Night Hot Cafe Limited Filleted accounts for Companies House (small and micro)

NIGHT HOT CAFE LTD - Company Information

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COMPANY REGISTRATION NUMBER: 08944763

NIGHT HOT CAFE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2018

NIGHT HOT CAFE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

NIGHT HOT CAFE LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	Mr K Roberts

Registered office	168 Church Road
	Hove
	East Sussex
	BN3 2DL

Accountants	UHY Hacker Young
	Chartered Accountants
	168 Church Road
	Hove
	BN3 2DL

NIGHT HOT CAFE LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2018

	2018		2017
Note	£	£	£

Fixed assets

Intangible assets	5	131,762	153,456
Tangible assets	6	27,143	33,756
		----------	----------
		158,905	187,212

Current assets

Stocks		7,214	5,441
Debtors	7	43,250	42,729
Cash at bank and in hand		26,906	58,041
		---------	----------
		77,370	106,211

Creditors: amounts falling due within one year	8	139,513		178,744
		----------		----------
Net current liabilities			62,143	72,533
			----------	----------
Total assets less current liabilities			96,762	114,679

Provisions

Taxation including deferred tax	3,852	4,691
	---------	----------
Net assets	92,910	109,988
	---------	----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	92,810	109,888
	---------	----------
Shareholders funds	92,910	109,988
	---------	----------

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 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.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

NIGHT HOT CAFE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 19 December 2018 , and are signed on behalf of the board by:

Mr K Roberts
Director

Company registration number: 08944763

NIGHT HOT CAFE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL. The principal place of activity is 51-52 North Street, Brighton, BN1 1RH.

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.

Going concern

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

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. No significant judgements have had to be made by the director in preparing these financial statements.

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.

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:

	Goodwill	-	10 years

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.

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 property	-	5 years
Equipment	-	20% reducing balance

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

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.

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.

Financial instruments

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

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 as a finance cost 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 6 (2017: 3 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2017 and 31 March 2018	216,937
	----------
Amortisation
At 1 April 2017	63,481
Charge for the year	21,694
	----------
At 31 March 2018	85,175
	----------
Carrying amount
At 31 March 2018	131,762
	----------
At 31 March 2017	153,456
	----------

6. Tangible assets

	Improvement to Property	Equipment	Total
	£	£	£
Cost
At 1 April 2017	17,170	42,476	59,646
Additions	–	1,889	1,889
	---------	---------	---------
At 31 March 2018	17,170	44,365	61,535
	---------	---------	---------
Depreciation
At 1 April 2017	6,868	19,022	25,890
Charge for the year	3,434	5,068	8,502
	---------	---------	---------
At 31 March 2018	10,302	24,090	34,392
	---------	---------	---------
Carrying amount
At 31 March 2018	6,868	20,275	27,143
	---------	---------	---------
At 31 March 2017	10,302	23,454	33,756
	---------	---------	---------

7. Debtors

	2018	2017
	£	£
Other debtors	43,250	42,729
	---------	---------

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	60,672	95,011
Corporation tax	22,333	21,367
Social security and other taxes	10,714	16,738
Other creditors	45,794	45,628
	----------	----------
	139,513	178,744
	----------	----------

9. Directors' loans

At the year end, the company owed the director £164 (2017: £422). The loan is interest free and payable on demand.