Registration number: NI033440

Sharp Pencil Restaurants Ltd

(Registration number: NI033440)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	3,807	5,124
Investment property	5	1,183,814	828,515
		1,187,621	833,639
Current assets
Debtors	6	30,318	59,539
Cash at bank and in hand		31,479	64,072
		61,797	123,611
Creditors: Amounts falling due within one year	7	(765,158)	(545,064)
Net current liabilities		(703,361)	(421,453)
Total assets less current liabilities		484,260	412,186
Creditors: Amounts falling due after more than one year	7	(3,050)	(13,207)
Provisions for liabilities		(952)	(1,281)
Net assets		480,258	397,698
Capital and reserves
Called up share capital	8	200,000	200,000
Retained earnings		280,258	197,698
Shareholders' funds		480,258	397,698

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Sharp Pencil Restaurants Ltd

(Registration number: NI033440)
Balance Sheet as at 31 October 2025

Approved and authorised by the Board on 24 June 2026 and signed on its behalf by:
 

......................................... Mr Neil Marshall Black Director

......................................... Mr Paul Heyes Director

Sharp Pencil Restaurants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 1 Ballymena Road, Doagh, Ballyclare, County Antrim, BT39 0QR.

These financial statements were authorised for issue by the Board on 24 June 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Rental and other operating income represents total invoiced amounts for the accounting period net of value added tax. Rental income is recognised on a straight-line basis over the lease term. The aggregate cost of lease incentives are initially held on the balance sheet and released to the profit and loss account on a straight-line basis over the lease term.

Sharp Pencil Restaurants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment	25% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the company directors. Changes in fair value are recognised in profit or loss.

Sharp Pencil Restaurants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Sharp Pencil Restaurants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

4	Tangible assets

	Equipment  £	Total £
Cost or valuation
At 1 November 2024	43,748	43,748
Disposals	(36,978)	(36,978)
At 31 October 2025	6,770	6,770
Depreciation
At 1 November 2024	38,624	38,624
Charge for the year	1,270	1,270
Eliminated on disposal	(36,931)	(36,931)
At 31 October 2025	2,963	2,963
Carrying amount
At 31 October 2025	3,807	3,807
At 31 October 2024	5,124	5,124

5	Investment property

	2025 £
At 1 November	828,515
Additions	510,299
Disposals	(155,000)
At 31 October	1,183,814

All investment properties are held at cost, which the directors still consider to be their fair value.

Sharp Pencil Restaurants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		6,180	2,231
Amounts owed by group undertakings	10	-	34,045
Prepayments		2,289	1,823
Other debtors		21,849	21,440
		30,318	59,539

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	10,000	10,000
Trade creditors		(1,824)	167
Amounts owed to group undertakings	10	745,195	509,236
Taxation and social security		1,725	14,762
Accruals and deferred income		10,062	10,899
		765,158	545,064

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	3,050	13,207

Sharp Pencil Restaurants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	200,000	200,000	200,000	200,000

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	3,050	13,207

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,000	10,000

Bank borrowings at the balance sheet date totalling £13,050 (2024: £23,207) are secured by the UK government under the Bounce Back Loan Scheme.

10	Related party transactions

The Company has taken advantage of exemption, under the terms of FRS 102, not to disclose related party transactions with wholly owned subsidiaries within the Group.

11	Parent and ultimate parent undertaking

The company's immediate parent is Ancre Developments Limited, incorporated in Northern Ireland.