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Registered number: 12194552










RIOS BRAZILIAN STEAKHOUSE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
RIOS BRAZILIAN STEAKHOUSE LIMITED
REGISTERED NUMBER: 12194552

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
£
£

FIXED ASSETS

Intangible assets
2,917
7,917

Tangible assets
1,890,456
713,888

1,893,373
721,805

CURRENT ASSETS

Stocks
78,000
52,000

Debtors: amounts falling due within one year
140,822
139,132

Cash at bank and in hand
503,536
944,099

722,358
1,135,231

Creditors: amounts falling due within one year
(2,087,487)
(1,499,144)

NET CURRENT LIABILITIES
 
 
(1,365,129)
 
 
(363,913)

TOTAL ASSETS LESS CURRENT LIABILITIES
528,244
357,892


NET ASSETS
528,244
357,892


CAPITAL AND RESERVES

Called up share capital 
100
100

Profit and loss account
528,144
357,792

528,244
357,892


Page 1

 
RIOS BRAZILIAN STEAKHOUSE LIMITED
REGISTERED NUMBER: 12194552
    
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 period 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 statement of income and retained earnings 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: 




Mr H S Eggleston
Director

Date: 28 March 2025

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

Page 2

 
RIOS BRAZILIAN STEAKHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

The company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
The Old Offices
Urlay Nook Road
Eaglescliffe
TS16 0LA 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The director, having made due and careful enquiry, is of the opinion that the company has adequate working capital to execute its operations for the next 12 months as he will continue to support the company financially. 

 
2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.4

TAXATION

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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


Page 3

 
RIOS BRAZILIAN STEAKHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

INTANGIBLE ASSETS

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
5 years

 
2.6

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 and reducing balance method.

Depreciation is provided on the following basis:

Leasehold improvements
-
5 years straight line
Fixtures & fittings
-
25% reducing balance
Office equipment
-

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 234 (2023 - 192).

Page 4

 
RIOS BRAZILIAN STEAKHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


INTANGIBLE ASSETS



Goodwill

£



Cost


At 1 April 2023
25,000



At 31 March 2024

25,000



Amortisation


At 1 April 2023
17,083


Charge for the period on owned assets
5,000



At 31 March 2024

22,083



Net book value



At 31 March 2024
2,917



Page 5

 
RIOS BRAZILIAN STEAKHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


TANGIBLE FIXED ASSETS





Long-term leasehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
185,720
836,819
12,413
1,034,952


Additions
506,229
1,060,401
4,304
1,570,934



At 31 March 2024

691,949
1,897,220
16,717
2,605,886



Depreciation


At 1 April 2023
41,506
277,771
1,787
321,064


Charge for the period on owned assets
82,611
308,136
3,619
394,366



At 31 March 2024

124,117
585,907
5,406
715,430



Net book value



At 31 March 2024
567,832
1,311,313
11,311
1,890,456


6.


DEBTORS

2024
2023
£
£


Trade debtors
700
2,588

Other debtors
3,056
54,306

Prepayments and accrued income
137,066
82,238

140,822
139,132



7.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
503,536
944,099

503,536
944,099


Page 6

 
RIOS BRAZILIAN STEAKHOUSE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Trade creditors
985,211
516,413

Corporation tax
-
11,502

Other taxation and social security
674,111
534,333

Other creditors
409,853
431,099

Accruals and deferred income
18,312
5,797

2,087,487
1,499,144



9.


RELATED PARTY TRANSACTIONS

At 31 March 2024, the company owed £264,203 (2023: £461,541) to Tomahawk Steakhouses (Newcastle) Limited, a business in which the director is a shareholder. 
At 31 March 2024, the company owed £53,614 (2023: £29,923) to Tomahawk Steakhouses Limited, a business in which the director is a shareholder. 
At 31 March 2024, the company was owed £47,055 (2023: £79,933) from Tomahawk Steakhouse (Darlington) Limited, a business in which the director is a shareholder.

 
Page 7