The Gourmet Cafe Wetherby Limited
Registered number: 07922452
Balance Sheet
as at 31 August 2023
Notes 31/8/23 31/1/23
£ £
Fixed assets
Intangible assets 3 - 27,131
Tangible assets 4 - 2,192
- 29,323
Current assets
Stocks - 2,880
Debtors 5 3,126 4,852
Cash at bank and in hand 11 882
3,137 8,614
Creditors: amounts falling due within one year 6 (130,741) (107,303)
Net current liabilities (127,604) (98,689)
Net liabilities (127,604) (69,366)
Capital and reserves
Called up share capital 2 2
Profit and loss account (127,606) (69,368)
Shareholders' funds (127,604) (69,366)
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 period from 1 February 2023 to 31 August 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 31/8/23 31/1/23
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 60,296
Disposals (60,296)
At 31 August 2023 -
Amortisation
At 1 February 2023 33,165
On disposals (33,165)
At 31 August 2023 -
Net book value
At 31 August 2023 -
At 31 January 2023 27,131
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 2023 27,440
Disposals (27,440)
At 31 August 2023 -
Depreciation
At 1 February 2023 25,248
On disposals (25,248)
At 31 August 2023 -
Net book value
At 31 August 2023 -
At 31 January 2023 2,192
5 Debtors 31/8/23 31/1/23
£ £
Other debtors 3,126 4,852
6 Creditors: amounts falling due within one year 31/8/23 31/1/23
£ £
Bank loans and overdrafts 14,526 17,439
Trade creditors 2,831 2,211
Other taxes and social security costs 389 241
Other creditors 112,995 87,412
130,741 107,303
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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