Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-302022-11-01falseLicensed restaurant1839truetrue 11243659 2022-11-01 2023-06-30 11243659 2021-11-01 2022-10-31 11243659 2023-06-30 11243659 2022-10-31 11243659 c:Director2 2022-11-01 2023-06-30 11243659 d:Buildings d:ShortLeaseholdAssets 2022-11-01 2023-06-30 11243659 d:Buildings d:ShortLeaseholdAssets 2023-06-30 11243659 d:Buildings d:ShortLeaseholdAssets 2022-10-31 11243659 d:PlantMachinery 2022-11-01 2023-06-30 11243659 d:PlantMachinery 2023-06-30 11243659 d:PlantMachinery 2022-10-31 11243659 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-06-30 11243659 d:FurnitureFittings 2022-11-01 2023-06-30 11243659 d:FurnitureFittings 2023-06-30 11243659 d:FurnitureFittings 2022-10-31 11243659 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-06-30 11243659 d:OfficeEquipment 2022-11-01 2023-06-30 11243659 d:OfficeEquipment 2023-06-30 11243659 d:OfficeEquipment 2022-10-31 11243659 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-06-30 11243659 d:OwnedOrFreeholdAssets 2022-11-01 2023-06-30 11243659 d:Goodwill 2022-11-01 2023-06-30 11243659 d:Goodwill 2023-06-30 11243659 d:Goodwill 2022-10-31 11243659 d:CurrentFinancialInstruments 2023-06-30 11243659 d:CurrentFinancialInstruments 2022-10-31 11243659 d:Non-currentFinancialInstruments 2023-06-30 11243659 d:Non-currentFinancialInstruments 2022-10-31 11243659 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11243659 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11243659 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 11243659 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 11243659 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 11243659 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 11243659 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 11243659 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 11243659 d:ShareCapital 2023-06-30 11243659 d:ShareCapital 2022-10-31 11243659 d:RetainedEarningsAccumulatedLosses 2023-06-30 11243659 d:RetainedEarningsAccumulatedLosses 2022-10-31 11243659 c:OrdinaryShareClass1 2022-11-01 2023-06-30 11243659 c:OrdinaryShareClass1 2023-06-30 11243659 c:OrdinaryShareClass1 2022-10-31 11243659 c:FRS102 2022-11-01 2023-06-30 11243659 c:Audited 2022-11-01 2023-06-30 11243659 c:FullAccounts 2022-11-01 2023-06-30 11243659 c:PrivateLimitedCompanyLtd 2022-11-01 2023-06-30 11243659 c:SmallCompaniesRegimeForAccounts 2022-11-01 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 11243659














FOLIE RESTAURANT LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

 
FOLIE RESTAURANT LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
FOLIE RESTAURANT LTD
REGISTERED NUMBER:11243659

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

30 June
31 October
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
1

Tangible assets
 5 
2,147,497
2,224,264

  
2,147,497
2,224,265

Current assets
  

Stocks
  
-
81,503

Debtors
 6 
106,512
142,283

Cash at bank and in hand
  
21,204
40,257

  
127,716
264,043

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(5,443,048)
(739,703)

Net current liabilities
  
 
 
(5,315,332)
 
 
(475,660)

Total assets less current liabilities
  
(3,167,835)
1,748,605

Creditors: amounts falling due after more than one year
 8 
(498,679)
(4,784,816)

  

Net liabilities
  
(3,666,514)
(3,036,211)


Capital and reserves
  

Called up share capital 
 10 
500
500

Profit and loss account
  
(3,667,014)
(3,036,711)

  
(3,666,514)
(3,036,211)


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.

Page 1

 
FOLIE RESTAURANT LTD
REGISTERED NUMBER:11243659
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

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 11 September 2024.




S Pakula
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FOLIE RESTAURANT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

1.


General information

Folie Restaurant Ltd is a private company, limited by shares, registered in England and Wales. Its registered office address is C/o Bob Bob Ricard, 1-3 Upper James Street, London, W1F 9DF. The trading address is 37 Golden Square, London, W1F 9LB.
The principal activity during the year was the operation of a restaurant.

