

34,778

30,476

 

Thai Pinto Restaurant Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

12,601

15,842

Trade creditors

 

31,182

8,032

Taxation and social security

 

36,977

32,061

Accruals and deferred income

 

2,000

11,579

Other creditors

 

29,387

28,945

 

112,147

96,459

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

18,715

23,583

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

18,715

23,583

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,920

10,920

Hire purchase contracts

1,681

4,922

12,601

15,842