SPOON STREET LTD 31/12/2024 iXBRL

Company registration number: NI620760

SPOON STREET LTD

Unaudited filleted financial statements

31 December 2024

SPOON STREET LTD

Contents

Accountants' report

Statement of financial position

Notes to the financial statements

SPOON STREET LTD

Report to the director on the preparation of the

unaudited statutory financial statements of Spoon Street Ltd

Period ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spoon Street Ltd for the period ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the director of Spoon Street Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Spoon Street Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than its director as a body for our work or for this report.

It is your duty to ensure that Spoon Street Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Spoon Street Ltd. You consider that Spoon Street Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Spoon Street Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Shriver Price & Co.

Chartered Accountants

49 Downshire Road

Newry

Co. Down

BT34 1BA

26 September 2025

SPOON STREET LTD

Statement of financial position

31 December 2024

		31/12/24		30/06/23
	Note	£	£	£	£

Fixed assets
Tangible assets	5	548,202		456,979
Investments	6	15,000		15,000
		_______		_______
			563,202		471,979

Current assets
Stocks		45,000		45,000
Debtors	7	139,171		103,069
Cash at bank and in hand		46,376		56,079
		_______		_______
		230,547		204,148
Creditors: amounts falling due
within one year	8	( 699,465)		( 322,578)
		_______		_______
Net current liabilities			( 468,918)		( 118,430)
			_______		_______
Total assets less current liabilities			94,284		353,549

Creditors: amounts falling due
after more than one year	9		( 3,773)		( 19,249)

Provisions for liabilities			( 57,984)		( 57,984)

			_______		_______
Net assets			32,527		276,316
			_______		_______

Capital and reserves
Called up share capital			220		220
Profit and loss account			32,307		276,096
			_______		_______
Shareholders funds			32,527		276,316
			_______		_______

For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mr Justin Ward

Director

Company registration number: NI620760

SPOON STREET LTD

Notes to the financial statements

Period ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is C/O 49 Downshire Road, Newry, Co. Down, BT34 1BA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Short leasehold property	-	10 %	straight line
Plant and machinery	-	15 %	reducing balance
Fittings, fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 28 (2023: 33 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 July 2023	187,328	86,127	660,680	10,700	944,835
Additions	121,333	3,815	90,729	3,100	218,977
	_______	_______	_______	_______	_______
At 31 December 2024	308,661	89,942	751,409	13,800	1,163,812
	_______	_______	_______	_______	_______
Depreciation
At 1 July 2023	44,949	16,437	422,616	3,853	487,855
Charge for the year	43,999	15,712	65,257	2,787	127,755
	_______	_______	_______	_______	_______
At 31 December 2024	88,948	32,149	487,873	6,640	615,610
	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2024	219,713	57,793	263,536	7,160	548,202
	_______	_______	_______	_______	_______
At 30 June 2023	142,379	69,690	238,064	6,847	456,980
	_______	_______	_______	_______	_______

6. Investments

	Other investments other than loans	Total
	£	£
Cost
At 1 July 2023 and 31 December 2024	15,000	15,000
	_______	_______
Impairment
At 1 July 2023 and 31 December 2024	-	-
	_______	_______
Carrying amount
At 31 December 2024	15,000	15,000
	_______	_______
At 30 June 2023	15,000	15,000
	_______	_______

7. Debtors

	31/12/24	30/06/23
	£	£
Other debtors	139,171	103,069
	_______	_______

8. Creditors: amounts falling due within one year

	31/12/24	30/06/23
	£	£
Bank loans and overdrafts	10,654	10,654
Trade creditors	85,687	105,929
Corporation tax	( 1)	( 1)
Social security and other taxes	26,848	25,562
Other creditors	576,277	180,434
	_______	_______
	699,465	322,578
	_______	_______

9. Creditors: amounts falling due after more than one year

	31/12/24	30/06/23
	£	£
Other creditors	3,773	19,249
	_______	_______

10. Related party transactions

During the period the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	Period	Period	Period	Period
	ended	ended	ended	ended
	31/12/24	30/06/23	31/12/24	30/06/23
	£	£	£	£
Spoon Street Holdings Ltd	60,000	50,000	110,825	50,825
Revington Foods Ltd	-	-	4,536	4,536
Eddies Restaurants Ltd	( 3,469)	12,984	( 3,469)	-
Ward Restaurants Group Ltd	( 390,814)	( 164,710)	( 567,048)	( 176,234)
	_______	_______	_______	_______

11. Controlling party

The company is a 100% subsidiary of Spoon Street Holdings Ltd which is a 100% subsidiary Ward Restaurants Group Ltd.