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Registered number: 13276219














16CS LEASE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
16CS LEASE LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
16CS LEASE LTD
REGISTERED NUMBER:13276219

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
673,500
-

Debtors: amounts falling due within one year
 4 
1,342,678
891,306

Cash at bank and in hand
  
14,072
51,116

  
2,030,250
942,422

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(1,914,351)
(964,825)

Net current assets/(liabilities)
  
 
 
115,899
 
 
(22,403)

Total assets less current liabilities
  
115,899
(22,403)

Creditors: amounts falling due after more than one year
 6 
(133,500)
-

  

Net liabilities
  
(17,601)
(22,403)


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
(18,601)
(23,403)

  
(17,601)
(22,403)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 February 2025.




A Rossoz
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
16CS LEASE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

16CS Lease Limited is a private limited liability company registered in England and Wales. Its registered office address is at 2nd Floor Connaught House, 1-3 Mount Street, London, W1K 3NB.
The principal activity of the company is the holding of a lease for a restaurant.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the reporting date the company has net liabilities. After the reporting date the parent company has obtained a commitment from its investors to provide further investment of £16M to the group. The directors also have other plans for raising further investment in the future. The committed investments and additional investments are in the opinion of the directors sufficient for the group to carry on trading and meet their financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. Therefore the accounts have been prepared under the going concern basis.

 
2.3

Foreign currency translation

The Company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover comprises rent similar costs that are recharged to a related party who uses the premise to operate restaurants. Recharges are recognised in the same period as the costs that are being recharged.

Page 2

 
16CS LEASE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 2).

Page 3

 
16CS LEASE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
540,000
-

Prepayments and accrued income
133,500
-

673,500
-


2023
2022
£
£

Due within one year

Amounts owed by group undertakings
-
1,000

Other debtors
18,167
9,631

Prepayments and accrued income
1,324,511
880,675

1,342,678
891,306



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
75,550
110,596

Amounts owed to group undertakings
1,836,126
852,629

Accruals and deferred income
2,675
1,600

1,914,351
964,825



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Accruals and deferred income
133,500
-


Page 4

 
16CS LEASE LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 Ordinary shares of £1 each
1,000
1,000



8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Later than 1 year and not later than 5 years
2,175,000
1,275,000

Later than 5 years
16,950,000
17,850,000

19,125,000
19,125,000


9.


Post balance sheet events

The restaurant is continuing to be refurbished in 2024. The director intends to open the restaurant in 2025 or 2026.


10.


Parent undertaking

The immediate parent undertaking is 16CS Holding Ltd, a company registered in England and Wales. It's registered office is at 2nd Floor Connaught House, 1-3 Mount Street, London, W1K 3NB.
At reporting date the ultimate parent undertaking was 7 Rodier SAS, a company registered in France. Its registered office address is at 63 Avenue Franklin Roosevelt, 75008 Paris, France.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 17 February 2025 by Martyn Atkinson FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 5