Number
04650499
CROSS'S COFFEE SHOP LIMITED
Filleted Accounts
30 April 2023
CROSS'S COFFEE SHOP LIMITED
Registered number: 04650499
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,143 5,920
9,143 5,920
Current assets
Stocks 1,069 1,069
Debtors 4 1,296 1,126
Cash at bank and in hand 39,915 49,671
42,280 51,866
Creditors: amounts falling due within one year 5 (23,231) (25,662)
Net current assets 19,049 26,204
Total assets less current liabilities 28,192 32,124
Provisions for liabilities (1,737) (1,125)
Net assets 26,455 30,999
Capital and reserves
Called up share capital 2 2
Profit and loss account 26,453 30,997
Shareholders' funds 26,455 30,999
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.
Mr. Cristoforo Croci
Director
Approved by the board on 31 January 2024
CROSS'S COFFEE SHOP LIMITED
Notes to the Accounts
for the year ended 30 April 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 (as applied to small entities by section 1A of the standard).
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Fixtures and fittings Total
£ £
Cost
At 1 May 2022 19,568 19,568
Additions 6,446 6,446
At 30 April 2023 26,014 26,014
Depreciation
At 1 May 2022 13,648 13,648
Charge for the year 3,223 3,223
At 30 April 2023 16,871 16,871
Net book value
At 30 April 2023 9,143 9,143
At 30 April 2022 5,920 5,920
4 Debtors 2023 2022
£ £
Prepayments 1,296 1,126
1,296 1,126
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,692 692
Corporation tax 40 4,054
Mr. Cristoforo Croci 6,623 8,566
Ms. Shelley Williamson 8,000 8,000
VAT 5,904 3,746
Pension fund - 118
Accruals 972 486
23,231 25,662
6 Ultimate controlling party and related party transactions
The company was under the control of Mr. Cristoforo Croci throughout the current and previous period.
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 except for those disclosed below.
Ms. Shelley Williamson is the director's partner.
2023 2022
£ £
Equity dividends paid to Ms. Shelley Williamson (2,000) 2,000
Equity dividends paid to Mr. Cristoforo Croci 2,000 2,000
Balance owing (to) / from Ms. Shelley Williamson (8,000) 8,000
Balance owing (to) / from Mr. Cristoforo Croci (6,623) (8,566)
Interest at 2.50% per annum is charged on balances over £10,000 owed to the company.
7 Other information
CROSS'S COFFEE SHOP LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
59 Roper Street
Whitehaven
Cumbria
CA28 7AU
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