REGISTERED NUMBER: |
MERIDIAN RESTAURANTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 27TH JUNE 2024 |
REGISTERED NUMBER: |
MERIDIAN RESTAURANTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 27TH JUNE 2024 |
MERIDIAN RESTAURANTS LIMITED (REGISTERED NUMBER: 09065421) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 27TH JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
MERIDIAN RESTAURANTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 27TH JUNE 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Registered Auditors |
16 Lambourne Crescent |
Cardiff Business Park |
Llanishen |
Cardiff |
CF14 5GF |
MERIDIAN RESTAURANTS LIMITED (REGISTERED NUMBER: 09065421) |
BALANCE SHEET |
27TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
MERIDIAN RESTAURANTS LIMITED (REGISTERED NUMBER: 09065421) |
BALANCE SHEET - continued |
27TH JUNE 2024 |
The financial statements were approved by the director and authorised for issue on |
MERIDIAN RESTAURANTS LIMITED (REGISTERED NUMBER: 09065421) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 27TH JUNE 2024 |
1. | STATUTORY INFORMATION |
Meridian Restaurants Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a basis other than going concern. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold Property - 2% reducing balance |
Plant & Machinery - 25% reducing balance |
Fixtures & Fittings - 25% reducing balance |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
MERIDIAN RESTAURANTS LIMITED (REGISTERED NUMBER: 09065421) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 27TH JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 28th June 2023 |
Additions |
At 27th June 2024 |
DEPRECIATION |
At 28th June 2023 |
Charge for year |
At 27th June 2024 |
NET BOOK VALUE |
At 27th June 2024 |
At 27th June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
MERIDIAN RESTAURANTS LIMITED (REGISTERED NUMBER: 09065421) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 27TH JUNE 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Effective from September 2015, Santander holds a fixed charge over the leasehold property as well as fixed and floating charges over other assets held by the company. |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 1,997 | 2,427 |
Deferred |
tax |
£ |
Balance at 28th June 2023 |
Provided during year | ( |
) |
Balance at 27th June 2024 |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 27th June 2024 and 27th June 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
Interest has been charged to the company on the loan provided above and is included in these financial statements.The amount of this interest is £10,000 (2023 £10,000). |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is N Chan. |