IMMANUELS RESTAURANT LTD - Accounts to registrar (filleted)

REGISTERED NUMBER: SC562917 (Scotland)

Unaudited Financial Statements For The Year Ended 30 April 2024

for

IMMANUELS RESTAURANT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I B Fernando

REGISTERED OFFICE:

16 St Joseph Place

Glasgow

G21 2LD

REGISTERED NUMBER:

SC562917 (Scotland)

ACCOUNTANTS:

Ahmad & Nabi Mcmullan

95-107 Lancefield Street

Glasgow

Lanarkshire

G3 8HZ

FIXED ASSETS

Intangible assets

4

40,000

Tangible assets

5

38,432

48,040

78,432

88,040

CURRENT ASSETS

Stocks

1,179

1,207

Debtors

6

65,000

Cash at bank and in hand

7

61,177

29,074

127,356

95,281

CREDITORS

Amounts falling due within one year

8

135,650

102,025

NET CURRENT LIABILITIES

(8,294

)

(6,744

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

70,138

81,296

CREDITORS

Amounts falling due after more than one
year

9

40,967

54,444

NET ASSETS

29,171

26,852

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

29,071

26,752

SHAREHOLDERS' FUNDS

29,171

26,852

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

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

The director acknowledges his 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.

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 director and authorised for issue on 15 April 2025 and were signed by:

I B Fernando - Director

1.	STATUTORY INFORMATION

IMMANUELS RESTAURANT LTD is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Stocks

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2023

and 30 April 2024

40,000

NET BOOK VALUE

At 30 April 2024

40,000

At 30 April 2023

40,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2023

and 30 April 2024

69,725

DEPRECIATION

At 1 May 2023

21,685

Charge for year

9,608

At 30 April 2024

31,293

NET BOOK VALUE

At 30 April 2024

38,432

At 30 April 2023

48,040

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.24

30.4.23

£

Immanuel Restaurant 2 Ltd

65,000

7.	CASH AT BANK AND IN HAND

30.4.24

30.4.23

£

Bank account no. 1

2,963

1,444

Cash in hand

58,214

27,630

61,177

29,074

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.24

30.4.23

£

Bank loans and overdrafts

9,550

Trade creditors

1,746

1,873

Tax

22,834

20,271

PAYE

1,419

706

VAT

610

2,131

Directors' loan accounts

83,723

61,757

Accrued expenses

15,768

5,737

135,650

102,025

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.4.24

30.4.23

£

Bank loans - 2-5 years

17,016

27,397

Bounce back loan

23,951

27,047

40,967

54,444