Company registration number 09887614 (England and Wales)
COMPTOIR RESTAURANTS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
COMPTOIR RESTAURANTS LIMITED
COMPANY INFORMATION
Directors
A Kitous
C Hanna
(Appointed 14 April 2025)
Secretary
J Fisher
Company number
09887614
Registered office
6th Floor
Winchester House
259-269 Old Marylebone Road
London
NW1 5RA
Auditor
UHY Hacker Young
Quadrant House
4 Thomas More Square
London
E1W 1YW
COMPTOIR RESTAURANTS LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Notes to the financial statements
12 - 26
COMPTOIR RESTAURANTS LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 1 -

The directors present the strategic report for the period ended 29 December 2024.

Business Model

The company’s principal brand is Comptoir Libanais, a Lebanese and Middle Eastern focused casual dining brand. The restaurants offer an all-day dining experience based around healthy and fresh food in a friendly, colourful and vibrant environment, which delivers value for money to a broad demographic of guests. Lebanese and Eastern Mediterranean food is a popular food trend due to its flavoursome, healthy, low fat and vegetarian-friendly ingredients as well as the ability to easily share the food with friends.

We seek to design each Comptoir Libanais restaurant with a bold and fresh design that is welcoming to all age groups and types of consumers. Each Comptoir Libanais restaurant has posters and menus showing an artist’s impression of Sirine Jamal al Dine, an iconic Arabian actress, providing a Middle Eastern café-culture feel.

Strategy for growth and future developments

Given the recent Directorship changes, a detailed review of the company’s overall strategy is currently under review. Whilst this process is still ongoing, it is clear that providing a genuine value for money offering is pivotal for the company moving into 2025.

 

We are not shying away from the challenges that face the industry, particularly around cost pressures in procurement and labour. The new Board considers a prudent approach to capital management is key over the next twelve months to further strengthen the company’s cash position and position it for growth beyond 2025. As a result of the challenging backdrop facing the company and industry, the management team are increasingly focused on operational efficiency improvements, striving to challenge existing business processes to position the company for success in what is a difficult period for hospitality across the UK.

 

Whilst the strategic direction of the new Board is still being shaped, the goal of the company remains the same, offering a genuine value for money, pleasant unique offering to our customers.

Review of business and key performance indicators (KPI)

The continuing macro-economic pressures, high inflation and cost of living impacts outlined below continue to have a dampening impact on the hospitality sector as a whole. Despite these, the company delivered a full year profit of £1,585,576 (31 December 2023: £682,582).

Overall company revenue improved 15.7% to £27.2m (31 December 2023: £23.5m) through a combination of the LFL growth mentioned above and addition of new sites in Southbank and Cheshire Oaks.

The Board and management team use a range of performance indicators to monitor and measure the performance of the business. However, in common with most businesses, the critical KPI’s are focused on growth in sales and EBITDA, and these are appraised against budget, forecast and the levels achieved last year.

Principal risks and uncertainties

The Board has overall responsibility for identifying the most significant risks faced by the business and for developing appropriate policies to ensure that those risks are adequately managed. The following have been identified as the most significant risks faced by the company, however, it should be noted that this is not an exhaustive list and the company has policies and procedures to address other risks facing the business.

 

Consumer demand

Any weakness in consumer confidence could have an adverse effect on footfall and customer spend in our restaurants. As mentioned above, the current macro-economic conditions continue to place strain on consumers disposable income. These macroeconomic factors such as employment levels, interest rates and inflation can impact disposable income and consumer confidence can dictate their willingness to spend.

 

The management team’s focus continues to be offering a genuine value for money, pleasant unique offering to our customers. A strong focus on superior and attentive service together with value-added marketing initiatives can help to drive sales when customer footfall is more subdued. This, together with the strategic location of each of our restaurants, helps to mitigate the risk of consumer demand to the business.

COMPTOIR RESTAURANTS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 2 -

Input cost inflation

Inflationary pressures continue to have an impact on the company’s cost of sales, packaging and other raw input costs. The company has engaged Equinoxe Solutions to provide procurement support, and we are currently in the process of a review of our current supply chain to identify any opportunities in what are challenging and volatile market conditions for fresh produce suppliers.

 

Macro-economic conditions

Prevailing market conditions, including cost of living rises & economic uncertainty, and their impact on guest confidence to spend have an impact on the company in terms of footfall and sales. Although trading was impacted over this period, the company’s underlying trading remained positive, and management has continued with selective investment to continually be able to embrace market growth. Continued focus on customer relations through targeted and adaptable marketing initiatives help the company retain and drive sales where footfall declines.

