Registered number
12574822
The Steak Shop Limited
Unaudited Filleted Accounts
30 June 2024
The Steak Shop Limited
Registered number: 12574822
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,056 19,195
Current assets
Stocks 7,766 7,474
Debtors 4 59,625 58,625
Investments held as current assets 5 821,510 -
Cash at bank and in hand 18,454 684,411
907,355 750,510
Creditors: amounts falling due within one year 6 (312,208) (293,163)
Net current assets 595,147 457,347
Total assets less current liabilities 608,203 476,542
Provisions for liabilities (74,000) (74,000)
Net assets 534,203 402,542
Capital and reserves
Called up share capital 100 100
Profit and loss account 534,103 402,442
Shareholders' funds 534,203 402,542
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Davies
Director
Approved by the board on 14 March 2025
The Steak Shop Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 24 22
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 23,178 15,625 38,803
Additions 867 - 867
At 30 June 2024 24,045 15,625 39,670
Depreciation
At 1 July 2023 12,771 6,837 19,608
Charge for the year 4,809 2,197 7,006
At 30 June 2024 17,580 9,034 26,614
Net book value
At 30 June 2024 6,465 6,591 13,056
At 30 June 2023 10,407 8,788 19,195
4 Debtors 2024 2023
£ £
Other debtors 59,625 58,625
5 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 821,510 -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 22,270 -
The company purchased a portfolio of listed investments for a cost of £800,136, including income received from the investments during the year and re-invested in the portfolio. The value of the portfolio at 30 June 2024 was £821,510 after charges of £896.
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 154,470 136,615
Taxation and social security costs 72,780 67,310
Other creditors 84,958 89,238
312,208 293,163
7 Related party transactions
Rent, rates and services paid includes £76,500 (2023: £76,073) paid to Mybee Limited, a company registered in England with common shareholders.
8 Controlling party
The controlling parties are Kim Davies, along with her husband, Ian Davies, who between them control 75% of the company.
9 Other information
The Steak Shop Limited is a private company limited by shares and incorporated in England. Its registered office is:
Room 601, Dephna Kitchens
2 Portal Way
London
W3 6RT
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