REGISTERED NUMBER: |
The River Cafe Limited |
Strategic Report, Directors' Report and |
Audited Financial Statements |
for the Year Ended 30 April 2023 |
REGISTERED NUMBER: |
The River Cafe Limited |
Strategic Report, Directors' Report and |
Audited Financial Statements |
for the Year Ended 30 April 2023 |
The River Cafe Limited (Registered number: 02105075) |
Contents of the Financial Statements |
for the year ended 30 April 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Directors' Report | 3 |
Independent Auditors' Report | 4 |
Income Statement | 7 |
Other Comprehensive Income | 8 |
Balance Sheet | 9 |
Statement of Changes in Equity | 10 |
Cash Flow Statement | 11 |
Notes to the Financial Statements | 12 |
The River Cafe Limited |
Company Information |
for the year ended 30 April 2023 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
Statutory Auditor |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
The River Cafe Limited (Registered number: 02105075) |
Strategic Report |
for the year ended 30 April 2023 |
The directors present their strategic report for the year ended 30 April 2023. |
Review of business |
Revenue grew by 5% and margins remained consistent. Overheads however increased principally rent & utilities which undermined what otherwise would have been a very profitable year. |
Financial Key Performance Indicators |
The key performance indicators that are monitored are forward bookings, food & wine margins which are expected to be above 70%, the daily turnover, the number of covers and the spend per head. |
Explanation of extraordinary amounts |
Director's remuneration increased from £333,333 to £660,840 but this included arrears. Director's remuneration is now £500k per annum. Rent & Services increased from £231,712 to £406,316 because of the additional space most of which is revenue producing. Light & Heat increased from £130,708 to £209,959 because of the surge in energy prices. |
On behalf of the board: |
The River Cafe Limited (Registered number: 02105075) |
Directors' Report |
for the year ended 30 April 2023 |
The directors present their report with the financial statements of the company for the year ended 30 April 2023. |
Principal activity |
The principal activity of the company continued to be that of restauranteurs. |
Dividends |
No dividends will be distributed for the year ended 30 April 2023. |
Directors |
The directors shown below have held office during the whole of the period from 1 May 2022 to the date of this report. |
Charitable donations |
During the year the company made charitable donations of £20,922 (2022 - £19,123 ). |
Directors' responsibilities statement |
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Statement as to disclosure of information to auditors |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
Auditors |
The auditors, Cooper Parry Group Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. The audit business of Haines Watts London LLP was acquired by Cooper Parry Group Limited on 14 November 2023. Haines Watts London LLP has resigned as auditor and Cooper Parry Group Limited has been appointed in its place. |
On behalf of the board: |
Independent Auditors' Report to the Members of |
The River Cafe Limited |
Opinion |
We have audited the financial statements of The River Cafe Limited (the 'company') for the year ended 30 April 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 April 2023 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other Matters |
The financial statement of The River Café Limited for year ending 30 April 2022 were unaudited. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements. |
Independent Auditors' Report to the Members of |
The River Cafe Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Independent Auditors' Report to the Members of |
The River Cafe Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
We gained an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates, and considered the risk of acts by the Company that were contrary to applicable laws and regulations, including fraud. We discussed with the directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance. |
During the audit we focused on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. |
Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our tests include agreeing the financial statement disclosures to underlying supporting documentation. |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. In assessing the potential risks of material misstatement we obtained an understanding of; the entities operations, including the nature of its revenue sources and services and of its objectives and strategies to understand the classes of transactions, account balances, expected financial statement disclosures and business risks that may result in risks of material misstatement. We did not identify any matters relating to non-compliance with laws and regulations relating to fraud. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditor |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
The River Cafe Limited (Registered number: 02105075) |
Income Statement |
for the year ended 30 April 2023 |
2023 | 2022 |
Notes | £ | £ |
Turnover |
Cost of sales | ( |
) | ( |
) |
Gross profit |
Distribution costs | ( |
) | ( |
) |
Administrative expenses | ( |
) | ( |
) |
(84 | ) | 476,931 |
Other operating income |
Operating profit |
Interest receivable and similar income |
44,875 | 518,066 |
Interest payable and similar expenses | 4 | ( |
) |
Profit before taxation | 5 |
Tax on profit | 6 | ( |
) |
Profit for the financial year |
The River Cafe Limited (Registered number: 02105075) |
Other Comprehensive Income |
for the year ended 30 April 2023 |
2023 | 2022 |
Notes | £ | £ |
Profit for the year |
Other comprehensive income | - | - |
Total comprehensive income for the year |
The River Cafe Limited (Registered number: 02105075) |
Balance Sheet |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 8 |
Tangible assets | 9 |
Current assets |
Stocks | 10 |
Debtors | 11 |
Cash at bank |
Creditors |
Amounts falling due within one year | 12 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
13 |
Net assets |
Capital and reserves |
Called up share capital | 16 |
Capital redemption reserve | 17 |
Retained earnings | 17 |
Shareholders' funds |
The financial statements were approved by the Board of Directors and authorised for issue on |
The River Cafe Limited (Registered number: 02105075) |
Statement of Changes in Equity |
for the year ended 30 April 2023 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 May 2021 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2022 |
Changes in equity |
Total comprehensive income | - |
Balance at 30 April 2023 |
The River Cafe Limited (Registered number: 02105075) |
Cash Flow Statement |
for the year ended 30 April 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 20 | ( |
) |
Interest element of hire purchase payments paid |
( |
) |
Tax accrued | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Interest received |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Loan repayments in year | ( |
