CAFFE KIX LIMITED Filleted accounts for Companies House (small and micro)
CAFFE KIX LIMITED Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
03677396
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Abridged Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
4 |
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Current assets
Stocks |
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Debtors |
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Cash at bank and in hand |
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--------- |
--------- |
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Creditors: amounts falling due within one year |
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--------- |
--------- |
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Net current assets/(liabilities) |
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(
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-------- |
-------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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– |
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-------- |
-------- |
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Net assets |
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-------- |
-------- |
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Capital and reserves
Called up share capital |
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Profit and loss account |
(
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------- |
-------- |
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Shareholders funds |
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------- |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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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
;
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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
.
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Abridged Statement of Financial Position (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 September 2021
, and are signed on behalf of the board by:
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Director |
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Company registration number:
03677396
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Notes to the Abridged Financial Statements |
Year ended 31 December 2020
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
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
Income tax
Foreign currencies
Tangible assets
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 and associated legal fees |
- |
Over the length of the lease on a straight line basis |
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Fixtures and fittings |
- |
Over the outstanding lease term on a straight line basis |
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Equipment |
- |
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Computer equipment |
- |
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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
Government grants
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
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
85
(2019:
98
).
4.
Tangible assets
£ |
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Cost |
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At 1 January 2020 |
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Additions |
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Disposals |
(
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--------- |
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At 31 December 2020 |
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--------- |
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Depreciation |
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At 1 January 2020 |
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Charge for the year |
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Disposals |
(
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--------- |
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At 31 December 2020 |
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--------- |
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Carrying amount |
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At 31 December 2020 |
43,547 |
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At 31 December 2019 |
61,855 |
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5.
Financial instruments
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:
2020 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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---- |
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2019 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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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.