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Casamia Bristol Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09299766
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 30,000 40,000
Tangible Assets 5 106,051 103,374
136,051 143,374
CURRENT ASSETS
Stocks 6 29,370 18,177
Debtors 7 22,521 57,947
Cash at bank and in hand 4,718 19,790
56,609 95,914
Creditors: Amounts Falling Due Within One Year 8 (531,013 ) (490,184 )
NET CURRENT ASSETS (LIABILITIES) (474,404 ) (394,270 )
TOTAL ASSETS LESS CURRENT LIABILITIES (338,353 ) (250,896 )
Creditors: Amounts Falling Due After More Than One Year 9 (15,658 ) (25,783 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,738 ) (3,276 )
NET LIABILITIES (355,749 ) (279,955 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (355,849 ) (280,055 )
SHAREHOLDERS' FUNDS (355,749) (279,955)
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mrs Susan Sanchez-Iglesias
Director
9 August 2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Casamia Bristol Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09299766 . The registered office is 8-9 Lower Guinea Street, Bristol, BS1 6FU.
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. Going Concern Disclosure
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances
from the directors that they will continue to give financial support to the company for twelve months from the
date of signing of these accounts.
2.3. 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.
2.4. 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.
2.5. 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:
Freehold 5 years straight line
Plant & Machinery 15% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.6. 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.
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2.7. 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.
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.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 24 (2022: 14)
24 14
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4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 100,000
As at 30 November 2023 100,000
Amortisation
As at 1 December 2022 60,000
Provided during the period 10,000
As at 30 November 2023 70,000
Net Book Value
As at 30 November 2023 30,000
As at 1 December 2022 40,000
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 13,052 156,124 90,607 26,758 286,541
Additions - 9,959 13,216 - 23,175
As at 30 November 2023 13,052 166,083 103,823 26,758 309,716
Depreciation
As at 1 December 2022 13,052 103,502 48,718 17,895 183,167
Provided during the period - 9,741 7,803 2,954 20,498
As at 30 November 2023 13,052 113,243 56,521 20,849 203,665
Net Book Value
As at 30 November 2023 - 52,840 47,302 5,909 106,051
As at 1 December 2022 - 52,622 41,889 8,863 103,374
6. Stocks
2023 2022
£ £
Stock 29,370 18,177
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 185 742
Prepayments and accrued income 22,336 39,120
VAT - 18,085
22,521 57,947
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 58,772 134,294
Bank loans and overdrafts 10,128 24,420
Corporation tax - (1,390 )
Other taxes and social security 7,642 7,032
VAT 11,393 -
Other creditors 8,876 3,843
Amounts owed to group undertakings- Sanchez Brothers Ltd 137,076 126,756
Accruals and deferred income 55,450 67,084
Amounts owed to group undertakings- Paco Tapa's Ltd 241,676 128,145
531,013 490,184
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,658 25,783
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 105,601 51,987
Later than one year and not later than five years 388,556 127,048
494,157 179,035
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