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MICHAEL'S 88 FASTFOOD LIMITED

Registered Number
SC297829
(Scotland)

Unaudited Financial Statements for the Year ended
30 April 2025

MICHAEL'S 88 FASTFOOD LIMITED
Company Information
for the year from 1 May 2024 to 30 April 2025

Director | CHUNG, Wing Kwong

Registered Address | 9 Royal Crescent
| Glasgow
| G3 7SP

Registered Number | SC297829 (Scotland)

MICHAEL'S 88 FASTFOOD LIMITED
Balance Sheet as at
30 April 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 334 |  |  |  | 456
Investment property | 4 |  |  | 386,613 |  |  |  | 386,613
|  |  |  | 386,947 |  |  |  | 387,069
Current assets |  |  |  |  |  |  |  |
Debtors | 5 | 2,425 |  |  |  | 2,133 |  |
Cash at bank and on hand |  | 14,305 |  |  |  | 7,080 |  |
|  | 16,730 |  |  |  | 9,213 |  |
Creditors amounts falling due within one year | 6 | (56,644) |  |  |  | (54,678) |  |
Net current assets (liabilities) |  |  |  | (39,914) |  |  |  | (45,465)
Total assets less current liabilities |  |  |  | 347,033 |  |  |  | 341,604
Creditors amounts falling due after one year | 7 |  |  | (172,886) |  |  |  | (172,163)
Provisions for liabilities | 9 |  |  | (5,518) |  |  |  | (5,541)
Net assets |  |  |  | 168,629 |  |  |  | 163,900
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 100 |  |  |  | 100
Revaluation reserve |  |  |  | 23,249 |  |  |  | 23,249
Profit and loss account |  |  |  | 145,280 |  |  |  | 140,551
Shareholders' funds | 10 |  |  | 168,629 |  |  |  | 163,900

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 16 January 2026, and are signed on its behalf by:
CHUNG, Wing Kwong Director Registered Company No. SC297829

MICHAEL'S 88 FASTFOOD LIMITED
Notes to the Financial Statements
for the year ended 30 April 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Basis of preparation
--- | ---
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

| Turnover policy
--- | ---
| The turnover shown in the profit and loss account represents the rental income receivable for the year. Income is recognised on the basis of rent due for the year.

| Finance costs
--- | ---
| Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

| Current taxation
--- | ---
| Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Tangible fixed assets and depreciation
--- | ---
| All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

|  | Straight line (years)
| Fixtures and fittings | 5

| Investment property
--- | ---
| The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

| Financial instruments
--- | ---
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 0 |  | 0

3. | Tangible fixed assets
--- | ---

|  | Fixtures & fittings |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 May 24 | 605 |  | 605
| At 30 April 25 | 605 |  | 605
| Depreciation and impairment
| At 01 May 24 | 149 |  | 149
| Charge for year | 122 |  | 122
| At 30 April 25 | 271 |  | 271
| Net book value
| At 30 April 25 | 334 |  | 334
| At 30 April 24 | 456 |  | 456

4. | Investment property
--- | ---
| Fair value at 30 April 2025 is represented by: Valuation Surplus £28,704 Cost £357,909 Total £386,613 The investment properties were revalued on an open market by the director on 30 April 2025. The director's valuation at 30 April 2025 remains unchanged.

|  | £
| Fair value at 01 May 24 | 386,613
| At 30 April 25 | 386,613

5. | Debtors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Other debtors | 980 |  | 980
| Prepayments and accrued income | 1,445 |  | 1,153
| Total | 2,425 |  | 2,133

6. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Taxation and social security | 1,132 |  | 195
| Other creditors | 51,941 |  | 51,817
| Accrued liabilities and deferred income | 3,571 |  | 2,666
| Total | 56,644 |  | 54,678

| Other creditors represents a loan from the director which is interest free and repayable on demand.

7. | Creditors: amounts due after one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 172,886 |  | 172,163
| Total | 172,886 |  | 172,163

| Included within bank borrowings are mortgages secured over the assets of the company.

8. | Secured creditors
--- | ---
| The bank loans are secured over the assets of the company.

9. | Provisions for liabilities
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 5,518 |  | 5,541
| Total | 5,518 |  | 5,541

10. | Revaluation reserve
--- | ---

|  | £
| Reserve at 01 May 24 | 23,249
| At 30 April 25 | 23,249

11. | Related party transactions
--- | ---
| The loan balance due to the director amounted to £51,941 (2024: £51,817) at the year end.