Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-02The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity464truetruefalse 13480743 2023-01-02 2023-12-31 13480743 2021-06-28 2023-01-01 13480743 2023-12-31 13480743 2023-01-01 13480743 c:Director1 2023-01-02 2023-12-31 13480743 c:Director3 2023-01-02 2023-12-31 13480743 c:Director4 2023-01-02 2023-12-31 13480743 c:Director5 2023-01-02 2023-12-31 13480743 c:RegisteredOffice 2023-01-02 2023-12-31 13480743 d:Buildings d:ShortLeaseholdAssets 2023-01-02 2023-12-31 13480743 d:Buildings d:ShortLeaseholdAssets 2023-12-31 13480743 d:Buildings d:ShortLeaseholdAssets 2023-01-01 13480743 d:FurnitureFittings 2023-01-02 2023-12-31 13480743 d:FurnitureFittings 2023-12-31 13480743 d:FurnitureFittings 2023-01-01 13480743 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-02 2023-12-31 13480743 d:OfficeEquipment 2023-01-02 2023-12-31 13480743 d:OfficeEquipment 2023-12-31 13480743 d:OfficeEquipment 2023-01-01 13480743 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-02 2023-12-31 13480743 d:ComputerEquipment 2023-01-02 2023-12-31 13480743 d:ComputerEquipment 2023-12-31 13480743 d:ComputerEquipment 2023-01-01 13480743 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-02 2023-12-31 13480743 d:OwnedOrFreeholdAssets 2023-01-02 2023-12-31 13480743 d:ComputerSoftware 2023-12-31 13480743 d:ComputerSoftware 2023-01-01 13480743 d:CurrentFinancialInstruments 2023-12-31 13480743 d:CurrentFinancialInstruments 2023-01-01 13480743 d:Non-currentFinancialInstruments 2023-12-31 13480743 d:Non-currentFinancialInstruments 2023-01-01 13480743 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13480743 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-01 13480743 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13480743 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-01 13480743 d:ShareCapital 2023-12-31 13480743 d:ShareCapital 2023-01-01 13480743 d:RetainedEarningsAccumulatedLosses 2023-12-31 13480743 d:RetainedEarningsAccumulatedLosses 2023-01-01 13480743 c:OrdinaryShareClass1 2023-01-02 2023-12-31 13480743 c:OrdinaryShareClass1 2023-12-31 13480743 c:OrdinaryShareClass1 2023-01-01 13480743 c:FRS102 2023-01-02 2023-12-31 13480743 c:AuditExempt-NoAccountantsReport 2023-01-02 2023-12-31 13480743 c:FullAccounts 2023-01-02 2023-12-31 13480743 c:PrivateLimitedCompanyLtd 2023-01-02 2023-12-31 13480743 d:WithinOneYear 2023-12-31 13480743 d:WithinOneYear 2023-01-01 13480743 d:BetweenOneFiveYears 2023-12-31 13480743 d:BetweenOneFiveYears 2023-01-01 13480743 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-01-02 2023-12-31 13480743 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-02 2023-12-31 13480743 e:PoundSterling 2023-01-02 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 13480743












CREATIVE RESTAURANT (BERKELEY) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 11


 

CREATIVE RESTAURANT (BERKELEY) LIMITED
 
COMPANY INFORMATION


Directors
A Bukhman 
M Zelman 
R Zelman 
D Nesinov 




Registered number
13480743



Registered office
4 Princes Street

London

W1B 2LE




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:13480743
CREATIVE RESTAURANT (BERKELEY) LIMITED

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
As restated
1 January
2023
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
23,708
-

Tangible assets
 5 
4,652,825
2,529,215

  
4,676,533
2,529,215

Current assets
  

Stocks
 6 
98,596
-

Debtors: amounts falling due within one year
 7 
888,522
1,591,068

Cash at bank and in hand
  
100,519
-

  
1,087,637
1,591,068

Creditors: amounts falling due within one year
 8 
(9,107,936)
(4,501,896)

Net current liabilities
  
 
 
(8,020,299)
 
 
(2,910,828)

Total assets less current liabilities
  
(3,343,766)
(381,613)

Creditors: amounts falling due after more than one year
 9 
(556,369)
(558,198)

  

Net liabilities
  
(3,900,135)
(939,811)


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
(3,900,136)
(939,812)

Total deficit
  
(3,900,135)
(939,811)


Page 2


 
REGISTERED NUMBER:13480743
CREATIVE RESTAURANT (BERKELEY) LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 period 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 profit and loss account 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 by: 




R Zelman
Director

Date: 25 September 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Creative Restaurant (Berkeley) Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 4 Princes Street, London, W1B 2LE.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors consider this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

 
2.3

Revenue

Turnover represents amounts receivable for the sale of meals and drinks, net of value added tax. It is recognised as soon as the services are provided.

