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Company No: 05366716 (England and Wales)

STEAKHOUSE ERA LIMITED
(Formerly The OHH Pub Company Limited)

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

STEAKHOUSE ERA LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

STEAKHOUSE ERA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
STEAKHOUSE ERA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,358,414 1,522,712
1,358,414 1,522,712
Current assets
Stocks 0 17,618
Debtors 4 214,398 42,136
Cash at bank and in hand 368 14,944
214,766 74,698
Creditors: amounts falling due within one year 5 ( 1,082,425) ( 1,062,004)
Net current liabilities (867,659) (987,306)
Total assets less current liabilities 490,755 535,406
Creditors: amounts falling due after more than one year 6 ( 52,285) ( 53,184)
Provision for liabilities ( 50,865) ( 82,580)
Net assets 387,605 399,642
Capital and reserves
Called-up share capital 7 500 411
Capital redemption reserve 79 79
Profit and loss account 387,026 399,152
Total shareholder's funds 387,605 399,642

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Steakhouse Era Limited (registered number: 05366716) were approved and authorised for issue by the Director on 12 March 2025. They were signed on its behalf by:

Mark David Warburton
Director
STEAKHOUSE ERA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
STEAKHOUSE ERA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Steakhouse Era Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom. The companies trading address is 63 Queen Square, Bristol, BS1 4JZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

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. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements 20 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Land and buildings were valued on a cost basis.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 38 90

3. Tangible assets

Land and buildings Leasehold improve-
ments
Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 October 2023 1,228,898 149,677 78,846 283,424 1,740,845
Additions 0 0 0 7,511 7,511
Disposals 0 ( 149,677) 0 ( 2,452) ( 152,129)
At 30 September 2024 1,228,898 0 78,846 288,483 1,596,227
Accumulated depreciation
At 01 October 2023 0 23,251 22,994 171,888 218,133
Charge for the financial year 0 6,237 13,963 30,248 50,448
Disposals 0 ( 29,488) 0 ( 1,280) ( 30,768)
At 30 September 2024 0 0 36,957 200,856 237,813
Net book value
At 30 September 2024 1,228,898 0 41,889 87,627 1,358,414
At 30 September 2023 1,228,898 126,426 55,852 111,536 1,522,712

4. Debtors

2024 2023
£ £
Trade debtors 16,244 90
Amounts owed by director 2,531 0
Prepayments 396 17,711
Other debtors 195,227 24,335
214,398 42,136

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,576 81,066
Trade creditors 26,703 122,942
Amounts owed to related parties 108,452 46,798
Amounts owed to director 0 2,010
Accruals 3,000 58,685
Taxation and social security 157,278 297,259
Obligations under finance leases and hire purchase contracts 10,221 11,558
Other creditors 773,195 441,686
1,082,425 1,062,004

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 52,285 53,184

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary A1 shares of £ 0.05 each (2023: 8,215 shares of £ 0.05 each) 500 411

On 24/10/2023 1785 Ordinary A1 shares were issued with a nominal value of £0.05 each.

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed by (to) directors 2,531 (2,010)

Advances were made to the directors during the year totalling £4,541. The loan is interest free and has no fixed date for repayment. The amount outstanding at the year end was £2,531.