Caffe Bar Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03797214 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

FOR

CAFFE BAR LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

V C Polledri

A G L Polledri

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

03797214 (England and Wales)

ACCOUNTANTS:

Pittalis Gilchrist LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Intangible assets

4

34,380

42,380

Tangible assets

5

4,589

4,577

38,969

46,957

CURRENT ASSETS

Stocks

20,300

16,750

Debtors

6

348,878

387,263

Cash at bank and in hand

710

3,490

369,888

407,503

CREDITORS

Amounts falling due within one year

7

346,378

393,753

NET CURRENT ASSETS

23,510

13,750

TOTAL ASSETS LESS CURRENT LIABILITIES

62,479

60,707

PROVISIONS FOR LIABILITIES

8

870

870

NET ASSETS

61,609

59,837

CAPITAL AND RESERVES

Called up share capital

9

300

300

Retained earnings

61,309

59,537

SHAREHOLDERS' FUNDS

61,609

59,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2021 and were signed on its behalf by:

A G L Polledri - Director

1.	STATUTORY INFORMATION

Caffe Bar Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents sales of services net of VAT and trade discounts. Turnover is recognised when the services are provided to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of 20 years.Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

Straight line over 10 years

Stocks

Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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.

Cash and cash equivalent

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Government grants

Government grants are accounted for under the accrual model. The accrual model requires a grant to be classified as either a ‘revenue-based’ grant or a ‘capital-based’ grant. As a result of Covid-19 grants received from the Government have been treated as revenue-based, the grants are recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2019 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2019

and 31 August 2020

82,663

AMORTISATION

At 1 September 2019

40,283

Charge for year

8,000

At 31 August 2020

48,283

NET BOOK VALUE

At 31 August 2020

34,380

At 31 August 2019

42,380

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2019

16,982

Additions

1,156

At 31 August 2020

18,138

DEPRECIATION

At 1 September 2019

12,405

Charge for year

1,144

At 31 August 2020

13,549

NET BOOK VALUE

At 31 August 2020

4,589

At 31 August 2019

4,577

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade debtors

17,233

(4,766

)

Amounts owed by group undertakings

331,645

368,952

Other debtors

-

23,077

348,878

387,263

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade creditors

120,639

104,289

Amounts owed to group undertakings

113,374

104,404

Taxation and social security

109,747

184,384

Other creditors

2,618

676

346,378

393,753

8.	PROVISIONS FOR LIABILITIES

31.8.20

31.8.19

£

£

Deferred tax

Accelerated capital allowances

870

870

Deferred

tax

£

Balance at 1 September 2019

870

Balance at 31 August 2020

870

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.20

31.8.19

value:

£

£

300

Ordinary

1

300

300

10.	RELATED PARTY DISCLOSURES

Debtors include £331,645 (2019 - £368,952) funds owed by Pa Nino's Limited, a company under the same control as Caffe Bar Limited.

Creditors include £113,374 (2019 - £104,404) funds owed to a related company, Bar Italia (Holdings) Limited. This company is under the same control as Caffe Bar Limited.

11.	POST BALANCE SHEET EVENTS

The directors have taken adequate measures to combat the impact of Covid-19 on the business such as repayment holidays on existing loans and taking advantage of government support schemes such as the Coronavirus job retention scheme.

The coffee bar traded well when it reopened and despite the impact of Covid - 19 management has determined that the actions that it has taken are sufficient to mitigate any uncertainty.