The Bluebird Cafe (Solent) Limited
Registered number: 08381918
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 175,000 192,500
Tangible assets 4 24,190 29,692
199,190 222,192
Current assets
Stocks 10,000 7,500
Debtors 5 63,297 7,188
Cash at bank and in hand 114,928 145,611
188,225 160,299
Creditors: amounts falling due within one year 6 (65,283) (75,170)
Net current assets 122,942 85,129
Total assets less current liabilities 322,132 307,321
Creditors: amounts falling due after more than one year 7 (21,667) (41,384)
Net assets 300,465 265,937
Capital and reserves
Called up share capital 1 1
Profit and loss account 300,464 265,936
Shareholder's funds 300,465 265,937
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 her 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.
Miss S Jewell
Director
Approved by the board on 29 March 2024
The Bluebird Cafe (Solent) Limited
Notes to the Accounts
for the year ended 31 March 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.
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 25% reducing balance
Motor vehicles 25% 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.
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 12 19
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 350,000
At 31 March 2023 350,000
Amortisation
At 1 April 2022 157,500
Provided during the year 17,500
At 31 March 2023 175,000
Net book value
At 31 March 2023 175,000
At 31 March 2022 192,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 71,719 8,280 79,999
Additions 2,560 - 2,560
At 31 March 2023 74,279 8,280 82,559
Depreciation
At 1 April 2022 48,237 2,070 50,307
Charge for the year 6,509 1,553 8,062
At 31 March 2023 54,746 3,623 58,369
Net book value
At 31 March 2023 19,533 4,657 24,190
At 31 March 2022 23,482 6,210 29,692
5 Debtors 2023 2022
£ £
Other debtors 63,297 7,188
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 2,345 815
Taxation and social security costs 25,385 34,074
Other creditors 27,553 30,281
65,283 75,170
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,667 31,667
Other creditors - 9,717
21,667 41,384
8 Other information
The Bluebird Cafe (Solent) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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