IRIS Accounts Production v24.3.2.46 SC522378 Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5223782023-09-30SC5223782024-09-30SC5223782023-10-012024-09-30SC5223782022-09-30SC5223782022-10-012023-09-30SC5223782023-09-30SC522378ns15:Scotland2023-10-012024-09-30SC522378ns14:PoundSterling2023-10-012024-09-30SC522378ns10:Director12023-10-012024-09-30SC522378ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC522378ns10:SmallEntities2023-10-012024-09-30SC522378ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-30SC522378ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-30SC522378ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC522378ns10:FullAccounts2023-10-012024-09-30SC522378ns10:Director22023-10-012024-09-30SC522378ns10:Director32023-10-012024-09-30SC522378ns10:Director42023-10-012024-09-30SC522378ns10:CompanySecretary12023-10-012024-09-30SC522378ns10:RegisteredOffice2023-10-012024-09-30SC522378ns5:CurrentFinancialInstruments2024-09-30SC522378ns5:CurrentFinancialInstruments2023-09-30SC522378ns5:Non-currentFinancialInstruments2024-09-30SC522378ns5:Non-currentFinancialInstruments2023-09-30SC522378ns5:ShareCapital2024-09-30SC522378ns5:ShareCapital2023-09-30SC522378ns5:RetainedEarningsAccumulatedLosses2024-09-30SC522378ns5:RetainedEarningsAccumulatedLosses2023-09-30SC52237812023-10-012024-09-30SC522378ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-10-012024-09-30SC522378ns5:FurnitureFittings2023-10-012024-09-30SC522378ns5:ComputerEquipment2023-10-012024-09-30SC522378ns5:LandBuildings2023-09-30SC522378ns5:FurnitureFittings2023-09-30SC522378ns5:ComputerEquipment2023-09-30SC522378ns5:LandBuildings2023-10-012024-09-30SC522378ns5:LandBuildings2024-09-30SC522378ns5:FurnitureFittings2024-09-30SC522378ns5:ComputerEquipment2024-09-30SC522378ns5:LandBuildings2023-09-30SC522378ns5:FurnitureFittings2023-09-30SC522378ns5:ComputerEquipment2023-09-30SC522378ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30SC522378ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30SC522378ns5:DeferredTaxation2023-09-30SC522378ns5:DeferredTaxation2023-10-012024-09-30SC522378ns5:DeferredTaxation2024-09-30
REGISTERED NUMBER: SC522378 (Scotland)












Financial Statements

for the Year Ended 30 September 2024

for

Grillphace Limited
Trading as
Loks Bar and Kitchen

Grillphace Limited (Registered number: SC522378)
Trading as Loks Bar and Kitchen






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Grillphace Limited
Trading as Loks Bar and Kitchen

Company Information
for the Year Ended 30 September 2024







DIRECTORS: P A Reilly
Mrs M E Reilly
M A Reilly
Mrs G Reilly





SECRETARY: Mrs M E Reilly





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC522378 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Grillphace Limited (Registered number: SC522378)
Trading as Loks Bar and Kitchen

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 735,801 772,144

CURRENT ASSETS
Stocks 4 13,452 15,956
Debtors 5 39,416 30,490
Cash at bank and in hand 152,048 145,433
204,916 191,879
CREDITORS
Amounts falling due within one year 6 135,305 131,935
NET CURRENT ASSETS 69,611 59,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

805,412

832,088

CREDITORS
Amounts falling due after more than one year 7 (10,833 ) (20,833 )

PROVISIONS FOR LIABILITIES 8 (9,677 ) (8,874 )
NET ASSETS 784,902 802,381

CAPITAL AND RESERVES
Called up share capital 410 410
Retained earnings 784,492 801,971
SHAREHOLDERS' FUNDS 784,902 802,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Grillphace Limited (Registered number: SC522378)
Trading as Loks Bar and Kitchen

Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by:





P A Reilly - Director


Grillphace Limited (Registered number: SC522378)
Trading as Loks Bar and Kitchen

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

Revenue
Revenue represents the amounts derived from the sale of goods from a restaurant, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Inventories
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.

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 year 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.

Grillphace Limited (Registered number: SC522378)
Trading as Loks Bar and Kitchen

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

1. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 25 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 October 2023 501,673 708,273 708 1,210,654
Additions - 8,408 - 8,408
At 30 September 2024 501,673 716,681 708 1,219,062
DEPRECIATION
At 1 October 2023 70,234 367,568 708 438,510
Charge for year 10,034 34,717 - 44,751
At 30 September 2024 80,268 402,285 708 483,261
NET BOOK VALUE
At 30 September 2024 421,405 314,396 - 735,801
At 30 September 2023 431,439 340,705 - 772,144

4. STOCKS
2024 2023
£    £   
Stocks 13,452 15,956

Grillphace Limited (Registered number: SC522378)
Trading as Loks Bar and Kitchen

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 39,416 30,490

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 37,104 27,883
Taxation and social security 54,137 57,757
Other creditors 34,064 36,295
135,305 131,935

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,833 20,833

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,677 8,874

Deferred
tax
£   
Balance at 1 October 2023 8,874
Provided during year 803
Movement
Balance at 30 September 2024 9,677