Natter Cafe Limited - Period Ending 2020-03-31
Natter Cafe Limited - Period Ending 2020-03-31
Registration number:
Natter Cafe Limited
for the Year Ended 31 March 2020
Natter Cafe Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Natter Cafe Limited
Company Information
Directors |
M T Oakes Mrs K J Oakes |
Registered office |
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Accountants |
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Natter Cafe Limited
(Registration number: 09903107)
Balance Sheet as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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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 |
6 |
6 |
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Profit and loss account |
(26,402) |
(31,216) |
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Total equity |
(26,396) |
(31,210) |
For the financial year ending 31 March 2020 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 has been taken.
Approved and authorised by the
Director
Natter Cafe Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
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
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
The amount due is a loan balance that has no formal terms, is interest free and repayable on demand..
Going concern
We have paid particular attention to the likely effects on the business of the current Covid-19 outbreak
and the directors remain confident that sufficient funding is in place and that the company has adequate
resources to enable the company to continue as a going concern for the foreseeable future.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Natter Cafe Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the statement of financial position 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, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold improvements |
over the lease term / 10 years |
Catering equipment |
33% SL |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Natter Cafe Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Tangible assets |
Leasehold improvements |
Catering equipment |
Total |
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Cost or valuation |
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At 1 April 2019 |
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
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- |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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- |
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At 31 March 2019 |
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- |
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Stocks |
2020 |
2019 |
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Other inventories |
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Debtors |
2020 |
2019 |
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Trade debtors |
- |
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Prepayments |
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Other debtors |
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Natter Cafe Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2020
Creditors |
2020 |
2019 |
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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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Accruals and deferred income |
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Other creditors |
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Director current account |
104,066 |
104,275 |
Corporation tax |
1,200 |
- |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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6 |
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6 |
Related party transactions |
Expenditure with and payables to related parties
2020 |
Key management |
Amounts payable to related party |
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2019 |
Key management |
Amounts payable to related party |
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The amount due is a loan balance that has no formal terms, is interest free and repayable on demand.