Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31falsetruefalse2022-08-01Restaurant/cafe72trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13266935 2022-08-01 2023-07-31 13266935 2021-03-15 2022-07-31 13266935 2023-07-31 13266935 2022-07-31 13266935 c:Director1 2022-08-01 2023-07-31 13266935 c:Director2 2022-08-01 2023-07-31 13266935 d:Buildings d:LongLeaseholdAssets 2022-08-01 2023-07-31 13266935 d:Buildings d:LongLeaseholdAssets 2023-07-31 13266935 d:Buildings d:LongLeaseholdAssets 2022-07-31 13266935 d:Buildings d:ShortLeaseholdAssets 2022-08-01 2023-07-31 13266935 d:PlantMachinery 2022-08-01 2023-07-31 13266935 d:PlantMachinery 2023-07-31 13266935 d:PlantMachinery 2022-07-31 13266935 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 13266935 d:FurnitureFittings 2022-08-01 2023-07-31 13266935 d:FurnitureFittings 2023-07-31 13266935 d:FurnitureFittings 2022-07-31 13266935 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 13266935 d:OfficeEquipment 2022-08-01 2023-07-31 13266935 d:OfficeEquipment 2023-07-31 13266935 d:OfficeEquipment 2022-07-31 13266935 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 13266935 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 13266935 d:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 13266935 d:PatentsTrademarksLicencesConcessionsSimilar 2022-07-31 13266935 d:CurrentFinancialInstruments 2023-07-31 13266935 d:CurrentFinancialInstruments 2022-07-31 13266935 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 13266935 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 13266935 d:ShareCapital 2023-07-31 13266935 d:ShareCapital 2022-07-31 13266935 d:CapitalRedemptionReserve 2022-08-01 2023-07-31 13266935 d:CapitalRedemptionReserve 2023-07-31 13266935 d:CapitalRedemptionReserve 2022-07-31 13266935 d:RetainedEarningsAccumulatedLosses 2023-07-31 13266935 d:RetainedEarningsAccumulatedLosses 2022-07-31 13266935 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 13266935 c:OrdinaryShareClass1 2022-08-01 2023-07-31 13266935 c:OrdinaryShareClass1 2023-07-31 13266935 c:OrdinaryShareClass1 2022-07-31 13266935 c:OrdinaryShareClass2 2022-08-01 2023-07-31 13266935 c:OrdinaryShareClass2 2023-07-31 13266935 c:OrdinaryShareClass3 2022-08-01 2023-07-31 13266935 c:OrdinaryShareClass3 2023-07-31 13266935 c:FRS102 2022-08-01 2023-07-31 13266935 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 13266935 c:FullAccounts 2022-08-01 2023-07-31 13266935 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 13266935 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13266935









SALTA EMPANADAS LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
SALTA EMPANADAS LTD
REGISTERED NUMBER: 13266935

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
440
440

Tangible assets
 5 
32,079
24,951

  
32,519
25,391

Current assets
  

Stocks
 6 
6,440
6,460

Debtors: amounts falling due within one year
 7 
97,504
17,943

Cash at bank and in hand
 8 
20,415
40,023

  
124,359
64,426

Creditors: amounts falling due within one year
 9 
(142,973)
(129,113)

Net current liabilities
  
 
 
(18,614)
 
 
(64,687)

Total assets less current liabilities
  
13,905
(39,296)

Provisions for liabilities
  

Deferred tax
 10 
(4,529)
-

Net assets/(liabilities)
  
9,376
(39,296)


Capital and reserves
  

Called up share capital 
 11 
99
100

Capital redemption reserve
  
1
-

Profit and loss account
  
9,276
(39,396)

  
9,376
(39,296)


Page 1

 
SALTA EMPANADAS LTD
REGISTERED NUMBER: 13266935
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 April 2024.






I R Martinez
N F Buyo
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SALTA EMPANADAS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Salta Empanadas Ltd is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is 153a Harvist Road, London, NW6 6HB. The principal place of business is 61 Golborne Road, W10 5NR. The principal business activity was that of a catering outlet.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SALTA EMPANADAS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
SALTA EMPANADAS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Term of lease
Plant and machinery
-
25%
Fixtures and fittings
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

         Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and
         slow-moving stocks.


 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
SALTA EMPANADAS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 2).

Page 6

 
SALTA EMPANADAS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Intangible assets




Trademark

£



Cost


At 1 August 2022
440



At 31 July 2023

440






Net book value



At 31 July 2023
440



At 31 July 2022
440




5.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
6,666
13,092
4,137
1,056
24,951


Additions
-
9,208
3,605
1,690
14,503



At 31 July 2023

6,666
22,300
7,742
2,746
39,454



Depreciation


Charge for the year on owned assets
741
4,439
1,747
448
7,375



At 31 July 2023

741
4,439
1,747
448
7,375



Net book value



At 31 July 2023
5,925
17,861
5,995
2,298
32,079



At 31 July 2022
6,666
13,092
4,137
1,056
24,951

Page 7

 
SALTA EMPANADAS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
6,440
6,460



7.


Debtors

2023
2022
£
£


Trade debtors
10,931
3,845

Other debtors
81,822
13,186

Prepayments and accrued income
4,751
912

97,504
17,943



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
20,415
40,023



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
7,680
5,612

Corporation tax
4,436
-

Other taxation and social security
2,902
-

Other creditors
123,806
121,900

Accruals and deferred income
4,149
1,601

142,973
129,113


Page 8

 
SALTA EMPANADAS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Deferred taxation



2023


£






Charged to profit or loss
(4,529)



At end of year
(4,529)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
(4,529)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



33 (2022 - 100) Ordinary shares of £1.00 each
33
100
33 (2022 - 0) Ordinary A shares of £1.00 each
33
-
33 (2022 - 0) Ordinary B shares of £1.00 each
33
-

99

100

During the year 66 Ordinary shares were redesignated as 33 Ordinary A shares of £1 each and 33 Ordinary B shares of £1 each. Ordinary, Ordinary A and Ordinary B shares rank equally in all respects with the exception of having independent dividend rights.



12.


Reserves

Capital redemption reserve

During the year the company purchased for cancellation 1 Ordinary share of £1 each


13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £873 (2022 - £Nil) . Contributions totalling £446 (2022 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
SALTA EMPANADAS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

14.


Related party transactions


2023
2022
£
£

Amounts due from connected party
74,040
-

Loans with connected companies are repayable on demand and interest free.

 
Page 10