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Registration number: 08598474

Cosi Tabellini UK Limited

Annual Report and

Unaudited Financial Statements


for the Period from 1 August 2021 to 30 July 2022

 

Cosi Tabellini UK Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Cosi Tabellini UK Limited

Company Information

Director

Dr J D Jones

Registered office

Ty Glan yr Afon
Defynnog
Brecon
Powys
LD3 8SG

 

Bankers

NatWest Bank plc
38 High Street
Brecon
Powys
LD3 7LF

Accountants

W J James & Co
Chartered Accountants
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Cosi Tabellini UK Limited

(Registration number: 08598474)

Balance Sheet
as at 30 July 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

77

275

Current assets

 

Stocks

6,550

7,600

Debtors

6

7,709

50,411

Cash at bank and in hand

 

20,551

5,499

 

34,810

63,510

Creditors: Amounts falling due within one year

7

(23,796)

(20,265)

Net current assets

 

11,014

43,245

Total assets less current liabilities

 

11,091

43,520

Creditors: Amounts falling due after more than one year

7

(30,900)

(36,831)

Net (liabilities)/assets

 

(19,809)

6,689

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(19,909)

6,589

Total equity

 

(19,809)

6,689

For the financial period ending 30 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Cosi Tabellini UK Limited

(Registration number: 08598474)

Balance Sheet
as at 30 July 2022

Approved and authorised by the director on 10 April 2024
 

.........................................

Dr J D Jones

Director

 

Cosi Tabellini UK Limited

Notes to the Financial Statements
for the Period from 1 August 2021 to 30 July 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ty Glan yr Afon
Defynnog
Brecon
Powys
LD3 8SG

These financial statements were authorised for issue by the director on 10 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.The company has net current liabilities at the balance sheet date. The director is committed to supporting the company and her loan account will not be repaid until the company has funds available to do so.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

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

 

Cosi Tabellini UK Limited

Notes to the Financial Statements
for the Period from 1 August 2021 to 30 July 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

20% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Cosi Tabellini UK Limited

Notes to the Financial Statements
for the Period from 1 August 2021 to 30 July 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2021 - 1).

 

Cosi Tabellini UK Limited

Notes to the Financial Statements
for the Period from 1 August 2021 to 30 July 2022

4

Intangible assets

Website
£

Total
£

Cost or valuation

At 1 August 2021

20,421

20,421

At 30 July 2022

20,421

20,421

Amortisation

At 1 August 2021

20,421

20,421

At 30 July 2022

20,421

20,421

Carrying amount

At 30 July 2022

-

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 August 2021

3,514

3,514

At 30 July 2022

3,514

3,514

Depreciation

At 1 August 2021

3,239

3,239

Charge for the period

198

198

At 30 July 2022

3,437

3,437

Carrying amount

At 30 July 2022

77

77

At 31 July 2021

275

275

 

Cosi Tabellini UK Limited

Notes to the Financial Statements
for the Period from 1 August 2021 to 30 July 2022

6

Debtors

2022
£

2021
£

Prepayments

5

67

Other debtors

7,704

50,344

7,709

50,411

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Bank loans and overdrafts

8

5,932

5,836

Taxation and social security

 

3,610

2,093

Accruals and deferred income

 

2,600

4,860

Other creditors

 

11,654

7,476

 

23,796

20,265

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

30,900

36,831

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

30,900

36,831

2022
£

2021
£

Current loans and borrowings

Other borrowings

5,932

5,836