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REGISTERED NUMBER: 06125411 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Harry's Restaurants Limited

Harry's Restaurants Limited (Registered number: 06125411)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Harry's Restaurants Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Ms S Pounds





REGISTERED OFFICE: 5 Barnfield Crescent
Exeter
Devon
EX1 1 RF





REGISTERED NUMBER: 06125411 (England and Wales)





ACCOUNTANTS: Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

Harry's Restaurants Limited (Registered number: 06125411)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 471,522 478,293
Investment property 6 827,512 827,512
1,299,034 1,305,805

CURRENT ASSETS
Stocks 10,000 7,800
Debtors 7 58,581 99,583
Cash at bank and in hand 243,681 124,702
312,262 232,085
CREDITORS
Amounts falling due within one year 8 318,645 272,377
NET CURRENT LIABILITIES (6,383 ) (40,292 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,292,651

1,265,513

CREDITORS
Amounts falling due after more than one
year

9

(296,944

)

(408,893

)

PROVISIONS FOR LIABILITIES (92,935 ) (91,796 )
NET ASSETS 902,772 764,824

CAPITAL AND RESERVES
Called up share capital 104 104
Revaluation reserve 11 88,200 88,200
Retained earnings 814,468 676,520
SHAREHOLDERS' FUNDS 902,772 764,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Harry's Restaurants Limited (Registered number: 06125411)

Balance Sheet - continued
31 March 2024


The 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 Income Statement has not been delivered.

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





Ms S Pounds - Director


Harry's Restaurants Limited (Registered number: 06125411)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Harry's Restaurants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised over its useful life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on cost and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling cost in bringing stocks to their present location and condition.

Harry's Restaurants Limited (Registered number: 06125411)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 90,000
AMORTISATION
At 1 April 2023
and 31 March 2024 90,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Harry's Restaurants Limited (Registered number: 06125411)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 273,603 34,195 135,122
Additions - - 40,690
At 31 March 2024 273,603 34,195 175,812
DEPRECIATION
At 1 April 2023 43,776 3,408 87,101
Charge for year 5,472 684 24,628
At 31 March 2024 49,248 4,092 111,729
NET BOOK VALUE
At 31 March 2024 224,355 30,103 64,083
At 31 March 2023 229,827 30,787 48,021

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 393,347 8,166 844,433
Additions 19,093 1,417 61,200
At 31 March 2024 412,440 9,583 905,633
DEPRECIATION
At 1 April 2023 226,829 5,026 366,140
Charge for year 35,958 1,229 67,971
At 31 March 2024 262,787 6,255 434,111
NET BOOK VALUE
At 31 March 2024 149,653 3,328 471,522
At 31 March 2023 166,518 3,140 478,293

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 827,512
NET BOOK VALUE
At 31 March 2024 827,512
At 31 March 2023 827,512

Harry's Restaurants Limited (Registered number: 06125411)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 88,200
Cost 739,312
827,512

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 58,581 99,583

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 63,542 71,951
Trade creditors 47,353 55,967
Taxation and social security 119,383 106,451
Other creditors 88,367 38,008
318,645 272,377

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 181,194 290,143
Other creditors 115,750 118,750
296,944 408,893

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 39,229

10. SECURED DEBTS

The bank loans with a total closing balance of £244,736 are secured on the property the loans were used to purchase and refurbish.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 88,200

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Harry's Restaurants Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Harry's Restaurants Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Harry's Restaurants Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Harry's Restaurants Limited and state those matters that we have agreed to state to the director of Harry's Restaurants Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Harry's Restaurants Limited and its director for our work or for this report.

It is your duty to ensure that Harry's Restaurants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Harry's Restaurants Limited. You consider that Harry's Restaurants 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 financial statements of Harry's Restaurants 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 financial statements.






Kirk Hills Business Advisors
a trading name of RT Marke &
Co Chartered Accountants Ltd
5 Barnfield Crescent
Exeter
Devon
EX1 1QT


26 November 2024