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REGISTERED NUMBER: 07636495 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

THE COALSHED RESTAURANT LTD

THE COALSHED RESTAURANT LTD (REGISTERED NUMBER: 07636495)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE COALSHED RESTAURANT 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: 07636495 (England and Wales)





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

THE COALSHED RESTAURANT LTD (REGISTERED NUMBER: 07636495)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,000 3,000
Tangible assets 5 2,248,369 283,311
2,250,369 286,311

CURRENT ASSETS
Stocks 20,661 24,944
Debtors 6 1,099,516 1,299,240
Cash at bank and in hand 144,035 321,378
1,264,212 1,645,562
CREDITORS
Amounts falling due within one year 7 (1,553,936 ) (964,467 )
NET CURRENT (LIABILITIES)/ASSETS (289,724 ) 681,095
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,960,645

967,406

CREDITORS
Amounts falling due after more than one
year

8

(852,765

)

-

PROVISIONS FOR LIABILITIES 11 (13,000 ) (16,000 )
NET ASSETS 1,094,880 951,406

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,094,780 951,306
1,094,880 951,406

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 COALSHED RESTAURANT LTD (REGISTERED NUMBER: 07636495)

BALANCE SHEET - continued
31 MAY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





R Helalat - Director


THE COALSHED RESTAURANT LTD (REGISTERED NUMBER: 07636495)

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


1. STATUTORY INFORMATION

The Coalshed Restaurant 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

Assets under construction are provided with no depreciation, as the assets are not yet brought into use by the company. Once the assets are brought into use, a depreciation rate will be assigned.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


THE COALSHED RESTAURANT LTD (REGISTERED NUMBER: 07636495)

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


2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
After reviewing the company's forecasts, 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. Therefore, the director has concluded that the going concern basis of preparation of these financial statements remains appropriate.

3. EMPLOYEES

The average number of employees during the year was 33 (2023 - 31 ) .

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

THE COALSHED RESTAURANT LTD (REGISTERED NUMBER: 07636495)

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


5. TANGIBLE FIXED ASSETS
Assets Improvemen
Short under to
leasehold construction property
£    £    £   
COST
At 1 June 2023 75,895 - 225,154
Additions - 2,000,314 -
At 31 May 2024 75,895 2,000,314 225,154
DEPRECIATION
At 1 June 2023 44,987 - 38,477
Charge for year 3,795 - 18,763
At 31 May 2024 48,782 - 57,240
NET BOOK VALUE
At 31 May 2024 27,113 2,000,314 167,914
At 31 May 2023 30,908 - 186,677

Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 150,000 91,856 26,760 569,665
Additions - - - 2,000,314
At 31 May 2024 150,000 91,856 26,760 2,569,979
DEPRECIATION
At 1 June 2023 110,045 70,751 22,094 286,354
Charge for year 7,992 3,166 1,540 35,256
At 31 May 2024 118,037 73,917 23,634 321,610
NET BOOK VALUE
At 31 May 2024 31,963 17,939 3,126 2,248,369
At 31 May 2023 39,955 21,105 4,666 283,311

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 860,745 1,170,547
Other debtors 238,771 128,693
1,099,516 1,299,240

THE COALSHED RESTAURANT LTD (REGISTERED NUMBER: 07636495)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 532,672 -
Trade creditors 140,510 125,846
Amounts owed to group undertakings 781,865 572,628
Taxation and social security 16,434 192,155
Other creditors 82,455 73,838
1,553,936 964,467

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 852,765 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 186,892 -

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 42,975 42,975
Between one and five years 171,900 171,900
In more than five years 93,112 136,088
307,987 350,963

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,385,437 -

The bank loans were secured by fixed charges over assets owned by the company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 13,000 16,000

Deferred
tax
£   
Balance at 1 June 2023 16,000
Provided during year (3,000 )
Balance at 31 May 2024 13,000

THE COALSHED RESTAURANT LTD (REGISTERED NUMBER: 07636495)

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


12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:
20242023
££
Balance outstanding at start of year41,88853,672
Amounts advanced63,703140,743
Amounts repaid(65,526)(152,528)
Balance outstanding at end of year40,06541,888
Interest has been charged on the overdrawn loan account at a rate of 2.25% (2023: 2%). The loan is repayable on demand.

13. 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
£
Opening balance 43,323
Amounts advanced 87,086
Amounts repaid (68,662)
Closing balance 61,747
This balance is included in debtors.