0
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2018-12-24
Sage Accounts Production Advanced 2020 - FRS102_2014
4,567,566
80,004
4,487,562
4,462,422
25,140
105,144
xbrli:pure
xbrli:shares
iso4217:GBP
NI014639
2018-12-24
2019-12-29
NI014639
2019-12-29
NI014639
2018-12-23
NI014639
bus:RegisteredOffice
2018-12-24
2019-12-29
NI014639
bus:LeadAgentIfApplicable
2018-12-24
2019-12-29
NI014639
bus:Agent1
2018-12-24
2019-12-29
NI014639
bus:Director1
2018-12-24
2019-12-29
NI014639
bus:Director2
2018-12-24
2019-12-29
NI014639
bus:CompanySecretary1
2018-12-24
2019-12-29
NI014639
core:AfterOneYear
2018-12-23
NI014639
core:WithinOneYear
2019-12-29
NI014639
core:WithinOneYear
2018-12-23
NI014639
core:ShareCapital
2019-12-29
NI014639
core:ShareCapital
2018-12-23
NI014639
core:CapitalRedemptionReserve
2019-12-29
NI014639
core:CapitalRedemptionReserve
2018-12-23
NI014639
core:RetainedEarningsAccumulatedLosses
2019-12-29
NI014639
core:RetainedEarningsAccumulatedLosses
2018-12-23
NI014639
core:CostValuation
core:Non-currentFinancialInstruments
2018-12-23
NI014639
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2019-12-29
NI014639
core:CostValuation
core:Non-currentFinancialInstruments
2019-12-29
NI014639
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2019-12-29
NI014639
core:Non-currentFinancialInstruments
2019-12-29
NI014639
core:Non-currentFinancialInstruments
2018-12-23
NI014639
bus:Director1
2018-12-23
NI014639
bus:Director1
2017-12-24
NI014639
bus:SmallEntities
2018-12-24
2019-12-29
NI014639
bus:Audited
2018-12-24
2019-12-29
NI014639
bus:FullAccounts
2018-12-24
2019-12-29
NI014639
bus:SmallCompaniesRegimeForAccounts
2018-12-24
2019-12-29
NI014639
bus:PrivateLimitedCompanyLtd
2018-12-24
2019-12-29
COMPANY REGISTRATION NUMBER:
NI014639
Herbel Restaurants Limited
|
|
Filleted Financial Statements
|
|
Herbel Restaurants Limited
|
|
Period from 24 December 2018 to 29 December 2019
Officers and professional advisers
|
1
|
|
|
Statement of financial position
|
2
|
|
|
Notes to the financial statements
|
3 to 6
|
|
|
Herbel Restaurants Limited
|
|
Officers and Professional Advisers
|
|
The board of directors
|
Mr M A Herbert
|
|
Mrs L E Herbert
|
|
|
Company secretary
|
Mr M A Herbert
|
|
|
Registered office
|
Aisling House
|
|
50 Stranmillis Embankment
|
|
Belfast
|
|
BT9 5FL
|
|
|
Auditor
|
Maneely Mc Cann
|
|
Chartered Accountants & Statutory Auditors
|
|
Aisling House
|
|
50 Stranmillis Embankment
|
|
Belfast
|
|
BT9 5FL
|
|
|
Bankers
|
Bank of Ireland
|
|
1 Donegall Square South
|
|
Belfast
|
|
BT1 5LR
|
|
|
|
Danske Bank
|
|
Donegall Square West
|
|
Belfast
|
|
BT1 6JS
|
|
|
Solicitors
|
DWF (Northern Ireland) LLP
|
|
Jefferson House
|
|
42 Queen Street
|
|
Belfast
|
|
BT1 6HL
|
|
|
Herbel Restaurants Limited
|
|
Statement of Financial Position
|
|
29 December 2019
|
29 Dec 19
|
23 Dec 18
|
Note
|
£
|
£
|
£
|
|
|
|
|
Fixed assets
Investments
|
4
|
|
25,140
|
105,144
|
|
|
|
|
|
Current assets
Debtors
|
5
|
72,178
|
|
–
|
Cash at bank and in hand
|
1,776
|
|
13,763
|
|
--------
|
|
--------
|
|
73,954
|
|
13,763
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
960,179
|
|
954,679
|
|
---------
|
|
---------
|
Net current liabilities
|
|
886,225
|
940,916
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
(
861,085)
|
(
835,772)
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
7
|
|
–
|
3,612,662
|
|
|
---------
|
------------
|
Net liabilities
|
|
(
861,085)
|
(
4,448,434)
|
|
|
---------
|
------------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
177,500
|
177,500
|
Capital redemption reserve
|
|
322,500
|
322,500
|
Profit and loss account
|
|
(
1,361,085)
|
(
4,948,434)
|
|
|
------------
|
------------
|
Shareholders deficit
|
|
(
861,085)
|
(
4,448,434)
|
|
|
------------
|
------------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
21 September 2020
, and are signed on behalf of the board by:
Company registration number:
NI014639
Herbel Restaurants Limited
|
|
Notes to the Financial Statements
|
|
Period from 24 December 2018 to 29 December 2019
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Aisling House, 50 Stranmillis Embankment, Belfast, BT9 5FL.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These financial statements have been prepared on the going concern basis, notwithstanding the fact that the company had net current liabilities of £886,225 and a net shareholder's deficit of £861,085 at the balance sheet date. The company, along with other members of the group, have the necessary cash cover to meet its ongoing non-secured creditor obligations and liabilities for the foreseeable future. In light of the above, the director considers it appropriate to prepare the financial statements on on going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Exceptional items
Exceptional items are disclosed separately in the financial statements in order to provide further understanding of the financial performance of the entity. They are material items of income or expense that have been shown separately because of their nature or amount.
