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| Felix Restaurants Limited |
| Company Registration Number: 10293237 |
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| Notes |
| For the year ended 31 December 2024 |
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| 1. General Information |
Felix Restaurants Limited is a Private Limited Company, Limited By shares, registered in United Kingdom, registration number 10293237
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. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the reporting date the company had net current liabilities £629,891 (2023 - £427,366). The company's shareholders have undertaken to provide such financial support as is required to ensure that the company is able to meet its working capital requirements for the foreseeable future. on this basis it is considered appropriate to prepare the financial statements on a going concern basis.
The directors are of an opinion that the company has adequate resources to continue operational existence for the foreseeable future due to reasons detailed above. |
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| | 2024 | 2023 |
| | £ | £ |
| 4. Employees |
| Wages and salaries | | 328,603 | 327,103 |
| Social security costs | | 21,589 | 22,517 |
| Pension costs | | 2,623 | 1,722 |
| Total staff costs | | 352,815 | 351,342 |
Average number of employees including directors during the period | | 30 | 30 |
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The average monthly number of persons (including directors) employed by the company during the year was: |
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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 over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals 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 | 403,041 | 224,538 | 0 | 0 | 0 | 627,579 | | Additions | 0 | 4,660 | 0 | 0 | 0 | 4,660 | | Disposals | 0 | 0 | 0 | 0 | 0 | 0 | | At 31 Dec 2024 | 403,041 | 229,198 | 0 | 0 | 0 | 632,239 | | | Depreciation | | | | | | | | At 01 Jan 2024 | 184,944 | 222,465 | 0 | 0 | 0 | 407,409 | | Charge for year | 26,870 | 2,013 | 0 | 0 | 0 | 28,883 | | Disposals | 0 | 0 | 0 | 0 | 0 | 0 | | At 31 December 2024 | 211,814 | 224,478 | 0 | 0 | 0 | 436,292 | | | Net book value | | | | | | | | At 31 Dec 2024 | 191,227 | 4,720 | 0 | 0 | 0 | 195,947 | | At 31 Dec 2023 | 218,097 | 2,073 | 0 | 0 | 0 | 220,170 |
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| | 2024 | 2023 |
| | £ | £ |
| 7. Debtors |
| Other debtors | | 186,693 | 143,869 |
| Prepayments and accrued income | | 55,132 | 32,500 |
| Total | | 241,825 | 176,369 |
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| Additional information |
Debtors amounting to £241,825 (2023 - £178,869) comprise of rental deposit of £32,500 and £209,325. The intercompany balances are unsecured, interest free and repayable on demand. |
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| | 2024 | 2023 |
| | £ | £ |
| 8. Creditors - within one year |
| Bank loans and overdrafts | | 10,000 | 10,000 |
| Trade creditors | | 52,365 | 18,932 |
| Taxation and social security | | 44,366 | 22,234 |
| Accruals and deferred income | | 34,845 | 6,840 |
| Other creditors | | 976,922 | 795,711 |
| Total | | 1,118,498 | 853,717 |
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| | 2024 | 2023 |
| | £ | £ |
| 9. Creditors - More than one year |
| Bank loans and overdrafts | | 4,167 | 14,167 |
| Total | | 4,167 | 14,167 |
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| Additional information |
On 7 June 2020, Felix Restaurants Limited entered into a Bounce Back Loan Scheme arrangement for £50,000. The loan is being repaid monthly over a period of six years. |
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| | 2024 | 2023 |
| | £ | £ |
| 10. Operating lease commitments |
| Within one year | | 4,167 | 14,167 |
| Total | | 4,167 | 14,167 |
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| Additional information |
On 7 June 2020, Felix Restaurants Limited entered into a Bounce Back Loan Scheme arrangement for £50,000. The loan is being repaid monthly over a period of six years. |
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| 11. Share capital |
| Item Description | Share class | 2024 | 2023 | Ordinary Shares of £1 each | Ordinary | 100 | 100 | | Total: | | 100 | 100 | |
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| 12. Related party transactions |
At the reporting date, £721,104 (2023 - £721,104) was due to Fox Group Limited. Fox Group Limited is a company in which C R Fox is a director and holds a controlling interest. |
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At the reporting date, £49,952 (2023 - £49952) was due to M C Li.
At the reporting date, £186,692 (2023 - £105260) was due from Felix Restaurants (Warley) Limited. C R Fox and M C Li are directors and hold significant interest in Felix Restaurants (Warley) Limited. |
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These balance are all interest free and repayable on demand. |
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