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Registered Number: 08542232
England and Wales

 

 

 

MEADOW BROWN RESTAURANTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 4   97,125 
Tangible fixed assets 5 545,005    642,101 
545,005    739,226 
Current assets      
Stocks 65,749    94,544 
Debtors 1,340,559    1,163,503 
Cash at bank and in hand 210,760    221,064 
1,617,068    1,479,111 
Creditors: amount falling due within one year (1,227,476)   (1,124,881)
Net current assets 389,592    354,230 
 
Total assets less current liabilities 934,597    1,093,456 
Creditors: amount falling due after more than one year (19,690)   (53,143)
Provisions for liabilities (128,906)   (113,550)
Net assets 786,001    926,763 
 

Capital and reserves
     
Called up share capital 6 100    2 
Profit and loss account 785,901    926,761 
Shareholders' funds 786,001    926,763 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 16 September 2024 and were signed by:


-------------------------------
Mr Rajesh Regmi
Director
1
General Information
MEADOW BROWN RESTAURANTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08542232, registration address Woodland Manor Hotel , Green Lane, Clapham , Bedford, MK41 6EP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives or if held under a operating lease term, whichever is shorter on the following basis:
Computer Equipment 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Leasehold Improvement 20% Reducing Balance
Leasehold Properties 10% Straight Line
Plant and Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 219 (2023 : 182).
3.

Financial Commitments, Guarantees and Contingencies

The total of future minimum lease payments under non-cancellable operating leases are as following: 


Particulars   2024
£
  2023
£
Within 1 year 215,500  190,500 
Between 2 to 5 years 517,700  541,000 
After 5 years 123,250  196,000 


4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 107,917    107,917 
Additions 9,833    9,833 
Disposals  
At 31 March 2024 117,750    117,750 
Amortisation
At 01 April 2023 10,792    10,792 
Charge for year 106,958    106,958 
On disposals  
At 31 March 2024 117,750    117,750 
Net book values
At 31 March 2024  
At 31 March 2023 97,125    97,125 

The lease associated with goodwill has been surrendered and the balance of the goodwill has been charged to profit and loss account as Impairment of Goodwill during the year.

5.

Tangible fixed assets

Cost or valuation Leasehold Properties   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Leasehold Improvement   Total
  £   £   £   £   £   £   £
At 01 April 2023 8,616    482,336    11,520    508,610    63,224    62,063    1,136,369 
Additions   18,824      25,154    2,930      46,908 
Disposals            
At 31 March 2024 8,616    501,160    11,520    533,764    66,154    62,063    1,183,277 
Depreciation
At 01 April 2023 862    231,179    11,134    200,779    24,972    25,342    494,268 
Charge for year 7,754    53,996    77    66,597    8,236    7,344    144,004 
On disposals            
At 31 March 2024 8,616    285,175    11,211    267,376    33,208    32,686    638,272 
Net book values
Closing balance as at 31 March 2024   215,985    309    266,388    32,946    29,377    545,005 
Opening balance as at 01 April 2023 7,754    251,157    386    307,831    38,252    36,721    642,101 

Lease of one leasehold property has been surrendered. The balance associated with it has been charged to profit and loss account during the year.

6.

Share Capital

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

2