ACCOUNTS - Final Accounts preparation

Creditors: amounts falling due within one year

Registered number: 10046716

THE BOTANIST SLOANE SQUARE LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 23 FEBRUARY 2025

THE BOTANIST SLOANE SQUARE LIMITED

REGISTERED NUMBER: 10046716

STATEMENT OF FINANCIAL POSITION

AS AT 23 FEBRUARY 2025

	23 February	25 February
	2025	2024
Note	£000	£000

Fixed assets
Tangible assets	4		125		247
Current assets
Stocks		24		27
Debtors	5	230		925
Cash at bank and in hand		124		146
		378		1,098
Creditors: amounts falling due within one year	6	(1,747)		(2,246)
Net current liabilities			(1,369)		(1,148)
Other provisions	7	(58)		-
			(58)		-
Net liabilities			(1,302)		(901)

Capital and reserves
Called up share capital	-	-
Profit and loss account	(1,302)	(901)
	(1,302)	(901)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

E Martin

Director

Date: 2 June 2026

The notes on pages 2 to 8 form part of these financial statements.

Page 1

THE BOTANIST SLOANE SQUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 23 FEBRUARY 2025

1.	General information

The Botanist Sloane Square Limited is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 10046716 and registered office address is 10 Queen Street Place, London, United Kingdom, EC4R 1AG. The Company's principal place of business is 3 Hatton Wall, London EC1N 8HX.
The principal activity of the Company is the management and operation of a bar.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Going concern

In prepared the financial statements, the directors have made an assessment of the entity's ability to continue as a going concern. The lease at Botanist Sloane Square terminated prior to signing the financial statement and the directors have confirmed there is no option for the lease to be renewed. As a result, the Company will cease trading on 23 June 2026, being the end of the lease, as management have found no alternative location from which to continue operations.
For this reason, the directors have concluded that the Company is no longer a going concern and these financial statements have been prepared on that basis. As a result, assets have been stated at the lower of the carrying value and estimated recoverable amount, and liabilities include all known and expected costs of closure. Any resulting impairment losses have been recognised in the statement of comprehensive income.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other taxes.
Revenue primarily consists of sales of food and beverages which is recognised at the point of sale to the customer. Other revenue is recognised over the period to which the related service is provided.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

THE BOTANIST SLOANE SQUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 23 FEBRUARY 2025

2.Accounting policies (continued)

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 3

THE BOTANIST SLOANE SQUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 23 FEBRUARY 2025

2.Accounting policies (continued)

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Leasehold property	-	over the life of the lease
Fixtures and fittings	-	20%
Computer equipment	-	20%
Smallwares	-	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Impairment of fixed assets

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.11

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost comprises direct purchase costs that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment.

2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 4

THE BOTANIST SLOANE SQUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 23 FEBRUARY 2025

2.Accounting policies (continued)

2.13

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.14

Creditors

Short-term creditors are measured at the transaction price.

2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including the directors, during the period was 43 (2024: 53).

Page 5

THE BOTANIST SLOANE SQUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 23 FEBRUARY 2025

4.	Tangible fixed assets

	Leasehold property	Fixtures and fittings	Computer equipment	Smallwares	Total
	£000	£000	£000	£000	£000
Cost
At 26 February 2024	322	1,315	37	81	1,755
Additions	-	33	-	20	53
Disposals	(115)	(1,059)	(29)	(27)	(1,230)
At 23 February 2025	207	289	8	74	578
Depreciation
At 26 February 2024	261	1,162	33	52	1,508
Charge for the period	25	50	2	19	96
Disposals	(115)	(1,059)	(29)	(27)	(1,230)
Impairment charge	36	28	1	14	79
At 23 February 2025	207	181	7	58	453
Net book value
At 23 February 2025	-	108	1	16	125
At 25 February 2024	61	153	4	29	247

Debtors

					23 February	25 February
					2025	2024
					£000	£000

Amounts owed by associated undertakings	-	548
Prepayments	230	221
Deferred taxation	-	156
	230	925

Amounts owed by associated undertakings are unsecured, interest free, and payable on demand.

Page 6

THE BOTANIST SLOANE SQUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 23 FEBRUARY 2025

Other loans	170	-
Trade creditors	395	345
Amounts owed to participating interests	982	1,658
Other taxation and social security	92	100
Other creditors	90	125
Accruals	18	18
	1,747	2,246

Included within Other loans is a loan with 365 Finance which was entered into on 30 December 2024. The total loan received was £199k with interest payable at 24% on the loan balance. As at 23 February 2025, the total balance owed was £170k.

7.	Provisions

		Dilapidations provision
		£000

	Charged to profit or loss	58
	At 23 February 2025	58

A dilapidations provision has been recognised in relation to the termination of the lease at Botanist Sloane Square. The amount is managements best estimate of the costs required at the end of the lease to return the premises to the original condition under the lease terms.

Not later than 1 year	628	609
Later than 1 year and not later than 5 years	208	809
	836	1,418

Page 7

THE BOTANIST SLOANE SQUARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 23 FEBRUARY 2025

9.	Related party transactions
	The ETM Group Limited, a company under common control, charged the Company £167k (2024: £328k) in respect of management services provided throughout the period. During the period the Company recharged costs of £278k (2024: £2k) to ETM Concessions Limited, a company under common control. During the period the Company incurred costs from ETM Premium Sports Bars Limited of £335k (2024: £114k), a company under common control. During the period the Company charged costs of £2k (2024: £1k) to Maven Premium Bars & Restaurants Ltd, a company under common control. During the period the Company incurred costs from Maven Leisure Ltd of £31k (2024: £8k), a company under common control. The following balances were outstanding at the period end in the Company and have been included within debtors/creditors.
		Period ended 23 February	Period ended 25 February
		2025	2024
		£000	£000

ETM Group Limited	(836)	(1,658)
ETM Premium Sports Bars Limited	(146)	189
ETM Concessions Limited	-	356
	(982)	(1,113)

10.	Post balance sheet events

Post year end, the leasehold at Botanist Sloane Square was terminated and the landlord has not renewed the lease, which ends on 23 June 2026. Therefore, the Company will cease to trade on this date as no alternative location has been found to continue operations.

11.	Controlling party

The directors do not consider there to be one controlling party.

12.	Auditors' information

The auditors' report on the financial statements for the period ended 23 February 2025 was unqualified.

The audit report was signed on 3 June 2026 by Jessica Edwards (Senior Statutory Auditor) on behalf of HaysMac LLP.

Page 8