 

Labour cost inflation

The recent increases in National Minimum Wage combined with the lowering of the Employer’s National Insurance threshold place significant pressure on business margins. The management team is proactively engaged in driving efficiency in our labour deployment without compromise on service delivery, and we believe we are well positioned to navigate through these statutory changes.

 

Strategy and execution

The Board recognises the importance of establishing a clear and ambitious long-term strategy for the company. With a new Board of Directors in place, a comprehensive strategic review is currently underway, focusing on growth priorities, operational performance, and long-term value creation. The outcome of this review will inform a refreshed strategic direction, which the Board intends to communicate to shareholders and stakeholders later in the year.

By order of the board

J Fisher
Secretary
22 July 2025
COMPTOIR RESTAURANTS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 3 -

The directors present their report and financial statements for the period ended 29 December 2024.

Principal activities

The principal activity of the company continued to be that of restaurateurs.

Results and dividends

The results for the period are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

A Kitous
C Hanna
(Appointed 14 April 2025)
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

 

There is also an employee share scheme as a means of further encourage the involvement of employees in the company's performance.

Auditor

UHY Hacker Young were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

COMPTOIR RESTAURANTS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 4 -

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Matters of strategic importance

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the review of the business, key performance indicators, principal risk and uncertainties and future developments.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the director individually has taken all the necessary steps that they ought to have taken as director in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Going concern

In assessing the going concern position of the company for the financial statements for the period ended 29 December 2024, the Directors have considered the company’s cash flow projections, liquidity and business activities. Prevailing market conditions, including cost of living rises & economic uncertainty, and their impact on guest confidence to spend has been considered as part of the company's adoption of the going concern basis.

 

In making this assessment, the Directors have made a specific analysis of the impact of current macro-economic uncertainties and global disruption in the Middle East as well as the emerging geo-political situations arising and how they may impact the company.

 

The company posted a profit of £1.59m (31 December 2023: £0.68m restated) for the period and had net assets of £7.83m (31 December 2023: £6.25m restated) for the period ended 29 December 2024. The company had cash reserves of £4.18m (31 December 2023: £4.11m) at the end of the current period.

 

The Board believes that the business has the ability to remain trading for a period of at least 12 months from the date of signing of these financial statements and therefore the financial statements have been prepared on a going concern basis.

By order of the board
J Fisher
Secretary
22 July 2025
COMPTOIR RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF COMPTOIR RESTAURANTS LIMITED
- 5 -
Opinion

We have audited the financial statements of Comptoir Restaurants Limited (the 'company') for the period ended 29 December 2024, which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statement is appropriate.

Our evaluation of the directors' assessment of the entity’s ability to continue to adopt the going concern basis of accounting included:

Evaluation of Management Assessment

 

Key observations:

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. However, clear and full disclosure of the facts and the directors' rationale for the use of the going concern basis of preparation, is a key financial statement disclosure and so was the focus of our audit in this area. Auditing standards require that to be reported as a key audit matter.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

COMPTOIR RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF COMPTOIR RESTAURANTS LIMITED
- 6 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

 

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

COMPTOIR RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF COMPTOIR RESTAURANTS LIMITED
- 7 -

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

To address the risk of fraud through management bias and override of controls, we:

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

There are inherent limitations in the audit procedures described above; any instance of non-compliance with laws and regulations and fraud which is far removed from transactions reflected in the financial statements would diminish the likelihood of detection. Furthermore, the risk of not detecting a material misstatement due to fraud is greater than the risk of not detecting one resulting from error. Fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through an act of collusion that would mitigate internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

James Astley (Senior Statutory Auditor)
for and on behalf of UHY Hacker Young
22 July 2025
Chartered Accountants
Statutory Auditor
Quadrant House
4 Thomas More Square
London
E1W 1YW
COMPTOIR RESTAURANTS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 8 -
Period
Period
ended
ended
29 December
31 December
2024
2023
Notes
£
£
Turnover
3
27,166,506
23,516,192
Cost of sales
(5,389,286)
(5,096,864)
Gross profit
21,777,220
18,419,328
Distribution costs
(9,681,292)
(8,060,030)
Administrative expenses
(10,865,940)
(9,764,718)
Other operating income
353,286
381,299
Exceptional item
(9,022)
(85,599)
Operating profit
4
1,574,252
890,280
Interest receivable and similar income
6
145,234
94,147
Profit before taxation
1,719,486
984,427
Tax on profit
8
(133,910)
(301,845)
Profit for the financial period
1,585,576
682,582

The profit and loss account has been prepared on the basis that all operations are continuing operations.

