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Registered number: 07193739
Cleone's Restaurants Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report of the Accountant to the directors of Cleone's Restaurants Limited
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
12/11/2024
van Dijk Accountants
Georgian House
34 Thoroughfare
Halesworth
IP19 8AP
Page 1
Page 2
Balance Sheet
Registered number: 07193739
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,660 3,032
1,660 3,032
CURRENT ASSETS
Stocks 6 16,283 15,929
Debtors 7 21,244 11,229
Cash at bank and in hand 228,247 182,225
265,774 209,383
Creditors: Amounts Falling Due Within One Year 8 (123,283 ) (103,895 )
NET CURRENT ASSETS (LIABILITIES) 142,491 105,488
TOTAL ASSETS LESS CURRENT LIABILITIES 144,151 108,520
PROVISIONS FOR LIABILITIES
Deferred Taxation (315 ) (576 )
NET ASSETS 143,836 107,944
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 143,736 107,844
SHAREHOLDERS' FUNDS 143,836 107,944
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs C F Tennant
Director
Mr S W Tennant
Director
12/11/2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Cleone's Restaurants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07193739 . The registered office is The Angel, Thoroughfare, Halesworth, Suffolk, IP19 8AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It was amortised to profit and loss account over its estimated economic life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold over the term of the lease
Motor Vehicles 25% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2023: 33)
33 33
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 252,768
As at 31 March 2024 252,768
Amortisation
As at 1 April 2023 252,768
As at 31 March 2024 252,768
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 40,131 4,500 60,252 826 105,709
As at 31 March 2024 40,131 4,500 60,252 826 105,709
Depreciation
As at 1 April 2023 40,131 4,500 57,505 541 102,677
Provided during the period - - 1,230 142 1,372
As at 31 March 2024 40,131 4,500 58,735 683 104,049
Net Book Value
As at 31 March 2024 - - 1,517 143 1,660
As at 1 April 2023 - - 2,747 285 3,032
6. Stocks
2024 2023
£ £
Stock - products for resale 16,283 15,929
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 19,093 9,078
Corporation tax recoverable assets 2,151 2,151
21,244 11,229
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30,257 27,932
Corporation tax 36,361 20,937
Other taxes and social security 6,508 7,141
VAT 43,472 39,690
...CONTINUED
Page 6
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Other creditors 4,490 5,964
Accruals and deferred income 2,150 2,100
Directors' loan accounts 45 131
123,283 103,895
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 78,000 97,808
Page 7