Silverfin false false 31/10/2024 25/05/2023 31/10/2024 Mr S M McCluskey 25/05/2023 25 February 2025 The principal activity of the Company during the financial year was restaurateurs. SC770664 2024-10-31 SC770664 bus:Director1 2024-10-31 SC770664 2023-05-24 SC770664 core:CurrentFinancialInstruments 2024-10-31 SC770664 core:CurrentFinancialInstruments 2023-05-24 SC770664 core:ShareCapital 2024-10-31 SC770664 core:ShareCapital 2023-05-24 SC770664 core:FurtherSpecificReserve2ComponentTotalEquity 2024-10-31 SC770664 core:FurtherSpecificReserve2ComponentTotalEquity 2023-05-24 SC770664 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC770664 core:RetainedEarningsAccumulatedLosses 2023-05-24 SC770664 core:LeaseholdImprovements 2023-05-24 SC770664 core:PlantMachinery 2023-05-24 SC770664 core:FurnitureFittings 2023-05-24 SC770664 core:ComputerEquipment 2023-05-24 SC770664 core:LeaseholdImprovements 2024-10-31 SC770664 core:PlantMachinery 2024-10-31 SC770664 core:FurnitureFittings 2024-10-31 SC770664 core:ComputerEquipment 2024-10-31 SC770664 2023-05-25 2024-10-31 SC770664 bus:FilletedAccounts 2023-05-25 2024-10-31 SC770664 bus:SmallEntities 2023-05-25 2024-10-31 SC770664 bus:AuditExemptWithAccountantsReport 2023-05-25 2024-10-31 SC770664 bus:PrivateLimitedCompanyLtd 2023-05-25 2024-10-31 SC770664 bus:Director1 2023-05-25 2024-10-31 SC770664 core:LeaseholdImprovements 2023-05-25 2024-10-31 SC770664 core:PlantMachinery 2023-05-25 2024-10-31 SC770664 core:FurnitureFittings 2023-05-25 2024-10-31 SC770664 core:ComputerEquipment 2023-05-25 2024-10-31 SC770664 2022-11-01 2023-05-24 iso4217:GBP xbrli:pure

Company No: SC770664 (Scotland)

STOO LIMITED T/A PAZ TAQUERIA

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 25 MAY 2023 TO 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

STOO LIMITED T/A PAZ TAQUERIA

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 25 MAY 2023 TO 31 OCTOBER 2024

Contents

STOO LIMITED T/A PAZ TAQUERIA

BALANCE SHEET

AS AT 31 OCTOBER 2024
STOO LIMITED T/A PAZ TAQUERIA

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 31.10.2024 24.05.2023
£ £
Fixed assets
Tangible assets 3 30,152 0
30,152 0
Current assets
Stocks 4 5,408 0
Debtors 5 31,013 0
Cash at bank and in hand 8,306 0
44,727 0
Creditors: amounts falling due within one year 6 ( 159,436) 0
Net current liabilities (114,709) 0
Total assets less current liabilities (84,557) 0
Net liabilities ( 84,557) 0
Capital and reserves
Called-up share capital 0 0
Equity reserve 100 0
Profit and loss account ( 84,657 ) 0
Total shareholder's deficit ( 84,557) 0

For the financial period ending 31 October 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 STOO Limited T/a Paz Taqueria (registered number: SC770664) were approved and authorised for issue by the Director on 25 February 2025. They were signed on its behalf by:

Mr S M McCluskey
Director
STOO LIMITED T/A PAZ TAQUERIA

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 25 MAY 2023 TO 31 OCTOBER 2024
STOO LIMITED T/A PAZ TAQUERIA

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 25 MAY 2023 TO 31 OCTOBER 2024
1. Accounting policies

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

General information and basis of accounting

STOO Limited T/a Paz Taqueria (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 8 Davidson Road, Edinburgh, EH4 2PE, Scotland, 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.

Reporting period length

Reporting period length is 18 months.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the provision of restaurant services in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation. 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 of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 % reducing balance
Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance
Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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 materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
25.05.2023 to
31.10.2024
Period from
01.11.2022 to
24.05.2023
Number Number
Monthly average number of persons employed by the Company during the period, including the director 9 0

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 25 May 2023 0 0 0 0 0
Additions 6,947 20,551 7,792 2,265 37,555
At 31 October 2024 6,947 20,551 7,792 2,265 37,555
Accumulated depreciation
At 25 May 2023 0 0 0 0 0
Charge for the financial period 628 4,588 1,779 408 7,403
At 31 October 2024 628 4,588 1,779 408 7,403
Net book value
At 31 October 2024 6,319 15,963 6,013 1,857 30,152
At 24 May 2023 0 0 0 0 0

4. Stocks

31.10.2024 24.05.2023
£ £
Stocks 5,408 0

5. Debtors

31.10.2024 24.05.2023
£ £
Amounts owed by Group undertakings 25,122 0
Other debtors 5,891 0
31,013 0

6. Creditors: amounts falling due within one year

31.10.2024 24.05.2023
£ £
Trade creditors 35,350 0
Other taxation and social security 54,763 0
Other creditors 69,323 0
159,436 0

7. Related party transactions

Transactions with the entity's director

31.10.2024 24.05.2023
£ £
Amounts due to key management personnel 57,662 0

Advances

An advance for Amounts due to key management personnel was made by the director on 31 October 2024 for £57,662 (at interest rate of 0.00%).