) | ( |
) |
Amount introduced by directors | 1,000,001 | - |
Amount withdrawn by directors | (542,572 | ) | (667,951 | ) |
Equity dividends paid | ( |
) |
Net cash from financing activities | ( |
) |
Increase/(decrease) in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
21 |
2,150,876 |
Cash and cash equivalents at end of year | 21 | 1,440,609 | 1,353,339 |
The River Cafe Limited (Registered number: 02105075) |
Notes to the Financial Statements |
for the year ended 30 April 2023 |
1. | Statutory information |
The River Cafe Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
Depreciation |
The company's tangible assets are depreciated on a straight line basis over their useful economic lives. Management reviews the appropriateness of assets' useful economic lives at least annually and any changes could affect the prospective depreciation rates and asset carrying values. |
Amortisation |
Intangible assets are at cost less accumulated amortisation. Amortisation is charged on a straight line basis over the estimated economic life of the assets. |
Turnover |
Turnover represents amounts receivable for restaurant services provided and is stated net of Value Added Tax. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings - 25% on cost |
Motor vehicles - 20% on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
The River Cafe Limited (Registered number: 02105075) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2023 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Hire purchase and leasing commitments |
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. At the balance sheet date all leases are classified as operating leases. |
Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the term of the relevant lease. Benefits received and receivable as an incentive to enter into an operating lease are also spread on a straight line basis over the lease term. |
Going concern |
The Directors have considered the working capital requirements of the Company. The Directors believe that the company has adequate financial resources to continue in operational existence for the foreseeable future and meet its liabilities and obligations as they fall due for the next twelve months Therefore, the financial statements have been prepared on a going concern basis of accounting. |
3. | Employees and directors |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2023 | 2022 |
Average Number of Employees |
The River Cafe Limited (Registered number: 02105075) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2023 |
4. | Interest payable and similar expenses |
2023 | 2022 |
£ | £ |
Hire purchase |
5. | Profit before taxation |
The profit is stated after charging: |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
6. | Taxation |
Analysis of the tax (credit)/charge |
The tax (credit)/charge on the profit for the year was as follows: |
2023 | 2022 |
£ | £ |
Current tax: |
UK corporation tax | ( |
) |
Deferred tax | ( |
) |
Tax on profit | ( |
) |
Reconciliation of total tax (credit)/charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
2023 | 2022 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2022 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Adjustments to tax charge in respect of previous periods |
Adjustment for tax rate increase | 9,663 | - |
Deferred tax movement | (19,424 | ) | 12,263 |
S455 and other | (60,596 | ) | - |
Total tax (credit)/charge | (32,106 | ) | 101,547 |
7. | Dividends |
2023 | 2022 |
£ | £ |
Ordinary interim paid |
The River Cafe Limited (Registered number: 02105075) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2023 |
8. | Intangible fixed assets |
Development |
costs |
£ |
Cost |
At 1 May 2022 |
and 30 April 2023 |
Amortisation |
At 1 May 2022 |
and 30 April 2023 |
Net book value |
At 30 April 2023 |
At 30 April 2022 |
9. | Tangible fixed assets |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 May 2022 |
Additions |
At 30 April 2023 |
Depreciation |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
Net book value |
At 30 April 2023 |
At 30 April 2022 |
10. | Stocks |
2023 | 2022 |
£ | £ |
Stocks |
11. | Debtors |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Other debtor - s455 | 323,158 | 411,764 |
Directors' current accounts | 549,636 | 1,007,065 |
Deferred tax asset |
Prepayments and accrued income |
The River Cafe Limited (Registered number: 02105075) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2023 |
11. | Debtors - continued |
2023 | 2022 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
12. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 14) |
Hire purchase contracts (see note 15) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 468,818 | 281,849 |
Other creditors |
Accruals and deferred income |
13. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 15) |
14. | Loans |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
15. | Leasing agreements |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
The River Cafe Limited (Registered number: 02105075) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2023 |
15. | Leasing agreements - continued |
Non-cancellable |
operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
16. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 575 | 575 |
17. | Reserves |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 May 2022 | 90,872 |
Profit for the year |
At 30 April 2023 | 167,853 |
18. | Related party disclosures |
During the year the company made loans and advances to the director. At the year end the director owed the company £549,636 (2022: £1,028,891). |
19. | Control |
The ultimate controlling party is the director. |
20. | Reconciliation of profit for the financial year to cash generated from operations |
2023 | 2022 |
£ | £ |
Profit for the financial year |
Depreciation charges |
Deferred tax movement | (19,424 | ) | (33,831 | ) |
Prior year tax adjustment | (378,455 | ) | - |
Finance costs | - | 678 |
Finance income | - | (21,827 | ) |
Taxation | ( |
) |
(236,248 | ) | 562,813 |
Increase in stocks | ( |
) | ( |
) |
Decrease/(increase) in trade and other debtors | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations | ( |
) |
The River Cafe Limited (Registered number: 02105075) |
Notes to the Financial Statements - continued |
for the year ended 30 April 2023 |
21. | Cash and cash equivalents |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 April 2023 |
30/4/23 | 1/5/22 |
£ | £ |
Cash and cash equivalents | 1,440,609 | 1,353,339 |
Year ended 30 April 2022 |
30/4/22 | 1/5/21 |
£ | £ |
Cash and cash equivalents | 1,353,339 | 2,150,876 |
22. | Analysis of changes in net funds |
At 1/5/22 | Cash flow | At 30/4/23 |
£ | £ | £ |
Net cash |
Cash at bank | 1,353,339 | 87,270 | 1,440,609 |
1,353,339 | 1,440,609 |
Debt |
Finance leases | (19,945 | ) | 3,486 | (16,459 | ) |
Debts falling due within 1 year | (291,667 | ) | 291,667 | - |
(311,612 | ) | 295,153 | (16,459 | ) |
Total | 1,041,727 | 382,423 | 1,424,150 |