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COMPANY REGISTRATION NUMBER: 05594838
Alexandros Greek Restaurant Limited
Filleted Unaudited Financial Statements
30 November 2023
Alexandros Greek Restaurant Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
311,630
280,901
Current assets
Stocks
6,000
5,000
Debtors
6
57,147
31,540
Cash at bank and in hand
24,953
28,844
--------
--------
88,100
65,384
Creditors: amounts falling due within one year
7
99,681
77,583
--------
--------
Net current liabilities
11,581
12,199
---------
---------
Total assets less current liabilities
300,049
268,702
Creditors: amounts falling due after more than one year
8
104,606
69,059
Provisions
Taxation including deferred tax
23,236
14,482
---------
---------
Net assets
172,207
185,161
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
172,107
185,061
---------
---------
Shareholders funds
172,207
185,161
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Alexandros Greek Restaurant Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 18 November 2024 , and are signed on behalf of the board by:
Mr A Pathanoglou
Mrs S E Pathanoglou
Director
Director
Company registration number: 05594838
Alexandros Greek Restaurant Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1 Telford House, Warwick Road, Carlisle, Cumbria, CA1 2BT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 32 (2022: 26 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
£
Cost
At 1 Dec 2022
203,707
22,892
117,220
47,529
6,213
397,561
Additions
5,215
10,065
53,842
69,122
Disposals
( 1,519)
( 417)
( 1,936)
---------
--------
---------
---------
-------
---------
At 30 Nov 2023
203,707
26,588
126,868
101,371
6,213
464,747
---------
--------
---------
---------
-------
---------
Depreciation
At 1 Dec 2022
14,130
86,806
11,882
3,842
116,660
Charge for the year
3,407
10,095
22,372
2,071
37,945
Disposals
( 1,169)
( 319)
( 1,488)
---------
--------
---------
---------
-------
---------
At 30 Nov 2023
16,368
96,582
34,254
5,913
153,117
---------
--------
---------
---------
-------
---------
Carrying amount
At 30 Nov 2023
203,707
10,220
30,286
67,117
300
311,630
---------
--------
---------
---------
-------
---------
At 30 Nov 2022
203,707
8,762
30,414
35,647
2,371
280,901
---------
--------
---------
---------
-------
---------
6. Debtors
2023
2022
£
£
Other debtors
57,147
31,540
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,021
Trade creditors
30,860
22,705
Corporation tax
21,699
18,615
Social security and other taxes
20,404
20,215
Other creditors
16,718
6,027
--------
--------
99,681
77,583
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,000
25,000
Other creditors
89,606
44,059
---------
--------
104,606
69,059
---------
--------
9. Directors' advances, credits and guarantees
During the year the directors loan account was overdrawn and the maximum outstanding during the year was £57,147 (2022 - £31,540). On the balance sheet date the amount outstanding was £ 57,147 (2022 - £31,540). This amount has been repaid since the balance sheet date.
10. Related party transactions
The company was under the joint control of Mr A Pathanoglou , Mrs S Pathanoglou & Mr A Pathanoglou throughout the current and previous year. Mr & Mrs Pathanoglou are the only company directors. Mr A Pathanoglou Snr & Mrs S Pathanoglou are the majority shareholders. During the year dividends of £ 115,332 (2022 - £95,500) were paid to Messrs Pathanoglou. On the balance sheet date Messrs Pathanoglou owed the company £ 57,147 (2022 - £31,540).