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REGISTERED NUMBER: 10537198 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

THE COAL SHED ONE TOWER BRIDGE LTD

THE COAL SHED ONE TOWER BRIDGE LTD (REGISTERED NUMBER: 10537198)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE COAL SHED ONE TOWER BRIDGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: R Helalat





REGISTERED OFFICE: 15 West Street
Brighton
East Sussex
BN1 2RL





REGISTERED NUMBER: 10537198 (England and Wales)





ACCOUNTANTS: Galloways Accounting
15 West Street
Brighton
East Sussex
BN1 2RL

THE COAL SHED ONE TOWER BRIDGE LTD (REGISTERED NUMBER: 10537198)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,000 3,000
Tangible assets 5 987,718 1,052,565
989,718 1,055,565

CURRENT ASSETS
Stocks 28,346 26,569
Debtors 6 68,501 45,782
Cash at bank and in hand 201,289 515,844
298,136 588,195
CREDITORS
Amounts falling due within one year 7 (2,550,594 ) (2,977,488 )
NET CURRENT LIABILITIES (2,252,458 ) (2,389,293 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,262,740

)

(1,333,728

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,262,840 ) (1,333,828 )
(1,262,740 ) (1,333,728 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





R Helalat - Director


THE COAL SHED ONE TOWER BRIDGE LTD (REGISTERED NUMBER: 10537198)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

The Coal Shed One Tower Bridge Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the usual trade of a restaurant.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over the estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the term of the lease
Improvements to property - over the term of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

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.

THE COAL SHED ONE TOWER BRIDGE LTD (REGISTERED NUMBER: 10537198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Going concern
The director acknowledges the net liabilities position and has agreed with the parent company that they will not recall the amounts owed to them. In addition, the parent company has confirmed it will continue to support the company so it is able to fulfil its obligations as they fall due.

Therefore, the director believes that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of the approval of these financial statements. The director has concluded that the going concern basis of preparation of these financial statements is appropriate.

3. EMPLOYEES

The average number of employees during the year was 39 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 June 2023
and 31 May 2024 5,000
AMORTISATION
At 1 June 2023 2,000
Amortisation for year 1,000
At 31 May 2024 3,000
NET BOOK VALUE
At 31 May 2024 2,000
At 31 May 2023 3,000

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 June 2023 105,459 1,022,601 237,064
Additions - - 15,714
At 31 May 2024 105,459 1,022,601 252,778
DEPRECIATION
At 1 June 2023 25,310 245,440 159,103
Charge for year 4,218 40,904 16,724
At 31 May 2024 29,528 286,344 175,827
NET BOOK VALUE
At 31 May 2024 75,931 736,257 76,951
At 31 May 2023 80,149 777,161 77,961

THE COAL SHED ONE TOWER BRIDGE LTD (REGISTERED NUMBER: 10537198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 238,915 26,877 1,630,916
Additions - - 15,714
At 31 May 2024 238,915 26,877 1,646,630
DEPRECIATION
At 1 June 2023 127,849 20,649 578,351
Charge for year 16,660 2,055 80,561
At 31 May 2024 144,509 22,704 658,912
NET BOOK VALUE
At 31 May 2024 94,406 4,173 987,718
At 31 May 2023 111,066 6,228 1,052,565

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 360
Other debtors 68,501 45,422
68,501 45,782

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 45,000
Trade creditors 657,340 452,581
Amounts owed to group undertakings 1,756,658 2,009,401
Taxation and social security 87,746 115,393
Other creditors 48,850 355,113
2,550,594 2,977,488

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 175,000 175,000
Between one and five years 700,000 700,000
In more than five years 2,304,167 2,479,167
3,179,167 3,354,167

THE COAL SHED ONE TOWER BRIDGE LTD (REGISTERED NUMBER: 10537198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 45,000

The bank loans were fully repaid in September 2023 and October 2023.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions of Financial Reporting Standard 102 section 33.1A from disclosing transactions with fellow wholly owned group companies.


Companies under common control
Amounts
due from

Amounts
due to
£ £
Opening balance 8,267 5,034
Amounts advanced - 63
Amounts repaid (7,998) -
Closing balance 269 5,097
These balances are included in debtors and creditors respectively.