CAFFE KIX LIMITED Filleted accounts for Companies House (small and micro)

false false false false false false false false false true false false false false false true false No description of principal activity 2018-01-01 Sage Accounts Production Advanced 2019 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 03677396 2018-01-01 2018-12-31 03677396 2018-12-31 03677396 2017-12-31 03677396 2017-01-01 2017-12-31 03677396 2017-12-31 03677396 bus:Director1 2018-01-01 2018-12-31 03677396 core:WithinOneYear 2018-12-31 03677396 core:WithinOneYear 2017-12-31 03677396 core:AfterOneYear 2018-12-31 03677396 core:AfterOneYear 2017-12-31 03677396 core:ShareCapital 2018-12-31 03677396 core:ShareCapital 2017-12-31 03677396 core:RetainedEarningsAccumulatedLosses 2018-12-31 03677396 core:RetainedEarningsAccumulatedLosses 2017-12-31 03677396 bus:Director1 2017-12-31 03677396 bus:Director1 2018-12-31 03677396 bus:Director1 2016-12-31 03677396 bus:Director1 2017-12-31 03677396 bus:Director1 2017-01-01 2017-12-31 03677396 bus:SmallEntities 2018-01-01 2018-12-31 03677396 bus:AuditExemptWithAccountantsReport 2018-01-01 2018-12-31 03677396 bus:AbridgedAccounts 2018-01-01 2018-12-31 03677396 bus:SmallCompaniesRegimeForAccounts 2018-01-01 2018-12-31 03677396 bus:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31 03677396 core:LandBuildings core:LongLeaseholdAssets 2018-01-01 2018-12-31 03677396 core:FurnitureFittings 2018-01-01 2018-12-31 03677396 core:OfficeEquipment 2018-01-01 2018-12-31 03677396 core:ComputerEquipment 2018-01-01 2018-12-31

COMPANY REGISTRATION NUMBER: 03677396

CAFFE KIX LIMITED

Filleted Unaudited Abridged Financial Statements

31 December 2018

CAFFE KIX LIMITED

Abridged Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		61,084	78,707

Current assets

Stocks	91,570	89,749
Debtors	284,733	360,713
Cash at bank and in hand	229,288	146,291
	---------	---------
	605,591	596,753

Creditors: amounts falling due within one year	658,046		671,808
	---------		---------
Net current liabilities		52,455	75,055
		--------	--------
Total assets less current liabilities		8,629	3,652

Creditors: amounts falling due after more than one year	1,788	1,936
	-------	-------
Net assets	6,841	1,716
	-------	-------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	5,841	716
	-------	-------
Shareholders funds	6,841	1,716
	-------	-------

These abridged 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.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

CAFFE KIX LIMITED

Abridged Statement of Financial Position (continued)

31 December 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 25 September 2019 , and are signed on behalf of the board by:

R J Warburton
Director

Company registration number: 03677396

CAFFE KIX LIMITED

Notes to the Abridged Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 George Street, Snow Hill, Wolverhampton, WV2 4DG.

2. Accounting policies

Basis of preparation

The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.

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 .

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	Over the length of the lease on a straight line basis
Fixtures and fittings	-	Over the outstanding lease term on a straight line basis
Equipment	-	5 years on a straight line basis
Computer equipment	-	3 years on a straight line basis

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the year amounted to 93 (2017: 89 ).

4. Tangible assets

	£
Cost
At 1 January 2018	266,929
Additions	21,902
Disposals	( 95,535)
	---------
At 31 December 2018	193,296
	---------
Depreciation
At 1 January 2018	188,222
Charge for the year	39,523
Disposals	( 95,533)
	---------
At 31 December 2018	132,212
	---------
Carrying amount
At 31 December 2018	61,084
	---------
At 31 December 2017	78,707
	---------

5. Financial instruments at fair value

Financial instruments such as trade debtors, cash and trade creditors arise from the company's operations .

6. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
R J Warburton	103,858	( 103,945)	( 87)
	---------	---------	----

	2017
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
R J Warburton	184,718	( 80,860)	103,858
	---------	--------	---------

7. Related party transactions

The company was under the control of Mr R J Warburton throughout the current and previous year. Mr R J Warburton is the managing director and majority shareholder.