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Company No: 14298994 (England and Wales)

DORIAN RESTAURANTS LIMITED

Unaudited Financial Statements
For the financial period from 01 September 2023 to 31 March 2024
Pages for filing with the registrar

DORIAN RESTAURANTS LIMITED

Unaudited Financial Statements

For the financial period from 01 September 2023 to 31 March 2024

Contents

DORIAN RESTAURANTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
DORIAN RESTAURANTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024 31.08.2023
£ £
Fixed assets
Tangible assets 3 666,188 732,436
666,188 732,436
Current assets
Stocks 66,398 30,000
Debtors 4 359,915 462,387
Cash at bank and in hand 168,607 28,342
594,920 520,729
Creditors: amounts falling due within one year 5 ( 1,012,680) ( 1,502,475)
Net current liabilities (417,760) (981,746)
Total assets less current liabilities 248,428 (249,310)
Net assets/(liabilities) 248,428 ( 249,310)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 248,427 ( 249,311 )
Total shareholder's funds/(deficit) 248,428 ( 249,310)

For the financial period ending 31 March 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 Dorian Restaurants Limited (registered number: 14298994) were approved and authorised for issue by the Director. They were signed on its behalf by:

C D'Sylva
Director

18 March 2025

DORIAN RESTAURANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 September 2023 to 31 March 2024
DORIAN RESTAURANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 September 2023 to 31 March 2024
1. Accounting policies

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

General information and basis of accounting

Dorian Restaurants 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 105-107 Talbot Road, London, W11 2AT, 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.

Reporting period length

The company changed its year end to 31 March 2024. Therefore the reporting period is 7 months from 1 September 2023 to 31 March 2024.

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.

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

Land and buildings 10 years straight line
Plant and machinery 3 years straight line
Fixtures and fittings 3 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
01.09.2023 to
31.03.2024
Year ended
31.08.2023
Number Number
Monthly average number of persons employed by the company during the period, including the director 55 27

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 September 2023 570,838 208,591 146,602 926,031
Additions 12,100 11,991 9,814 33,905
At 31 March 2024 582,938 220,582 156,416 959,936
Accumulated depreciation
At 01 September 2023 86,409 83,007 24,179 193,595
Charge for the financial period 33,874 36,853 29,426 100,153
At 31 March 2024 120,283 119,860 53,605 293,748
Net book value
At 31 March 2024 462,655 100,722 102,811 666,188
At 31 August 2023 484,429 125,584 122,423 732,436

4. Debtors

31.03.2024 31.08.2023
£ £
Trade debtors 51,411 427,297
Prepayments 65,938 14,270
Deferred tax asset 146,679 0
Other debtors 95,887 20,820
359,915 462,387

5. Creditors: amounts falling due within one year

31.03.2024 31.08.2023
£ £
Trade creditors 342,331 1,216,952
Accruals and deferred income 205,032 36,668
Other taxation and social security 203,441 76,162
Other creditors 261,876 172,693
1,012,680 1,502,475

6. Deferred tax

31.03.2024 31.08.2023
£ £
At the beginning of financial period 0 0
Credited to the Statement of Income and Retained Earnings 146,679 0
At the end of financial period 146,679 0

7. Called-up share capital

31.03.2024 31.08.2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.001 each 1 1

8. Related party transactions

Included within other creditors is a balance of £60,922 (2023: £536,546) owed to an entity with a common director. This balance is unsecured and interest free, with no fixed repayment terms.