REGISTERED NUMBER: |
Edinburgh Restaurant Two (Edinburgh) Ltd |
Unaudited Financial Statements |
for the Period 1 September 2023 to 31 July 2024 |
REGISTERED NUMBER: |
Edinburgh Restaurant Two (Edinburgh) Ltd |
Unaudited Financial Statements |
for the Period 1 September 2023 to 31 July 2024 |
Edinburgh Restaurant Two (Edinburgh) Ltd (Registered number: SC740332) |
Contents of the Financial Statements |
for the Period 1 September 2023 to 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Edinburgh Restaurant Two (Edinburgh) Ltd |
Company Information |
for the Period 1 September 2023 to 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
Broadwalk House |
5 Appold Street |
London |
EC2A 2AG |
Edinburgh Restaurant Two (Edinburgh) Ltd (Registered number: SC740332) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges her 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. |
Edinburgh Restaurant Two (Edinburgh) Ltd (Registered number: SC740332) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the director and authorised for issue on |
Edinburgh Restaurant Two (Edinburgh) Ltd (Registered number: SC740332) |
Notes to the Financial Statements |
for the Period 1 September 2023 to 31 July 2024 |
1. | STATUTORY INFORMATION |
Edinburgh Restaurant Two (Edinburgh) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and recognition |
Turnover represents net sales of restaurant food and drink, excluding value added tax. Turnover is |
recognised at the point of sale. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial |
instruments. Basic financial instruments are initially recognised at transaction value and subsequently |
measured at their settlement value. |
All loans with related parties are all repayable on demand. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Edinburgh Restaurant Two (Edinburgh) Ltd (Registered number: SC740332) |
Notes to the Financial Statements - continued |
for the Period 1 September 2023 to 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Provisions |
Provisions are recognised where the company has a present obligation as a result of a past event, it is |
probable the company will be required to settle the obligations, and a reliable estimate can be made of |
the obligations. The amount recognised as a provision is the best estimate of the consideration required |
to settle the present obligation at the end of the reporting period, taking into account the risks and |
uncertainties surrounding the obligation. |
Going concern |
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future. In order to do so the company will require the continued support from its directors and its related company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Edinburgh Restaurant Two (Edinburgh) Ltd (Registered number: SC740332) |
Notes to the Financial Statements - continued |
for the Period 1 September 2023 to 31 July 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 September 2023 |
Additions |
Reclassification/transfer | ( |
) |
At 31 July 2024 |
DEPRECIATION |
Charge for period |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 August 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
Edinburgh Restaurant Two (Edinburgh) Ltd (Registered number: SC740332) |
Notes to the Financial Statements - continued |
for the Period 1 September 2023 to 31 July 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts (see note 8) |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the periods ended 31 July 2024 and 31 August 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Director's loans are unsecured and repayable on demand. Interest is charged on loans repayable to the |
company at 2.25% per annum. Loans repayable by the company are interest free. |
Edinburgh Restaurant Two (Edinburgh) Ltd (Registered number: SC740332) |
Notes to the Financial Statements - continued |
for the Period 1 September 2023 to 31 July 2024 |
10. | RELATED PARTY DISCLOSURES |
The company has advanced loans to shareholders other than the directors. The loans are unsecured and |
have no fixed terms of repayment. Interest is charged at 2.25% on overdrawn balances. The balance |
due from shareholders at 31 July 2024 was £5,639 and amounts due to shareholders was £15,000 (2023 - NIL) |
Expenses were paid by a related company during the period to 31 July 2024 totalling £108,648 |
(2023 - £90,506). The balance due to the related company at 31 July 2024 was £199,154 (2023 - |
£90,506). |