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Registered number: 05939391
Caffe La Fiamma Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Martax Accountants
Chartered Certified Accountants
Unit 113 Kingspark Business Centre
152 - 178 Kingston Road
New Malden
Surrey
KT3 3ST
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 05939391
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 127,350 152,819
Tangible Assets 5 9,472 11,827
136,822 164,646
CURRENT ASSETS
Stocks 6 4,500 4,500
Debtors 7 91,083 116,341
Cash at bank and in hand 27,770 14,851
123,353 135,692
Creditors: Amounts Falling Due Within One Year 8 (136,268 ) (120,902 )
NET CURRENT ASSETS (LIABILITIES) (12,915 ) 14,790
TOTAL ASSETS LESS CURRENT LIABILITIES 123,907 179,436
NET ASSETS 123,907 179,436
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 123,807 179,336
SHAREHOLDERS' FUNDS 123,907 179,436
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Bujar Demi
Director
1 August 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2022 100 228,451 228,551
Profit for the year and total comprehensive income - 75,737 75,737
Dividends paid - (124,852) (124,852)
As at 31 December 2022 and 1 January 2023 100 179,336 179,436
Profit for the year and total comprehensive income - 80,471 80,471
Dividends paid - (136,000) (136,000)
As at 31 December 2023 100 123,807 123,907
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Caffe La Fiamma Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05939391 . The registered office is Old Park House, Hampton Court Road, Hampton Court, Middlesex, KT8 9BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery over 3 years
Motor Vehicles over 5 years
Fixtures & Fittings over 5 years
Computer Equipment over 3 years
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 9)
9 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 254,698
As at 31 December 2023 254,698
Amortisation
As at 1 January 2023 101,879
Provided during the period 25,469
As at 31 December 2023 127,348
Net Book Value
As at 31 December 2023 127,350
As at 1 January 2023 152,819
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 7,126 1,789 30,049 2,292 41,256
Additions - 211 1,361 1,091 2,663
As at 31 December 2023 7,126 2,000 31,410 3,383 43,919
Depreciation
As at 1 January 2023 6,127 1,789 20,749 764 29,429
Provided during the period 999 211 2,680 1,128 5,018
As at 31 December 2023 7,126 2,000 23,429 1,892 34,447
Net Book Value
As at 31 December 2023 - - 7,981 1,491 9,472
As at 1 January 2023 999 - 9,300 1,528 11,827
6. Stocks
2023 2022
£ £
Materials 4,500 4,500
Page 5
Page 6
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 18,051 -
Other debtors 73,032 107,891
Director's loan account - 8,450
91,083 116,341
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,659 27,766
Bank loans and overdrafts 21,749 32,490
Corporation tax 31,791 22,455
Other taxes and social security 6,157 11,277
VAT 34,288 26,914
Director's loan account 39,624 -
136,268 120,902
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
11. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 136,000 124,852
Page 6