Caffe Bar Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03797214 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2023

for

CAFFE BAR LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

V C Polledri

A G L Polledri

L P Polledri

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

03797214 (England and Wales)

ACCOUNTANTS:

K J Pittalis and Partners LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Intangible assets

4

10,380

18,380

Tangible assets

5

1,649

2,581

12,029

20,961

CURRENT ASSETS

Stocks

40,650

36,050

Debtors

6

1,099,291

598,734

Cash at bank and in hand

10,913

15,347

1,150,854

650,131

CREDITORS

Amounts falling due within one year

7

801,376

563,011

NET CURRENT ASSETS

349,478

87,120

TOTAL ASSETS LESS CURRENT LIABILITIES

361,507

108,081

CREDITORS

Amounts falling due after more than one year

8

(32,099

)

(42,094

)

PROVISIONS FOR LIABILITIES

(870

)

(870

)

NET ASSETS

328,538

65,117

CAPITAL AND RESERVES

Called up share capital

10

300

300

Retained earnings

328,238

64,817

SHAREHOLDERS' FUNDS

328,538

65,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:

A G L Polledri - Director

1.	STATUTORY INFORMATION

Caffe Bar 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 sales of services net of VAT and trade discounts. Turnover is recognised when the services are provided to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of 20 years.Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

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.

Fixtures and fittings

-

Straight line over 10 years

Stocks

Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalent

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Government grants

Government grants are accounted for under the accrual model. The accrual model requires a grant to be classified as either a ‘revenue-based’ grant or a ‘capital-based’ grant. As a result of Covid-19 grants received from the Government have been treated as revenue-based, the grants are recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2022

and 31 August 2023

82,663

AMORTISATION

At 1 September 2022

64,283

Charge for year

8,000

At 31 August 2023

72,283

NET BOOK VALUE

At 31 August 2023

10,380

At 31 August 2022

18,380

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2022

and 31 August 2023

18,138

DEPRECIATION

At 1 September 2022

15,557

Charge for year

932

At 31 August 2023

16,489

NET BOOK VALUE

At 31 August 2023

1,649

At 31 August 2022

2,581

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/23

31/8/22

£

£

Trade debtors

2,598

5,053

Amounts owed by group undertakings

1,091,616

575,869

Other debtors

5,077

17,812

1,099,291

598,734

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/23

31/8/22

£

£

Trade creditors

184,267

188,040

Amounts owed to group undertakings

-

20,675

Taxation and social security

609,272

323,641

Other creditors

7,837

30,655

801,376

563,011

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/8/23

31/8/22

£

£

Bank loans (see note 9)

32,099

42,094

9.

LOANS

An analysis of the maturity of loans is given below:

31/8/23

31/8/22

£

£

Amounts falling due between one and two years:

Bounce back loan

32,099

42,094

An unsecured loan of £50,000 was taken out in September 2020 under the Bounce Back Loan Scheme. This is a government backed loan and interest is paid by the government for the first year, with 2.5% charged annually thereafter. Capital repayments started in October 2021 and the loan will be repaid in equal capital instalments across 6 years with the final payment in August 2027.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/23

31/8/22

value:

£

£

300

Ordinary

1

300

300

11.	RELATED PARTY DISCLOSURES

Debtors include £925,656 (2022 - £575,869 ) funds owed by Pa Nino's Limited and £165,960 (2022 - £20,675 cr) funds owed by Bar Italia (Holdings) Limited, companies under the same control as Caffe Bar Limited.