REGISTERED NUMBER: 05277716 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2023 TO 29 NOVEMBER 2024

FOR

FRANCESCO'S RESTAURANT LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

F Spinella

REGISTERED OFFICE:

5 Rodney Street

Wigan

Lancashire

WN1 1DG

REGISTERED NUMBER:

05277716 (England and Wales)

ACCOUNTANTS:

Fairhurst Accountants Ltd

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,045

7,210

7,045

7,210

CURRENT ASSETS

Stocks

26,384

26,424

Debtors

6

957

246

Cash at bank and in hand

22,690

32,723

50,031

59,393

CREDITORS

Amounts falling due within one year

7

79,004

59,425

NET CURRENT LIABILITIES

(28,973

)

(32

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(21,928

)

7,178

CREDITORS

Amounts falling due after more than one year

8

(6,421

)

(15,458

)

PROVISIONS FOR LIABILITIES

(1,570

)

(1,522

)

NET LIABILITIES

(29,919

)

(9,802

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(30,019

)

(9,902

)

SHAREHOLDERS' FUNDS

(29,919

)

(9,802

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 23 October 2025 and were signed by:

F Spinella - Director

1.	STATUTORY INFORMATION

Francesco's Restaurant Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 principal accounting policies adopted in the preparation of the financial statements are set out below.

Going concern

The company is dependent on the financial support of the shareholder. On this basis the director considers the company to be a going concern, but, inherently, there can be no certainty to these views.

Turnover

Turnover represents the amounts received or receivable for goods or services provided to customers in the year, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are included at cost or valuation less depreciation and impairment.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures & fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks

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

Financial instruments

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

The following assets and liabilities are classified as financial liabilities; Directors loan account, trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically Directors loan accounts, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash or consideration that is expected to be paid or received.

Taxation

Taxation for the period 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Leases

Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. All other leases are classified as operating leases.

Rentals payable under operating leases are charged to the profit or loss on a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight-line basis.

Employee 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 27 (2023 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2023

and 29 November 2024

200,000

AMORTISATION

At 1 December 2023

and 29 November 2024

200,000

NET BOOK VALUE

At 29 November 2024

-

At 30 November 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2023

60,519

Additions

1,079

At 29 November 2024

61,598

DEPRECIATION

At 1 December 2023

53,309

Charge for period

1,244

At 29 November 2024

54,553

NET BOOK VALUE

At 29 November 2024

7,045

At 30 November 2023

7,210

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

957

246

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

23,669

7,362

Taxation and social security

25,561

21,527

Other creditors

19,774

20,536

79,004

59,425

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

6,421

15,458

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

2,292

13,750

10.	RELATED PARTY DISCLOSURES