 
2.4

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.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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:

Short-term leasehold property
-
over the lease term
Fixtures and fittings
-
25%
Office equipment
-
33%
Computer equipment
-
33%

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.

Tangible fixed assets are not depreciated until in use.

  
2.7

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing
Page 5

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.8

Share capital

Ordinary shares are classified as equity. 

Page 6

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.11

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.

  
2.12

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the period was 46 (1 January 2023 - 4).

Page 7

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Intangible assets






Website

£



Cost


Additions
25,335



At 31 December 2023

25,335



Amortisation


Charge for the period on owned assets
1,627



At 31 December 2023

1,627



Net book value



At 31 December 2023
23,708



At 1 January 2023
-



Page 8

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Tangible fixed assets







Short-term leasehold property
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost


At 2 January 2023
1,844,165
282,228
366,169
36,653
2,529,215


Additions
1,753,116
474,933
248,655
55,347
2,532,051



At 31 December 2023

3,597,281
757,161
614,824
92,000
5,061,266



Depreciation


Charge for the period on owned assets
127,569
124,910
135,717
20,245
408,441



At 31 December 2023

127,569
124,910
135,717
20,245
408,441



Net book value



At 31 December 2023
3,469,712
632,251
479,107
71,755
4,652,825



At 1 January 2023
1,844,165
282,228
366,169
36,653
2,529,215


6.


Stocks

31 December
1 January
2023
2023
£
£

Food and beverages
98,596
-


Page 9

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

7.


Debtors

31 December
As restated
1 January
2023
2023
£
£


Trade debtors
57,530
-

Amounts owed by group undertakings
151,745
461,156

Other debtors
539,790
1,026,280

Prepayments and accrued income
139,457
103,632

888,522
1,591,068



8.


Creditors: Amounts falling due within one year

31 December
As restated
1 January
2023
2023
£
£

Trade creditors
389,037
157,038

Amounts owed to group undertakings
7,720,698
3,537,423

Other taxation and social security
107,549
-

Other creditors
12,202
6,050

Accruals and deferred income
878,450
801,385

9,107,936
4,501,896



9.


Creditors: Amounts falling due after more than one year

31 December
As restated
1 January
2023
2023
£
£

Accruals and deferred income
556,369
558,198



10.


Share capital

31 December
1 January
2023
2023
£
£
Allotted, called up and fully paid



1 (1 January 2023 - 1) Ordinary share of £1.00
1
1


Page 10

 

CREATIVE RESTAURANT (BERKELEY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

11.


Commitments under operating leases

At 31 December 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 December
1 January
2023
2023
£
£


Not later than 1 year
528,082
382,055

Later than 1 year and not later than 5 years
1,660,411
2,290,890

2,188,493
2,672,945


12.


Related party transactions

The company has taken advantage of the exemption contained in FRS 120 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.
In other creditors, is an amount owed of £6,050 (1 January 2023 - £6,050) due to companies under common control of the director. This amount is unsecured, interest free and is repayable on demand.


13.


Controlling party

The company's immediate and ultimate parent undertaking is Spikewell Management Limited, a company registered in the British Virgin Islands.
In the opinion of the directors there is no ultimate controlling party.


14.


Prior period adjustment

The comparative figures in these financial statements have been restated due to an error in the recognition of rental expense and rent free accrual of £331,661.
The effect of the prior period adjustment resulted in an increase in the company's net liabilities as at 1 January 2023 by £331,661 to the restated net liabilities of £939,811 and an increase in losses from £608,151 to £939,812 for the period ended 1 January 2023. There was no effect to the corporation tax liability due in the prior period.

 
Page 11