Silverfin false false 31/01/2024 01/02/2023 31/01/2024 D Sutherland 04/04/2023 08/12/2009 H Sutherland 04/04/2023 30 October 2024 The principal activity of the Company during the financial year was that of leasing and consultancy. SC369809 2024-01-31 SC369809 bus:Director1 2024-01-31 SC369809 bus:Director2 2024-01-31 SC369809 2023-01-31 SC369809 core:CurrentFinancialInstruments 2024-01-31 SC369809 core:CurrentFinancialInstruments 2023-01-31 SC369809 core:Non-currentFinancialInstruments 2024-01-31 SC369809 core:Non-currentFinancialInstruments 2023-01-31 SC369809 core:ShareCapital 2024-01-31 SC369809 core:ShareCapital 2023-01-31 SC369809 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC369809 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC369809 core:Goodwill 2023-01-31 SC369809 core:Goodwill 2024-01-31 SC369809 core:OtherPropertyPlantEquipment 2023-01-31 SC369809 core:OtherPropertyPlantEquipment 2024-01-31 SC369809 bus:OrdinaryShareClass1 2024-01-31 SC369809 2023-02-01 2024-01-31 SC369809 bus:FilletedAccounts 2023-02-01 2024-01-31 SC369809 bus:SmallEntities 2023-02-01 2024-01-31 SC369809 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC369809 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC369809 bus:Director1 2023-02-01 2024-01-31 SC369809 bus:Director2 2023-02-01 2024-01-31 SC369809 core:Goodwill 2023-02-01 2024-01-31 SC369809 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 SC369809 2022-02-01 2023-01-31 SC369809 core:CurrentFinancialInstruments 2023-02-01 2024-01-31 SC369809 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 SC369809 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC369809 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC369809 (Scotland)

FIREBIRD RESTAURANT LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

FIREBIRD RESTAURANT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

Contents

FIREBIRD RESTAURANT LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2024
FIREBIRD RESTAURANT LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 4,538 5,672
Tangible assets 4 1,976 2,634
Investment property 5 543,638 543,638
550,152 551,944
Current assets
Cash at bank and in hand 300 10,272
300 10,272
Creditors: amounts falling due within one year 6 ( 167,980) ( 139,154)
Net current liabilities (167,680) (128,882)
Total assets less current liabilities 382,472 423,062
Creditors: amounts falling due after more than one year 7 ( 236,387) ( 297,190)
Net assets 146,085 125,872
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 145,985 125,772
Total shareholders' funds 146,085 125,872

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Firebird Restaurant Limited (registered number: SC369809) were approved and authorised for issue by the Director on 30 October 2024. They were signed on its behalf by:

H Sutherland
Director
FIREBIRD RESTAURANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
FIREBIRD RESTAURANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Firebird Restaurant Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 1321 Argyle Street, Glasgow, G3 8TL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2023 39,581 39,581
At 31 January 2024 39,581 39,581
Accumulated amortisation
At 01 February 2023 33,909 33,909
Charge for the financial year 1,134 1,134
At 31 January 2024 35,043 35,043
Net book value
At 31 January 2024 4,538 4,538
At 31 January 2023 5,672 5,672

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2023 34,129 34,129
At 31 January 2024 34,129 34,129
Accumulated depreciation
At 01 February 2023 31,495 31,495
Charge for the financial year 658 658
At 31 January 2024 32,153 32,153
Net book value
At 31 January 2024 1,976 1,976
At 31 January 2023 2,634 2,634

5. Investment property

Investment property
£
Valuation
As at 01 February 2023 543,638
As at 31 January 2024 543,638

In the directors opinion, the fair value of the investment property is that of cost. Therefore, no revaluation was made in the financial year

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 43,139 26,366
Trade creditors 9,620 8,220
Taxation and social security 7,475 7,131
Other creditors 107,746 97,437
167,980 139,154

Amounts included within bank loans are secured by the property to which it relates.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 236,387 297,190

Amounts included within bank loans are secured by the property to which it relates.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts due to key management personnel 106,245 96,062

Interest is charged and accrued on the director's loan balance at 2% per annum.