Company registration number 07783993 (England and Wales)
THE SWAN BRASSERIE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
THE SWAN BRASSERIE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
THE SWAN BRASSERIE LIMITED (REGISTERED NUMBER: 07783993)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
200,942
266,614
Current assets
Stocks
54,886
58,235
Debtors
5
1,245,537
1,466,045
Cash at bank and in hand
314,805
171,997
1,615,228
1,696,277
Creditors: amounts falling due within one year
6
(864,039)
(945,636)
Net current assets
751,189
750,641
Total assets less current liabilities
952,131
1,017,255
Creditors: amounts falling due after more than one year
7
(219,913)
(207,667)
Provisions for liabilities
(47,232)
(62,990)
Net assets
684,986
746,598
Capital and reserves
Called up share capital
8
7,000
7,000
Capital redemption reserve
3,000
3,000
Profit and loss reserves
674,986
736,598
Total equity
684,986
746,598
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THE SWAN BRASSERIE LIMITED (REGISTERED NUMBER: 07783993)
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 May 2025 and are signed on its behalf by:
E Collaku
Director
THE SWAN BRASSERIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
The Swan Brasserie Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents sales of food and beverages, excluding value added tax.
Revenue from the sale of food and beverages is recognised at the date the supply of food and beverage and service is provided to the customer.
1.4
Intangible fixed assets - goodwill
Goodwill being the amount paid in connection with the acquisition of a business in 2011, has been fully amortised.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Over the term of the lease
Fixtures, fittings & equipment
Over 3 to 15 years straight line
Motor vehicles
Over 5 years straight line
THE SWAN BRASSERIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Retirement benefits
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
THE SWAN BRASSERIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Depreciation is provided for over the periods and at the rates detailed above under note 1.5.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
78
82
4
Tangible fixed assets
Leasehold improvements
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
184,111
968,993
29,000
1,182,104
Additions
72,299
72,299
At 31 December 2024
184,111
1,041,292
29,000
1,254,403
Depreciation and impairment
At 1 January 2024
127,537
774,772
13,181
915,490
Depreciation charged in the year
10,348
122,643
4,980
137,971
At 31 December 2024
137,885
897,415
18,161
1,053,461
Carrying amount
At 31 December 2024
46,226
143,877
10,839
200,942
At 31 December 2023
56,574
194,221
15,819
266,614
THE SWAN BRASSERIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
28,696
60,341
Other debtors
1,216,841
1,405,704
1,245,537
1,466,045
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
110,966
89,000
Trade creditors
175,459
195,072
Taxation and social security
200,481
325,832
Other creditors
377,133
335,732
864,039
945,636
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
219,913
207,667
Bank loans are secured by way of fixed and floating charges over the company's assets.
THE SWAN BRASSERIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2,500 Ordinary A shares of £1 each
2,500
2,500
3,500 Ordinary B shares of £1 each
3,500
3,500
1,000 Ordinary C shares of £1 each
1,000
1,000
7,000
7,000
All classes of share rank pari passu in all respects.
9
Financial commitments, guarantees and contingent liabilities
During the year, the company entered into a cross guarantee arrangement with companies under common control.
Security is held by way of fixed and floating charges over the company's assets.
At 31 December 2024, the loan in the related company that is guaranteed by this company amounts to £687,821.
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
1,879,249
1,692,493
11
Related party transactions
Included in other debtors is a balance of £1,205,751 (2023: £1,392,407) owed by companies under common control.
THE SWAN BRASSERIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
12
Directors' transactions
Included within other creditors is an amount of £125,050 (2023: £100,000) owed to a director of the company.
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