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Company registration number: 03631136
Lambs Restaurant (Stratford upon Avon) Limited
Unaudited filleted financial statements
for the year ended
30 September 2024
Prepared by:
THOMAS NOCK MARTIN LIMITED
CHARTERED ACCOUNTANTS
BRIERLEY HILL
Lambs Restaurant (Stratford upon Avon) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Lambs Restaurant (Stratford upon Avon) Limited
Directors and other information
Directors Marcos Torres-Siddens
Kim Torres-Siddens
Secretary Marcos Torres-Siddens
Company number 03631136
Registered office 5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Business address 12 Sheep Street
Stratford upon Avon
Warwickshire
CV37 6EF
Accountants Thomas Nock Martin Limited
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Lambs Restaurant (Stratford upon Avon) Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Lambs Restaurant (Stratford upon Avon) Limited
Year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lambs Restaurant (Stratford upon Avon) Limited for the year ended 30 September 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Lambs Restaurant (Stratford upon Avon) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lambs Restaurant (Stratford upon Avon) Limited and state those matters that we have agreed to state to the board of directors of Lambs Restaurant (Stratford upon Avon) Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lambs Restaurant (Stratford upon Avon) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Lambs Restaurant (Stratford upon Avon) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lambs Restaurant (Stratford upon Avon) Limited. You consider that Lambs Restaurant (Stratford upon Avon) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lambs Restaurant (Stratford upon Avon) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Thomas Nock Martin Limited
Chartered Accountants
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
10 April 2025
Lambs Restaurant (Stratford upon Avon) Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 39,426 37,253
_______ _______
39,426 37,253
Current assets
Stocks 14,013 13,280
Debtors 8 60,281 3,449
Cash at bank and in hand 406,765 604,641
_______ _______
481,059 621,370
Creditors: amounts falling due
within one year 9 ( 288,062) ( 394,775)
_______ _______
Net current assets 192,997 226,595
_______ _______
Total assets less current liabilities 232,423 263,848
Creditors: amounts falling due
after more than one year 10 ( 7,285) ( 16,666)
Provisions for liabilities ( 8,250) ( 16,100)
_______ _______
Net assets 216,888 231,082
_______ _______
Capital and reserves
Called up share capital 11 32 32
Capital redemption reserve 68 68
Profit and loss account 216,788 230,982
_______ _______
Shareholders funds 216,888 231,082
_______ _______
For the 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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:
Marcos Torres-Siddens
Director
Company registration number: 03631136
Lambs Restaurant (Stratford upon Avon) Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value, excluding value added tax, of takings during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 14 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal ateach reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity had an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amounth of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other debtors, trade creditors and other creditors.Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expenses in the period in which the related service is provided.
4. Employee numbers
Staff are employed by The Vintner (Stratford upon Avon) Limited a related company. The charge in the accounts amounts to recharges of wages, national insurance and pension costs during the year.
5. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 100,000 115,000
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 October 2023 and 30 September 2024 304,202 304,202
_______ _______
Amortisation
At 1 October 2023 and 30 September 2024 304,202 304,202
_______ _______
Carrying amount
At 30 September 2024 - -
_______ _______
At 30 September 2023 - -
_______ _______
7. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 October 2023 56,669 239,455 296,124
Additions - 9,130 9,130
_______ _______ _______
At 30 September 2024 56,669 248,585 305,254
_______ _______ _______
Depreciation
At 1 October 2023 56,669 202,202 258,871
Charge for the year - 6,957 6,957
_______ _______ _______
At 30 September 2024 56,669 209,159 265,828
_______ _______ _______
Carrying amount
At 30 September 2024 - 39,426 39,426
_______ _______ _______
At 30 September 2023 - 37,253 37,253
_______ _______ _______
8. Debtors
2024 2023
£ £
Other debtors 60,281 3,449
_______ _______
9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loan 10,000 10,000
Trade creditors 57,360 63,872
Corporation tax 25,350 38,700
Social security and other taxes 78,985 78,605
Other creditors 116,367 203,598
_______ _______
288,062 394,775
_______ _______
10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loan 7,285 16,666
_______ _______
11. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary A shares of £ 1.00 each 20 20 20 20
Ordinary B shares of £ 1.00 each 12 12 12 12
_______ _______ _______ _______
32 32 32 32
_______ _______ _______ _______
12. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Later than 1 year and not later than 5 years 141,678 191,682
_______ _______
13. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances to the directors Amounts repaid Balance carried forward
£ £ £ £
Marcos Torres-Siddens ( 23,880) 122,000 ( 50,000) 48,120
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance carried forward
£ £ £ £
Marcos Torres-Siddens 81,900 30,575 ( 136,355) ( 23,880)
_______ _______ _______ _______