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Registered number: 13276207
16CS OPERATIONS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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16CS OPERATIONS LTD
REGISTERED NUMBER:13276207
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Creditors: amounts falling due after more than one year
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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 on 1 July 2026.
The notes on pages 2 to 6 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
16CS Operations Limited is a private limited liability company registered in England and Wales. Its registered office address is at 2nd Floor Connaught House, 1-3 Mount Street, London, W1K 3NB.
The principal activity of the company is that of operating a restaurant.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The company is part of a group that is currently developing a high-end restaurant, which is expected to open in the middle of 2027. The project is being financed through equity from the group's shareholders and a patron membership programme. The directors have prepared cash flow projections that show a small positive cash balance at completion of the works. The projections include assumptions regarding further investor funding and patron membership income, in addition to the amounts formally committed. The group's existing investors are continuing to fund the project in line with their commitments to date, and the directors are confident that investors will provide the remaining support as required to complete the project. The directors also consider bank financing to be available as an additional option if required, though no formal approach to banks has been made. The group has not entered into a fixed commitment for the construction works, preserving a degree of control over the amount that will be spent on the project. However, completion of the works is necessary for the restaurant to open.
Although the directors are satisfied the group has access to the funding it requires, the commitments received do not yet cover the full projected cost and the forecasts contain estimates. The directors have concluded that the going concern basis remains appropriate. However, should the projected funding not be received in full, or should costs exceed current forecasts, the group would need to secure additional funding. These circumstances represent a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern and therefore its ability to realise its assets and discharge its liabilities in the normal course of business.
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Foreign currency translation
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The Company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses are presented in the Statement of Comprehensive Income.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Turnover is measured at the fair value of amounts receivable in respect of services provided in the year, net of trade discounts and excluding value added tax. Revenue from services are recognised in the period the services are provided.
Interest income is recognised in profit or loss using the effective interest method.
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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The Company contributes to 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..
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.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
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.
The average monthly number of employees, including directors, during the year was 3 (2024 - 1).
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Charge for the year on owned assets
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Accruals and deferred income
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Allotted, called up and fully paid
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1,000 Ordinary shares of £1 each
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Since the reporting date, the Company has continued the development and construction of its restaurant. The restaurant is expected to open between the spring and summer of 2027.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The immediate and ultimate parent undertaking is 16CS Holding Ltd, a company registered in England and Wales. It's registered office is at 2nd Floor Connaught House, 1-3 Mount Street, London, W1K 3NB.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
Material uncertainty related to going concern
We draw attention to note 2.2 in the financial statements, which describes the financing arrangements for the group's restaurant development project. The directors have prepared cash flow projections through to the anticipated opening date which show a small positive cash balance at completion of the works. Those projections include assumptions regarding the expected costs to complete the project, further investor funding, and patron membership income. Although the group's existing investors have given funding commitments, are continuing to fund the project in line with those commitments, and the directors consider additional financing options remain available, the commitments received do not yet cover the full projected cost and the forecasts contain estimates. Should the projected funding not be received in full, or should costs exceed current forecasts, the group would need to secure additional funding. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the director's assessment of the Company's ability to continue to adopt the going concern basis of accounting included verifying investor commitments received to date and reviewing cashflow projections.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
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The audit report was signed on 1 July 2026 by Martyn Atkinson FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.
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