Company registration number 08394366 (England and Wales)
UGS BELGRAVIA RESTAURANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
UGS BELGRAVIA RESTAURANTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
UGS BELGRAVIA RESTAURANTS LIMITED (REGISTERED NUMBER: 08394366)
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
116,495
16,981
Current assets
Stocks
-
9,370
Debtors
4
52,014
11,446
Cash at bank and in hand
15,773
19,494
67,787
40,310
Creditors: amounts falling due within one year
5
(432,385)
(132,462)
Net current liabilities
(364,598)
(92,152)
Net liabilities
(248,103)
(75,171)
Capital and reserves
Called up share capital
6
200
200
Share premium account
1,519,900
1,519,900
Profit and loss reserves
(1,768,203)
(1,595,271)
Total equity
(248,103)
(75,171)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 6 November 2024 and are signed on its behalf by:
J Herbert
Director
UGS BELGRAVIA RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
UGS Belgravia Restaurants Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, WC2R OLT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the Balance Sheet date, the company has net liabilities and is reliant on support from an entity which is related by way of having common directors. That company has confirmed that it will only seek repayment of amounts due when the company has the ability to repay these amounts.
The directors are of the opinion that if the accounts were prepared on a break-up basis rather than a going concern basis, the accounts would not be materially different.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Improvements to property
Equally over 10 year lease
Fixtures, fittings & equipment
Equally over 10 year lease
Computer equipment
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
UGS BELGRAVIA RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
14
UGS BELGRAVIA RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
3
Tangible fixed assets
Improvements to property
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 March 2023
606,568
102,227
4,901
713,696
Additions
53,640
51,777
105,417
At 29 February 2024
660,208
154,004
4,901
819,113
Depreciation and impairment
At 1 March 2023
603,411
88,403
4,901
696,715
Depreciation charged in the year
4,045
1,858
5,903
At 29 February 2024
607,456
90,261
4,901
702,618
Carrying amount
At 29 February 2024
52,752
63,743
116,495
At 28 February 2023
3,157
13,824
16,981
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
52,014
11,446
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
65,411
17,053
Amounts owed to group undertakings
275,633
Taxation and social security
19,688
Other creditors
91,341
95,721
432,385
132,462
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
200
200
200
200
UGS BELGRAVIA RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
427,932
8
Parent company
The parent company is Last Resort Consultancy Limited.