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Registered number: 01062025 MR. CHOW RESTAURANT LIMITED ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
MR. CHOW RESTAURANT LIMITED COMPANY INFORMATION
Director | Michael Chow
Registered number | 01062025
Registered office | 3rd Floor
| 86 - 90 Paul Street
| London
| EC2A 4NE
Independent auditor | Cooper Parry Group Limited
| Statutory Auditor
| Broadwalk House
| 5th Floor
| 5 Appold Street
| London
| EC2A 2AG
MR. CHOW RESTAURANT LIMITED CONTENTS
| Page
Balance sheet | 1
Statement of changes in equity | 2
Notes to the financial statements | 3 - 13
MR. CHOW RESTAURANT LIMITED REGISTERED NUMBER: 01062025 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 11,492 |  | 15,973
Investments | 6 |  | 1,159,989 |  | 1,105,587
|  |  | 1,171,481 |  | 1,121,560
Current assets |  |  |  |  |
Stocks | 7 | 59,372 |  | 80,819 |
Debtors: amounts falling due within one year | 8 | 3,570,200 |  | 3,116,421 |
Cash at bank and in hand |  | 260,371 |  | 246,102 |
|  | 3,889,943 |  | 3,443,342 |
Creditors: amounts falling due within one year | 10 | (2,379,647) |  | (1,977,989) |
Net current assets |  |  | 1,510,296 |  | 1,465,353
Total assets less current liabilities |  |  | 2,681,777 |  | 2,586,913
Net assets |  |  | 2,681,777 |  | 2,586,913
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 10 |  | 10
Profit and loss account |  |  | 2,681,767 |  | 2,586,903
|  |  | 2,681,777 |  | 2,586,913
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 comprehensive income 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:
Michael Chow
Director
Date: 22 December 2025
The notes on pages 3 to 13 form part of these financial statements. Page 1
MR. CHOW RESTAURANT LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2023 | 10 | 1,742,696 | 1,742,706
Profit for the year | - | 844,207 | 844,207
Total comprehensive income for the year | - | 844,207 | 844,207
At 1 January 2024 | 10 | 2,586,903 | 2,586,913
Profit for the year | - | 94,864 | 94,864
Total comprehensive income for the year | - | 94,864 | 94,864
At 31 December 2024 | 10 | 2,681,767 | 2,681,777
| The notes on pages 3 to 13 form part of these financial statements.
Page 2
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Mr. Chow Restaurant Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office can be found in the Company Information page.
2. | Statement of compliance
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. 3.Accounting policies
| 3.1 | 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.
| 3.2 | Significant judgements and estimates
In applying the Company's accounting policies, the director is required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. 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, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. Critical judgements in applying the Company's accounting policies The critical judgement that the director has made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below: (i) Assessing indicators and impairment In assessing whether there have been any indicators or impairment of assets, the director has considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability. There have been no indicators or impairments identified during the current financial year. Page 3
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3.Accounting policies (continued) Key sources of estimation uncertainty The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (i) Recoverability of receivables The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the director considers factors such as the aging of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers. (ii) Determining residual values and useful economic lives of property, plant and equipment The Company depreciates tangible assets over their estimated useful lives. The estimation of the useful lives is based on historical performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes. Judgement is applied by management when determining the residual values for plant, machinery and equipment. When determining the residual value management aim to assess the amount that the Company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices. (iii) Stock provisioning Stock is valued at the lower of cost and expected future sale price, which inherently requires an estimation of that price. The estimation includes judgement on a number of factors including historic sales patterns and potential obsolescence.
| 3.3 | Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover represents amounts receivable for goods and services provided in the year and is recognised on the accruals basis. Turnover is made up of the sale of food and beverages.
| 3.4 | 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. Page 4
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3.Accounting policies (continued)
| 3.4 | Tangible fixed assets (continued)
Depreciation is provided in order to write off each asset over its estimated useful life. Depreciation is provided on the following basis:
|  |  |  | Short-term leasehold property | - | in accordance with the property
|  |  |  | Fixtures and fittings | - | 33% on reducing balance
Impairment of assets At each reporting date the Company reviews the carrying value of its assets to determine whether there is any indication that these assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to fetermine the extent of the impairment loss. The recoverable amount of an asset is higher of fair value less costs to sell and value in use. Value in use is the present value of the future cash flows expected to be derived from the asset, or cash generating unit. The present value calculation involves estimating the future cash inflows and outflows to be derived from continuing use of the asset, and from its ultimate disposal, applying an appropriate discount rate to those future cash flows. Where the recoverable amount of an asset is less than the carrying amount, an impairment loss is recognised immediately in profit or loss. An impairment loss recognised for all assets is reversed in a subsequent period if, and only if, the reasons for the impairment loss have ceased to apply. Impairment losses are charged to the Income Statement in administration expenses.
| 3.5 | Fixed asset investments
Investment held as fixed assets are held at cost less provision for impairment. Investments in Artwork and Antiques are held at cost for capital appreciation on the Balance Sheet, They are held at net of any impairment losses applied to them.
