Asiatique Restaurant Company Limited 10026687 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of operating a restaurant Digita Accounts Production Advanced 6.30.9574.0 true 10026687 2023-03-01 2024-02-29 10026687 2024-02-29 10026687 bus:OrdinaryShareClass1 2024-02-29 10026687 core:RetainedEarningsAccumulatedLosses 2024-02-29 10026687 core:ShareCapital 2024-02-29 10026687 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 10026687 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 10026687 core:FurnitureFittingsToolsEquipment 2024-02-29 10026687 core:LandBuildings 2024-02-29 10026687 core:MotorVehicles 2024-02-29 10026687 bus:SmallEntities 2023-03-01 2024-02-29 10026687 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10026687 bus:FullAccounts 2023-03-01 2024-02-29 10026687 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10026687 bus:RegisteredOffice 2023-03-01 2024-02-29 10026687 bus:Director1 2023-03-01 2024-02-29 10026687 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 10026687 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10026687 bus:Agent1 2023-03-01 2024-02-29 10026687 core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 10026687 core:ShareCapital 2023-03-01 2024-02-29 10026687 core:FurnitureFittings 2023-03-01 2024-02-29 10026687 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 10026687 core:LandBuildings 2023-03-01 2024-02-29 10026687 core:MotorCars 2023-03-01 2024-02-29 10026687 core:MotorVehicles 2023-03-01 2024-02-29 10026687 core:OfficeEquipment 2023-03-01 2024-02-29 10026687 countries:AllCountries 2023-03-01 2024-02-29 10026687 2023-02-28 10026687 core:RetainedEarningsAccumulatedLosses 2023-02-28 10026687 core:ShareCapital 2023-02-28 10026687 core:FurnitureFittingsToolsEquipment 2023-02-28 10026687 core:LandBuildings 2023-02-28 10026687 core:MotorVehicles 2023-02-28 10026687 2022-03-01 2023-02-28 10026687 2023-02-28 10026687 bus:OrdinaryShareClass1 2023-02-28 10026687 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2023-02-28 10026687 core:ShareCapital core:PreviouslyStatedAmount 2023-02-28 10026687 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-02-28 10026687 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2023-02-28 10026687 core:FurnitureFittingsToolsEquipment 2023-02-28 10026687 core:LandBuildings 2023-02-28 10026687 core:MotorVehicles 2023-02-28 10026687 core:PreviouslyStatedAmount 2023-02-28 10026687 core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 10026687 core:ShareCapital 2022-03-01 2023-02-28 10026687 core:PreviouslyStatedAmount 2022-03-01 2023-02-28 10026687 2022-02-28 10026687 core:RetainedEarningsAccumulatedLosses 2022-02-28 10026687 core:ShareCapital 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10026687

Asiatique Restaurant Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Asiatique Restaurant Company Limited

Contents

Company Information

1

Director's Report

2

Statement of Director's Responsibilities

3

Accountants' Report

4

Profit and Loss Account

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 16

 

Asiatique Restaurant Company Limited

Company Information

Director

Mr Ekkapat Rattanapanya

Registered office

201 Upper Richmond Road West
London
SW14 8QT

Accountants

Aventus Partners Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

Asiatique Restaurant Company 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 Ekkapat Rattanapanya

Principal activity

The principal activity of the company is that of operating a 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.

This report was approved by the director on 26 November 2024 and signed on its behalf by:

.........................................
Mr Ekkapat Rattanapanya
Director

 

Asiatique Restaurant Company Limited

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Asiatique Restaurant Company 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 Asiatique Restaurant Company Limited for the year ended 29 February 2024 as set out on pages 5 to 16 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 Asiatique Restaurant Company Limited, as a body, in accordance with the terms of our engagement letter dated 7 March 2016. Our work has been undertaken solely to prepare for your approval the accounts of Asiatique Restaurant Company Limited and state those matters that we have agreed to state to the Board of Directors of Asiatique Restaurant Company 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 Asiatique Restaurant Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Asiatique Restaurant Company 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 loss of Asiatique Restaurant Company Limited. You consider that Asiatique Restaurant Company 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 Asiatique Restaurant Company 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.

