Restaurant St Barts Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Restaurant St Barts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13737074 . The registered office is 5 Donkey Alley, London, SE22 0NY.

The presentation currency of the financial statements is the Pound Sterling (£).

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are measured at cost less any accumulated amortisation. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases, assets held under finance leases are depreciated in the same way as owned assets:

Plant & Machinery	5 year straight line
Fixtures & Fittings	5 year straight line
Computer Equipment	5 year straight line

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Restaurant St Barts Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2023 to 31 December 2024

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 22 (2023: NIL)

4. Prior Period Adjustment

During the year, an error relating to the incorrect valuation of share capital and fixed assets was identified from a previous year. As a result, comparative figures for the period ended 30 November 2023 have been restated.

The impact of the restatement reflects a reduction in share capital of £292,700 and an increase in profit and loss reserves of £117,121, following a reduction in depreciation.

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Restaurant St Barts Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2023 to 31 December 2024

5. Intangible Assets

	Other
	£
Cost
As at 1 December 2023	-
Additions	5,600

As at 31 December 2024	5,600

Amortisation
As at 1 December 2023	-
Provided during the period	560

As at 31 December 2024	560

Net Book Value
As at 31 December 2024	5,040

As at 1 December 2023	-

6. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 December 2023	8,947	521,433	882	531,262
Additions	-	123,146	335	123,481
Disposals	-	(48,067 )	-	(48,067 )

As at 31 December 2024	8,947	596,512	1,217	606,676

Depreciation
As at 1 December 2023	3,577	227,193	18	230,788
Provided during the period	1,789	175,767	104	177,660
Disposals	-	(39,282 )	-	(39,282 )

As at 31 December 2024	5,366	363,678	122	369,166

Net Book Value
As at 31 December 2024	3,581	232,834	1,095	237,510

As at 1 December 2023	5,370	294,240	864	300,474

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Restaurant St Barts Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2023 to 31 December 2024

7. Stocks

	31 December 2024	30 November 2023 as restated
	£	£
Stock	39,092	335

8. Debtors

	31 December 2024	30 November 2023 as restated
	£	£
Due within one year
Amounts owed by group undertakings	-	12,600
Other debtors	104,405	143,191

	104,405	155,791
Due after more than one year
Amounts owed by group undertakings	52,887	-

	157,292	155,791

9. Creditors: Amounts Falling Due Within One Year

	31 December 2024	30 November 2023 as restated
	£	£
Trade creditors	39,917	45,433
Bank loans and overdrafts	4,560	-
Amounts owed to group undertakings	-	417,080
Other creditors	83,658	100,009
Taxation and social security	38,473	112,587

	166,608	675,109

10. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024	30 November 2023 as restated
	£	£
Amounts owed to group undertakings	424,109	-

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Restaurant St Barts Ltd

Notes to the Financial Statements (continued)

For the Period 1 December 2023 to 31 December 2024

11. Share Capital

	31 December 2024	30 November 2023 as restated
	£	£
Allotted, Called up and fully paid	100	100

12. Pension Commitments

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,243 (2023: £1,421) were due to the fund. They are included in Other Creditors.

13. Related Party Transactions

Included in creditors is an amount of £53,679 (2023 - £(22,800)) owing to the directors of the company. This amount is unsecured, interest free and repayable on demand.

Included in creditors is an amount of £120,500 (2023 - £154,943) owed to Nest morning Lane Limited, an associated company. The amount is unsecured and interest free. Nest Morning Lane Limited has elected to not seek repayment within 12 months.

Included in creditors is an amount of £303,609 (2023 - £262,137) owed to Harlequin WBR Limited, an associated company. The amount is unsecured and interest free. Harlequin WBR Limited has elected to not seek repayment within 12 months.

Included in debtors is an amount of £22,020 (2023 - £12,500) owed from Nest Food Group Limited, a parent company. The amount is unsecured and interest free. The company has elected to not seek repayment within 12 months.

Included in debtors is an amount of £30,967 (2023 - £NIL) owed from Nest Farmhouse Ltd, an associated company.The amount is unsecured and interest free. The company has elected to not seek repayment within 12 months.

14. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Nest Food Group Limited . Nest Food Group Limited was incorporated in England and Wales. Copies of the group accounts may be obtained from the secretary, 5 Donkey Alley, London, England, SE22 0NY . The ultimate controlling party is Nest Food Group Limited who controls 100% of the shares of Restaurant St Barts Ltd .

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		31 December 2024		30 November 2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	5		5,040		-
Tangible Assets	6		237,510		300,474

			242,550		300,474
CURRENT ASSETS
Stocks	7	39,092		335
Debtors	8	157,292		155,791
Cash at bank and in hand		49,894		69,804

		246,278		225,930
Creditors: Amounts Falling Due Within One Year	9	(166,608 )		(675,109 )

NET CURRENT ASSETS (LIABILITIES)			79,670		(449,179 )

TOTAL ASSETS LESS CURRENT LIABILITIES			322,220		(148,705 )

Creditors: Amounts Falling Due After More Than One Year	10		(424,109 )		-

NET LIABILITIES			(101,889 )		(148,705 )

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			(101,989 )		(148,805 )

SHAREHOLDERS' FUNDS			(101,889)		(148,705)