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Registration number: 11184348

Brothertons Brasserie (Oxford) Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Brothertons Brasserie (Oxford) Limited

Contents

Director's Report

1

Accountants' Report

2

Profit and Loss Account

3

Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 12

 

Brothertons Brasserie (Oxford) Limited

Director's Report for the Year Ended 29 February 2024

The director presents his report and the financial statements for the year ended 29 February 2024.

Director of the company

The director who held office during the year was as follows:

Mr Karaj

Principal activity

The principal activity of the company is is that of a licenced restaurant.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 26 November 2024
 

.........................................
Mr Karaj
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Brothertons Brasserie (Oxford) Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Brothertons Brasserie (Oxford) Limited for the year ended 29 February 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Brothertons Brasserie (Oxford) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Brothertons Brasserie (Oxford) Limited and state those matters that we have agreed to state to the Board of Directors of Brothertons Brasserie (Oxford) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brothertons Brasserie (Oxford) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Brothertons Brasserie (Oxford) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Brothertons Brasserie (Oxford) Limited. You consider that Brothertons Brasserie (Oxford) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Brothertons Brasserie (Oxford) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Wenn Townsend
Chartered Accountants
30 St Giles'
Oxford
OX1 3LE

26 November 2024

 

Brothertons Brasserie (Oxford) Limited

Profit and Loss Account for the Year Ended 29 February 2024

Note

2024
£

2023
£

Turnover

 

785,397

616,158

Cost of sales

 

(477,469)

(347,052)

Gross profit

 

307,928

269,106

Administrative expenses

 

(225,105)

(130,226)

Operating profit

 

82,823

138,880

Other interest receivable and similar income

 

3,667

-

Interest payable and similar expenses

 

(5,384)

(975)

   

(1,717)

(975)

Profit before tax

81,106

137,905

Tax on profit

 

(5,579)

(26,400)

Profit for the financial year

 

75,527

111,505

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Brothertons Brasserie (Oxford) Limited

(Registration number: 11184348)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,143,220

15,683

Current assets

 

Stocks

5

7,000

2,800

Debtors

6

1,959

125,676

Cash at bank and in hand

 

7,020

228,460

 

15,979

356,936

Creditors: Amounts falling due within one year

7

(128,924)

(127,215)

Net current (liabilities)/assets

 

(112,945)

229,721

Total assets less current liabilities

 

1,030,275

245,404

Creditors: Amounts falling due after more than one year

7

(733,615)

(23,271)

Net assets

 

296,660

222,133

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

296,650

222,123

Shareholders' funds

 

296,660

222,133

 

Brothertons Brasserie (Oxford) Limited

(Registration number: 11184348)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 November 2024
 

.........................................
Mr Karaj
Director

 

Brothertons Brasserie (Oxford) Limited

Statement of Changes in Equity for the Year Ended 29 February 2024

Share capital
£

Retained earnings
£

Total
£

At 1 March 2023

10

222,123

222,133

Profit for the year

-

75,527

75,527

Dividends

-

(1,000)

(1,000)

At 29 February 2024

10

296,650

296,660

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

10

110,618

110,628

Profit for the year

-

111,505

111,505

At 28 February 2023

10

222,123

222,133

 

Brothertons Brasserie (Oxford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 High Street
Woodstock
OX20 1TE

These financial statements were authorised for issue by the director on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Brothertons Brasserie (Oxford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

Straight line over 5 years

Buildings

Straight line over 50 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Brothertons Brasserie (Oxford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 6).

 

Brothertons Brasserie (Oxford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

-

25,092

25,092

Additions

1,075,794

63,601

1,139,395

At 29 February 2024

1,075,794

88,693

1,164,487

Depreciation

At 1 March 2023

-

9,409

9,409

Charge for the year

3,586

8,272

11,858

At 29 February 2024

3,586

17,681

21,267

Carrying amount

At 29 February 2024

1,072,208

71,012

1,143,220

At 28 February 2023

-

15,683

15,683

Included within the net book value of land and buildings above is £1,072,208 (2023 - £Nil) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

7,000

2,800

6

Debtors

2024
£

2023
£

Prepayments

1,959

1,592

Other debtors

-

124,084

1,959

125,676

 

Brothertons Brasserie (Oxford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

16,734

9,935

Trade creditors

 

21,595

8,685

Taxation and social security

 

79,762

108,565

Accruals and deferred income

 

5,551

-

Other creditors

 

5,282

30

 

128,924

127,215

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

733,615

23,271

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 shares of £1 each

10

10

10

10

       
 

Brothertons Brasserie (Oxford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

669,393

23,271

Other borrowings

64,222

-

733,615

23,271

Current loans and borrowings

2024
£

2023
£

Bank borrowings

16,734

9,935

10

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Repayments by director
£

At 29 February 2024
£

Mr Karaj

Director's Loan

57,059

(121,281)

(64,222)

2023

At 1 March 2022
£

Advances to director
£

At 28 February 2023
£

Mr Karaj

Director's Loan

26,607

30,452

57,059

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

11,820

9,568