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REGISTERED NUMBER: 05011846 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Simpson's Restaurant (Edgbaston) Limited

Simpson's Restaurant (Edgbaston) Limited (Registered number: 05011846)






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


Simpson's Restaurant (Edgbaston) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Antona
A D Antona





SECRETARY: A D Antona





REGISTERED OFFICE: Leofric House
Binley Road
Coventry
CV3 1JN





REGISTERED NUMBER: 05011846 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Simpson's Restaurant (Edgbaston) Limited (Registered number: 05011846)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,802 8,871
Tangible assets 5 722,405 785,952
726,207 794,823

CURRENT ASSETS
Stocks 98,961 112,844
Debtors 6 459,759 484,565
Cash in hand 7,593 1,785
566,313 599,194
CREDITORS
Amounts falling due within one year 7 1,014,389 652,227
NET CURRENT LIABILITIES (448,076 ) (53,033 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,131

741,790

CREDITORS
Amounts falling due after more than one
year

8

(131,352

)

(388,661

)

PROVISIONS FOR LIABILITIES (50,992 ) (59,133 )
NET ASSETS 95,787 293,996

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 274,220 287,190
Retained earnings (178,533 ) 6,706
SHAREHOLDERS' FUNDS 95,787 293,996

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 directors acknowledge their 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.

Simpson's Restaurant (Edgbaston) Limited (Registered number: 05011846)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





A Antona - Director


Simpson's Restaurant (Edgbaston) Limited (Registered number: 05011846)

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

1. STATUTORY INFORMATION

Simpson's Restaurant (Edgbaston) 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 represents net invoiced sales of goods and services, excluding value added tax.

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.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold property - Period of lease
Improvements to property - Period of lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - Straight line over 3 years

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Simpson's Restaurant (Edgbaston) Limited (Registered number: 05011846)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Going concern
As at the balance sheet date the company's liabilities exceed its assets by £178,533. This deficit is funded by the company's directors. The company is therefore reliant on the continued financial support of the directors in order to enable it to continue trading. In the opinion of the directors, this support will continue for the foreseeable future, in which circumstances, it is considered appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result in the company ceasing to trade.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 April 2023
and 31 March 2024 15,208
AMORTISATION
At 1 April 2023 6,337
Amortisation for year 5,069
At 31 March 2024 11,406
NET BOOK VALUE
At 31 March 2024 3,802
At 31 March 2023 8,871

Simpson's Restaurant (Edgbaston) Limited (Registered number: 05011846)

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

5. TANGIBLE FIXED ASSETS
Long Improvements
leasehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 April 2023 38,363 1,109,877 542,354
Additions - - 1,265
At 31 March 2024 38,363 1,109,877 543,619
DEPRECIATION
At 1 April 2023 25,957 581,183 405,014
Charge for year 1,532 24,299 20,703
At 31 March 2024 27,489 605,482 425,717
NET BOOK VALUE
At 31 March 2024 10,874 504,395 117,902
At 31 March 2023 12,406 528,694 137,340

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 672,372 53,865 2,416,831
Additions - - 1,265
At 31 March 2024 672,372 53,865 2,418,096
DEPRECIATION
At 1 April 2023 569,541 49,184 1,630,879
Charge for year 15,425 2,853 64,812
At 31 March 2024 584,966 52,037 1,695,691
NET BOOK VALUE
At 31 March 2024 87,406 1,828 722,405
At 31 March 2023 102,831 4,681 785,952

Cost or valuation at 31 March 2024 is represented by:

Long Improvements
leasehold to Plant and
property property machinery
£    £    £   
Valuation in 2006 - 645,576 -
Cost 38,363 464,301 543,619
38,363 1,109,877 543,619

Simpson's Restaurant (Edgbaston) Limited (Registered number: 05011846)

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

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
Valuation in 2006 - - 645,576
Cost 672,372 53,865 1,772,520
672,372 53,865 2,418,096

If long leasehold property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 459,130 459,130
Aggregate depreciation 209,629 209,629

The long leasehold property was valued on an open market basis on 31 March 2006 by Richard Hardy FRICS, Evans Hardy Bromwich .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,811 24,376
Amounts owed by associates 410,169 414,385
Other debtors 47,779 45,804
459,759 484,565

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 69,161 135,292
Trade creditors 150,236 163,033
Amounts owed to associates 422,753 11,258
Taxation and social security 183,427 117,249
Other creditors 188,812 225,395
1,014,389 652,227

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 131,352 154,901
Other creditors - 233,760
131,352 388,661

Simpson's Restaurant (Edgbaston) Limited (Registered number: 05011846)

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 99,000 99,000
Between one and five years 396,000 396,000
In more than five years 1,039,500 1,138,500
1,534,500 1,633,500

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 29,199 78,919
Bank loans 171,314 211,274
200,513 290,193

The bank loan is secured by way of fixed and floating charges over the assets of the company.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023 287,190
Revaluation of property (12,970 )

At 31 March 2024 274,220

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the company had a loan facility from Dudley Taylor Pharmacies Limited, a company whose director is associated with the directors of Simpson's Restaurants (Edgbaston) Limited. At the start of the period the company owed £288,230 and at the end of the period the company owed £14,956. This loan is unsecured and has been advanced on normal commercial terms.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the Company are the directors of the parent Company, Mr and Mrs Antona.