Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312023-09-01false110120truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10094002 2023-09-01 2024-08-31 10094002 2022-09-01 2023-08-31 10094002 2024-08-31 10094002 2023-08-31 10094002 c:Director1 2023-09-01 2024-08-31 10094002 d:Buildings d:LongLeaseholdAssets 2023-09-01 2024-08-31 10094002 d:Buildings d:LongLeaseholdAssets 2024-08-31 10094002 d:Buildings d:LongLeaseholdAssets 2023-08-31 10094002 d:PlantMachinery 2023-09-01 2024-08-31 10094002 d:PlantMachinery 2024-08-31 10094002 d:PlantMachinery 2023-08-31 10094002 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10094002 d:FurnitureFittings 2023-09-01 2024-08-31 10094002 d:FurnitureFittings 2024-08-31 10094002 d:FurnitureFittings 2023-08-31 10094002 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10094002 d:ComputerEquipment 2023-09-01 2024-08-31 10094002 d:ComputerEquipment 2024-08-31 10094002 d:ComputerEquipment 2023-08-31 10094002 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10094002 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10094002 d:CurrentFinancialInstruments 2024-08-31 10094002 d:CurrentFinancialInstruments 2023-08-31 10094002 d:Non-currentFinancialInstruments 2024-08-31 10094002 d:Non-currentFinancialInstruments 2023-08-31 10094002 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 10094002 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10094002 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 10094002 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10094002 d:SharePremium 2024-08-31 10094002 d:SharePremium 2023-08-31 10094002 d:RetainedEarningsAccumulatedLosses 2024-08-31 10094002 d:RetainedEarningsAccumulatedLosses 2023-08-31 10094002 c:FRS102 2023-09-01 2024-08-31 10094002 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10094002 c:FullAccounts 2023-09-01 2024-08-31 10094002 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10094002 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 10094002









ISABEL MAYFAIR LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
ISABEL MAYFAIR LIMITED
REGISTERED NUMBER: 10094002

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,704,226
2,757,837

Current assets
  

Stocks
  
117,898
126,055

Debtors: amounts falling due within one year
 5 
1,626,179
1,012,091

Cash at bank and in hand
  
327,005
13,401

  
2,071,082
1,151,547

Creditors: amounts falling due within one year
 6 
(1,109,984)
(1,474,458)

Net current assets/(liabilities)
  
 
 
961,098
 
 
(322,911)

Total assets less current liabilities
  
3,665,324
2,434,926

Creditors: amounts falling due after more than one year
 7 
-
(1,050,000)

  

Net assets
  
3,665,324
1,384,926


Capital and reserves
  

Share premium account
  
9,873,050
9,873,050

Profit and loss account
  
(6,207,726)
(8,488,124)

  
3,665,324
1,384,926


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of income and retained earnings 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: 


Page 1

 
ISABEL MAYFAIR LIMITED
REGISTERED NUMBER: 10094002
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

................................................
Mr Nicholas Fallows
Director

Date: 7 January 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
ISABEL MAYFAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Isabel Mayfair Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10094002. The registered office is 26b Albemarle Street, London, England, W1S 4HY.
The company's principal activity continues to be a restaurant.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The company has negative reserves at the year end as a result of the long term loans. The directors have assessed the company’s requirements for the foreseeable future and are confident that sufficient funds will be available to enable operations to continue at a sustainable level for a period of at least 12 months from the date of approval of these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements. As such, the financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist.
The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern, if the loans were recalled.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ISABEL MAYFAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
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:

Long-term leasehold property
-
Over the period of the lease of 20 years
Plant and machinery
-
4 years
Fixtures and fittings
-
4 years
Computer equipment
-
4 years

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.

Page 4

 
ISABEL MAYFAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Stocks

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 balance sheet 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 110 (2023 - 120).

Page 5

 
ISABEL MAYFAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
3,790,838
195,774
697,929
138,415
4,822,956


Additions
-
158,363
66,493
3,541
228,397



At 31 August 2024

3,790,838
354,137
764,422
141,956
5,051,353



Depreciation


At 1 September 2023
1,215,641
118,198
598,266
133,013
2,065,118


Charge for the year on owned assets
189,542
40,620
48,106
3,741
282,009



At 31 August 2024

1,405,183
158,818
646,372
136,754
2,347,127



Net book value



At 31 August 2024
2,385,655
195,319
118,050
5,202
2,704,226



At 31 August 2023
2,575,196
77,576
99,663
5,402
2,757,837


5.


Debtors

2024
2023
£
£


Trade debtors
671,451
86,775

Other debtors
674,798
671,449

Prepayments and accrued income
279,930
253,867

1,626,179
1,012,091


Included in other debtors is a rent deposit of £462,000 (2023: £462,000) due after more than year.

Page 6

 
ISABEL MAYFAIR LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
406,261
726,943

Other taxation and social security
243,865
253,154

Other creditors
8,912
8,693

Accruals and deferred income
450,946
485,668

1,109,984
1,474,458



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
-
1,050,000


Included in other creditors are loans amounting to £Nil (2023: £1,050,000) payable to Crentech Limited, its parent company.


8.


Pension commitments

The company operates a defined contributions pension scheme. The pension cost charges represents contributions payable by the Company to the fund and amounted to £36,825 (2023: £34,478). Contributions totalling £8,848 (2023: £8,381) were payable to the fund at the reporting date.


9.


Parent and ultimate controlling party

The Company's immediate parent is Crentech Limited, a company domiciled and registered in England and Wales. The Company's ultimate parent is BNF Growth Limited, a company domiciled and registered in Guernsey. 
There is no ultimate controlling party.

Page 7