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Registered number: 12426451 NOREEN RESTAURANTS LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
NOREEN RESTAURANTS LTD REGISTERED NUMBER: 12426451 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets |  |  | 65,541 |  | -
Current assets |  |  |  |  |
Stocks |  | 13,249 |  | - |
Debtors: amounts falling due within one year | 5 | 32,296 |  | 290 |
Cash at bank and in hand |  | 148,624 |  | 1,964 |
|  | 194,169 |  | 2,254 |
Creditors: amounts falling due within one year | 6 | (772,317) |  | (62,639) |
Net current liabilities |  |  | (578,148) |  | (60,385)
Net liabilities |  |  | (512,607) |  | (60,385)
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 1,000 |  | 1,000
Profit and loss account |  |  | (513,607) |  | (61,385)
|  |  | (512,607) |  | (60,385)
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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 income and retained earnings 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:
H Isa
Director
Date: 18 July 2026
The notes on pages 2 to 7 form part of these financial statements. Page 1
NOREEN RESTAURANTS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Noreen Restaurants Ltd is a private company, limited by shares, and is incorporated in England and Wales. The address of its registered office is 1501, 4 Merchant Square, Harbet Road, London, W2 1AP. The functional and presentation currency is Pounds Sterling (£). 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
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, being a period of at least twelve months from the date of approval of the financial statements. The company occupies premises owned by Noreen Ltd, a fellow group undertaking. The company has received financial support from Sea Gate Estate W.L.L., its immediate parent undertaking, and from other group undertakings. The directors have received confirmation that group support will continue and that amounts due to group undertakings will not be called for repayment in the foreseeable future. Having reviewed forecasts and available funding arrangements, the director has a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis. Page 2
NOREEN RESTAURANTS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 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 sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | 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.
| 2.5 | 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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 3
NOREEN RESTAURANTS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Taxation
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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.7 | 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. 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 basis:
|  |  |  | Catering equipment and utensils | - | 25% |
|  |  |  | Computer equipment | - | 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.
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 4
NOREEN RESTAURANTS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.11 | Creditors
Short-term creditors are measured at the transaction price.
3. | Employees
| The average monthly number of employees, including directors, during the year was 29 (2024 - 1).
4. | Tangible fixed assets
|  | Catering equipment and utensils | Computer equipment | Total
|  | £ | £ | £
| Cost |  |  |
| Additions | 73,919 | 2,640 | 76,559
| At 31 December 2025 | 73,919 | 2,640 | 76,559
| Depreciation |  |  |
| Charge for the year on owned assets | 10,442 | 576 | 11,018
| At 31 December 2025 | 10,442 | 576 | 11,018
| Net book value |  |  |
| At 31 December 2025 | 63,477 | 2,064 | 65,541
| At 31 December 2024 | - | - | -
Page 5
NOREEN RESTAURANTS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 8,005 | -
| Other debtors | 17,972 | 290
| Prepayments and accrued income | 6,319 | -
|  | 32,296 | 290
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 96,177 | -
| Amounts owed to group undertakings | 421,693 | 61,189
| Other taxation and social security | 28,549 | -
| Other creditors | 61,630 | -
| Accruals and deferred income | 164,268 | 1,450
|  | 772,317 | 62,639
7. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,000 Ordinary shares of £1 each | 1,000 | 1,000
8. | Contingent liabilities
The company is a member of value added tax group of companies. It is thereby jointly and severally liable for any value added tax liabilities by members of the group. As at 31 December 2025 the extent of this liability was £152,907 (2024 - £Nil).
9. | Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £6,920 (2024 - £Nil). Contributions totalling £3,692 (2024 - £2,670) were payable to the fund at the balance sheet date and are included in creditors. Page 6
NOREEN RESTAURANTS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Related party transactions
| The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group. At the balance sheet date, the amount due to the director was £35,994 (2024 - £Nil).
11. | Ultimate parent undertaking
The immediate parent undertaking is Sea Gate Estate W.L.L., a company incorporated in the Kingdom of Bahrain. The address of its registered office is 136 83 Jeblat Hibshi, Block 433, Bahrain, 20575. The ultimate parent undertaking is RHRI Holding Limited, a company incorporated in the British Virgin Islands.
Page 7