BrightAccountsProduction v1.0.0 v1.0.0 2023-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of a restaurant. 29 April 2025 0 0 07370884 2024-08-31 07370884 2023-08-31 07370884 2022-08-31 07370884 2023-09-01 2024-08-31 07370884 2022-09-01 2023-08-31 07370884 uk-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07370884 uk-curr:PoundSterling 2023-09-01 2024-08-31 07370884 uk-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07370884 uk-bus:FullAccounts 2023-09-01 2024-08-31 07370884 uk-core:ShareCapital 2024-08-31 07370884 uk-core:ShareCapital 2023-08-31 07370884 uk-core:RetainedEarningsAccumulatedLosses 2024-08-31 07370884 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 07370884 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-08-31 07370884 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 07370884 uk-bus:FRS102 2023-09-01 2024-08-31 07370884 uk-core:PlantMachinery 2023-09-01 2024-08-31 07370884 uk-core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 07370884 uk-core:MotorVehicles 2023-09-01 2024-08-31 07370884 uk-core:CurrentFinancialInstruments 2024-08-31 07370884 uk-core:CurrentFinancialInstruments 2023-08-31 07370884 uk-core:WithinOneYear 2024-08-31 07370884 uk-core:WithinOneYear 2023-08-31 07370884 uk-core:EmployeeBenefits 2023-08-31 07370884 uk-core:EmployeeBenefits 2023-09-01 2024-08-31 07370884 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-08-31 07370884 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-08-31 07370884 uk-core:OtherDeferredTax 2024-08-31 07370884 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-08-31 07370884 uk-core:EmployeeBenefits 2024-08-31 07370884 2023-09-01 2024-08-31 07370884 uk-bus:Director1 2023-09-01 2024-08-31 07370884 uk-bus:Director2 2023-09-01 2024-08-31 07370884 uk-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 07370884
 
 
Franks Restaurant and Mussel Bar Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 August 2024



Franks Restaurant and Mussel Bar Limited
Company Registration Number: 07370884
BALANCE SHEET
as at 31 August 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 6 22,850 26,651
───────── ─────────
 
Current Assets
Stocks 7 19,657 19,558
Debtors 8 38,490 59,105
Cash at bank and in hand 93,105 88,785
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151,252 167,448
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Creditors: amounts falling due within one year 10 (86,753) (89,024)
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Net Current Assets 64,499 78,424
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Total Assets less Current Liabilities 87,349 105,075
 
Provisions for liabilities 12 (5,067) (6,663)
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Net Assets 82,282 98,412
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 82,182 98,312
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Shareholders' Funds 82,282 98,412
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 29 April 2025 and signed on its behalf by
           
           
           
F G Pataky     FG Pataky
Director     Director
           



Franks Restaurant and Mussel Bar Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 August 2024

   
1. General Information
 
Franks Restaurant and Mussel Bar Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 07370884. The registered office of the company is 55-57 High Street, West Malling, Kent, ME19 6QH which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 August 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- The amount of revenue can be reliably measured;
- It is probable that future economic benefits will flow to the entity; and
- Specific criteria have been met for each of the company's activities.
 
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 25% reducing balance
  Fixtures, fittings and equipment - 25% reducing balance
  Motor vehicles - 25% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investments
Current asset investments are stated at the lower of cost and net realisable value.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash at bank and in hand
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Balance Sheet bank overdrafts are shown within Creditors.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Significant accounting judgements and key sources of estimation uncertainty
 
The company may be required to make estimates and assumptions concerning the future. These estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The resulting accounting estimates will, by definition, seldom equal the related actual results.
   
4. Critical Accounting Judgements and Estimates
 
The directors consider the accounting estimates and assumptions below to be its critical accounting judgements and estimates:
 
Recoverability of trade debtors
The directors annually assess whether a bad debt provision is required for any bad or doubtful debtor balances.
 
Tangible fixed assets
The directors annually assess both the residual value of these assets and the expected useful life of such assets based on experience.
       
5. Employees
 
The average monthly number of employees, including directors, during the financial year was 26, (2023 - 26).
           
6. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 September 2023 30,284 46,413 12,785 89,482
Additions 3,584 900 - 4,484
Disposals (2,398) - - (2,398)
  ───────── ───────── ───────── ─────────
At 31 August 2024 31,470 47,313 12,785 91,568
  ───────── ───────── ───────── ─────────
Depreciation
At 1 September 2023 21,973 33,123 7,735 62,831
Charge for the financial year 2,851 3,576 1,262 7,689
On disposals (1,802) - - (1,802)
  ───────── ───────── ───────── ─────────
At 31 August 2024 23,022 36,699 8,997 68,718
  ───────── ───────── ───────── ─────────
Net book value
At 31 August 2024 8,448 10,614 3,788 22,850
  ═════════ ═════════ ═════════ ═════════
At 31 August 2023 8,311 13,290 5,050 26,651
  ═════════ ═════════ ═════════ ═════════
       
7. Stocks 2024 2023
  £ £
 
Stock (non trading) 19,657 19,558
  ═════════ ═════════
       
8. Debtors 2024 2023
  £ £
 
Trade debtors 1,485 -
Directors' current accounts (Note 13) 25,705 49,912
Taxation  (Note 11) 7,762 7,762
Prepayments and accrued income 3,538 1,431
  ───────── ─────────
  38,490 59,105
  ═════════ ═════════
       
9. Investments 2024 2023
  £ £
 
Other unlisted investments 20,265 20,265
  ═════════ ═════════
       
10. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 15,746 15,831
Taxation  (Note 11) 53,398 60,831
Directors' current accounts 9,624 10,000
Accruals 7,985 2,362
  ───────── ─────────
  86,753 89,024
  ═════════ ═════════
       
11. Taxation 2024 2023
  £ £
 
Debtors:
Corporation tax 7,762 7,762
  ═════════ ═════════
Creditors:
VAT 29,234 30,134
Corporation tax 18,373 25,330
PAYE / NI 5,791 5,367
  ───────── ─────────
  53,398 60,831
  ═════════ ═════════
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 6,663 6,663 5,243
Charged to profit and loss (1,596) (1,596) 1,420
  ───────── ───────── ─────────
At financial year end 5,067 5,067 6,663
  ═════════ ═════════ ═════════
   
13. Directors' advances, credits and guarantees
 
During the previous financial year, the company made a loan to a director amounting to £50,000. £27,000 was repaid during the year ended 31 August 2024. Interest at the rate of 6.25% per annum is payable yearly and the loan is repayable on 31 August 2025.