Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalseThe principal activity continued to be that of a bar and restaurant venue.2023-04-015650truetrue 08548837 2023-04-01 2024-03-31 08548837 2022-04-01 2023-03-31 08548837 2024-03-31 08548837 2023-03-31 08548837 c:Director1 2023-04-01 2024-03-31 08548837 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 08548837 d:Buildings d:ShortLeaseholdAssets 2024-03-31 08548837 d:Buildings d:ShortLeaseholdAssets 2023-03-31 08548837 d:MotorVehicles 2023-04-01 2024-03-31 08548837 d:MotorVehicles 2024-03-31 08548837 d:MotorVehicles 2023-03-31 08548837 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08548837 d:FurnitureFittings 2023-04-01 2024-03-31 08548837 d:FurnitureFittings 2024-03-31 08548837 d:FurnitureFittings 2023-03-31 08548837 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08548837 d:ComputerEquipment 2023-04-01 2024-03-31 08548837 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08548837 d:CurrentFinancialInstruments 2024-03-31 08548837 d:CurrentFinancialInstruments 2023-03-31 08548837 d:Non-currentFinancialInstruments 2024-03-31 08548837 d:Non-currentFinancialInstruments 2023-03-31 08548837 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08548837 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08548837 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 08548837 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08548837 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 08548837 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08548837 d:ShareCapital 2024-03-31 08548837 d:ShareCapital 2023-03-31 08548837 d:RetainedEarningsAccumulatedLosses 2024-03-31 08548837 d:RetainedEarningsAccumulatedLosses 2023-03-31 08548837 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08548837 c:OrdinaryShareClass1 2024-03-31 08548837 c:OrdinaryShareClass1 2023-03-31 08548837 c:FRS102 2023-04-01 2024-03-31 08548837 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08548837 c:FullAccounts 2023-04-01 2024-03-31 08548837 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08548837 d:WithinOneYear 2024-03-31 08548837 d:WithinOneYear 2023-03-31 08548837 d:BetweenOneFiveYears 2024-03-31 08548837 d:BetweenOneFiveYears 2023-03-31 08548837 d:MoreThanFiveYears 2024-03-31 08548837 d:MoreThanFiveYears 2023-03-31 08548837 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 08548837 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 08548837 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 08548837 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 08548837 2 2023-04-01 2024-03-31 08548837 7 2023-04-01 2024-03-31 08548837 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08548837 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08548837 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08548837














OGNISKO RESTAURANT LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
OGNISKO RESTAURANT LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 10


 
OGNISKO RESTAURANT LIMITED
REGISTERED NUMBER:08548837

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
131,749
63,043

  
131,749
63,043

Current assets
  

Stocks
 5 
69,276
62,489

Debtors: amounts falling due within one year
 6 
1,103,811
735,867

Cash at bank and in hand
 7 
199,734
138,467

  
1,372,821
936,823

Creditors: amounts falling due within one year
 8 
(771,170)
(554,924)

Net current assets
  
 
 
601,651
 
 
381,899

Total assets less current liabilities
  
733,400
444,942

  

Creditors: amounts falling due after more than one year
 9 
(37,500)
(69,125)

  
695,900
375,817

Provisions for liabilities
  

Deferred taxation
 12 
(28,938)
(13,036)

  
 
 
(28,938)
 
 
(13,036)

  

Net assets excluding pension asset
  
666,962
362,781

Net assets
  
666,962
362,781


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
666,862
362,681

  
666,962
362,781


1

 
OGNISKO RESTAURANT LIMITED
REGISTERED NUMBER:08548837
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 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 on 10 February 2025.




J F M Woroniecki
Director

The notes on pages 3 to 10 form part of these financial statements.

2

 
OGNISKO RESTAURANT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ognisko Restaurant Limited is a private company, limited by shares, registered in England and Wales, registration number 08548837
The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. 
The principal place of business is 55 Prince's Gate, Exhibition Road, London, SW7 2PN.
The principal activity continued to be that of a bar and restaurant venue.

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 company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of bar and restaurant services during the year, exclusive of Value Added Tax.

 
2.3

Leased assets: the company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3

 
OGNISKO RESTAURANT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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 balance sheet 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 balance sheet 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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 balance sheet date.


4

 
OGNISKO RESTAURANT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

 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:

Improvements to leasehold
-
5 years straight line method
Motor vehicles
-
5 years straight line method
Fixtures and fittings
-
5 years straight line method
Artwork
-
0% depreciation

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.

Artwork has a residual value that is the same or possibly higher than cost, therefore no depreciation has been applied to those fixed asset items.

 
2.10

 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.

 
2.11

 Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.12

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.13

 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.

5

 
OGNISKO RESTAURANT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

 Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet.

 
2.15

 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 directors, during the year was 56 (2023 - 50).


4.


Tangible fixed assets





Leasehold improvements
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost 


At 1 April 2023
209,893
25,199
202,165
437,257


Additions
6,825
-
81,718
88,543



At 31 March 2024

216,718
25,199
283,883
525,800



Depreciation


At 1 April 2023
207,682
19,681
146,851
374,214


Charge for the year on owned assets
1,761
5,040
13,036
19,837



At 31 March 2024

209,443
24,721
159,887
394,051



Net book value



At 31 March 2024
7,275
478
123,996
131,749



At 31 March 2023
2,211
5,518
55,314
63,043

6

 
OGNISKO RESTAURANT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Stock
69,276
62,489



6.


Debtors

2024
2023
£
£


Trade debtors
49,191
51,346

Amounts owed by associated undertakings
583,667
419,127

Other debtors
419,037
260,508

Prepayments
51,916
4,886

1,103,811
735,867



7.


Cash

2024
2023
£
£

Cash at bank and in hand
199,734
138,467


7

 
OGNISKO RESTAURANT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
32,500
30,000

Trade creditors
344,302
288,120

Corporation tax
89,698
28,800

Other taxation and social security
134,885
104,543

Other creditors
104,149
46,835

Accruals
65,636
56,626

771,170
554,924


The following liabilities were secured:

2024
2023
£
£



Coronavirus Business Interruption Loan
32,500
30,000

Details of security provided:

The bank loan of £32,500 (2023 - £30,000) included in creditors due within one year is a Coronavirus
Business Interruption Loan, 100% guaranteed by the government.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
37,500
67,500

Net obligations under finance leases and hire purchase contracts
-
1,625


The following liabilities were secured:

2024
2023
£
£



Coronavirus Business Interruption Loan
37,500
67,500

Details of security provided:

The bank loan of £37,500 (2023 - £67,500) included in creditors due after more than one year is a
Coronavirus Business Interruption Loan, 100% guaranteed by the government.

8

 
OGNISKO RESTAURANT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
32,500
30,000

Amounts falling due 1-2 years

Bank loans
30,000
30,000

Amounts falling due 2-5 years

Bank loans
7,500
37,500


70,000
97,500



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
1,625
3,900

Between 1-5 years
-
1,625

1,625
5,525


12.


Deferred taxation




2024


£






At beginning of year
(13,036)


Charged to profit or loss
(15,902)



At end of year
(28,938)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(28,938)
(13,036)

9

 
OGNISKO RESTAURANT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) ordinary shares of £1.00 each
100
100



14.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £27,236 (2023 - £20,488). Contributions totalling £2,883 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


15.


Commitments under operating leases

At 31 March 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
124,620
127,745

Later than 1 year and not later than 5 years
480,000
484,620

Later than 5 years
420,000
540,000

1,024,620
1,152,365

 
10