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Company No: 06652654 (England and Wales)

# BABBO RESTAURANTS LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

BABBO RESTAURANTS LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

BABBO RESTAURANTS LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
BABBO RESTAURANTS LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,524,535 |  | 12,700
|  | 1,524,535 |  | 12,700
Current assets |  |  |  |
Stocks |  | 37,611 |  | 0
Debtors | 4 | 230,502 |  | 672,187
Cash at bank and in hand |  | 147,731 |  | 12,646
|  | 415,844 |  | 684,833
Creditors: amounts falling due within one year | 5 | ( 12,236,902) |  | ( 10,285,626)
Net current liabilities |  | (11,821,058) |  | (9,600,793)
Total assets less current liabilities |  | (10,296,523) |  | (9,588,093)
Creditors: amounts falling due after more than one year | 6 | ( 40,839) |  | ( 18,442)
Net liabilities |  | ( 10,337,362) |  | ( 9,606,535)
Capital and reserves |  |  |  |
Called-up share capital | 7 | 100 |  | 100
Profit and loss account |  | ( 10,337,462 ) |  | ( 9,606,635 )
Total shareholder's deficit |  | ( 10,337,362) |  | ( 9,606,535)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Babbo Restaurants Limited (registered number: 06652654) were approved and authorised for issue by the Director. They were signed on its behalf by:

A S Joorabchian Director |

29 December 2025

BABBO RESTAURANTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
BABBO RESTAURANTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

Babbo Restaurants Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.

##### General information and basis of accounting

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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.

##### Going concern

At the reporting date the company had net current liabilities amounting to £11,821,058 and net liabilities amounting to £10,337,362, of which £ 10,420,628 was owed to companies under common control.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

##### Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

#####

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 15 years straight line
Plant and machinery etc. | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

##### Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, excluding the director | 11 |  | 1

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery etc. |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2024 | 12,700 |  | 0 |  | 12,700
Additions | 1,153,256 |  | 405,697 |  | 1,558,953
At 31 March 2025 | 1,165,956 |  | 405,697 |  | 1,571,653
Accumulated depreciation |  |  |  |  |
At 01 April 2024 | 0 |  | 0 |  | 0
Charge for the financial year | 23,198 |  | 23,920 |  | 47,118
At 31 March 2025 | 23,198 |  | 23,920 |  | 47,118
Net book value |  |  |  |  |
At 31 March 2025 | 1,142,758 |  | 381,777 |  | 1,524,535
At 31 March 2024 | 12,700 |  | 0 |  | 12,700

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 9,053 |  | 519,912
Other debtors | 221,449 |  | 152,275
| 230,502 |  | 672,187

Other debtors include amounts falling due after more than one year of £129,600 (2024: £129,600).

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 9,538 |  | 10,182
Trade creditors | 294,925 |  | 75,667
Taxation and social security | 92,185 |  | 170,097
Other creditors | 11,840,254 |  | 10,029,680
| 12,236,902 |  | 10,285,626

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 8,006 |  | 18,442
Other creditors | 32,833 |  | 0
| 40,839 |  | 18,442

The bank loan represents amounts owed by the company under the Coronavirus Business Interruption Loan Scheme (CBILS). The loan is repayable by December 2026 and bears interest of 2.5% per annum and is guaranteed by the UK government.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,000 Ordinary shares of £ 0.10 each | 100 |  | 100

#### 8. Financial commitments

Commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 2,027,500 |  | 0

#### 9. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Amounts due to companies under common control included in other creditors | 10,420,628 |  | 8,584,265

Included in other debtors is £123,896 (2024: £123,896) due from companies under common control. This balance has been fully provided for at the current and prior year end.