Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseThe principal activity of the company continued to be that of the running of bars and restaurants.1313truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05903818 2023-04-01 2024-03-31 05903818 2021-10-01 2023-03-31 05903818 2024-03-31 05903818 2023-03-31 05903818 c:Director2 2023-04-01 2024-03-31 05903818 d:MotorVehicles 2023-04-01 2024-03-31 05903818 d:MotorVehicles 2024-03-31 05903818 d:MotorVehicles 2023-03-31 05903818 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05903818 d:FurnitureFittings 2023-04-01 2024-03-31 05903818 d:FurnitureFittings 2024-03-31 05903818 d:FurnitureFittings 2023-03-31 05903818 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05903818 d:OfficeEquipment 2023-04-01 2024-03-31 05903818 d:OfficeEquipment 2024-03-31 05903818 d:OfficeEquipment 2023-03-31 05903818 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05903818 d:ComputerEquipment 2023-04-01 2024-03-31 05903818 d:ComputerEquipment 2024-03-31 05903818 d:ComputerEquipment 2023-03-31 05903818 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05903818 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05903818 d:CurrentFinancialInstruments 2024-03-31 05903818 d:CurrentFinancialInstruments 2023-03-31 05903818 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05903818 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05903818 d:ShareCapital 2024-03-31 05903818 d:ShareCapital 2023-03-31 05903818 d:RetainedEarningsAccumulatedLosses 2024-03-31 05903818 d:RetainedEarningsAccumulatedLosses 2023-03-31 05903818 c:OrdinaryShareClass1 2023-04-01 2024-03-31 05903818 c:OrdinaryShareClass1 2024-03-31 05903818 c:OrdinaryShareClass1 2023-03-31 05903818 c:FRS102 2023-04-01 2024-03-31 05903818 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05903818 c:FullAccounts 2023-04-01 2024-03-31 05903818 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05903818 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 05903818 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05903818 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 05903818 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 05903818 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05903818












FIRST RESTAURANTS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
FIRST RESTAURANTS LIMITED
REGISTERED NUMBER:05903818

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
46,708
58,070

  
46,708
58,070

Current assets
  

Debtors: amounts falling due within one year
 5 
1,859,718
1,999,993

Cash at bank
 6 
7,446
4,614

  
1,867,164
2,004,607

Creditors: amounts falling due within one year
 7 
(3,888,993)
(4,029,732)

Net current liabilities
  
 
 
(2,021,829)
 
 
(2,025,125)

Total assets less current liabilities
  
(1,975,121)
(1,967,055)

  

Net liabilities
  
(1,975,121)
(1,967,055)


Capital and reserves
  

Called up share capital 
 8 
10
10

Profit and loss account
  
(1,975,131)
(1,967,065)

  
(1,975,121)
(1,967,055)


Page 1

 
FIRST RESTAURANTS LIMITED
REGISTERED NUMBER:05903818
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 by: 




M H Tillman
Director

Date: 28 February 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FIRST RESTAURANTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

First Restaurants Limited is a private company, limited by shares, registered in England and Wales, registration number 05903818. The registered office address is 18 Bristol Gardens, London, W9 2JQ.

The principal activity of the company continued to be that of the running of bars and restaurants.

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 Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

  
2.2

Functional and presentational currency

The company's functional and presentational currency is pound sterling.

 
2.3

Going concern

On the basis of information and enquiries that are pertinent to the company’s circumstances and which the directors believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular the directors believe that adequate cash resources will be available to cover the company’s requirements for working capital for at least twelve months from the date of signing the financial statements.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Turnover from the running of bars and restaurants is recognised when it is probable the company will receive the rights to the consideration due under the contract.

 
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.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 
FIRST RESTAURANTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
straight-line
Fixtures and fittings
-
20%
straight-line
Office equipment
-
20%
straight-line
Computer equipment
-
20%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 4

 
FIRST RESTAURANTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, trade and other creditors, and loans with related parties.


3.


Employees

The average monthly number of employees, including the directors, during the year was 13 (2023 - 13).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost 


At 1 April 2023
68,307
33,180
45,434
114,456
261,377


Additions
7,000
-
-
3,514
10,514



At 31 March 2024

75,307
33,180
45,434
117,970
271,891



Depreciation


At 1 April 2023
31,754
16,611
45,131
109,811
203,307


Charge for the year
14,226
6,636
(33)
1,047
21,876



At 31 March 2024

45,980
23,247
45,098
110,858
225,183



Net book value



At 31 March 2024
29,327
9,933
336
7,112
46,708



At 31 March 2023
36,553
16,569
303
4,645
58,070

Page 5

 
FIRST RESTAURANTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
340
7,904

Amounts owed by connected entities
1,841,757
1,981,413

Other debtors
300
300

Called up share capital not paid
8
8

Prepayments
10,051
7,050

Deferred taxation
7,262
3,318

1,859,718
1,999,993



6.


Cash

2024
2023
£
£

Cash at bank
7,446
4,614



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
15,876
19,743

Amounts owed to connected entities
3,777,378
3,869,358

Corporation tax
1,011
1,689

Other taxation and social security
79,856
51,001

Other creditors
9,098
81,207

Accruals
5,774
6,734

3,888,993
4,029,732



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2

Allotted, called up and unpaid



8 (2023 - 8) Ordinary shares of £1.00 each
8
8

Page 6

 
FIRST RESTAURANTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024


£






At beginning of year
(3,318)


Charged to profit or loss
(3,944)



At end of year
(7,262)

The deferred tax asset is made up as follows:

2024
2023
£
£


Fixed assets timing differences
(6,364)
(2,785)

Short term timing differences
(898)
(533)

(7,262)
(3,318)


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £25,340 (2023 - £26,907). Contributions totalling £4,456 (2023 - £4,211) were payable to the fund at the balance sheet date and are included in creditors.


11.


Transactions with directors

As at the year end, the company owed £NIL (2023 - £72,287) to the director. The loan was unsecured, interest free and repayable on demand. 

12.


Controlling party

The company is under the control of the of M H Tillman, a director and majority shareholder of the company.
 
Page 7