Damon's Restaurants (UK) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02069952 (England and Wales)

Unaudited Financial Statements

for the Period

27 January 2025 to 1 February 2026

for

Damon's Restaurants (UK) Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

J E Foulston

S A Carey

REGISTERED OFFICE:

999 Doddington Road

Lincoln

Lincolnshire

LN6 3SE

REGISTERED NUMBER:

02069952 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Damon's Restaurants (UK) Limited for the period ended 1 February 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Damon's Restaurants (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Damon's Restaurants (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Damon's Restaurants (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Damon's Restaurants (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Damon's Restaurants (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Damon's Restaurants (UK) Limited. You consider that Damon's Restaurants (UK) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Damon's Restaurants (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

29 October 2026

FIXED ASSETS

Tangible assets

4

2,138,262

2,227,674

CURRENT ASSETS

Stocks

38,073

37,461

Debtors

5

1,218,177

1,682,577

Cash at bank and in hand

73,287

81,593

1,329,537

1,801,631

CREDITORS

Amounts falling due within one year

6

3,981,434

4,022,602

NET CURRENT LIABILITIES

(2,651,897

)

(2,220,971

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(513,635

)

6,703

CAPITAL AND RESERVES

Called up share capital

8

1,000

Revaluation reserve

9

196,007

Retained earnings

(710,642

)

(190,304

)

SHAREHOLDERS' FUNDS

(513,635

)

6,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 1 February 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 1 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2026 and were signed on its behalf by:

S A Carey - Director

1.	STATUTORY INFORMATION

Damon's Restaurants (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

At the year end the current liabilities of the company exceeded its current assets by £2,651,897 (2025: £2,220,971). Included in net current liabilities are balances owed to group undertakings of £3,062,801 (2025: £3,152,854). The directors have confirmed that these amounts will only be paid when the company has adequate resources to do so.

On this basis and after reviewing the company's forecasts and projections the directors are satisfied that the company has adequate resources to continue to operate for at least the next 12 months. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of operating a restaurant, exclusive of Value Added Tax. Turnover is recognised at the point of sale on a daily basis.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Freehold property

- 2% straight line

Improvements to property

- 10% straight line

Plant and machinery

- 10% reducing balance

Motor vehicles

- 25% reducing balance

Fixtures and fittings

- 10% reducing balance

Land is not depreciated.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 101 (2025 - 100 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Land and

to

Plant and

Buildings

property

machinery

£

COST OR VALUATION

At 27 January 2025

2,438,384

2,479

707,985

Additions

-

85,667

1,000

Disposals

-

(267,828

)

At 1 February 2026

2,438,384

88,146

441,157

DEPRECIATION

At 27 January 2025

522,102

-

478,427

Charge for period

21,200

1,772

8,524

Eliminated on disposal

-

(179,097

)

At 1 February 2026

543,302

1,772

307,854

NET BOOK VALUE

At 1 February 2026

1,895,082

86,374

133,303

At 26 January 2025

1,916,282

2,479

229,558

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST OR VALUATION

At 27 January 2025

402,999

35,965

3,587,812

Additions

659

-

87,326

Disposals

(156,641

)

-

(424,469

)

At 1 February 2026

247,017

35,965

3,250,669

DEPRECIATION

At 27 January 2025

324,948

34,661

1,360,138

Charge for period

3,364

243

35,103

Eliminated on disposal

(103,737

)

-

(282,834

)

At 1 February 2026

224,575

34,904

1,112,407

NET BOOK VALUE

At 1 February 2026

22,442

1,061

2,138,262

At 26 January 2025

78,051

1,304

2,227,674

Included in cost or valuation of land and buildings is freehold land of £ 878,774 (2025 - £ 878,774 ) which is not depreciated.

Analysis of the cost of freehold property using the deemed cost exemption:

2025

2024

£

Historical cost

2,183,064

2,206,877

Valuation

255,320

Deemed cost

2,438,384

2,462,197

In 2017, the property and related assets were valued by Davis Coffer Lyons (a RICS approved valuer). In their opinion, their valuation was lower than the deemed cost in the financial statements and therefore an impairment of £359,993 was made to the property and related assets to reflect this fact.

5.

DEBTORS

2026

2025

£

Amounts falling due within one year:

Trade debtors

6,909

4,484

Other debtors

995,940

990,506

1,002,849

994,990

Amounts falling due after more than one year:

Amounts owed by group undertakings

-

472,259

Other debtors

215,328

687,587

Aggregate amounts

1,218,177

1,682,577

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

283,972

229,713

Amounts owed to group undertakings

3,062,801

3,625,113

Taxation and social security

490,358

104,389

Other creditors

144,303

63,387

3,981,434

4,022,602

7.	SECURED DEBTS

The bank facilities are secured over the freehold property held within the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

1,000

Ordinary

£1

1,000

9.

RESERVES

Revaluation

reserve

£

At 27 January 2025

and 1 February 2026

196,007

10.	CONTINGENT LIABILITIES

The company is party to a bank cross guarantee and debenture with its fellow subsidiary undertakings, Damon's (Developments) Limited and Damon's Motel Limited together with it's parent undertaking Damon's (Holdings) Limited. The total bank borrowings outstanding to which this guarantee refers at 1 February 2026 amounted to £0 (2025: (£1,488)).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to the directors subsisted during the periods ended 1 February 2026 and 26 January 2025:

2026

2025

J E Foulston

£

Balance outstanding at start of period

922,069

1,056,947

Amounts advanced

324,572

205,122

Amounts repaid

(319,000)

(340,000)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

927,641

922,069

S A Carey

Balance outstanding at start of period

17,118

15,911

Amounts advanced

2,673

1,207

Amounts repaid

(10,900)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

8,891

17,118

The amount outstanding is shown within other debtors.

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

The ultimate parent undertaking is Damon's (Holdings) Limited.

The ultimate controlling party is J E Foulston.