| 3.6 | Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. The stock net realisable values are reviewed, and adjusted if appropriate, at the end of each reporting period. Stock are measured on the first in first out (FIFO) basis of accounting. Page 5
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3.Accounting policies (continued)
| 3.7 | 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. Financial instruments are recognised in the Company's Balance Sheet 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. 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. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Page 6
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3.Accounting policies (continued)
| 3.8 | 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 balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 3.9 | Lease commitments
Lease arrangements are classified as a finance lease where the terms of the lease transfer substantially all the risks and regards of ownership to the lessee. All other lease arrangements are classified as an operating lease. The Company as a lessee Assets held under finance lease arrangements are recognised as assets within property plant and equipment at their fair value, or if lower at the present value of the minimum lease payments, each determined at the inception of the lease. The assets are subsequently depreciated over the shorter of the lease terms and their useful life. The corresponding finance lease liability is recognised as a finance obligation, with lease payments being apportioned between finance charges and a reduction to the lease obligation so as to achieve a constant rate of interest on the remaining amount of the liability. Finance charges are recognised within the income statement. Payments made under operating lease arrangements are charged to profit or loss on a straight line basis over the lease term. Benefits receivable as operating lease incentives are recognised within the income statement on a straight line basis over the lease term.
| 3.10 | Finance costs
Finance costs are charged to profit or loss 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. Page 7
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3.Accounting policies (continued)
| 3.11 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 3.12 | 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 3.13 | Provisions
Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probable that the obligation will be required to be settled, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted when the time value of money is material.
| 3.14 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 3.15 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 3.16 | 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. Page 8
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 3.Accounting policies (continued)
| 3.17 | Going concern
These financial statements have been prepared on a going concern basis. The director has carefully reviewed and considered relevant information, including an assessment on future trading projection for a period of 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. Based on assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities. In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the director has continued to adopt the going concern basis of accounting in preparing these financial statements.
| 3.18 | Equity
Equity instruments are classified in accordance with the substance of contractual agreement. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.
4. | Employees
| The average monthly number of employees, including directors, during the year was 37 (2023:38).
Page 9
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Short leasehold | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2024 | 26,748 | 631,184 | 657,932
| Additions | - | 840 | 840
| At 31 December 2024 | 26,748 | 632,024 | 658,772
| Depreciation |  |  |
| At 1 January 2024 | 26,748 | 615,211 | 641,959
| Charge for the year on owned assets | - | 5,321 | 5,321
| At 31 December 2024 | 26,748 | 620,532 | 647,280
| Net book value |  |  |
| At 31 December 2024 | - | 11,492 | 11,492
| At 31 December 2023 | - | 15,973 | 15,973
6. | Fixed asset investments
|  | Antiques and artwork
|  | £
| Cost or valuation |
| At 1 January 2024 | 1,105,587
| Additions | 54,402
| At 31 December 2024 | 1,159,989
7. | Stocks
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Stocks | 59,372 | 80,819
|  | 59,372 | 80,819
Page 10
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 152,340 | 159,283
| Other debtors | 3,285,672 | 2,834,313
| Prepayments and accrued income | 132,188 | 122,825
|  | 3,570,200 | 3,116,421
9. | Loans to director
| Included within other debtors due within one year is a loan to Michael Chow, the director. Amounts included within the accounts are as follows:
|  | 2024
|  | £
| At 1 January 2024 | 2,112,677
| Amounts advanced | 595,302
| Amounts repaid | (340,034)
| At 31 December 2024 | 2,367,945
| The loan is repayable on demand and no interest is charged on the balance.
10. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank overdrafts | 5,660 | 1,248
| Trade creditors | 154,169 | 137,762
| Amounts owed to group undertakings | 493,604 | 493,604
| Corporation tax | 1,313,252 | 963,611
| Other taxation and social security | 323,982 | 345,072
| Other creditors | 56,039 | 18,692
| Accruals and deferred income | 32,941 | 18,000
|  | 2,379,647 | 1,977,989
Page 11
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
11. | Leasing agreements
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Within one year | 400,936 | 381,844
| Between 1-5 years | 1,814,489 | 1,728,085
| Over 5 years | 379,043 | 866,382
|  | 2,594,468 | 2,976,311
12. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10 Ordinary shares of £1.00 each | 10 | 10
13. | Reserves
14. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £23,489 (2023: £26,031) . Contributions totalling £7,340 (2023: £9,117) were payable to the fund at the balance sheet date and are included in creditors.
15. | Related party transactions
| The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. Included within debtors is a loan balance owed by the director of £2,367,945 (2023: £2,112,677). This balance is un-secured, interest free, and repayable on demand.
16. | Controlling party
The ultimate controlling party is Mr Chow Holdings, LLC. Page 12
MR. CHOW RESTAURANT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
17. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 22 December 2025 by Daley Tyndale FCCA (Senior statutory auditor) on behalf of Cooper Parry Group Limited.
Page 13