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REGISTERED NUMBER: SC567090 (Scotland)















Financial Statements for the Year Ended 30 June 2024

for

FINDLAY'S RESTAURANT (SCOTLAND) LTD.

FINDLAY'S RESTAURANT (SCOTLAND) LTD. (REGISTERED NUMBER: SC567090)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


FINDLAY'S RESTAURANT (SCOTLAND) LTD. (REGISTERED NUMBER: SC567090)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 519,418 520,133

Current assets
Stocks 9,815 8,915
Debtors 5 8,402 7,667
Cash at bank and in hand 202,641 177,724
220,858 194,306
Creditors
Amounts falling due within one year 6 (195,045 ) (194,622 )
Net current assets/(liabilities) 25,813 (316 )
Total assets less current liabilities 545,231 519,817

Creditors
Amounts falling due after more than one
year

7

(241,962

)

(261,685

)

Provisions for liabilities (7,998 ) (6,649 )
Net assets 295,271 251,483

Capital and reserves
Called up share capital 9 2 2
Retained earnings 295,269 251,481
Shareholders' funds 295,271 251,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 March 2025 and were signed by:





J Findlay - Director


FINDLAY'S RESTAURANT (SCOTLAND) LTD. (REGISTERED NUMBER: SC567090)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statutory information

Findlay's Restaurant (Scotland) Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC567090

Registered office: Waterside Bistro
1-5 Waterside
Haddington
East Lothian
EH41 4AT

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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Restaurant services

Turnover from restaurant services is recognised when significant risks and rewards of ownership of the goods and services have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on settlement of the restaurant bill.

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

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings- 2% on cost.
Plant and machinery etc- 15% and 25% reducing balance, 20% on cost.


Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


FINDLAY'S RESTAURANT (SCOTLAND) LTD. (REGISTERED NUMBER: SC567090)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


2. Accounting policies - continued
Taxation
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation represents the future taxation consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits.

Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
The company operates money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year.

Operating leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Debtors and creditors receivable / payable within one year
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.

Bank and cash
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

3. Employees and directors

The average number of employees during the year was 31 (2023 - 36 ) .

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 July 2023 485,139 54,886 540,025
Additions - 5,754 5,754
At 30 June 2024 485,139 60,640 545,779
Depreciation
At 1 July 2023 - 19,892 19,892
Charge for year - 6,469 6,469
At 30 June 2024 - 26,361 26,361
Net book value
At 30 June 2024 485,139 34,279 519,418
At 30 June 2023 485,139 34,994 520,133

FINDLAY'S RESTAURANT (SCOTLAND) LTD. (REGISTERED NUMBER: SC567090)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 8,402 7,667

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 19,094 18,685
Trade creditors 51,675 63,999
Taxation and social security 72,670 63,274
Other creditors 51,606 48,664
195,045 194,622

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 241,962 261,685

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 194,721 206,051

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 261,056 280,370

The Royal Bank of Scotland PLC hold a floating charge and first ranking standard security over Waterside Bistro, 1-5 Waterside, Haddington.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2