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Company registration number: 05880239







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


AJI (RESTAURANTS) LIMITED






































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AJI (RESTAURANTS) LIMITED
 


 
COMPANY INFORMATION


Directors
D S Nugent 
O O'Connor 




Registered number
05880239



Registered office
Riverside Building
County Hall

Westminster Bridge Road

London

SE1 7PB




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


AJI (RESTAURANTS) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Statement of Changes in Equity
2
Notes to the Financial Statements
3 - 8


 


AJI (RESTAURANTS) LIMITED
REGISTERED NUMBER:05880239



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
181,504
179,705

  
181,504
179,705

Current assets
  

Stocks
  
23,109
15,232

Debtors: amounts falling due within one year
 5 
133,763
117,855

Cash at bank and in hand
  
207,867
83,026

  
364,739
216,113

Creditors: amounts falling due within one year
 6 
(2,056,712)
(1,521,596)

Net current liabilities
  
 
 
(1,691,973)
 
 
(1,305,483)

Total assets less current liabilities
  
(1,510,469)
(1,125,778)

  

Net liabilities
  
(1,510,469)
(1,125,778)


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
(1,510,470)
(1,125,779)

  
(1,510,469)
(1,125,778)


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

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 profit and loss account 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: 




D S Nugent
Director
Date: 6 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 1

 


AJI (RESTAURANTS) LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
1
(664,354)
(664,353)


Comprehensive income for the year

Loss for the year
-
(461,425)
(461,425)



At 1 January 2023
1
(1,125,779)
(1,125,778)


Comprehensive income for the year

Loss for the year
-
(384,691)
(384,691)


At 31 December 2023
1
(1,510,470)
(1,510,469)


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


AJI (RESTAURANTS) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Aji (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

 
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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

  
2.2

Related party exemption

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.

 
2.3

Going concern

The company is reliant on continued financial support from the the ultimate parent company, Shirayama Shokusan Co Ltd. The directors of Shirayama Shokusan Co Ltd have indicated their willingness to continue to support the company. On this assertion the financial statements have been prepared on a going concern basis.

 
2.4

Revenue

Revenue represents the sale of food, beverages and other related consumables, excluding value added tax, trade discounts and all other taxes of sales made during the year.

 
2.5

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.

Page 3

 


AJI (RESTAURANTS) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year 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.

 
2.7

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.

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:

Plant and machinery
-
10 - 33% on cost

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.

 
2.8

Inventories

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Page 4

 


AJI (RESTAURANTS) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.9

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
48
35



Directors
2
2

50
37

Page 5

 


AJI (RESTAURANTS) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
467,339


Additions
123,603



At 31 December 2023

590,942



Depreciation


At 1 January 2023
287,634


Charge for the year on owned assets
121,804



At 31 December 2023

409,438



Net book value



At 31 December 2023
181,504



At 31 December 2022
179,705


5.


Debtors

2023
2022
£
£


Trade debtors
-
1,417

Amounts owed by  connected companies
65,026
25,013

Other debtors
68,737
56,530

Deferred taxation
-
34,895

133,763
117,855


Page 6

 


AJI (RESTAURANTS) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
95,545
119,389

Amounts owed to group undertakings
1,785,676
1,251,086

Amounts owed to connected companies
77,541
62,057

Other taxation and social security
69,330
37,787

Other creditors
28,620
51,277

2,056,712
1,521,596



7.


Deferred taxation




2023


£






At beginning of year
34,895


Charged to profit or loss
(34,895)



At end of year
-

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(42,231)

Tax losses carried forward
-
77,126

-
34,895


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary shares share of £1.00
1
1



9.


Related party transactions

As at the year end an amount £1,785,676 (2022: £1,251,086) is included within creditors due within one year to the ultimate parent company. There are no formal repayment terms agreed on this loan and the loan is interest free and repayable on demand.

Page 7

 


AJI (RESTAURANTS) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Parent company

The parent undertaking is County Hall Cuisine Limited, a company incorporated in England and Wales at Riverside Building County Hall, Westminster Bridge Road, London SE1 7PB.
Shirayama Shokusan Co. Ltd, a company incorporated in Japan, is the smallest and largest group of group financial statements in which the results of the company are included within are available at 2-3-23, Tsumori, Nishinari-Ku, Osaka, 557-0062, Japan.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 6 January 2025 by Ralph Mitchison FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 8