La Cave Dorset Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10703962 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

LA CAVE DORSET LIMITED

TRADING AS

MAISON SAX

Page

Balance sheet

1

Notes to the financial statements

3

Fixed assets

Intangible assets

4

7,493

8,564

Tangible assets

5

810,453

762,123

817,946

770,687

Current assets

Stocks

4,616

5,745

Debtors

6

192,648

168,959

Cash at bank and in hand

413

4,980

197,677

179,684

Creditors

Amounts falling due within one year

7

787,970

616,422

Net current liabilities

(590,293

)

(436,738

)

Total assets less current liabilities

227,653

333,949

Creditors

Amounts falling due after more than one year

8

42,008

-

Net assets

185,645

333,949

Capital and reserves

Called up share capital

10

1,065

1,065

Share premium

644,877

644,877

Retained earnings

(460,297

)

(311,993

)

Shareholders' funds

185,645

333,949

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2021 and were signed by:

Mr E Bebb - Director

1.	Statutory information

La Cave Dorset Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10703962. The registered office address is 7&8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is 20 Britannia Road, Poole, Dorset, BH14 8BB.

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 amounts receivable, excluding value added tax, in respect of services provided in the ordinary course of business. Turnover is recognised when the service has been provided to the customer.

Intangible assets

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

Website development costs are being amortised over its estimated useful life of 10 years.

Tangible fixed assets

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

Leasehold improvements

-

Over the term of the lease

Fixtures, fittings & equipment

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Government grants

Using the accruals basis, government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, shall be recognised in income in the period in which it becomes receivable.

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 24 (2020 - 27 ) .

4.	Intangible fixed assets

Website

£

Cost

At 1 April 2020

and 31 March 2021

10,705

Amortisation

At 1 April 2020

2,141

Amortisation for year

1,071

At 31 March 2021

3,212

Net book value

At 31 March 2021

7,493

At 31 March 2020

8,564

5.	Tangible fixed assets

Fixtures,

Leasehold

fittings

Office

improvements

& equipment

equipment

Totals

£

£

£

£

Cost

At 1 April 2020

721,641

189,615

4,040

915,296

Additions

116,686

4,687

558

121,931

Disposals

-

(4,200

)

-

(4,200

)

At 31 March 2021

838,327

190,102

4,598

1,033,027

Depreciation

At 1 April 2020

71,113

80,293

1,767

153,173

Charge for year

42,619

27,912

708

71,239

Eliminated on disposal

-

(1,838

)

-

(1,838

)

At 31 March 2021

113,732

106,367

2,475

222,574

Net book value

At 31 March 2021

724,595

83,735

2,123

810,453

At 31 March 2020

650,528

109,322

2,273

762,123

6.

Debtors: amounts falling due within one year

2021

2020

as restated

£

£

Other debtors

144,330

144,330

Prepayments

48,318

24,629

192,648

168,959

7.

Creditors: amounts falling due within one year

2021

2020

as restated

£

£

Bank loans and overdrafts

27,535

-

Other loans

358,311

354,687

Trade creditors

231,393

100,502

Social security and other taxes

123,944

77,286

VAT

34,125

73,219

Other creditors

956

3,996

Accruals and deferred income

11,706

6,732

787,970

616,422

8.

Creditors: amounts falling due after more than one year

2021

2020

as restated

£

£

Bank loans - 1-2 years

9,757

-

Bank loans - 2-5 years

30,514

-

Bank loans more 5 yr by instal

1,737

-

42,008

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,737

-

9.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

as restated

£

£

Within one year

90,000

90,000

Between one and five years

360,000

360,000

In more than five years

1,080,000

1,170,000

1,530,000

1,620,000

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

as restated

£

£

1,065

Ordinary

£1

1,065

1,065

11.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

as restated

£

£

Mr D E Sax

Balance outstanding at start of year

-

82,149

Amounts advanced

-

62,181

Amounts repaid

-

(144,330

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

During the previous year, Mr D Sax's directorship with the company ended. At this point, Mr D Sax's balance was transferred to Other Debtors.

12.	Ultimate controlling party

The company is controlled by the shareholders. However, there is no one individual who is deemed to have ultimate control of the company.