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Company No: 13121933 (England and Wales)

THE ULTIMATE GOURMET BURGER COMPANY LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

THE ULTIMATE GOURMET BURGER COMPANY LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

THE ULTIMATE GOURMET BURGER COMPANY LTD

BALANCE SHEET

As at 31 January 2024
THE ULTIMATE GOURMET BURGER COMPANY LTD

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 28,936 17,035
28,936 17,035
Current assets
Stocks 4 450 658
Debtors 5 4,877 8,531
Cash at bank and in hand 3,971 982
9,298 10,171
Creditors: amounts falling due within one year 6 ( 153,452) ( 82,642)
Net current liabilities (144,154) (72,471)
Total assets less current liabilities (115,218) (55,436)
Creditors: amounts falling due after more than one year 7 ( 7,098) ( 9,560)
Net liabilities ( 122,316) ( 64,996)
Capital and reserves
Called-up share capital 2 2
Profit and loss account ( 122,318 ) ( 64,998 )
Total shareholders' deficit ( 122,316) ( 64,996)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Ultimate Gourmet Burger Company Ltd (registered number: 13121933) were approved and authorised for issue by the Director on 28 January 2025. They were signed on its behalf by:

Mr I M Noble
Director
THE ULTIMATE GOURMET BURGER COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
THE ULTIMATE GOURMET BURGER COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Ultimate Gourmet Burger Company Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Grafton Avenue, Weymouth, DT4 9RZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes purchases of food and drink. Cost is calculated using the FIFO (first-in, first-out) method.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter 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 receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 February 2023 5,469 11,490 1,111 18,070
Additions 3,009 13,585 0 16,594
Disposals ( 1,058) 0 0 ( 1,058)
At 31 January 2024 7,420 25,075 1,111 33,606
Accumulated depreciation
At 01 February 2023 676 192 167 1,035
Charge for the financial year 950 2,713 189 3,852
Disposals ( 217) 0 0 ( 217)
At 31 January 2024 1,409 2,905 356 4,670
Net book value
At 31 January 2024 6,011 22,170 755 28,936
At 31 January 2023 4,793 11,298 944 17,035

4. Stocks

2024 2023
£ £
Stocks 450 658

5. Debtors

2024 2023
£ £
Trade debtors 0 4
Other debtors 4,877 8,527
4,877 8,531

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 17,396 18,847
Trade creditors 1,516 19,457
Other creditors 134,540 44,338
153,452 82,642

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 7,098 9,560

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 44,799 74,253

9. Related party transactions

Transactions with the entity's director

During the year the director maintained an interest free loan account which is repayable on demand. At the balance sheet date the company owed the director was £130,597 (2023 £43,088).