Registered number
10818067
Chapter One Restaurant Limited
Filleted Accounts
31 July 2024
Chapter One Restaurant Limited
Registered number: 10818067
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 415,929 492,129
Current assets
Stocks 47,954 50,385
Debtors 4 21,595 10,174
Cash at bank and in hand 386,010 531,360
455,559 591,919
Creditors: amounts falling due within one year 5 (452,468) (448,493)
Net current assets 3,091 143,426
Total assets less current liabilities 419,020 635,555
Creditors: amounts falling due after more than one year 6 (10,661) (120,620)
Provisions for liabilities (77,404) (91,526)
Net assets 330,955 423,409
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 329,955 422,409
Shareholders' funds 330,955 423,409
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Faulstich
Director
Approved by the board on 10 March 2025
Chapter One Restaurant Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 42 40
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 808,197
At 31 July 2024 808,197
Depreciation
At 1 August 2023 316,068
Charge for the year 76,200
At 31 July 2024 392,268
Net book value
At 31 July 2024 415,929
At 31 July 2023 492,129
4 Debtors 2024 2023
£ £
Trade debtors 614 191
Other debtors 20,981 9,983
21,595 10,174
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 229,167 214,802
Amounts owed to group undertakings and undertakings in which the company has a participating interest 84,319 78,319
Taxation and social security costs 98,964 106,461
Other creditors 30,018 38,911
452,468 448,493
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,661 20,620
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 100,000
10,661 120,620
7 Controlling party
The company is under the control of Simply Chapters Limited, a company registered in England, who owns 99.6% of the issued share capital.
8 Other information
Chapter One Restaurant Limited is a private company limited by shares and incorporated in England. Its registered office is: Unit 9, Hill Farm, Ford End.
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