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REGISTERED NUMBER: 06008700 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Benedetto Restaurants Limited

Benedetto Restaurants Limited (Registered number: 06008700)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Benedetto Restaurants Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr P A Benedetto
Mr P Benedetto
Mr C Benedetto
Mr P Benedetto





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





BUSINESS ADDRESS: Unit 3 Broadway House
149-151 St Neots Road
Hardwick
Cambridge
CB23 7QJ





REGISTERED NUMBER: 06008700 (England and Wales)

Benedetto Restaurants Limited (Registered number: 06008700)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 124,523 132,824
Tangible assets 6 147,031 131,008
271,554 263,832

CURRENT ASSETS
Stocks 22,734 25,232
Debtors 7 307,546 293,261
Cash at bank and in hand 75,117 121,988
405,397 440,481
CREDITORS
Amounts falling due within one year 8 433,467 381,391
NET CURRENT (LIABILITIES)/ASSETS (28,070 ) 59,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

243,484

322,922

CREDITORS
Amounts falling due after more than one
year

9

(413,441

)

(452,186

)

PROVISIONS FOR LIABILITIES (13,199 ) (19,910 )
NET LIABILITIES (183,156 ) (149,174 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (183,256 ) (149,274 )
SHAREHOLDERS' FUNDS (183,156 ) (149,174 )

Benedetto Restaurants Limited (Registered number: 06008700)

Statement of Financial Position - 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 1 October 2024 and were signed on its behalf by:





Mr P Benedetto - Director


Benedetto Restaurants Limited (Registered number: 06008700)

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


1. STATUTORY INFORMATION

Benedetto Restaurants Limited is a private company, limited by shares , registered in England and Wales. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - over the remaining life of the lease
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


Benedetto Restaurants Limited (Registered number: 06008700)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The Company incurred a loss for the year and as at the year end has, as disclosed on the balance sheet, net liabilities. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to have adequate resources to enable it to meet its liabilities as they fall due

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2022 - 62 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 337,999
AMORTISATION
At 1 January 2023 205,175
Charge for year 8,301
At 31 December 2023 213,476
NET BOOK VALUE
At 31 December 2023 124,523
At 31 December 2022 132,824

Benedetto Restaurants Limited (Registered number: 06008700)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 47,749 74,359 87,718 209,826
Additions - 18,618 17,539 36,157
Disposals - (1,662 ) (7,900 ) (9,562 )
At 31 December 2023 47,749 91,315 97,357 236,421
DEPRECIATION
At 1 January 2023 21,530 20,108 37,180 78,818
Charge for year 3,166 7,221 6,553 16,940
Eliminated on disposal - (1,018 ) (5,350 ) (6,368 )
At 31 December 2023 24,696 26,311 38,383 89,390
NET BOOK VALUE
At 31 December 2023 23,053 65,004 58,974 147,031
At 31 December 2022 26,219 54,251 50,538 131,008

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,892 29,237
Other debtors 279,654 264,024
307,546 293,261

Included within other debtors disclosed above is a balance of £7,102 (2022 - £5,768) in relation to prepaid expenses, a balance of £18,203 (2022 - £18,203) in relation to rent deposits, a balance of £30,337 (2022 - £30,337) in relation to recoverable S455 tax, a balance of £1,100 (2022 - £1,100) in relation to other debtors and a balance of £222,912 (2022 - £208,616) in relation to the Directors' loan accounts.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 47,505 50,615
Trade creditors 151,268 131,519
Taxation and social security 173,827 133,717
Other creditors 60,867 65,540
433,467 381,391

Benedetto Restaurants Limited (Registered number: 06008700)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 399,292 432,941
Other creditors 14,149 19,245
413,441 452,186

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 203,824 229,425

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 169,000 169,000
Between one and five years 184,875 261,375
353,875 430,375

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 446,797 483,556

The debenture from Barclays Bank Plc taken out in the year has the following debenture's over Benedetto Restaurants Limited. The company has provided a guarantee of both a fixed and floating charge of the companies assets.