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REGISTERED NUMBER: 10589700 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

THE MERMAID CAFE COMPANY LIMITED

THE MERMAID CAFE COMPANY LIMITED (REGISTERED NUMBER: 10589700)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE MERMAID CAFE COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr H Greenway
Miss J Rheam





REGISTERED OFFICE: Bickland House
Bickland Water Road
FALMOUTH
Cornwall
TR11 4SB





REGISTERED NUMBER: 10589700 (England and Wales)





ACCOUNTANTS: Lang Bennetts Chartered Accountants
Bickland House
Bickland Water Road
Falmouth
Cornwall
TR11 4SB

THE MERMAID CAFE COMPANY LIMITED (REGISTERED NUMBER: 10589700)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 48,076 60,095
Tangible assets 5 144,989 147,590
193,065 207,685

CURRENT ASSETS
Stocks 916 1,930
Debtors 6 - 413
Cash at bank and in hand 14,477 60,706
15,393 63,049
CREDITORS
Amounts falling due within one year 7 25,268 76,359
NET CURRENT LIABILITIES (9,875 ) (13,310 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

183,190

194,375

CREDITORS
Amounts falling due after more than one year 8 (127,246 ) (139,324 )

PROVISIONS FOR LIABILITIES (145 ) (347 )
NET ASSETS 55,799 54,704

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 55,699 54,604
55,799 54,704

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 MERMAID CAFE COMPANY LIMITED (REGISTERED NUMBER: 10589700)

BALANCE SHEET - continued
31 JANUARY 2023


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 8 October 2023 and were signed on its behalf by:





Mr H Greenway - Director


THE MERMAID CAFE COMPANY LIMITED (REGISTERED NUMBER: 10589700)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

The Mermaid Cafe Company 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.
Land and buildings - not depreciated
Plant and machinery etc - 33% on cost and Straight line over 5 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
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.

THE MERMAID CAFE COMPANY LIMITED (REGISTERED NUMBER: 10589700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 120,189
AMORTISATION
At 1 February 2022 60,094
Charge for year 12,019
At 31 January 2023 72,113
NET BOOK VALUE
At 31 January 2023 48,076
At 31 January 2022 60,095

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 153,432 15,869 169,301
DEPRECIATION
At 1 February 2022 7,669 14,042 21,711
Charge for year 1,535 1,066 2,601
At 31 January 2023 9,204 15,108 24,312
NET BOOK VALUE
At 31 January 2023 144,228 761 144,989
At 31 January 2022 145,763 1,827 147,590

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 413

THE MERMAID CAFE COMPANY LIMITED (REGISTERED NUMBER: 10589700)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,694 11,310
Taxation and social security 4,654 12,868
Other creditors 8,920 52,181
25,268 76,359

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 127,246 139,324