Company registration number 06670049 (England and Wales)
SALLY CLARKE RESTAURANT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
SALLY CLARKE RESTAURANT LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
SALLY CLARKE RESTAURANT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,285
17,250
Current assets
Stocks
54,373
54,310
Debtors
5
2,255,108
2,064,803
Cash at bank and in hand
479
1,134
2,309,960
2,120,247
Creditors: amounts falling due within one year
6
(1,098,791)
(1,185,872)
Net current assets
1,211,169
934,375
Total assets less current liabilities
1,220,454
951,625
Creditors: amounts falling due after more than one year
7
(34,960)
(42,192)
Net assets
1,185,494
909,433
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,185,493
909,432
Total equity
1,185,494
909,433

The director of the company has elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 21 May 2025
Ms SV Clarke
Director
Company Registration No. 06670049
SALLY CLARKE RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

Sally Clarke Restaurant Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Regis House, 45 King William Street, London, United Kingdom, EC4R 9AN.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus the director

continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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 value

added tax, rebates and discounts.

1.4
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:

Fixtures and fittings
4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost are

determined using the first-in first-out (FlFO) method.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SALLY CLARKE RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Retirement benefits

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and

the company has no legal or constructive obligation to pay further contributions even if the fund does not hold

sufficient assets to pay all employees the benefits relating to employee service in the current and prior

periods.

 

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If

contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

SALLY CLARKE RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
2
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
9,663
8,000
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
20
19
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
56,985
Disposals
(25,111)
At 31 August 2024
31,874
Depreciation and impairment
At 1 September 2023
39,735
Depreciation charged in the year
7,965
Eliminated in respect of disposals
(25,111)
At 31 August 2024
22,589
Carrying amount
At 31 August 2024
9,285
At 31 August 2023
17,250
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,213,810
2,035,513
Other debtors
41,298
29,290
2,255,108
2,064,803
SALLY CLARKE RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
7,232
7,233
Trade creditors
95,088
100,241
Amounts owed to group undertakings
848,865
962,893
Taxation and social security
104,267
75,729
Other creditors
32,573
30,308
Accruals and deferred income
10,766
9,468
1,098,791
1,185,872
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
34,960
42,192
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
John Howard
Statutory Auditor:
Azets Audit Services
SALLY CLARKE RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
9
Related party transactions
Transactions with related parties

During the financial year the company, which is a wholly owned subsidiary of Lydling Properties (Kensington) Limited (formerly Sally Clarke Limited), entered into the following transactions with the parent and other group companies.

 

Transactions entered into during the period are as follows:

Name of related party
Income
Payments
transaction
2024
2023
2024
2023
£
£
£
£
Lydling Properties (Kensington) Limted (Formerly Sally Clarke Limited)
-
0
-
0
120,000
120,000
Notting Hill Bakery Limited
-
-
0
7,594
5,920
Sally Clarke Retail limited
40,767
-
0
4,276
2,584
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
Lydling Holdings Limited
2,213,810
2,035,513
Lydling Properties (Kensington) Limited (formerly Sally Clarke Limited)
848,865
962,893
10
Parent company

The company's immediate parent is Lydling Properties (Kensington) Limited (formerly Sally Clarke Limited), incorporated in England and Wales.

The ultimate controlling party is Samuel Morton Morris.

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