Registered number
08694498
R N Restaurant (Perivale) Limited
Filleted Accounts
31 July 2024
R N Restaurant (Perivale) Limited
Registered number: 08694498
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,925,978 2,064,535
Current assets
Stocks 106,289 103,179
Debtors 4 808,937 571,504
Cash at bank and in hand 24,072 261,159
939,298 935,842
Creditors: amounts falling due within one year 5 (892,131) (1,049,369)
Net current assets/(liabilities) 47,167 (113,527)
Total assets less current liabilities 1,973,145 1,951,008
Creditors: amounts falling due after more than one year 6 (25,873) (231,355)
Provisions for liabilities (304,292) (318,304)
Net assets 1,642,980 1,401,349
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,642,880 1,401,249
Shareholders' funds 1,642,980 1,401,349
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Mahboob Hussain
Director
Approved by the board on 11 December 2024
R N Restaurant (Perivale) Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and equipment 10% reducing balance basis
Motor vehicles 25% reducing balance basis
Leasehold improvements 5% straight line basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 52 63
3 Tangible fixed assets
Leasehold improvements Fixtures and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 82,882 4,217,381 76,622 4,376,885
Additions - 65,563 15,000 80,563
Disposals - - (25,559) (25,559)
At 31 July 2024 82,882 4,282,944 66,063 4,431,889
Depreciation
At 1 August 2023 36,168 2,232,284 43,898 2,312,350
Charge for the year 4,144 201,788 10,056 215,988
On disposals - - (22,427) (22,427)
At 31 July 2024 40,312 2,434,072 31,527 2,505,911
Net book value
At 31 July 2024 42,570 1,848,872 34,536 1,925,978
At 31 July 2023 46,714 1,985,097 32,724 2,064,535
4 Debtors 2024 2023
£ £
Trade debtors 808,937 571,504
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 345,710 347,614
Obligations under finance lease and hire purchase contracts - 11,846
Trade creditors 277,073 561,251
Other taxes and social security costs 269,348 128,658
892,131 1,049,369
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 161,458
Obligations under finance lease and hire purchase contracts 12,757 12,641
Director's Current Account 13,116 57,256
25,873 231,355
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 509,072 355,208
The lender has a fixed and floating charge over all company assets as well as the leasehold premises known as Nawaab Hoover Building, No 7 Wester Avenue, Perivale, Middlesex.
8 Transactions with the directors
The Company leases a building from the Directors at full commercial rent.
9 Other information
R N Restaurant (Perivale) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The old Hoover Building, Western Avenue
Perivale
Greenford
Middlesex
UB6 8DW
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