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| Felix Restaurants (Warley) Limited |
| Company Registration Number: 10873174 |
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| Notes |
| For the year ended 31 December 2024 |
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| 1. General Information |
Felix Restaurants (Warley) Limited is a Private Limited Company, Limited By shares, registered in United Kingdom, registration number 10873174
First Floor
5 Fleet place
London
EC4M 7RD
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| 2. Statement of Compliance |
FRS 102 - These financial statements have been prepared in compliance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006. |
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| 3. Accounting policies |
| Basis of preparation |
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. |
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| Presentation currency |
The financial statements are prepared in sterling which is the functional currency of the company. |
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| | 2024 | 2023 |
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| 4. Employees |
Average number of employees including directors during the period | | 67 | 68 |
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| 5. Inventories (Stock) |
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversal of impairment losses are also recognised in the income statement |
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| 6. Tangible fixed assets |
| Land and buildings | Plant and Machinery | Furniture and fittings | Office Equipment | Motor Vehicles | Total | | Cost | £ | £ | £ | £ | £ | £ | | At 01 Jan 2024 | 3,255,838 | 0 | 0 | 0 | 0 | 3,255,838 | | Additions | 10,268 | 0 | 0 | 0 | 0 | 10,268 | | Disposals | 0 | 0 | 0 | 0 | 0 | 0 | | At 31 Dec 2024 | 3,266,106 | 0 | 0 | 0 | 0 | 3,266,106 | | | Depreciation | | | | | | | | At 01 Jan 2024 | 568,090 | 0 | 0 | 0 | 0 | 568,090 | | Charge for year | 110,515 | 0 | 0 | 0 | 0 | 110,515 | | Disposals | 0 | 0 | 0 | 0 | 0 | 0 | | At 31 December 2024 | 678,605 | 0 | 0 | 0 | 0 | 678,605 | | | Net book value | | | | | | | | At 31 Dec 2024 | 2,587,501 | 0 | 0 | 0 | 0 | 2,587,501 | | At 31 Dec 2023 | 2,698,162 | 0 | 0 | 0 | 0 | 2,698,162 |
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| | 2024 | 2023 |
| | £ | £ |
| 7. Debtors |
| Other debtors | | 61,353 | 95,643 |
| Prepayments and accrued income | | 25,500 | 25,500 |
| Total | | 86,853 | 121,143 |
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| | 2024 | 2023 |
| | £ | £ |
| 8. Creditors - within one year |
| Bank loans and overdrafts | | 10,000 | 10,000 |
| Trade creditors | | 378,000 | 395,756 |
| Taxation and social security | | 146,197 | 72,252 |
| Accruals and deferred income | | 22,520 | 21,248 |
| Other creditors | | 2,040,295 | 1,944,659 |
| Total | | 2,597,012 | 2,443,915 |
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| | 2024 | 2023 |
| | £ | £ |
| 9. Creditors - More than one year |
| Bank loans and overdrafts | | 3,676 | 14,167 |
| Other creditors | | 2,157,945 | 2,375,421 |
| Total | | 2,161,621 | 2,389,588 |
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| Additional information |
On 7 June 202, Felix Restaurants (Warley) Limited entered into a Bounce Back Loan Scheme arrangement for GBP 50,000. The Loan is being repaid monthly over a period of six years. |
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| | 2024 | 2023 |
| | £ | £ |
| 10. Borrowings |
| Within one year | | 10,492 | 9,999 |
| Between one and five years | | 3,675 | 14,168 |
| Total | | 14,167 | 24,167 |
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| | 2024 | 2023 |
| | £ | £ |
| 11. Operating lease commitments |
| Over five years | | 2,211,250 | 2,356,250 |
| Total | | 2,211,250 | 2,356,250 |
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| Additional information |
At the reporting dare the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows: |
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| 12. Share capital |
| Item Description | Share class | 2024 | 2023 | Issued and fully paid up GBP 1 | Ordinary | 100 | 100 | | Total: | | 100 | 100 | |
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| 13. Related party transactions |
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At the reporting date, £1,703,834 (2023 - £1,703,834) was due to Fox Group Limited, a company in which C R Fox is a director and holds a controlling interest.
At the reporting date, £68,316 (2023 - £71,864) was due to M C Li.
At the reporting date, £105,260 (2023 - £105,260) was due to Felix Restaurants Limited. C R Fox and M C Li are both directors and hold interest in Felix Restaurants Limited.
These balances are all interest free and repayable on demand.
At the reporting date, £2,157,947 (2023 - £2,375,420) was due to C R Fox & C Fox. Interest of £128,752 (2023 - £131,9320) accrued on this loan during the year. |
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