Company registration number 06540247 (England and Wales)
ENTRECOTE (CITY) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ENTRECOTE (CITY) LTD
CONTENTS
Page
Statement of financial position
3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
ENTRECOTE (CITY) LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities
The principal activity of the company continued to be that of a leasing company.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr M Elghanayan
Sassan Mokhtarzadeh
Joseph Shashou
Mourad Dine

Going Concern

The directors' have considered whether it is appropriate to prepare the company's financial statements on a going concern basis. The company is dependent on the ongoing support of its parent company Entrecote Holdings Ltd and fellow subsidiaries (the Group).

In doing so, the directors have considered the operation of the group and prepared and cash flow forecasts to ascertain whether the group can meet its obligations as they fall due for at least twelve months from the date of approval of the financial statements.

The directors therefore have a reasonable expectation the group has adequate resources to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements and consequently have adopted the going concern basis of accounting in preparing the non-statutory accounts.

Auditor

In accordance with the company's articles, a resolution proposing that Taylor Associates be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ENTRECOTE (CITY) LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr M Elghanayan
Director
6 October 2025
ENTRECOTE (CITY) LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
76,516
90,060
Current assets
Debtors
5
689,689
668,993
Cash at bank and in hand
-
0
113,297
689,689
782,290
Creditors: amounts falling due within one year
6
(1,390,896)
(1,451,625)
Net current liabilities
(701,207)
(669,335)
Net liabilities
(624,691)
(579,275)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(624,692)
(579,276)
Total equity
(624,691)
(579,275)

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 October 2025 and are signed on its behalf by:
Sassan Mokhtarzadeh
Director
Company registration number 06540247 (England and Wales)
ENTRECOTE (CITY) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
1
(559,402)
(559,401)
Year ended 31 December 2023:
Loss and total comprehensive income
-
(19,874)
(19,874)
Balance at 31 December 2023
1
(579,276)
(579,275)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(45,416)
(45,416)
Balance at 31 December 2024
1
(624,692)
(624,691)
ENTRECOTE (CITY) LTD
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
1
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.

2
Accounting policies
2.1
Company information

Entrecote (City) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor Gallery Court, 28 Arcadia Avenue, London, N3 2FG.

2.2
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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

2.3
Going concern

The company has been advanced funds by group undertakings to support the business' working capital true needs. At the year end, the net balance owed to group undertakings was £1,221,781 (202 3: £1,289,717 ) and the directors of the company have received positive confirmation that support will continue to be made available as required.

The directors of the company have considered this alongside operational budgets and cash flow forecasts and have put in appropriate contingency measures and management strategies to ensure the company can meet its liabilities as they fall due from existing facilities.

Due to continued support from group undertakings and future management strategies, the directors therefore have a reasonable expectation that adequate resources to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements and consequently have adopted the going concern basis of accounting in preparing the non-statutory accounts.

2.4
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

ENTRECOTE (CITY) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 6 -
2.5
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:

Land and buildings Freehold
15 % reducing balance
Land and buildings Leasehold
over term of lease
Plant and machinery
15% reducing balance
Fixtures, fittings & equipment
20% 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.

2.6
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.

2.7
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.

2.8
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 statement of financial position 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.

ENTRECOTE (CITY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 7 -
Basic financial assets

Basic financial assets, which include trade and other 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 trade and other creditors and amounts owed to group undertakings, 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 paymen ts 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. A m ounts 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.

2.9
Taxation

The tax expense represents the current tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4

There was no remuneration paid to the directors by the company during the year (202 3: £Nil).

ENTRECOTE (CITY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
1,131,840
59,631
1,191,471
Depreciation and impairment
At 1 January 2024
1,045,514
55,897
1,101,411
Depreciation charged in the year
12,949
595
13,544
At 31 December 2024
1,058,463
56,492
1,114,955
Carrying amount
At 31 December 2024
73,377
3,139
76,516
At 31 December 2023
86,326
3,734
90,060
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
532,753
535,773
Other debtors
156,936
133,220
689,689
668,993
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
47,887
47,741
Other creditors
1,343,009
1,403,884
1,390,896
1,451,625

Other creditors include amounts owed to group undertakings. These amounts are unsecured, interest free and repayable on demand.

7
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:

ENTRECOTE (CITY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Audit report information
(Continued)
- 9 -
Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
P Winter
Statutory Auditor:
Taylor Associates
Date of audit report:
6 October 2025
8
Parent company

The ultimate controlling and parent party is Entrecote (Holdings) Ltd, a company registered in England & Wales. The address of its registered office is Gable House, 239 Regents Park Road, Finchley, London, United Kingdom, N3 3LF.

The consolidated financial statements of Entrecote (Holdings) Ltd may be obtained from First Floor, Gallery Court, 28 Arcadia Ave, London N3 2FG.

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