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Registered number: 14136219
NFH Restaurants Ltd
Financial Statements
For The Year Ended 31 May 2024
Fairman Harris
1 Landor Road
London
SW9 9RX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14136219
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 111,333 119,333
Tangible Assets 5 5,828,148 204,419
5,939,481 323,752
CURRENT ASSETS
Stocks 6 21,969 2,850
Debtors 7 103,434 25,475
Cash at bank and in hand 79,366 2,360
204,769 30,685
Creditors: Amounts Falling Due Within One Year 8 (1,069,947 ) (172,784 )
NET CURRENT ASSETS (LIABILITIES) (865,178 ) (142,099 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,074,303 181,653
Creditors: Amounts Falling Due After More Than One Year 9 (6,071,117 ) (225,613 )
NET LIABILITIES (996,814 ) (43,960 )
CAPITAL AND RESERVES
Called up share capital 10 477 250
Share premium account 285,664 150,000
Profit and Loss Account (1,282,955 ) (194,210 )
SHAREHOLDERS' FUNDS (996,814) (43,960)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr F R Jamal
Director
14 May 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
NFH Restaurants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14136219 . The registered office is Suite 533, Tuition House, Wimbledon, SW19 4EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Development Fee. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold N/A
Leasehold 25% Reducing Balance
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Operating lease
1. Recognition and Measurement
The Company recognizes a right-of-use asset and a corresponding lease liability at the lease commencement date, except for short-term and low-value leases.
Right-of-Use Assets
Right-of-use assets are initially measured at cost, which includes:
The initial amount of lease liability recognized.
Any lease payments made before the commencement date.
Any initial direct costs incurred.
An estimate of dismantling or restoration costs (if applicable).
Subsequently, right-of-use assets are measured using the cost model, where they are depreciated on a straight-line basis over the shorter of the lease term or the asset's useful life.
Lease Liabilities
...CONTINUED
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2.6. Operating lease - continued
Lease liabilities are initially measured at the present value of future lease payments, discounted using the incremental borrowing rate (IBR) if the implicit rate in the lease is not readily determinable. Subsequent measurement includes:
Interest expense recognized using the effective interest method.
Lease payments reducing the liability.
Remeasurement due to lease modifications or changes in estimates (e.g., extension options, residual value guarantees).
2. Exemptions – Short-Term and Low-Value Leases
The Company applies the following practical expedients:
Short-term leases (lease term ≤ 12 months) and low-value asset leases (e.g., laptops, office furniture) are not recognized as right-of-use assets or lease liabilities.
Instead, lease payments for these leases are recognized as an expense on a straight-line basis in the income statement over the lease term.
3. Lease Modifications
If there is a modification to an existing lease (e.g., change in lease term, revised lease payments), the lease liability and right-of-use asset are remeasured accordingly. If the modification is a separate lease, it is accounted for as a new lease.
4. Presentation & Disclosure
Right-of-use assets are presented separately in the statement of financial position or included within the appropriate asset class (e.g., property, plant, and equipment).
Lease liabilities are presented separately or within borrowings/financial liabilities.
Depreciation on right-of-use assets is recorded in the income statement under operating expenses.
Interest expense on lease liabilities is presented under finance costs.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 83 (2023: 3)
83 3
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 120,000
As at 31 May 2024 120,000
Amortisation
As at 1 June 2023 667
Provided during the period 8,000
As at 31 May 2024 8,667
Net Book Value
As at 31 May 2024 111,333
As at 1 June 2023 119,333
Page 4
Page 5
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 195,520 - 13,260 - 208,780
Additions 750,736 5,293,027 161,012 57,766 6,262,541
Disposals (111,035 ) - - - (111,035 )
As at 31 May 2024 835,221 5,293,027 174,272 57,766 6,360,286
Depreciation
As at 1 June 2023 1,046 - 3,315 - 4,361
Provided during the period 174,429 296,168 42,739 14,441 527,777
As at 31 May 2024 175,475 296,168 46,054 14,441 532,138
Net Book Value
As at 31 May 2024 659,746 4,996,859 128,218 43,325 5,828,148
As at 1 June 2023 194,474 - 9,945 - 204,419
6. Stocks
31 May 2024 31 May 2023
£ £
Stock 21,969 2,850
7. Debtors
31 May 2024 31 May 2023
£ £
Due within one year
Trade debtors 47,996 -
Other debtors 55,438 25,475
103,434 25,475
8. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Trade creditors 471,996 160,870
Other taxes and social security 29,116 -
VAT 104,091 -
Net wages 97,865 4,707
Other creditors 11,153 -
Short term leases 351,295 -
Accruals and deferred income 4,431 7,207
1,069,947 172,784
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9. Creditors: Amounts Falling Due After More Than One Year
31 May 2024 31 May 2023
£ £
Lease liability due after more than 12 months 4,876,203 -
Shareholder loan 95,091 -
Amounts owed to associates 1,099,823 225,613
6,071,117 225,613
10. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 477 250
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 May 2024 31 May 2023
£ £
Not later than one year 351,295 -
Later than one year and not later than five years 1,938,191 -
Later than five years 2,938,010 -
5,227,496 -
12. Related Party Transactions
Jrk Restaurants Ltd - a company with a common director - Intercompany balance: CR £268,801 (2023: £225,613)
Jrk Uk Properties Ltd - a company with a common director - Intercompany balance: Cr £235,720 (2023 £ Nil)
Level 1 Developments Ltd - a company with a common director - Intercompany balance: Cr £595,302 (2023: £ Nil)
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