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REGISTERED NUMBER: SC722921 (Scotland)















TEALLACH RESTAURANTS LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2024






TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


TEALLACH RESTAURANTS LIMITED

Company Information
for the year ended 31 December 2024







Directors: I G Fyfe
S M J Fyfe





Registered office: McDonald's Restaurants Unit 3,
Balmakeith Retail Park,
Nairn
IV12 5QF





Registered number: SC722921 (Scotland)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)

Balance Sheet
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 1,066,542 1,123,042
Tangible assets 5 1,287,923 1,374,764
Investments 6 2,500 1,250
2,356,965 2,499,056

Current assets
Stocks 7 41,417 48,077
Debtors 8 59,386 44,714
Cash at bank and in hand 766,057 703,664
866,860 796,455
Creditors
Amounts falling due within one year 9 1,609,033 1,216,824
Net current liabilities (742,173 ) (420,369 )
Total assets less current liabilities 1,614,792 2,078,687

Creditors
Amounts falling due after more than one year 10 (1,500,285 ) (1,975,016 )

Provisions for liabilities (73,207 ) (70,606 )
Net assets 41,300 33,065

Capital and reserves
Called up share capital 12 100 100
Retained earnings 41,200 32,965
Shareholders' funds 41,300 33,065

TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)

Balance Sheet - continued
31 December 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





I G Fyfe - Director


TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)

Notes to the Financial Statements
for the year ended 31 December 2024

1. Statutory information

Teallach Restaurants Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The directors have considered the application of the going concern basis of accounting, and in doing so they have considered the period from the date of this report until 31 December 2026. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods at its restaurants in the ordinary course of the company's activities. Turnover is shown net of discounts and Value Added Tax

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the company, and specific criteria have been met for each of the company's activities.

Franchise rights & fees
Franchise rights & fees are being written off evenly over the 20 year term of the Franchise agreements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - at varying rates on cost
Restaurant equipment - at varying rates on cost
Office equipment - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of fixed assets
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 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 each 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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted cost of the future holiday entitlement so accrued at the Balance Sheet date.

TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. Accounting policies - continued

Financial instruments
For financial assets measured at amortised cost, the impairment cost is measured at the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the assets effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they legally become payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Judgements in applying accounting policies and key sources of estimation uncertainty
In the process of applying the company's accounting policies, management are required to make certain estimates and judgements. The key estimates and judgements are as follows:

Depreciation and residual values
The director has reviewed the asset lives and associated residual values of all fixed asset classes, and has concluded that asset lives and residual values are appropriate.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted cost of the future holiday entitlement so accrued at the Balance Sheet date.

3. Employees and directors

The average number of employees during the year was 298 (2023 - 143 ) .

TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. Intangible fixed assets
Franchise Franchise
Rights fees Totals
£ £ £
Cost
At 1 January 2024
and 31 December 2024 1,100,000 30,000 1,130,000
Amortisation
At 1 January 2024 4,583 2,375 6,958
Amortisation for year 55,000 1,500 56,500
At 31 December 2024 59,583 3,875 63,458
Net book value
At 31 December 2024 1,040,417 26,125 1,066,542
At 31 December 2023 1,095,417 27,625 1,123,042

5. Tangible fixed assets
Short Restaurant Office
leasehold equipment equipment Totals
£ £ £ £
Cost
At 1 January 2024 9,822 1,500,407 19,251 1,529,480
Additions 895 25,491 584 26,970
At 31 December 2024 10,717 1,525,898 19,835 1,556,450
Depreciation
At 1 January 2024 778 151,085 2,853 154,716
Charge for year 536 106,303 6,972 113,811
At 31 December 2024 1,314 257,388 9,825 268,527
Net book value
At 31 December 2024 9,403 1,268,510 10,010 1,287,923
At 31 December 2023 9,044 1,349,322 16,398 1,374,764

6. Fixed asset investments
Other
investments
£
Cost
At 1 January 2024 1,250
Additions 1,250
At 31 December 2024 2,500
Net book value
At 31 December 2024 2,500
At 31 December 2023 1,250

Fixed asset investments consists of 2,500 (2023 - 1,250) ordinary shares of £1 each in Fries Holding Company Limited, a company registered in Guernsey. The investments are included in the accounts at cost.

TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

7. Stocks
2024 2023
£ £
Food stock 29,461 38,310
Paper stock 7,508 7,196
Non-product stock 4,448 2,571
41,417 48,077

8. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 320 4,701
Other debtors 5,001 -
Corporation tax 1,000 -
Prepayments 53,065 40,013
59,386 44,714

9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts (see note 11) 324,571 174,523
Trade creditors 341,552 307,789
Social security and other taxes 23,645 18,724
VAT 358,926 184,903
Other creditors 148,888 98,477
Directors' current accounts 367,411 377,424
Accrued expenses 44,040 54,984
1,609,033 1,216,824

10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans (see note 11) 1,500,285 1,975,016

11. Loans

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 324,571 174,523

Amounts falling due between one and two years:
Bank loans - 1-2 years 324,571 349,047

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,175,714 1,625,969

The loans are due for repayment in equal monthly instalments with terms as stated above. They are unsecured with interest charged at 1.7% above the Bank of England base rate.

TEALLACH RESTAURANTS LIMITED (REGISTERED NUMBER: SC722921)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100

13. Related party disclosures

During the year, the director Mr I G Fyfe charged total interest to the company of £5,500 (2023 - £3,939).