COMPTOIR RESTAURANTS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 9 -
Period
Period
ended
ended
29 December
31 December
2024
2023
£
£
Profit for the period
1,585,576
682,582
Other comprehensive income
-
-
Total comprehensive income for the period
1,585,576
682,582
COMPTOIR RESTAURANTS LIMITED
BALANCE SHEET
AS AT 29 DECEMBER 2024
29 December 2024
- 10 -
29 December 2024
31 December 2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
10
428,846
513,846
Tangible assets
11
7,899,975
6,728,768
8,328,821
7,242,614
Current assets
Stocks
12
474,720
466,344
Debtors
13
16,902,585
13,355,811
Cash at bank and in hand
4,183,108
4,105,667
21,560,413
17,927,822
Creditors: amounts falling due within one year
14
(20,985,821)
(18,074,089)
Net current assets/(liabilities)
574,592
(146,267)
Total assets less current liabilities
8,903,413
7,096,347
Provisions for liabilities
Provisions
16
401,227
314,066
Deferred tax liability
15
667,639
533,818
(1,068,866)
(847,884)
Net assets
7,834,547
6,248,463
Capital and reserves
Called up share capital
18
100
100
Other reserves
15,153
14,645
Profit and loss reserves
21
7,819,294
6,233,718
Total equity
7,834,547
6,248,463
The financial statements were approved by the board of directors and authorised for issue on 22 July 2025 and are signed on its behalf by:
A Kitous
Director
Company registration number 09887614 (England and Wales)
COMPTOIR RESTAURANTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 11 -
Share capital
Share based payments reserve
Profit and loss reserves
Total
Notes
£
£
£
£
As restated for the period ended 31 December 2023:
Balance at 2 January 2023
100
13,248
4,951,610
4,964,958
Correction of historical misstatement
25
-
-
599,526
599,526
As restated
100
13,248
5,551,136
5,564,484
Period ended 31 December 2023:
Profit and total comprehensive income
-
-
682,582
682,582
Credit to equity for equity settled share-based payments
19
-
1,397
-
0
1,397
Balance at 31 December 2023
100
14,645
6,233,718
6,248,463
Period ended 29 December 2024:
Profit and total comprehensive income
-
-
1,585,576
1,585,576
Credit to equity for equity settled share-based payments
19
-
508
-
0
508
Balance at 29 December 2024
100
15,153
7,819,294
7,834,547
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 12 -
1
Accounting policies
Company information

Comptoir Restaurants Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, Winchester House, 259-269 Old Marylebone Road, London, NW1 5RA.

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.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Comptoir Group Plc, which are available at the Companies House.

1.2
Going concern

In assessing the going concern position of the company for the financial statements for the period ended true29 December 2024, the Directors have considered the company’s cash flow projections, liquidity and business activities. Prevailing market conditions, including cost of living rises & economic uncertainty, and their impact on guest confidence to spend has been considered as part of the company's adoption of the going concern basis.

 

In making this assessment, the Directors have made a specific analysis of the impact of current macro-economic uncertainties and global disruption in the Middle East as well as the emerging geo-political situations arising and how they may impact the company.

 

The company posted a profit of £1.59m (31 December 2023: £0.68m restated) for the period and had net assets of £7.83m (31 December 2023: £6.25m restated) for the period ended 29 December 2024. The company had cash reserves of £4.18m (31 December 2023: £4.11m) at the end of the current period.

 

The Board believes that the business has the ability to remain trading for a period of at least 12 months from the date of signing of these financial statements and therefore the financial statements have been prepared on a going concern basis.

1.3
Reporting period

The accounting year for the company runs to the closest Sunday to 31 December each year. The financial statements for the current year has been prepared to 29 December 2024 and the comparative year to 31 December 2023.

1.4
Turnover

Turnover represents amounts receivable for food, beverage and service fees net of VAT and trade discounts provided to customers and staff.

COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 13 -

Turnover is recognised when the amounts are earned and can be reasonably estimated. Turnover is recorded net of value added tax collected from customers and are recognised as the related services are delivered.