Income tax
Corporation tax is calculated on the results for the period. Tax deferred as a result of timing differences between accounting and taxation profits is provided for in full in respect of deferred tax liabilities with the exception of differences arising from the revaluation of fixed assets, where there is no binding agreement to sell the asset at the balance sheet date and where the gain or loss on such a sale has not been recognised in the financial statements. The provision is made at the taxation rates at which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax assets are recognised to the extent that they are regarded as recoverable. Tax arising on the sale of revalued assets is allocated on a pro rata basis between any gain reported in the profit and loss account and the revaluation gains reported previously in the statement of total recognised gains and losses.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A
financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Investments
|
Shares in group undertakings
|
|
£
|
Cost
|
|
At 24 December 2018
|
4,567,566
|
Disposals
|
(
80,004)
|
|
------------
|
At 29 December 2019
|
4,487,562
|
|
------------
|
Impairment
|
|
At 24 December 2018 and 29 December 2019
|
4,462,422
|
|
------------
|
|
|
Carrying amount
|
|
At 29 December 2019
|
25,140
|
|
------------
|
At 23 December 2018
|
105,144
|
|
------------
|
|
|
5.
Debtors
|
29 Dec 19
|
23 Dec 18
|
|
£
|
£
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
72,178
|
–
|
|
--------
|
----
|
|
|
|
6.
Creditors:
amounts falling due within one year
|
29 Dec 19
|
23 Dec 18
|
|
£
|
£
|
Social security and other taxes
|
5,500
|
–
|
Other creditors
|
954,679
|
954,679
|
|
---------
|
---------
|
|
960,179
|
954,679
|
|
---------
|
---------
|
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
29 Dec 19
|
23 Dec 18
|
|
£
|
£
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest
|
–
|
3,612,662
|
|
----
|
------------
|
|
|
|
8.
Summary audit opinion
The auditor's report for the period dated
26 June 2019
was unqualified
.
An Emphasis of Matter paragraph was included in relation to Going Concern:
Material uncertainty related to going concern
We draw attention to note 3 in the financial statements, which indicates that the accounts have been prepared on a going concern basis, the validity of which depends on the continued support of the other group companies and the group's bankers. The financial statements do not include any adjustments which would result if this continued support was not secured. As stated in note 3, these events or conditions, along with the other matters as set forth in note 3, 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.
The Senior Statutory Auditor was
Cathal Maneely
, for and on behalf of Maneely McCann
.
9.
Director's advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
|
Balance brought forward and outstanding
|
|
29 Dec 19
|
23 Dec 18
|
|
£
|
£
|
Mr M A Herbert
|
(
20,195)
|
(
20,195)
|
|
--------
|
--------
|
|
|
|
10.
Related party transactions
Control The company is a wholly owned subsidiary of Herbel Limited, a company incorporated in Northern Ireland. Herbel Limited is a wholly owned subsidiary of Banner Dell Limited, a company incorporated in England and Wales which is a wholly owned subsidiary of Herbert Corporate Holdings Limited, a company incorporated in Northern Ireland.
Mrs L E Herbert
is the shareholder of Herbert Corporate Holdings Limited and as such is considered to be the ultimate controlling party of the company. Transactions The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, Section 33, Related Party Disclosures.
11.
Controlling party
Herbert Corporate Holdings Limited
is the company's ultimate parent company. Copies of consolidated financial statements may be obtained from Lesley House, 605 Lisburn Road, Belfast, BT9 7GS.