Registration number:
Year Ended
The Five Fields Restaurant Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
The Five Fields Restaurant Limited
Company Information
Directors |
J G Bonnyman J W T Bonnyman |
Registered office |
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Solicitors |
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The Five Fields Restaurant Limited
(Registration number: 07403074)
Balance Sheet as at 31 March 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
The Five Fields Restaurant Limited
(Registration number: 07403074)
Balance Sheet as at 31 March 2021
Approved and authorised by the
.........................................
J G Bonnyman
Director
The Five Fields Restaurant Limited
Statement of Changes in Equity
Year Ended 31 March 2021
Share capital |
Profit and loss account |
Total |
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At 1 April 2020 |
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( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 March 2021 |
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( |
( |
Share capital |
Profit and loss account |
Total |
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At 1 April 2019 |
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( |
( |
Loss for the year |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 31 March 2020 |
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( |
( |
The Five Fields Restaurant Limited
Notes to the Financial Statements
Year Ended 31 March 2021
General information |
The company is a private company limited by share capital incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
8-9 Blacklands Terrace
London
SW3 2SP
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention except for investments which are recorded at fair value.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis.
The impact of the COVID-19 pandemic on the ability of the company to continue as a going concern has been assessed by the directors. Since the outbreak, the directors have taken a number of measures to monitor and mitigate the effects of COVID-19, including appropriate health and safety measures for all staff and customers to ensure the restaurant is run in the best and safest way possible. The company has continued to trade when possible in line with government policies and guidelines, but has experienced a reduction in sales, largely due to the lockdown restrictions.
The directors confirm that they will not recall their loans and will provide further financial support where necessary until at least 12 months after the date the financial statements are approved, unless alternative financing is available.
The Five Fields Restaurant Limited
Notes to the Financial Statements
Year Ended 31 March 2021
Revenue recognition
Turnover comprises the fair value of the consideration received, net of value added tax.
Turnover relates to income received from customers who eat and drink in the restaurant and is recognised on the day the event occurs. Turnover received in advance (deposits or gift cards) is held as a liability on the balance sheet until the customer eats or drinks in the restaurant or the gift card expires.
Government grants
Government grant income relating to the Coronavirus Job Retention Scheme, Additional Restrictions Support Grant and the Restart Grant are recognised in other operating income in the period in which the relevant expense is incurred.
Foreign currency transactions and balances
Tax
The current 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.
Tangible assets
Tangible assets are stated 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 over their estimated useful lives as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% straight line |
Fixtures and fittings |
10% straight line |
Motor vehicles |
20% straight line |
Office equipment |
25% straight line |
Investments
Investments which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit and loss.
Dividends on equity securities are included in income when receivable. Interest receivable from listed fixed interest securities is recognised in the period to which it relates.
Stocks
Stock is valued at the lower of cost and net realisable value after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
The Five Fields Restaurant Limited
Notes to the Financial Statements
Year Ended 31 March 2021
Borrowings
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Staff numbers |
The average number of persons employed by the company during the year, was
Tangible assets |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2020 |
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Additions |
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- |
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At 31 March 2021 |
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Depreciation |
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At 1 April 2020 |
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Charge for the year |
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- |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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- |
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At 31 March 2020 |
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- |
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The Five Fields Restaurant Limited
Notes to the Financial Statements
Year Ended 31 March 2021
Investments |
Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2020 |
10,965,403 |
10,965,403 |
Additions |
3,499,809 |
3,499,809 |
Fair value adjustments |
(197,805) |
(197,805) |
Disposals |
(3,645,569) |
(3,645,569) |
At 31 March 2021 |
10,621,838 |
10,621,838 |
Carrying amount |
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At 31 March 2021 |
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10,621,838 |
At 31 March 2020 |
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10,965,403 |
The financial assets have a market value at 31 March 2021 of £10,621,838 (2020 - £10,965,403) and a historic cost of £10,778,968 (2020 - £10,839,423).
Stocks |
2021 |
2020 |
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Consumables - drink |
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Debtors |
2021 |
2020 |
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Other debtors |
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The Five Fields Restaurant Limited
Notes to the Financial Statements
Year Ended 31 March 2021
Creditors |
2021 |
2020 |
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Due within one year |
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Trade creditors |
- |
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Taxation and social security |
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Other creditors |
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Creditors amounts falling due within one year includes the director's loan balance on which security over the company's assets has been given to the amount of £8,400,000 (2020 - £8,400,000).
Related party transactions |
Transactions with directors
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