Kind Cafe & Bars Ltd 30/11/2023 iXBRL

KIND CAFE & BARS LTD - Company Information

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Company registration number: 11062422

Kind Cafe & Bars Ltd

Unaudited filleted financial statements

30 November 2023

Kind Cafe & Bars Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Kind Cafe & Bars Ltd

Directors and other information


	Directors	L C Norton
		J H Swire


	Company number	11062422


	Registered office	15 Miller Arcade
		Preston
		Lancashire
		PR1 2QY


	Business address	15 Miller Arcade
		Preston
		Lancashire
		PR1 1LD


	Accountants	Turner and Brown Limited
		105 Garstang Road
		Preston
		Lancashire
		PR1 1LD

Kind Cafe & Bars Ltd

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Kind Cafe & Bars Ltd

Year ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kind Cafe & Bars Ltd for the year ended 30 November 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the board of directors of Kind Cafe & Bars Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Kind Cafe & Bars Ltd and state those matters that we have agreed to state to the board of directors of Kind Cafe & Bars Ltd as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kind Cafe & Bars Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Kind Cafe & Bars Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kind Cafe & Bars Ltd. You consider that Kind Cafe & Bars Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kind Cafe & Bars Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Turner and Brown Limited

Chartered Accountants

105 Garstang Road

Preston

Lancashire

PR1 1LD

Kind Cafe & Bars Ltd

Statement of financial position

30 November 2023

		2023		2022
	Note	£	£	£	£

Fixed assets
Tangible assets	5	201,191		239,498
		_______		_______
			201,191		239,498

Current assets
Debtors	6	77,307		92,208
Cash at bank and in hand		168,496		121,093
		_______		_______
		245,803		213,301
Creditors: amounts falling due
within one year	7	( 103,408)		( 124,081)
		_______		_______
Net current assets			142,395		89,220
			_______		_______
Total assets less current liabilities			343,586		328,718

Creditors: amounts falling due
after more than one year	8		( 12,000)		( 20,000)

Provisions for liabilities			( 38,269)		( 33,405)

			_______		_______
Net assets			293,317		275,313
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			293,315		275,311
			_______		_______
Shareholders funds			293,317		275,313
			_______		_______

For the year ending 30 November 2023 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.

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 statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 May 2024 , and are signed on behalf of the board by:

L C Norton J H Swire

Director Director

Company registration number: 11062422

Kind Cafe & Bars Ltd

Notes to the financial statements

Year ended 30 November 2023

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Rise., 15 Miller Arcade, Preston, Lancashire, PR1 2QY.

2. Statement of compliance

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

Turnover

Revenue from sales is recognised, net of any applicable VAT, when the services and goods are supplied to customers creating a legal obligation to pay for the relevant supply.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Short leasehold property	-	20 %	straight line
Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20% reducing balance (33.3% on computer equipment)
Motor vehicles	-	25 %	reducing balance

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

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are 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 are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

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 in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 20 (2022: 21 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 December 2022	85,424	54,611	78,358	97,545	315,938
Additions	1,630	8,976	10,155	-	20,761
	_______	_______	_______	_______	_______
At 30 November 2023	87,054	63,587	88,513	97,545	336,699
	_______	_______	_______	_______	_______
Depreciation
At 1 December 2022	21,745	15,325	20,139	19,232	76,441
Charge for the year	17,194	9,365	12,930	19,578	59,067
	_______	_______	_______	_______	_______
At 30 November 2023	38,939	24,690	33,069	38,810	135,508
	_______	_______	_______	_______	_______
Carrying amount
At 30 November 2023	48,115	38,897	55,444	58,735	201,191
	_______	_______	_______	_______	_______
At 30 November 2022	63,679	39,286	58,219	78,313	239,497
	_______	_______	_______	_______	_______

6. Debtors

	2023	2022
	£	£
Other debtors	77,307	92,208
	_______	_______

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	8,000	8,000
Trade creditors	9,536	19,307
Taxation and social security	54,086	35,182
Other creditors	31,786	61,592
	_______	_______
	103,408	124,081
	_______	_______

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	12,000	20,000
	_______	_______

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2023
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	L C Norton	( 22,087)	74,559	( 44,963)	7,509
	J H Swire	( 21,525)	76,008	( 54,643)	( 160)
		_______	_______	_______	_______
		( 43,612)	150,567	( 99,606)	7,349
		_______	_______	_______	_______

These loans were interest free and repayable on demand.

10. Related party transactions

At commencement of the period the company had a £89,306 credit balance with Rise Cafe Ltd, a company controlled by the directors. During the year the company advanced further amounts of £2,306 and was repaid £103,336.The company raised charges for equipment hire and management fees of £54, 000 + VAT. No payments were received in the year in respect of this. Consequently the balance of this loan at the reporting date was £11,724. This loan was interest free and repayable on demand.

During the year the company made loans to Rise Coffee Preston Ltd, a company controlled by the directors. The balance of this loan at the reporting date was debit balance of £11,356. This loan was interest free and repayable on demand.

11. Controlling party

The company is controlled by the directors.