Registered number
13181794
CAFEAMORE LIMITED
Unaudited Filleted Accounts
28 February 2023
TEMPLETONS (UK) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
CAFEAMORE LIMITED
Registered number: 13181794
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 34,725 45,142
Tangible assets 4 71,517 33,852
106,242 78,994
Current assets
Stocks 7,375 5,250
Debtors 5 11,091 7,103
Cash at bank and in hand 38,819 24,548
57,285 36,901
Creditors: amounts falling due within one year 6 (220,203) (141,192)
Net current liabilities (162,918) (104,291)
Total assets less current liabilities (56,676) (25,297)
Creditors: amounts falling due after more than one year 7 (10,305) -
Net liabilities (66,981) (25,297)
Capital and reserves
Called up share capital 2 2
Profit and loss account (66,983) (25,299)
Shareholder's funds (66,981) (25,297)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 Peyman Rahimi Mashhadi
Director
Approved by the board on 24 November 2023
CAFEAMORE LIMITED
Notes to the Accounts
for the year ended 28 February 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 15% reducing balance
Motor Vehicles 20% reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 17 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2022 52,087
At 28 February 2023 52,087
Amortisation
At 1 March 2022 6,945
Provided during the year 10,417
At 28 February 2023 17,362
Net book value
At 28 February 2023 34,725
At 28 February 2022 45,142
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 37,613 - 37,613
Additions 32,548 18,846 51,394
At 28 February 2023 70,161 18,846 89,007
Depreciation
At 1 March 2022 3,761 - 3,761
Charge for the year 9,960 3,769 13,729
At 28 February 2023 13,721 3,769 17,490
Net book value
At 28 February 2023 56,440 15,077 71,517
At 28 February 2022 33,852 - 33,852
5 Debtors 2023 2022
£ £
Trade debtors 770 1,179
Other debtors 10,321 5,924
11,091 7,103
6 Creditors: amounts falling due within one year 2023 2022
£ £
Credit cards 455 -
Obligations under finance lease and hire purchase contracts 2,891 1,122
Trade creditors 18,949 1,418
Taxation and social security costs 6,337 2,218
Other creditors 191,571 136,434
220,203 141,192
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 10,305 -
8 Controlling party
The company was under the control of Mr Peyman Rahimi Mashadi, a director and shareholder throughout the year.
9 Other information
CAFEAMORE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309 Hoe Street
Walthamstow
London
E17 9BG
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