The Gourmet Cafe Wetherby Limited
Registered number: 07922452
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 27,131 30,146
Tangible assets 4 2,192 2,923
29,323 33,069
Current assets
Stocks 2,880 3,250
Debtors 5 4,852 5,354
Cash at bank and in hand 882 371
8,614 8,975
Creditors: amounts falling due within one year 6 (107,303) (91,499)
Net current liabilities (98,689) (82,524)
Net liabilities (69,366) (49,455)
Capital and reserves
Called up share capital 2 2
Profit and loss account (69,368) (49,457)
Shareholders' funds (69,366) (49,455)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Karen Brittain
Director
Approved by the board on 18 October 2023
The Gourmet Cafe Wetherby Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Kitchen and office equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 60,296
At 31 January 2023 60,296
Amortisation
At 1 February 2022 30,150
Provided during the year 3,015
At 31 January 2023 33,165
Net book value
At 31 January 2023 27,131
At 31 January 2022 30,146
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Kitchen and office equipment
£
Cost
At 1 February 2022 27,440
At 31 January 2023 27,440
Depreciation
At 1 February 2022 24,517
Charge for the year 731
At 31 January 2023 25,248
Net book value
At 31 January 2023 2,192
At 31 January 2022 2,923
5 Debtors 2023 2022
£ £
Other debtors 4,852 5,354
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,439 22,211
Trade creditors 2,211 2,095
Other taxes and social security costs 241 152
Other creditors 87,412 67,041
107,303 91,499
7 Other information
The Gourmet Cafe Wetherby Limited is a private company limited by shares and incorporated in England. Its registered office is:
76 Bachelor Gardens
Harrogate
North Yorkshire
HG1 3EA
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