Cafe @ Marshalls Limited - Accounts to registrar (filleted) - small 18.2
Cafe @ Marshalls Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Cafe @ Marshalls Limited |
| Financial Statements |
| for the Year Ended 31st July 2020 |
| Cafe @ Marshalls Limited (Registered number: 08623642) |
| Contents of the Financial Statements |
| for the year ended 31st July 2020 |
| Page |
| Company information | 1 |
| Balance sheet | 2 | to | 3 |
| Notes to the financial statements | 4 | to | 7 |
| Cafe @ Marshalls Limited |
| Company Information |
| for the year ended 31st July 2020 |
| Director: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Academy House |
| Shedden Park Road |
| Kelso |
| Roxburghshire |
| TD5 7AL |
| Cafe @ Marshalls Limited (Registered number: 08623642) |
| Balance Sheet |
| 31st July 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets/(liabilities) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Retained earnings |
| Shareholders' funds |
| Cafe @ Marshalls Limited (Registered number: 08623642) |
| Balance Sheet - continued |
| 31st July 2020 |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Cafe @ Marshalls Limited (Registered number: 08623642) |
| Notes to the Financial Statements |
| for the year ended 31st July 2020 |
| 1. | Statutory information |
| Cafe @ Marshalls Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end. |
| Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Office equipment | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Stocks |
| Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion. |
| Financial instruments |
| The following assets and liabilities are classified as financial instruments - accruals, bank loans, hire purchase contracts and directors' loans. |
| Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
| Directors' loans (being repayable on demand) and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
| Financial assets that are measured at 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 income and retained earnings. |
| Cafe @ Marshalls Limited (Registered number: 08623642) |
| Notes to the Financial Statements - continued |
| for the year ended 31st July 2020 |
| 2. | Accounting policies - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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 |
| 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 year 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Provisions |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter. |
| 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. |
| Going concern |
| The director has considered the company's financial position for a period of 12 months from the date of signing these financial statements and has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continue to adopt the going concern basis in preparing these financial statements. |
| Employee benefits |
| Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Cafe @ Marshalls Limited (Registered number: 08623642) |
| Notes to the Financial Statements - continued |
| for the year ended 31st July 2020 |
| 4. | Tangible fixed assets |
| Fixtures |
| Plant and | and | Motor | Office |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1st August 2019 |
| Additions |
| At 31st July 2020 |
| Depreciation |
| At 1st August 2019 |
| Charge for year |
| At 31st July 2020 |
| Net book value |
| At 31st July 2020 |
| At 31st July 2019 |
| 5. | Debtors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | Creditors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts |
| Taxation and social security |
| Other creditors |
| 7. | Creditors: amounts falling due after more than one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| 8. | Secured debts |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts | 13,145 | 20,003 |
| Hire purchase contracts are secured against the assets to which they relate. |
| Cafe @ Marshalls Limited (Registered number: 08623642) |
| Notes to the Financial Statements - continued |
| for the year ended 31st July 2020 |
| 9. | Director's advances, credits and guarantees |
| The following advances and credits to a director subsisted during the years ended 31st July 2020 and 31st July 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| This loan is unsecured and repayable on demand. No interest has been charged as the loan is below the HMRC reporting level. |