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 Company made a loss for the period of £770,303 and at the reporting date has net current liabilities of £5,315,332 and net liabilities of £3,666,514. The directors have sought and obtained assurance from the parent company that it has the ability and will support the Company financially so that the Company will be able to meet its financial obligations as and when they arise for at least twelve months from the date the accounts are approved. 
Furthermore, included in liabilities is a total of £5,021,522 due to related parties who have confirmed that repayment of the balance, or part of, will be by mutual agreement and only when the Company have the ability to make repayments.
Therefore, the directors have prepared the financial statements on the going concern basis.

 
2.3

Revenue

Turnover comprises amounts receivable for the sale of food and beverages, exclusive of Value Added Tax.
Revenue is recognised at the point of sale.

 
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

Government grants

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3

 
FOLIE RESTAURANT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.7

Pensions

The Company contributes to 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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.
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

 
FOLIE RESTAURANT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.10

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 lower of useful ecomic life and lease term
Plant and machinery
-
10% straight line
Fixtures and fittings
-
10% straight line
Office equipment
-
33% straight line

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.

 
2.11

Stocks

Stocks are valued at the lower of cost and net realisable value, being the estimated selling price after making due allowance for out of date and slow-moving stocks. 

 
2.12

Debtors

Short-term debtors are measured at the transaction price, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors,, loans from banks and other third parties, loans to and from related parties.


3.


Employees

The average monthly number of employees, including directors, during the period was 18 (2022 - 39).

Page 5

 
FOLIE RESTAURANT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

4.


Intangible assets






Goodwill

£





At 1 November 2022
1


Disposals
(1)



At 30 June 2023

-






Net book value



At 30 June 2023
-



At 31 October 2022
1


Page 6

 
FOLIE RESTAURANT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

5.


Tangible fixed assets







Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost


At 1 November 2022
2,222,713
22,954
327,454
23,752
2,596,873


Additions
1,670
(667)
-
-
1,003



At 30 June 2023

2,224,383
22,287
327,454
23,752
2,597,876



Depreciation


At 1 November 2022
260,217
6,174
86,218
20,000
372,609


Charge for the period on owned assets
59,371
1,111
16,328
960
77,770



At 30 June 2023

319,588
7,285
102,546
20,960
450,379



Net book value



At 30 June 2023
1,904,795
15,002
224,908
2,792
2,147,497



At 31 October 2022
1,962,496
16,780
241,236
3,752
2,224,264


6.


Debtors

30 June
31 October
2023
2022
£
£

Due after more than one year

Other debtors
85,748
85,748

Due within one year

Trade debtors
-
15,415

Other debtors
-
596

Prepayments and accrued income
20,764
40,524

106,512
142,283


Page 7

 
FOLIE RESTAURANT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

30 June
31 October
2023
2022
£
£

Trade creditors
1,474
229,451

Amounts owed to group undertakings
177,900
-

Other taxation and social security
177,228
398,737

Other creditors
4,798,455
29,256

Accruals and deferred income
287,991
82,259

5,443,048
739,703



8.


Creditors: Amounts falling due after more than one year

30 June
31 October
2023
2022
£
£

Bank loans
28,734
35,833

Other loans
-
4,240,010

Accruals and deferred income
469,945
508,973

498,679
4,784,816



9.


Loans


Analysis of the maturity of loans is given below:


30 June
31 October
2023
2022
£
£


Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
18,734
25,833

Other loans
-
4,240,010

28,734
4,275,843


Page 8

 
FOLIE RESTAURANT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023

10.


Share capital

30 June
31 October
2023
2022
£
£
Allotted, called up and fully paid



500 (2022 - 500) Ordinary shares of £1 each
500
500



11.


Capital contribution

AVM Holdings SARL, the former parent entity, contributed £140,000 towards the liabilities of the Company after it was acquired by KNBY Limited. The balance does not bear interest and is not repayable. As such, the Company has treated the amount contributed as a capital contribution by the previous parent and recognised £140,000 directly in equity within retained earnings. 


12.


Controlling party

With effect from 17 April 2023, the immediate parent company is KNBY (UK) Limited, a company registered in England and Wales. The ultimate parent undertaking is KNBY Limited, a company registered in the British Virgin Islands.


13.


Auditors' information

The auditors' report on the financial statements for the period ended 30 June 2023 was unqualified.

The audit report was signed on 24 September 2024 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 9