ACCOUNTS - Final Accounts preparation

Company registration number: 13734083

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	RITZ PARADE LIMITED


RITZ PARADE LIMITED

COMPANY INFORMATION

Directors	K Bhojwani
	C Goldberg
	V M Talreja
	K S Trustman


Registered number	13734083


Registered office	Ground Floor Office No 9
	Ritz Parade
	London
	England
	W5 3RA


Accountants	Menzies LLP
	Chartered Accountants
	95 Gresham Street
	London
	EC2V 7AB


RITZ PARADE LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 6


RITZ PARADE LIMITED REGISTERED NUMBER:13734083

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		-		511,712
			-		511,712
Current assets
Debtors: amounts falling due within one year	5	28,802		147,861
Cash at bank and in hand		11,651		60,871
		40,453		208,732
Creditors: amounts falling due within one year	6	(3,893,717)		(4,148,971)
Net current liabilities			(3,853,264)		(3,940,239)
Total assets less current liabilities			(3,853,264)		(3,428,527)

Net liabilities			(3,853,264)		(3,428,527)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(3,853,364)	(3,428,627)
	(3,853,264)	(3,428,527)

Page 1


RITZ PARADE LIMITED REGISTERED NUMBER:13734083

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

V M Talreja

Director

Date: 18 September 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2


RITZ PARADE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Ritz Parade Limited is a private company, limited by shares, registered in England and Wales, with registration number 13734083. The registered office and principal place of business is shown on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

The company ceased activity by closing its restaurant on 23 December 2023 and accordingly, the financial statements have been prepared on a basis other than going concern.
The Directors are in discussions with creditors regarding outstanding liabilities and intend to liquidate the company in due course.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated by running of a licensed restaurant and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


RITZ PARADE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property	-		straight line over the life of the lease
Fixtures and fittings	-	25%
Computer equipment	-	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 44).

Page 4


RITZ PARADE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

	Short-term leasehold property	Fixtures and fittings	Computer equipment	Total
	£	£	£	£

At 1 January 2024	400,000	137,090	19,685	556,775
Disposals	(400,000)	(137,090)	(19,685)	(556,775)
At 31 December 2024	-	-	-	-

At 1 January 2024	-	38,328	6,735	45,063
Charge for the year on owned assets	-	22,848	4,374	27,222
Disposals	-	(61,176)	(11,109)	(72,285)
At 31 December 2024	-	-	-	-
Net book value
At 31 December 2024	-	-	-	-
At 31 December 2023	400,000	98,762	12,950	511,712

Page 5


RITZ PARADE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Other debtors	28,802	109,000
Prepayments and accrued income	-	38,861
	28,802	147,861

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other loans	3,853,673	3,821,273
Trade creditors	36,044	215,890
Other taxation and social security	-	66,301
Other creditors	-	5,467
Accruals and deferred income	4,000	40,040
	3,893,717	4,148,971

Page 6