Le Cafe Crepe Limited Filleted accounts for Companies House (small and micro)

LE CAFE CREPE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06418472

Le Cafe Crepe Limited

Unaudited financial statements

For the year ended

28 February 2021

Le Cafe Crepe Limited

Statement of financial position

28 February 2021

	2021		2020
Note	£	£	£	£

Fixed assets

Intangible assets	5	230	372
Tangible assets	6	56,579	85,609
		-------	-------
		56,809	85,981

Current assets

Stocks		3,000	2,500
Debtors	7	17,938	18,474
Cash at bank and in hand		20,494	4,272
		-------	-------
		41,432	25,246

Creditors: Amounts falling due within one year	8	( 51,273)		( 83,724)
		-------		-------
Net current liabilities			( 9,841)		( 58,478)
			-------		-------
Total assets less current liabilities			46,968		27,503

Creditors: Amounts falling due after more than one year	9		( 21,910)		( 5,417)

Provisions

Taxation including deferred tax	( 6,266)	( 11,338)
	-------	-------
Net assets	18,792	10,748
	-------	-------

Capital and reserves

Called up share capital	10	10
Profit and loss account	18,782	10,738
	-------	-------
Shareholders funds	18,792	10,748
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Le Cafe Crepe Limited

Statement of financial position (continued)

28 February 2021

These financial statements were approved by the board of directors and authorised for issue on 16 November 2021 , and are signed on behalf of the board by:

Ms S J Vipers

Director

Company registration number: 06418472

Le Cafe Crepe Limited

Notes to the financial statements

Year ended 28 February 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lovewell Blake LLP, Excelsior House, 9 Quay View Business Park, Barnards Way, Lowestoft, Suffolk, NR32 2HD, United Kingdom. The principle trading address of the company is Beccles Heliport, Benacre Road, Ellough, Suffolk, NR34 7XD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Other intangible assets	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Improvements to leasehold property	-	10% straight line
Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of employees during the year was 9 (2020: 12 ).

5. Intangible assets

	Other intangible assets
	£
Cost
At 1 March 2020 and 28 February 2021	709
	----
Amortisation
At 1 March 2020	337
Charge for the year	142
	----
At 28 February 2021	479
	----
Carrying amount
At 28 February 2021	230
	----
At 29 February 2020	372
	----

6. Tangible assets

	Improvements to leasehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 March 2020	21,567	189,916	79,359	9,512	300,354
Additions	–	405	–	328	733
Disposals	–	–	( 12,642)	–	( 12,642)
	-------	---------	-------	------	---------
At 28 February 2021	21,567	190,321	66,717	9,840	288,445
	-------	---------	-------	------	---------
Depreciation
At 1 March 2020	1,747	147,860	56,560	8,578	214,745
Charge for the year	2,157	10,615	15,094	737	28,603
Disposals	–	–	( 11,482)	–	( 11,482)
	-------	---------	-------	------	---------
At 28 February 2021	3,904	158,475	60,172	9,315	231,866
	-------	---------	-------	------	---------
Carrying amount
At 28 February 2021	17,663	31,846	6,545	525	56,579
	-------	---------	-------	------	---------
At 29 February 2020	19,820	42,056	22,799	934	85,609
	-------	---------	-------	------	---------

7. Debtors

	2021	2020
	£	£
Trade debtors	5,583	4,621
Other debtors	12,355	13,853
	-------	-------
	17,938	18,474
	-------	-------

8. Creditors: Amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	5,000	13,354
Trade creditors	18,432	26,468
Social security and other taxes	9,881	15,070
Other creditors	17,960	28,832
	-------	-------
	51,273	83,724
	-------	-------

9. Creditors: Amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	20,000	–
Other creditors	1,910	5,417
	-------	------
	21,910	5,417
	-------	------