REGISTERED NUMBER: 12357571 (England and Wales)

JAMES EATS LTD

Unaudited 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

Director:

J Aspin-Mayne

Registered office:

58a Eagle Brow

Lymm

WA13 0LZ

Registered number:

12357571 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

CUBO Birmingham

4th Floor

Two Chamberlain Square

Birmingham

West Midlands

B3 3AX

Fixed assets

Intangible assets

4

1,311,069

1,385,987

Tangible assets

5

1,364,457

1,579,941

Investments

6

2,500

2,500

2,678,026

2,968,428

Current assets

Stocks

7

41,698

36,329

Debtors

8

30,456

26,790

Cash at bank and in hand

385,690

474,870

457,844

537,989

Creditors

Amounts falling due within one year

9

1,807,872

1,845,024

Net current liabilities

(1,350,028

)

(1,307,035

)

Total assets less current liabilities

1,327,998

1,661,393

Creditors

Amounts falling due after more than one year

10

(899,995

)

(1,157,139

)

Provisions for liabilities

12

(288,157

)

(143,937

)

Net assets

139,846

360,317

Capital and reserves

Called up share capital

13

100

100

Retained earnings

139,746

360,217

Shareholders' funds

139,846

360,317

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 director acknowledges her 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 director and authorised for issue on 18 September 2025 and were signed by:

J Aspin-Mayne - Director

1.	Statutory information

James Eats Ltd is a private company, limited by shares , registered in England and Wales. 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.

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

-

5% on cost

Restaurant equipment

-

at varying rates on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% 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.

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.

Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible 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 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.

Financial instruments

The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 305 (2023 - 308 ) .

4.	Intangible fixed assets

Franchise

rights

£

Cost

At 1 January 2024

and 31 December 2024

1,498,364

Amortisation

At 1 January 2024

112,377

Amortisation for year

74,918

At 31 December 2024

187,295

Net book value

At 31 December 2024

1,311,069

At 31 December 2023

1,385,987

5.	Tangible fixed assets

Fixtures

Short

Restaurant

and

Computer

leasehold

equipment

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2024

449

1,799,303

64,649

550

1,864,951

Additions

447

35,712

4,816

-

40,975

At 31 December 2024

896

1,835,015

69,465

550

1,905,926

Depreciation

At 1 January 2024

21

249,529

35,082

378

285,010

Charge for year

43

241,992

14,286

138

256,459

At 31 December 2024

64

491,521

49,368

516

541,469

Net book value

At 31 December 2024

832

1,343,494

20,097

34

1,364,457

At 31 December 2023

428

1,549,774

29,567

172

1,579,941

6.	Fixed asset investments

Other

investments

£

Cost

At 1 January 2024

and 31 December 2024

2,500

Net book value

At 31 December 2024

2,500

At 31 December 2023

2,500

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

7.

Stocks

2024

2023

as restated

£

£

Food

30,585

26,074

Paper

6,676

7,932

Non-product

4,437

2,323

41,698

36,329

8.

Debtors: amounts falling due within one year

2024

2023

as restated

£

£

Trade debtors

337

3,587

Other debtors

17,639

11,679

Prepayments

12,480

11,524

30,456

26,790

9.

Creditors: amounts falling due within one year

2024

2023

as restated

£

£

Bank loans and overdrafts (see note 11)

257,148

257,148

Trade creditors

1,078,288

1,043,831

Social security and other taxes

24,683

23,030

VAT

151,164

180,682

Other creditors

147,748

180,771

Directors' current accounts

81,246

101,932

Accrued expenses

67,595

57,630

1,807,872

1,845,024

10.

Creditors: amounts falling due after more than one year

2024

2023

as restated

£

£

Bank loans (see note 11)

899,995

1,157,139

11.

Loans

An analysis of the maturity of loans is given below:

2024

2023

as restated

£

£

Amounts falling due within one year or on demand:

Bank loans

257,148

257,148

Amounts falling due between one and two years:

Bank loans - 1-2 years

257,169

257,148

Amounts falling due between two and five years:

Bank loans - 2-5 years

642,826

899,991

The bank loan is repayable in equal installments over the terms stated above, is unsecured and carries interest at a rate of 4.82% per annum.

12.	Provisions for liabilities

2024

2023

as restated

£

£

Deferred tax

288,157

143,937

Deferred tax

£

Balance at 1 January 2024

143,937

Provided during year

144,220

Balance at 31 December 2024

288,157

13.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

75

Ordinary A

£1

75

75

25

Ordinary B

£1

25

25

100

100

14.	Ultimate controlling party

The ultimate controlling party is J Aspin-Mayne.