Company registration number SC280456 (Scotland)
Cafeform Ltd
Unaudited financial statements
for the year ended 30 November 2023
Pages for filing with registrar
Cafeform Ltd
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Cafeform Ltd
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cafeform Ltd for the year ended 30 November 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the Board of Directors of Cafeform Ltd, as a body, in accordance with the terms of our engagement letter dated 25 March 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Cafeform Ltd and state those matters that we have agreed to state to the Board of Directors of Cafeform Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cafeform Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Cafeform Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cafeform Ltd. You consider that Cafeform Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Cafeform Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
23 April 2024
Cafeform Ltd
Statement of financial position
as at 30 November 2023
2
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
360,905
373,800
Current assets
Stocks
90,281
72,535
Debtors
26,176
18,491
Cash at bank and in hand
118,528
201,617
234,985
292,643
Creditors: amounts falling due within one year
(111,729)
(141,093)
Net current assets
123,256
151,550
Total assets less current liabilities
484,161
525,350
Creditors: amounts falling due after more than one year
(239,444)
(267,345)
Provisions for liabilities
(2,116)
(2,648)
Net assets
242,601
255,357
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
241,601
254,357
Total equity
242,601
255,357
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Cafeform Ltd
Statement of financial position (continued)
as at 30 November 2023
3
The financial statements were approved by the board of directors and authorised for issue on 19 April 2024 and are signed on its behalf by:
Innes Macpherson
Tatsuya Minagawa
Director
Director
Company Registration No. SC280456
Cafeform Ltd
Notes to the financial statements
for the year ended 30 November 2023
4
1
Accounting policies
Company information
Cafeform Ltd is a private company limited by shares incorporated in Scotland. The registered office is Victoria Street, Craigellachie, Aberlour, AB38 9SR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% straight line
Fixtures and fittings
10% straight line
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Cafeform Ltd
Notes to the financial statements (continued)
for the year ended 30 November 2023
1
Accounting policies (continued)
5
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.7
Defined contribution plans
The company operates a defined contribution pension scheme and the pension charge represent the amounts payable by the company to the fund in respect of the year.
2
Tangible fixed assets
Total
£
Cost
At 1 December 2022 and 30 November 2023
554,415
Depreciation and impairment
At 1 December 2022
180,615
Depreciation charged in the year
12,895
At 30 November 2023
193,510
Carrying amount
At 30 November 2023
360,905
At 30 November 2022
373,800