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Registered number: 10046716










THE BOTANIST SLOANE SQUARE LIMITED










FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 25 FEBRUARY 2024

 
THE BOTANIST SLOANE SQUARE LIMITED
REGISTERED NUMBER: 10046716

STATEMENT OF FINANCIAL POSITION
AS AT 25 FEBRUARY 2024

25 February
26 February
2024
2023
Note
£000
£000

Fixed assets
  

Tangible assets
 4 
247
265

  
247
265

Current assets
  

Stocks
  
27
17

Debtors
 5 
925
863

Cash at bank and in hand
  
146
233

  
1,098
1,113

Creditors: amounts falling due within one year
 6 
(2,246)
(2,503)

Net current liabilities
  
 
 
(1,148)
 
 
(1,390)

Net liabilities
  
(901)
(1,125)


Capital and reserves
  

Called up share capital 
  
-
-

Profit and loss account
  
(901)
(1,125)

  
(901)
(1,125)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
E W J Martin
Director

Date: 19 November 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
THE BOTANIST SLOANE SQUARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 FEBRUARY 2024

1.


General information

The Botanist Sloane Square Limited is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 10046716 and registered office address is 10 Queen Street Place, London, United Kingdom, EC4R 1AG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Notwithstanding net liabilities of £901,000 at 25 February 2024, the financial statements have been prepared on a going concern basis.
The directors have prepared detailed forecasts and cash flow analysis models for a period of 12 months from the date of approval of the financial statements which indicate that the Company will have sufficient funds to meet its liabilities as they fall due for that period.
Management also undergo a continuous improvement program across all areas of the business and are therefore able to ensure on-going operating efficiency.
On this basis the financial statements have been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other taxes.
Revenue primarily consists of sales of food and beverages which is recognised at the point of sale to the customer. Other revenue is recognised over the period to which the related service is provided.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
THE BOTANIST SLOANE SQUARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 FEBRUARY 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property
-
over the life of the lease
Fixtures and fittings
-
20%
Computer equipment
-
20%
Smallwares
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost comprises direct purchase costs that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

  
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
THE BOTANIST SLOANE SQUARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 FEBRUARY 2024

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including the directors, during the period was 53 (2023: 46).

Page 4

 
THE BOTANIST SLOANE SQUARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 FEBRUARY 2024

4.


Tangible fixed assets







Leasehold property
Fixtures and fittings
Computer equipment
Smallwares
Total

£000
£000
£000
£000
£000



Cost


At 27 February 2023
322
1,265
34
60
1,681


Additions
-
50
3
21
74



At 25 February 2024

322
1,315
37
81
1,755



Depreciation


At 27 February 2023
236
1,112
31
37
1,416


Charge for the period
25
50
2
15
92



At 25 February 2024

261
1,162
33
52
1,508



Net book value



At 25 February 2024
61
153
4
29
247



At 26 February 2022
86
153
3
23
265


5.


Debtors

25 February
26 February
2024
2023
£000
£000

Amounts owed by associated undertakings
548
664

Prepayments and accrued income
221
199

Deferred taxation
156
-

925
863


Page 5

 
THE BOTANIST SLOANE SQUARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 FEBRUARY 2024

6.


Creditors: amounts falling due within one year

25 February
26 February
2024
2023
£000
£000

Trade creditors
345
373

Amounts owed to other participating interests
1,658
1,692

Other taxation and social security
100
120

Obligations under finance lease and hire purchase contracts
-
34

Other creditors
125
248

Accruals and deferred income
18
36

2,246
2,503



7.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £14k (2023: £11k). Contributions totalling £2k (2023: £2k) were payable at the reporting date.


8.


Commitments under operating leases

At 25 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

52 weeks ended
25 February
52 weeks ended
26 February
2024
2023
£000
£000


Not later than 1 year
609
586

Later than 1 year and not later than 5 years
809
1,364

1,418
1,950

Page 6

 
THE BOTANIST SLOANE SQUARE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 FEBRUARY 2024

9.


Related party transactions

The ETM Group Limited, a company under common control, charged the Company £328k (2023: £386k) in respect of management services provided throughout the period.
During the period the Company recharged costs of £2k (2023: £345k) to ETM Concessions Limited, a company under common control. 
During the period the Company incurred costs from ETM Premium Sports Bars Limited of £114k (2023: charged costs to, of £303k), a company under common control.
During the period the Company charged costs of £1k (2023: £nil) to Maven Premium Bars & Restaurants Ltd, a company under common control.
During the period the Company incurred costs from Maven Leisure Ltd of £8k (2023: £nil), a company under common control.
The following balances were outstanding at the period end in the Company and have been included within debtors/creditors.


52 weeks ended
25 February
52 weeks ended
26 February
2024
2023
£000
£000

ETM Group Limited
(1,658)
(1,692)
ETM Premium Sports Bars Limited
189
309
ETM Concessions Limited
356
354
Maven Premium Bars & Restaurants Limited
-
4
(1,113)
(1,025)


10.


Controlling party

The directors do not consider there to be one controlling party.


11.


Auditors' information

The auditors' report on the financial statements for the period ended 25 February 2024 was unqualified.

The audit report was signed on 19 November 2024 by Jessica Edwards (Senior Statutory Auditor) on behalf of HaysMac LLP.

Page 7