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Company No: 00885145 (England and Wales)

TEDDY BEAR (RESTAURANTS) LIMITED

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

TEDDY BEAR (RESTAURANTS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

TEDDY BEAR (RESTAURANTS) LIMITED

BALANCE SHEET

As at 31 May 2024
TEDDY BEAR (RESTAURANTS) LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 3,439 3,604
Investment property 5 565,000 565,000
568,439 568,604
Current assets
Debtors 6 7,547 11,771
Cash at bank and in hand 4,839 21,012
12,386 32,783
Creditors: amounts falling due within one year 7 ( 5,504) ( 9,166)
Net current assets 6,882 23,617
Total assets less current liabilities 575,321 592,221
Provision for liabilities ( 78,694) ( 78,646)
Net assets 496,627 513,575
Capital and reserves
Called-up share capital 8 2,000 2,000
Profit and loss account 10 494,627 511,575
Total shareholders' funds 496,627 513,575

For the financial year ending 31 May 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 Teddy Bear (Restaurants) Limited (registered number: 00885145) were approved and authorised for issue by the Director on 16 February 2025. They were signed on its behalf by:

Mr N V Smith
Director
TEDDY BEAR (RESTAURANTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
TEDDY BEAR (RESTAURANTS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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

Teddy Bear (Restaurants) Limited (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 Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable in respect of the rental of investment properties. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and is accrued on a time basis.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 % reducing balance
Fixtures and fittings 10 % 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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, management are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects current and future periods.

The key estimates that have a significant effect on the amounts recognised in the financial statements are described below:

Investment properties are carried at fair value, which requires estimation as to the current market value of the properties. The carrying amount is £565,000 (2023 - £565,000).

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 01 June 2023 699 14,503 15,202
Additions 215 0 215
At 31 May 2024 914 14,503 15,417
Accumulated depreciation
At 01 June 2023 659 10,939 11,598
Charge for the financial year 24 356 380
At 31 May 2024 683 11,295 11,978
Net book value
At 31 May 2024 231 3,208 3,439
At 31 May 2023 40 3,564 3,604

5. Investment property

Investment property
£
Valuation
As at 01 June 2023 565,000
As at 31 May 2024 565,000

Valuation

The investment properties owned by the company were revalued by the director, Mr N V Smith, on 31 May 2024 on an open market basis. There has been no valuation of investment property by an independent valuer.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 131,619 131,619

6. Debtors

2024 2023
£ £
Trade debtors 874 1,657
Other debtors 6,673 10,114
7,547 11,771

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 219 4,103
Other creditors 5,285 5,063
5,504 9,166

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,694 Ordinary shares shares of £ 1.00 each (2023: 2,000 shares of £ 1.00 each) 1,694 2,000
306 Ordinary A shares shares of £ 1.00 each (2023: nil shares) 306 0
2,000 2,000

During the year, 306 Ordinary shares were reclassified to Ordinary A Shares.

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Directors Loan Account 5,237 2,301

Advances

Advances to the Director and his wife were made during the year to 31 May 2024 of £17,436 (2023: £2,301) and repayments of £14,500 were made. This leaves the directors loan account at a balance of £5,237 (2023: £2,301). This loan is interest free and repayable on demand.

10. Profit and loss account

2024 2023
£ £
Non-distributable reserves 354,735 354,735
Distributable reserves 164,356 156,840
519,091 511,575

The non-distributable reserves relate to the revaluation surplus on the investment properties.