Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31No description of principal activity23true2021-01-01false21trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11780072 2021-01-01 2021-12-31 11780072 2020-01-01 2020-12-31 11780072 2021-12-31 11780072 2020-12-31 11780072 c:Director1 2021-01-01 2021-12-31 11780072 d:Buildings d:ShortLeaseholdAssets 2021-01-01 2021-12-31 11780072 d:Buildings d:ShortLeaseholdAssets 2021-12-31 11780072 d:Buildings d:ShortLeaseholdAssets 2020-12-31 11780072 d:LandBuildings 2021-12-31 11780072 d:LandBuildings 2020-12-31 11780072 d:PlantMachinery 2021-01-01 2021-12-31 11780072 d:PlantMachinery 2021-12-31 11780072 d:PlantMachinery 2020-12-31 11780072 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 11780072 d:FurnitureFittings 2021-01-01 2021-12-31 11780072 d:FurnitureFittings 2021-12-31 11780072 d:FurnitureFittings 2020-12-31 11780072 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 11780072 d:OfficeEquipment 2021-01-01 2021-12-31 11780072 d:OfficeEquipment 2021-12-31 11780072 d:OfficeEquipment 2020-12-31 11780072 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 11780072 d:ComputerEquipment 2021-01-01 2021-12-31 11780072 d:ComputerEquipment 2021-12-31 11780072 d:ComputerEquipment 2020-12-31 11780072 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 11780072 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 11780072 d:CopyrightsPatentsTrademarksServiceOperatingRights 2021-01-01 2021-12-31 11780072 d:CopyrightsPatentsTrademarksServiceOperatingRights 2021-12-31 11780072 d:CopyrightsPatentsTrademarksServiceOperatingRights 2020-12-31 11780072 d:CurrentFinancialInstruments 2021-12-31 11780072 d:CurrentFinancialInstruments 2020-12-31 11780072 d:CurrentFinancialInstruments 3 2021-12-31 11780072 d:CurrentFinancialInstruments 3 2020-12-31 11780072 d:Non-currentFinancialInstruments 2021-12-31 11780072 d:Non-currentFinancialInstruments 2020-12-31 11780072 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11780072 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 11780072 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 11780072 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 11780072 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 11780072 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 11780072 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 11780072 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 11780072 d:ShareCapital 2021-12-31 11780072 d:ShareCapital 2020-12-31 11780072 d:RetainedEarningsAccumulatedLosses 2021-12-31 11780072 d:RetainedEarningsAccumulatedLosses 2020-12-31 11780072 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 11780072 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 11780072 c:FRS102 2021-01-01 2021-12-31 11780072 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 11780072 c:FullAccounts 2021-01-01 2021-12-31 11780072 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 11780072 2 2021-01-01 2021-12-31 11780072 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 11780072









KIPFERL PATISSERIE LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

 
KIPFERL PATISSERIE LTD
REGISTERED NUMBER: 11780072

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Intangible assets
 4 
7,000
8,000

Tangible assets
 5 
32,743
17,215

  
39,743
25,215

Current assets
  

Stocks
 6 
19,098
-

Debtors: amounts falling due within one year
 7 
29,286
55,308

Cash at bank and in hand
 8 
252,071
175,776

  
300,455
231,084

Creditors: amounts falling due within one year
 9 
(227,914)
(203,273)

Net current assets
  
 
 
72,541
 
 
27,811

Total assets less current liabilities
  
112,284
53,026

Creditors: amounts falling due after more than one year
 10 
(61,500)
(81,510)

  

Net assets/(liabilities)
  
50,784
(28,484)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
50,684
(28,584)

  
50,784
(28,484)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
KIPFERL PATISSERIE LTD
REGISTERED NUMBER: 11780072
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Hubert Zanier
Director

Date: 6 September 2022

The notes on pages 3 to 13 form part of these financial statements.
Page 2

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Kipferl Patisserie Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:
Registered number: 11780072
Registered office: 20 Camden Passage, London, England, N1 8ED

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Trademarks
-
10
years

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
Plant and machinery
-
25%
Fixtures and fittings
-
20%
Office equipment
-
10%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

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.

 
2.14

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.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
Page 6

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.15
Financial instruments (continued)

third parties, loans to related parties and investments in ordinary shares.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2021
        2020
            No.
            No.







Director
1
1



Staff
22
20

23
21

Page 7

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Intangible assets




Trademarks

£



Cost


At 1 January 2021
10,000



At 31 December 2021

10,000



Amortisation


At 1 January 2021
2,000


Charge for the year on owned assets
1,000



At 31 December 2021

3,000



Net book value



At 31 December 2021
7,000



At 31 December 2020
8,000




5.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 January 2021
-
670
17,643
2,672
1,790


Additions
2,850
761
12,803
3,972
1,648



At 31 December 2021

2,850
1,431
30,446
6,644
3,438



Depreciation


At 1 January 2021
-
84
4,719
283
474


Charge for the year on owned assets
177
221
5,011
494
603



At 31 December 2021

177
305
9,730
777
1,077
Page 8

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

           5.Tangible fixed assets (continued)




Net book value



At 31 December 2021
2,673
1,126
20,716
5,867
2,361



At 31 December 2020
-
586
12,924
2,389
1,316

Total

£



Cost or valuation


At 1 January 2021
22,775


Additions
22,034



At 31 December 2021

44,809



Depreciation


At 1 January 2021
5,560


Charge for the year on owned assets
6,506



At 31 December 2021

12,066



Net book value



At 31 December 2021
32,743



At 31 December 2020
17,215




The net book value of land and buildings may be further analysed as follows:


2021
2020
£
£

Short leasehold
2,673
-

2,673
-


Page 9

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Stocks

2021
2020
£
£

Finished goods and goods for resale
19,098
-

19,098
-



7.


Debtors

2021
2020
£
£


Trade debtors
-
375

Amounts owed by group undertakings
15,480
30,784

Other debtors
2,598
6,931

Prepayments and accrued income
11,208
3,075

Grants receivable
-
14,143

29,286
55,308



8.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
252,071
175,776

252,071
175,776


Page 10

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
18,000
8,490

Trade creditors
42,432
36,984

Amounts owed to group undertakings
-
293

Amounts owed to other participating interests
50,000
74,983

Other taxation and social security
35,465
33,153

Other creditors
62,871
29,457

Accruals and deferred income
19,146
19,913

227,914
203,273



10.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
61,500
81,510

61,500
81,510


Page 11

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
18,000
8,490


18,000
8,490


Amounts falling due 2-5 years

Bank loans
61,500
63,844


61,500
63,844

Amounts falling due after more than 5 years

Bank loans
-
17,666

-
17,666

79,500
90,000



12.


Financial instruments

2021
2020
£
£

Financial assets


Financial assets measured at fair value through profit or loss
252,071
175,776




13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,773 (2019 - £494).
Contributions totalling £2,245 (2019 - £1,050) were payable to the fund at the balance sheet date and are included in creditors.

Page 12

 
KIPFERL PATISSERIE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

14.


Related party transactions

The Company has taken the exemption under FRS 102 section 1(A) not to disclose transactions and balances with wholly owned group companies.
Amount owed to the shareholders during the period amounted to £50,000 (2019 : £74,983). Remuneration of £33,000 (2019 : £10,000) was paid to one of the serving directors during the period.


15.


Controlling party

The ultimate and immediate parent company is Kipferl Restaurant Group Ltd, which is registered in England and Wales, at 20 Camden Passage, London, N1 8ED, United Kingdom

 
Page 13