Company registration number 11158425 (England and Wales)
COUNTER RESTAURANTS WILLIAM IV LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
COUNTER RESTAURANTS WILLIAM IV LIMITED
CONTENTS
Page
Profit and loss account
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
COUNTER RESTAURANTS WILLIAM IV LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -
2025
2024
£
£
Turnover
3,173,491
3,041,287
Cost of sales
(721,326)
(677,083)
Gross profit
2,452,165
2,364,204
Administrative expenses
(2,267,989)
(1,918,362)
Operating profit
184,176
445,842
Interest payable and similar expenses
(6,414)
(10,944)
Profit before taxation
177,762
434,898
Tax on profit
-
0
-
0
Profit for the financial year
177,762
434,898
COUNTER RESTAURANTS WILLIAM IV LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
491,889
409,461
Current assets
Stocks
16,967
18,377
Debtors
4
123,702
13,784
Cash at bank and in hand
164,424
181,576
305,093
213,737
Creditors: amounts falling due within one year
5
(971,462)
(895,440)
Net current liabilities
(666,369)
(681,703)
Total assets less current liabilities
(174,480)
(272,242)
Creditors: amounts falling due after more than one year
6
(16,667)
(96,667)
Net liabilities
(191,147)
(368,909)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(191,148)
(368,910)
Total equity
(191,147)
(368,909)

For the financial year ended 31 January 2025 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 of its financial statements for the year in question in accordance with section 476.

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.

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 by the board of directors and authorised for issue on 14 May 2025 and are signed on its behalf by:
Mr William J Ellner
Director
Company registration number 11158425 (England and Wales)
COUNTER RESTAURANTS WILLIAM IV LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 February 2023
1
(803,808)
(803,807)
Year ended 31 January 2024:
Profit for the year
-
434,898
434,898
Balance at 31 January 2024
1
(368,910)
(368,909)
Year ended 31 January 2025:
Profit for the year
-
177,762
177,762
Balance at 31 January 2025
1
(191,148)
(191,147)
COUNTER RESTAURANTS WILLIAM IV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
1
Accounting policies
Company information

Counter Restaurants William IV Limited is a private company limited by shares incorporated in England and Wales. The registered office is 39 William IV Street, London, WC2N 4DD.

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 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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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:

Long leasehold property
Straight-line over the life of the lease
Plant and machinery
Straight-line over 10 years
Fixtures and fittings
Straight-line over 10 years
Equipment
67% 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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

COUNTER RESTAURANTS WILLIAM IV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and conditions.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.8
Financial instruments

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

 

Financial instruments are recognised in the company's balance sheet 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 loan and loans from fellow group companies, 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.

1.9
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.

COUNTER RESTAURANTS WILLIAM IV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 6 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
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.

2
Employees

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

2025
2024
Number
Number
Total
43
43
3
Tangible fixed assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 February 2024
465,205
27,397
113,652
5,097
611,351
Additions
-
0
32,644
105,295
1,040
138,979
Disposals
-
0
-
0
(7,497)
-
0
(7,497)
At 31 January 2025
465,205
60,041
211,450
6,137
742,833
Depreciation and impairment
At 1 February 2024
169,032
4,952
24,465
3,441
201,890
Depreciation charged in the year
31,014
3,959
15,832
1,959
52,764
Eliminated in respect of disposals
-
0
-
0
(3,710)
-
0
(3,710)
At 31 January 2025
200,046
8,911
36,587
5,400
250,944
Carrying amount
At 31 January 2025
265,159
51,130
174,863
737
491,889
At 31 January 2024
296,173
22,445
89,187
1,656
409,461
COUNTER RESTAURANTS WILLIAM IV LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
82,606
-
0
Other debtors
41,096
13,784
123,702
13,784
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loan
40,000
-
0
Trade creditors
146,645
305,990
Amounts owed to group undertakings
489,699
223,868
Taxation and social security
96,864
107,531
Other creditors
198,254
258,051
971,462
895,440

The bank loan is a Coronavirus Business Interruption Loan (CBIL) that is 100% backed by the government. The amount is repayable by monthly instalments of £3,333.33 within 17 months.

6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loan
16,667
96,667

The bank loan is a Coronavirus Business Interruption Loan (CBIL) that is 100% backed by the government. The amount is repayable by monthly instalments of £3,333.33 within 17 months.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
8
Operating lease commitments
As lessee
COUNTER RESTAURANTS WILLIAM IV LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
8
Operating lease commitments
(Continued)
- 8 -

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
1,592,500
1,787,500

The lease includes rent review clauses, the effect of which cannot be reliably estimated at the reporting date. Accordingly, future lease commitments reflect the current contractual rent of £195,000 per annum.

 

9
Related party transactions

At the balance sheet date, £64,075 owed by Counter Restaurants Borough Yards Ltd, a connected company by virtue of common control and ownership.

 

At the balance sheet date, £18,531 owed by Counter Restaurants Wrights Lane Ltd, a connected company by virtue of common control and ownership.

 

At the balance sheet date, £131,913 owed to Counter Restaurants Lower James Ltd, a connected company by virtue of common control and ownership.

 

At the balance sheet date, £357,786 owed to Counter Restaurants Limited, a parent company.

10
Parent company

The ultimate parent company is Counter Restaurants Ltd, a company incorporated in the United Kingdom.

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