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Registration number: 10685061

Enoteca Fuga Ltd

trading as Cafe 12

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Enoteca Fuga Ltd

trading as Cafe 12

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5 to 6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 16

 

Enoteca Fuga Ltd

trading as Cafe 12

Company Information

Directors

Mrs Madeline Andrews

Mr Peter Andrews

Registered office

Enoteca Fuga Ltd
23 St Marks Road
Bristol
BS5 0LN

Accountants

Melrose (UK) Limited
8 St Mary Street
Thornbury
Bristol
BS35 2AB

 

Enoteca Fuga Ltd

trading as Cafe 12

Directors' Report for the Year Ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mrs Madeline Andrews

Mr Peter Andrews

Principal activity

The principal activity of the company is to operate the Cafe No12 and Spiegel & Peach.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 17 October 2023 and signed on its behalf by:
 

.........................................
Mrs Madeline Andrews
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Enoteca Fuga Ltd

trading as Cafe 12
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Enoteca Fuga Ltd for the year ended 31 March 2023 as set out on pages 4 to 16 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 Enoteca Fuga Ltd. Our work has been undertaken solely to prepare for your approval the accounts of Enoteca Fuga Ltd and state those matters that we have agreed to state to the Board of Directors of Enoteca Fuga Ltd. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Enoteca Fuga Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Enoteca Fuga Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Enoteca Fuga Ltd. You consider that Enoteca Fuga 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 accounts of Enoteca Fuga 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 accounts.

......................................

Melrose (UK) Limited
8 St Mary Street
Thornbury
Bristol
BS35 2AB

17 October 2023

 

Enoteca Fuga Ltd

trading as Cafe 12

Profit and Loss Account for the Year Ended 31 March 2023

Note

2023
£

2022
£

Turnover

 

370,629

300,386

Cost of sales

 

(163,489)

(154,181)

Gross profit

 

207,140

146,205

Administrative expenses

 

(172,449)

(185,587)

Other operating income

 

-

16,345

Operating profit/(loss)

 

34,691

(23,037)

Interest payable and similar expenses

 

(1,135)

(1,018)

Profit/(loss) before tax

4

33,556

(24,055)

Tax on profit/(loss)

 

(3,314)

-

Profit/(loss) for the financial year

 

30,242

(24,055)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Enoteca Fuga Ltd

trading as Cafe 12

(Registration number: 10685061)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

24,596

29,336

Tangible assets

6

3,698

7,457

 

28,294

36,793

Current assets

 

Stocks

7

72,146

47,834

Debtors

8

35,531

25,257

Cash at bank and in hand

 

1,112

1,243

 

108,789

74,334

Creditors: Amounts falling due within one year

9

(109,761)

(108,794)

Net current liabilities

 

(972)

(34,460)

Total assets less current liabilities

 

27,322

2,333

Creditors: Amounts falling due after more than one year

9

(35,450)

(40,703)

Net liabilities

 

(8,128)

(38,370)

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

(8,129)

(38,371)

Shareholders' deficit

 

(8,128)

(38,370)

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 17 October 2023 and signed on its behalf by:
 

 

Enoteca Fuga Ltd

trading as Cafe 12

(Registration number: 10685061)
Balance Sheet as at 31 March 2023

.........................................
Mrs Madeline Andrews
Director

 

Enoteca Fuga Ltd

trading as Cafe 12

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

1

(38,371)

(38,370)

Profit for the year

-

30,242

30,242

At 31 March 2023

1

(8,129)

(8,128)

Share capital
£

Retained earnings
£

Total
£

At 1 April 2021

1

(14,316)

(14,315)

Loss for the year

-

(24,055)

(24,055)

At 31 March 2022

1

(38,371)

(38,370)

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Enoteca Fuga Ltd
23 St Marks Road
Bristol
BS5 0LN

These financial statements were authorised for issue by the Board on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings, tools and equipment

20% Straight Line

Leasehold property

Equally over the lease term

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 8).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,159

4,114

Amortisation expense

4,740

4,740

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

47,400

47,400

At 31 March 2023

47,400

47,400

Amortisation

At 1 April 2022

18,064

18,064

Amortisation charge

4,740

4,740

At 31 March 2023

22,804

22,804

Carrying amount

At 31 March 2023

24,596

24,596

At 31 March 2022

29,336

29,336

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

2,813

19,625

22,438

Additions

-

400

400

At 31 March 2023

2,813

20,025

22,838

Depreciation

At 1 April 2022

717

14,264

14,981

Charge for the year

188

3,971

4,159

At 31 March 2023

905

18,235

19,140

Carrying amount

At 31 March 2023

1,908

1,790

3,698

At 31 March 2022

2,096

5,361

7,457

Included within the net book value of land and buildings above is £1,908 (2022 - £2,096) in respect of short leasehold land and buildings.
 

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Stocks

2023
£

2022
£

Other inventories

72,146

47,834

8

Debtors

Current

2023
£

2022
£

Trade debtors

22,510

14,351

Prepayments

4,921

2,806

Other debtors

8,100

8,100

 

35,531

25,257

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

13,869

9,553

Trade creditors

 

6,457

14,654

Taxation and social security

 

17,078

13,124

Other creditors

 

72,357

71,463

 

109,761

108,794

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

35,450

40,703

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share Capital of £1 each

1

1

1

1

         

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

35,450

40,703

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,253

5,123

Bank overdrafts

8,616

4,430

13,869

9,553

12

Related party transactions

 

Enoteca Fuga Ltd

trading as Cafe 12

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

27,208

25,885

Loans from related parties

2023

Key management
£

Total
£

At start of period

71,067

71,067

Advanced

924

924

At end of period

71,991

71,991

2022

Key management
£

Total
£

At start of period

68,574

68,574

Advanced

2,493

2,493

At end of period

71,067

71,067

Terms of loans from related parties

0% interest