Cafe Ascari Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05057598 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

Cafe Ascari Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Directors:

N R Vaughan

Mrs R J Vaughan

Registered office:

13 West Street

Hereford

HR4 0BX

Registered number:

05057598 (England and Wales)

Accountants:

Acre Accountancy Limited

Unit 2 Foley Works

Foley Industrial Estate

Hereford

Herefordshire

HR1 2SF

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

504,274

492,529

504,274

492,529

CURRENT ASSETS

Stocks

5,859

2,181

Debtors

4,336

520

Cash at bank and in hand

15,883

479

26,078

3,180

CREDITORS

Amounts falling due within one year

(177,464

)

(186,145

)

NET CURRENT LIABILITIES

(151,386

)

(182,965

)

TOTAL ASSETS LESS CURRENT LIABILITIES

352,888

309,564

CREDITORS

Amounts falling due after more than one year

7

(178,295

)

(189,208

)

PROVISIONS FOR LIABILITIES

(6,002

)

(3,515

)

NET ASSETS

168,591

116,841

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

168,491

116,741

SHAREHOLDERS' FUNDS

168,591

116,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 June 2022 and were signed on its behalf by:

N R Vaughan - Director

1.	STATUTORY INFORMATION

Cafe Ascari 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the net invoiced services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

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.

Improvements to property

-

10% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

20% on reducing balance

Government grants

Government grants are classified as either capital or revenue. Capital grants are credited to a deferral account and released to the profit and loss account at the same rate as the related asset is depreciated.

Grants of a revenue nature are recognised using the accrual model so that the grant income, that represents compensation for past expenditure or losses, is recognised in the same period as it becomes receivable.

The COVID-19 pandemic prompted a number of revenue grants that are intended to subsidise expenditure and losses incurred. These have been recognised as other operating income.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 10 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

Cost

At 1 May 2021

and 30 April 2022

200,250

Amortisation

At 1 May 2021

and 30 April 2022

200,250

Net book value

At 30 April 2022

-

At 30 April 2021

-

6.	TANGIBLE FIXED ASSETS

Totals

£

Cost

At 1 May 2021

527,642

Additions

38,912

Disposals

(28,460

)

At 30 April 2022

538,094

Depreciation

At 1 May 2021

35,113

Charge for year

8,953

Eliminated on disposal

(10,246

)

At 30 April 2022

33,820

Net book value

At 30 April 2022

504,274

At 30 April 2021

492,529

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2022

2021

£

£

Repayable by instalments

Bank loans payable after more than 5 years by instalments

25,000

-

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2022

2021

£

£

Net obligations repayable:

Within one year

3,798

4,543

Between one and five years

15,120

13,237

18,918

17,780

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100