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

Aventus Partners Limited
Hygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

26 November 2024

 

Asiatique Restaurant Company Limited

Profit and Loss Account for the Year Ended 29 February 2024

Note

2024
£

2023
£

Turnover

 

715,055

641,323

Cost of sales

 

(209,147)

(181,185)

Gross profit

 

505,908

460,138

Administrative expenses

 

(508,745)

(443,374)

Other operating income

 

-

10,000

Operating (loss)/profit

 

(2,837)

26,764

Interest payable and similar expenses

 

(11,536)

(972)

(Loss)/profit before tax

4

(14,373)

25,792

Taxation

 

4,812

(4,812)

(Loss)/profit for the financial year

 

(9,561)

20,980

 

Asiatique Restaurant Company Limited

(Registration number: 10026687)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

119,853

71,488

Current assets

 

Stocks

6

23,148

3,095

Debtors

7

93,827

91,090

Cash at bank and in hand

 

9,418

52,086

 

126,393

146,271

Creditors: Amounts falling due within one year

8

(159,681)

(83,633)

Net current (liabilities)/assets

 

(33,288)

62,638

Total assets less current liabilities

 

86,565

134,126

Creditors: Amounts falling due after more than one year

8

(12,500)

(22,500)

Net assets

 

74,065

111,626

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

73,965

111,526

Total equity

 

74,065

111,626

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.

 

Asiatique Restaurant Company Limited

(Registration number: 10026687)
Balance Sheet as at 29 February 2024 (continued)

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

The financial statements were approved and authorised for issue by the director on 26 November 2024
 

.........................................
Mr Ekkapat Rattanapanya
Director

   
     
 

Asiatique Restaurant Company Limited

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

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

100

147,546

147,646

Profit for the year

-

20,980

20,980

Dividends

-

(57,000)

(57,000)

At 28 February 2023

100

111,526

111,626

Share capital
£

Retained earnings
£

Total
£

At 1 March 2023

100

111,526

111,626

Loss for the year

-

(9,561)

(9,561)

Dividends

-

(28,000)

(28,000)

At 29 February 2024

100

73,965

74,065

 

Asiatique Restaurant Company Limited

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

1

General information

The company is a incorporated in United kingdom.

The address of its registered office is:
201 Upper Richmond Road West
London
SW14 8QT
United Kingdom

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.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

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.

Government grants

Government grants are accounted under the accruals model as permitted by FRS102. Grants of revenue nature are recognised in the financial statements in the same period as the related expenditure.

 

Asiatique Restaurant Company Limited

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

2

Accounting policies (continued)

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.

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

Fixtures and fittings

10% on st. line basis

Motor cars

25% on WDV

Office equipment

25% on WDV

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.

 

Asiatique Restaurant Company Limited

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

2

Accounting policies (continued)

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.

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.

 

Asiatique Restaurant Company Limited

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

2

Accounting policies (continued)

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.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are
measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Asiatique Restaurant Company Limited

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

3

Staff numbers

The average monthly number of persons employed by the company (including the director) during the year, was 17 (2023: 12).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

23,659

16,686

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 March 2023

19,203

130,359

5,080

154,642

Additions

11,801

63,420

-

75,221

Disposals

-

(3,198)

-

(3,198)

At 29 February 2024

31,004

190,581

5,080

226,665

Depreciation

At 1 March 2023

4,647

75,725

2,782

83,154

Charge for the year

3,319

19,764

575

23,658

At 29 February 2024

7,966

95,489

3,357

106,812

Carrying amount

At 29 February 2024

23,038

95,092

1,723

119,853

At 28 February 2023

14,556

54,634

2,298

71,488

Included within the net book value of land and buildings above is £23,039 (2023 - £14,557) in respect of short leasehold land and buildings.
 

 

Asiatique Restaurant Company Limited

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

6

Stocks

2024
£

2023
£

Other inventories

23,148

3,095

7

Debtors

2024
£

2023
£

Prepayments

16,038

4,834

Other debtors

62,911

54,000

Directors current account

14,878

32,256

93,827

91,090



 

 

Asiatique Restaurant Company Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Bank borrowings

10,000

10,000

Other borrowings

50,504

-

Trade creditors

5,016

-

Taxation and social security

43,124

21,879

Other creditors

51,037

51,754

159,681

83,633

Due after one year

Bank loans

12,500

22,500

Creditors: amounts falling due after more than one year

Bank borrowings consists of a government-backed Bounce Back Loan with a repayment term of 6 years from May 2021. The interest rate applicable to the loan is 2.5% with the first 12 months interest being covered by the government.

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Dividends

2024

2023

£

£

Interim dividend of £280.00 (2023 - £570.00) per ordinary share

28,000

57,000

 

 
 

Asiatique Restaurant Company Limited

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

11

Related party transactions

Director's remuneration

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

2024
£

2023
£

Remuneration

12,289

19,000