1.5
Intangible fixed assets other than goodwill

Lease premiums paid to previous tenants are recognised within the Balance Sheet as intangible assets and amortised over the length of the lease.

Amortisation 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:

Lease premiums
Over the term of the lease on a straight line basis
1.6
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 land and buildings
Over the term of the lease
Plant and equipment
15% on reducing balance
Fixtures and fittings
10% on reducing balance

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.

1.7
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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 14 -
1.8
Stocks

Stocks are stated at the lower of cost and net realisable value. Net realisable value is based upon estimated selling price less further costs expected.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
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.

1.10
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.

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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 15 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.11
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.

1.12
Taxation

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

COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 16 -
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.

1.13
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.14
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.

1.15
Retirement benefits

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

1.16
Share-based payments

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 17 -

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

 

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

1.17
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Food sales
21,105,023
18,201,895
Drink sales
5,690,365
4,754,257
Other sales
371,118
560,040
27,166,506
23,516,192
2024
2023
£
£
Other revenue
Interest income
145,234
94,147
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 18 -
4
Operating profit
2024
2023
Operating profit for the period is stated after charging:
£
£
Depreciation of owned tangible fixed assets
1,101,661
924,069
Impairment of owned tangible fixed assets
65,213
270,708
(Profit)/loss on disposal of tangible fixed assets
-
10,726
Amortisation of intangible assets
85,000
45,417
Cost of stocks recognised as an expense
5,389,286
5,096,864
Share-based payments
508
1,397
Operating lease charges
4,277,131
3,063,244
5
Employees

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

2024
2023
Number
Number
Kitchen and Floor
405
377
Management
84
71
Total
489
448

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
8,889,752
7,420,194
Social security costs
659,848
507,730
Pension costs
125,898
109,375
9,675,498
8,037,299
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
145,234
94,147
7
Auditor's remuneration

Audit fees are borne by the company's fellow subsidiary, Timerest Limited.

COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 19 -
8
Taxation
2024
2023
£
£
Deferred tax
Origination and reversal of timing differences
133,910
301,845

The actual charge for the period can be reconciled to the expected charge for the period based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
1,719,486
984,427
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
429,872
231,340
Tax effect of expenses that are not deductible in determining taxable profit
16,430
50,812
Effect of change in corporation tax rate
-
0
(44,299)
Group relief
(425,993)
(194,161)
Depreciation on assets not qualifying for tax allowances
(20,309)
(43,692)
Movements in deferred tax
133,910
301,845
Taxation charge for the period
133,910
301,845
9
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2024
2023
Notes
£
£
In respect of:
Property, plant and equipment
11
65,213
270,708
Recognised in:
Administrative expenses
65,213
270,708
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 20 -
10
Intangible fixed assets
Lease premiums
£
Cost
At 1 January 2024 and 29 December 2024
850,000
Amortisation and impairment
At 1 January 2024
336,154
Amortisation charged for the period
85,000
At 29 December 2024
421,154
Carrying amount
At 29 December 2024
428,846
At 31 December 2023
513,846
11
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 31 December 2023
7,271,338
3,377,846
2,867,505
13,516,689
Correction of prior year misstatement
(298,686)
(122,563)
(42,980)
(464,229)
At 31 December 2023 (restated)
6,972,652
3,255,283
2,824,525
13,052,460
Additions
1,254,917
215,381
867,783
2,338,081
At 29 December 2024
8,227,569
3,470,664
3,692,308
15,390,541
Depreciation and impairment
At 31 December 2023
4,002,935
2,122,715
1,261,797
7,387,447
Correction of prior year misstatement
(586,182)
(307,641)
(169,932)
(1,063,755)
At 31 December 2023 (restated)
3,416,753
1,815,074
1,091,865
6,323,692
Depreciation charged in the period
622,268
246,451
232,942
1,101,661
Impairment losses
-
0
34,474
30,739
65,213
At 29 December 2024
4,039,021
2,095,999
1,355,546
7,490,566
Carrying amount
At 29 December 2024
4,188,548
1,374,665
2,336,762
7,899,975
At 31 December 2023 (restated)
3,555,899
1,440,209
1,732,660
6,728,768
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 21 -
12
Stocks
2024
2023
£
£
Finished goods and goods for resale
474,720
466,344
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
356,158
131,456
Amounts owed by group undertakings
15,157,463
11,887,112
Other debtors
368,291
399,181
Prepayments and accrued income
1,020,673
937,973
16,902,585
13,355,722
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 15)
-
0
89
Total debtors
16,902,585
13,355,811
14
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,885,494
915,727
Amounts owed to group undertakings
7,032,533
9,026,007
Taxation and social security
8,218,005
4,950,458
Other creditors
1,813,003
1,501,691
Accruals and deferred income
2,036,786
1,680,206
20,985,821
18,074,089
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 22 -
15
Deferred taxation

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

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Balances:
£
£
£
£
Accelerated capital allowances
667,639
533,818
-
-
Share based payments
-
-
-
89
667,639
533,818
-
89
2024
Movements in the period:
£
Liability at 1 January 2024
533,729
Charge to profit or loss
133,910
Liability at 29 December 2024
667,639

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

The applicable tax rate used in calculating the deferred tax balance is based on the substantively enacted tax rate by the UK government at the time these financial statements are prepared.

16
Provisions for liabilities
2024
2023
£
£
Provision for leasehold dilapidation
401,227
161,676
Provision for payroll pension scheme
-
152,390
401,227
314,066
Deferred tax liabilities
15
667,639
533,818
1,068,866
847,884
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
16
Provisions for liabilities
(Continued)
- 23 -
Movements on provisions:
Provision for leasehold dilapidation
Provision for payroll pension scheme
Total
£
£
£
Provision in the year
161,676
152,390
314,066
Additional provisions in the year
239,551
-
239,551
Reversal of provision
-
(152,390)
(152,390)
At 29 December 2024
401,227
-
401,227

The payroll pension scheme provision was reversed during the period as it was no longer probable that a claim would be received. The dilapidation provision is expected to the released at the end of the lease term of restaurant sites.

17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
125,898
109,375

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Authorised
Ordinary shares of £1 each
100
100
100
100
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 24 -
19
Share-based payment transactions
Number of share options
Weighted average exercise price
2024
2023
2024
2023
Number
Number
£
£
Outstanding at 1 January 2024
350,000
400,000
0.09
0.09
Cancelled
-
0
(50,000)
0
-
0
0.09
Outstanding at 29 December 2024
350,000
350,000
0.09
0.09
Exercisable at 29 December 2024
350,000
200,000
0.09
0.10

The options outstanding at 29 December 2024 had a weighted average exercise price of £0.09 and are fully vested.

 

During the period, the company recognised total share-based payments expenses of £508 (31 December 2023: £1,397) which related to equity settled share-based payment transactions.

20
Share based payments reserve
2024
2023
£
£
At the beginning of the period
14,645
13,248
Additions
508
1,397
At the end of the period
15,153
14,645
21
Profit and loss reserves
2024
2023
as restated
£
£
At the beginning of the period
5,634,192
4,951,610
Prior year adjustment
599,526
599,526
As restated
6,233,718
5,551,136
Profit for the period
1,585,576
682,582
At the end of the period
7,819,294
6,233,718
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 25 -
22
Operating lease commitments
Lessee

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

2024
2023
£
£
Within one year
3,615,999
2,546,947
Between two and five years
11,643,276
8,853,682
In over five years
9,204,663
8,716,791
24,463,938
20,117,420

During the period, the company received £nil (31 December 2023: £21,062) in rent concessions.

23
Related party transactions

The company has taken the 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.

24
Ultimate controlling party

The ultimate parent company is Comptoir Group Plc, a company registered in England and Wales. Comptoir Group Plc prepares group financial statements and copies can be obtained from Companies House. The registered office address is 6th Floor, Winchester House, 259-269 Old Marylebone Road, London, NW1 5RA.

25
Prior period adjustment

A prior period adjustment was included to reflect the reversal of historical impairment charges and disposals for fixed assets relating to restaurants that had been closed.

Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 Dec 2023
£
£
£
Fixed assets
Tangible assets
6,129,242
599,526
6,728,768
Capital and reserves
Profit and loss reserves
5,634,192
599,526
6,233,718
COMPTOIR RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
25
Prior period adjustment
(Continued)
- 26 -
Reconciliation of changes in equity
2 January
31 December
2023
2023
£
£
Adjustments to prior period
Reversal of impairment lossess for closed sites
562,163
562,163
Restatement of disposals for closed sites
37,363
37,363
Total adjustments
599,526
599,526
Equity as previously reported
4,964,958
5,648,937
Equity as adjusted
5,564,484
6,248,463
Analysis of the effect upon equity
Profit and loss reserves
599,526
599,526
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