Company registration number 07218630 (England and Wales)
SHAWA LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SHAWA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
SHAWA LIMITED
BALANCE SHEET
AS AT 29 DECEMBER 2024
29 December 2024
- 1 -
29 December 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
110,000
110,000
Tangible assets
5
280,540
282,173
390,540
392,173
Current assets
Stocks
18,845
18,587
Debtors
6
5,297,687
3,399,461
Cash at bank and in hand
215,564
506,819
5,532,096
3,924,867
Creditors: amounts falling due within one year
7
(3,059,692)
(2,440,728)
Net current assets
2,472,404
1,484,139
Total assets less current liabilities
2,862,944
1,876,312
Provisions for liabilities
8
(39,247)
(39,130)
Net assets
2,823,697
1,837,182
Capital and reserves
Called up share capital
10
90
90
Profit and loss reserves
2,823,607
1,837,092
Total equity
2,823,697
1,837,182

These financial statements have been prepared and delivered in accordance with the provisions applicable to the small companies exemption and section 480 of the Companies Act 2006.

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

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 07218630 (England and Wales)
SHAWA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Shawa 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 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.

The financial statements of the company are consolidated in the financial statements of Comptoir Group Plc, which are available at 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 £0.99m (31 December 2023: £0.91m) for the period and had net assets of £2.82m (31 December 2023: £1.84m) as at 29 December 2024. The company had cash reserves of £0.22m (31 December 2023: £0.51m) 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 period has been prepared to 29 December 2024 and the comparative period 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.

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.

SHAWA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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:

Rent premium
Over the term of the lease
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% reducing balance
Fixtures and fittings
10% 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.

SHAWA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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 net realisable value is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash at bank and in hand

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.

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.

1.11
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.

SHAWA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.12
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.

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.

SHAWA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.16
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
Employees
2024
2023
Number
Number
Total
37
43
4
Intangible fixed assets
Rent premium
£
Cost
At 1 January 2024 and 29 December 2024
110,000
Amortisation and impairment
At 1 January 2024 and 29 December 2024
-
0
Carrying amount
At 29 December 2024
110,000
At 31 December 2023
110,000

Amortisation will be spread over the life of the lease, which is due to start on 1 January 2024.

SHAWA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 7 -
5
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2024
182,057
227,263
71,052
480,372
Additions
-
0
10,091
24,350
34,441
At 29 December 2024
182,057
237,354
95,402
514,813
Depreciation and impairment
At 1 January 2024
85,109
96,589
16,501
198,199
Depreciation charged in the period
12,144
17,412
6,518
36,074
At 29 December 2024
97,253
114,001
23,019
234,273
Carrying amount
At 29 December 2024
84,804
123,353
72,383
280,540
At 31 December 2023
96,948
130,674
54,551
282,173
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
86,855
140,608
Amounts owed by group undertakings
4,323,948
2,544,483
Other debtors
886,884
714,370
5,297,687
3,399,461
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
179,574
115,977
Amounts owed to group undertakings
1,043,558
982,261
Taxation and social security
1,632,567
1,050,850
Other creditors
203,993
291,640
3,059,692
2,440,728
SHAWA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
- 8 -
8
Provisions for liabilities
2024
2023
£
£
Dilapidations
5,874
4,555
Provision for payroll pension scheme
-
7,245
5,874
11,800
Deferred tax liabilities
9
33,373
27,330
39,247
39,130
Movements on provisions apart from deferred tax liabilities:
Dilapidations
Provision for payroll pension scheme
Total
£
£
£
At 1 January 2024
4,555
7,245
11,800
Additional provisions in the year
1,319
-
1,319
Reversal of provision
-
(7,245)
(7,245)
At 29 December 2024
5,874
-
5,874

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.

9
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
33,373
27,330
2024
Movements in the period:
£
Liability at 1 January 2024
27,330
Charge to profit or loss
6,043
Liability at 29 December 2024
33,373
SHAWA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
9
Deferred taxation
(Continued)
- 9 -

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.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Authorised
Ordinary shares of £1 each
90
90
90
90
Issued and fully paid
Ordinary shares of £1 each
90
90
90
90
11
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 is unqualified and includes the following:

Senior Statutory Auditor:
James Astley
Statutory Auditor:
UHY Hacker Young
Date of audit report:
22 July 2025
12
Operating lease commitments
Lessee

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

2024
2023
£
£
1,098,444
1,219,487
13
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.

14
Parent company

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.

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