Company Registration No. 07759760 (England and Wales)
THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
COMPANY INFORMATION
Director
Mr J M Farrant
Company number
07759760
Registered office
Dunkeswell Airfield
Dunkeswell
EX14 4LG
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
23,356
25,941
Current assets
Stocks
2,640
3,037
Debtors
4
82,144
64,576
Cash at bank and in hand
12,711
11,217
97,495
78,830
Creditors: amounts falling due within one year
5
(75,699)
(55,375)
Net current assets
21,796
23,455
Total assets less current liabilities
45,152
49,396
Creditors: amounts falling due after more than one year
6
(33,690)
(39,834)
Provisions for liabilities
(3,945)
(4,343)
Net assets
7,517
5,219
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
7,516
5,218
Total equity
7,517
5,219

The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and signed by the director and authorised for issue on 14 November 2023
Mr J M Farrant
THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023
28 February 2023
- 2 -
Director
Company Registration No. 07759760
THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

The Aviator Coffee Bar and Restaurant Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Revenue from the sale of goods is recognised at point of sale.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Property improvements
Straight line over 10 years
Fixtures, fittings & equipment
15% Reducing balance
Computer equipment
3 Years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2022 - 4).

THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
3
Tangible fixed assets
Property improvements
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 March 2022
56,523
74,552
596
131,671
Additions
-
0
1,873
-
0
1,873
At 28 February 2023
56,523
76,425
596
133,544
Depreciation and impairment
At 1 March 2022
56,187
48,947
596
105,730
Depreciation charged in the year
336
4,122
-
0
4,458
At 28 February 2023
56,523
53,069
596
110,188
Carrying amount
At 28 February 2023
-
0
23,356
-
0
23,356
At 28 February 2022
336
25,605
-
0
25,941
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
81,433
63,485
Prepayments and accrued income
711
1,091
82,144
64,576
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,977
14,920
Trade creditors
14,980
5,592
Other taxation and social security
4,866
1,366
Other creditors
35,081
5,270
Accruals and deferred income
1,795
28,227
75,699
55,375
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
33,690
39,834
THE AVIATOR COFFEE BAR AND RESTAURANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
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