Company registration number SC446094 (Scotland)
KA PAO GLASGOW LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
KA PAO GLASGOW LTD
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 7
KA PAO GLASGOW LTD
COMPANY INFORMATION
- 1 -
Directors
Mr P C Kane
Mr J MacDonald
Company number
SC446094
Registered office
26 Vinicombe Street
c/o Ka Pao
Botanic Gardens Garage
Glasgow
Lanarkshire
Scotland
G12 8BE
Accountants
Consilium Chartered Accountants
169 West George Street
Glasgow
Scotland
G2 2LB
KA PAO GLASGOW LTD
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,583
211,527
Current assets
Stocks
15,893
12,951
Debtors
4
1,229,937
443,931
Cash at bank and in hand
119,938
952,966
1,365,768
1,409,848
Creditors: amounts falling due within one year
5
(513,937)
(709,021)
Net current assets
851,831
700,827
Net assets
875,414
912,354
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
875,413
912,353
Total equity
875,414
912,354

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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 10 July 2025 and are signed on its behalf by:
Mr P C Kane
Director
Company Registration No. SC446094
KA PAO GLASGOW LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Ka Pao Glasgow Ltd is a private company limited by shares incorporated in Scotland. The registered office is 26 Vinicombe Street, c/o Ka Pao, Botanic Gardens Garage, Glasgow, Lanarkshire, Scotland, G12 8BE. The company's registration number is SC446094.

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
Turnover

The turnover shown in the profit and loss account represents the value of all goods sold during the year at a selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.

1.3
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:

Leasehold improvements
5 years straight line.
Fixtures and fittings
2 years/5 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 the profit and loss account.

1.4
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.

1.5
Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stock. Stock consists of food, raw materials and drinks which are valued on a first-in, first-out basis.

 

KA PAO GLASGOW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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.

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 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.

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
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

KA PAO GLASGOW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
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.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

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

2024
2023
Total
-
0
-
0
KA PAO GLASGOW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024
190,097
887,772
1,077,869
Additions
-
0
3,320
3,320
At 31 December 2024
190,097
891,092
1,081,189
Depreciation and impairment
At 1 January 2024
150,847
715,495
866,342
Depreciation charged in the year
38,019
153,245
191,264
At 31 December 2024
188,866
868,740
1,057,606
Carrying amount
At 31 December 2024
1,231
22,352
23,583
At 31 December 2023
39,250
172,277
211,527
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
16,489
5,400
Amounts owed by group undertakings
205,805
398,599
Other debtors
1,007,643
39,932
1,229,937
443,931
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
118,063
110,612
Taxation and social security
172,320
200,057
Other creditors
223,554
398,352
513,937
709,021

A floating charge which contains a negative pledge is secured over the assets of the company.

KA PAO GLASGOW LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
6
Operating lease commitments

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

2024
2023
£
£
1,400,000
1,470,000
7
Deferred taxation

The following are the major deferred tax liabilities recognised by the company and movements thereon:

Balances:
There were no deferred tax movements in the year.
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of 1p
1
1
9
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 

The company operated loan accounts during the year with companies under common control. At the balance sheet date the total amount owed by the company was £4,112 (2023 - £103,467). The loans are unsecured, interest free and have no fixed repayment terms.

 

The company operated loan accounts during the year with companies under common control. At the balance sheet date the total amount owed to the company was £973,262 (2023 - £17,848). The loans are unsecured, interest free and have no fixed repayment terms.

 

No other transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

2024-12-312024-01-01falsefalsefalse10 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr P C KaneMr J MacDonaldSC4460942024-01-012024-12-31SC446094bus:Director12024-01-012024-12-31SC446094bus:Director22024-01-012024-12-31SC446094bus:RegisteredOffice2024-01-012024-12-31SC4460942024-12-31SC4460942023-12-31SC446094core:LeaseholdImprovements2024-12-31SC446094core:FurnitureFittings2024-12-31SC446094core:LeaseholdImprovements2023-12-31SC446094core:FurnitureFittings2023-12-31SC446094core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-31SC446094core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-31SC446094core:CurrentFinancialInstruments2024-12-31SC446094core:CurrentFinancialInstruments2023-12-31SC446094core:ShareCapital2024-12-31SC446094core:ShareCapital2023-12-31SC446094core:RetainedEarningsAccumulatedLosses2024-12-31SC446094core:RetainedEarningsAccumulatedLosses2023-12-31SC446094core:ShareCapitalOrdinaryShareClass12024-12-31SC446094core:ShareCapitalOrdinaryShareClass12023-12-31SC446094core:LeaseholdImprovements2024-01-012024-12-31SC446094core:FurnitureFittings2024-01-012024-12-31SC4460942023-01-012023-12-31SC446094core:LeaseholdImprovements2023-12-31SC446094core:FurnitureFittings2023-12-31SC4460942023-12-31SC446094core:WithinOneYear2024-12-31SC446094core:WithinOneYear2023-12-31SC446094bus:PrivateLimitedCompanyLtd2024-01-012024-12-31SC446094bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-31SC446094bus:FRS1022024-01-012024-12-31SC446094bus:AuditExemptWithAccountantsReport2024-01-012024-12-31SC446094bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP