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Registered Number: 10658139
England and Wales

 

 

 

FINESSE F & B LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Directors Janti Biyouk
Walid Hizaoui
Registered Number 10658139
Registered Office Farzi Cafe
8 Haymarket
London
SW1Y 4BP
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 4 14,013   
Tangible fixed assets 5 1,062,032    1,242,873 
1,076,045    1,242,873 
Current assets      
Stocks 6 24,007    28,037 
Debtors 7 605,292    95,845 
Cash at bank and in hand 1,428    4,435 
630,727    128,317 
Creditors: amount falling due within one year 8 (2,581,910)   (1,290,741)
Net current assets (1,951,183)   (1,162,424)
 
Total assets less current liabilities (875,138)   80,449 
Creditors: amount falling due after more than one year 9 (12,625)   (22,557)
Net assets (887,763)   57,892 
 

Capital and reserves
     
Called up share capital 10 1,750,010    1,750,010 
Profit and loss account (2,637,773)   (1,692,118)
Shareholders' funds (887,763)   57,892 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 17 March 2025 and were signed on its behalf by:


-------------------------------
Janti Biyouk
Director
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General Information
FINESSE F & B LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10658139, registration address Farzi Cafe, 8 Haymarket, London, SW1Y 4BP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold land and buildings 8% Straight Line
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 3 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 36 (2023 : 47).
3.

Operating lease commitments

At the reporting end date  the company had outstanding commitments for future minimum lease payments under non - cancellable operating leases as follows:     

2024                     2023
£                            £
2,380,000            2,720,000       
              

4.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 April 2023  
Additions 14,750    14,750 
Disposals  
At 31 March 2024 14,750    14,750 
Amortisation
At 01 April 2023  
Charge for year 737    737 
On disposals  
At 31 March 2024 737    737 
Net book values
At 31 March 2024 14,013    14,013 
At 31 March 2023  


5.

Tangible fixed assets

Cost or valuation Leasehold land and buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2023 2,163,517    116,991    8,140    2,288,648 
Additions   5,943      5,943 
Disposals      
At 31 March 2024 2,163,517    122,934    8,140    2,294,591 
Depreciation
At 01 April 2023 962,680    78,630    8,140    1,049,450 
Charge for year 173,081    10,028      183,109 
On disposals      
At 31 March 2024 1,135,761    88,658    8,140    1,232,559 
Net book values
Closing balance as at 31 March 2024 1,027,756    34,276      1,062,032 
Opening balance as at 01 April 2023 1,204,284    38,589      1,242,873 


6.

Stocks

2024
£
  2023
£
Stocks 24,007    28,037 
24,007    28,037 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 605,292    95,845 
605,292    95,845 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 571,277    388,545 
Bank Loans & Overdrafts 10,648    10,648 
Other taxation and social security 220,852    250,947 
Other Creditors 1,779,133    640,601 
2,581,910    1,290,741 

9.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 12,625    22,557 
12,625    22,557 

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1,750,010 Ordinary shares of £1.00 each 1,750,010    1,750,010 
1,750,010    1,750,010 

11.

Related party transactions

Included within trade creditors is a balance of £30,866  owed to The Clay Oven UK Limited, a company that is a minority shareholder and under control by a director who served  for part of the year .

Included  within trade creditors is a balance of £42,395 (2023- £42,395) owed to Denham Grove Hotel Limited, a company under control by a director who served for part of the year.

Included within other creditors is a balance of £12,493 (2023-£12,493) owed to Denham Grove Hotel Limited, a company under control by a director who served for part of the year

Included within other creditors is a balance of £1,522,412 (2023-£389,100) owed to Omni Star Investments, who is the majority shareholder.

During the year the company was charged £48,000 (2023- £48,000) as management charges by The Clay Oven UK Limited a company that is a minority shareholder and under control by a director who served for part of the year .


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