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Registration number: 02989810

Harriets Cafe Tearooms Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Harriets Cafe Tearooms Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Harriets Cafe Tearooms Ltd

Company Information

Directors

Mrs Tiffany Courtenay-Barrow

Mr Roger Courtenay-Barrow

Company secretary

Mrs Tiffany Courtenay-Barrow

Registered office

57 Cornhill
Bury St Edmunds
Suffolk
IP33 1BT

Accountants

Mark Booth, AIMS Accountants for Business
The Lodge
The Street
Bedingfield
Eye
Suffolk
IP23 7LQ

 

Harriets Cafe Tearooms Ltd

(Registration number: 02989810)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

148,400

179,633

Current assets

 

Stocks

5

25,805

20,231

Debtors

6

68,095

76,388

Cash at bank and in hand

 

73,277

145,146

 

167,177

241,765

Creditors: Amounts falling due within one year

7

(247,347)

(331,666)

Net current liabilities

 

(80,170)

(89,901)

Total assets less current liabilities

 

68,230

89,732

Creditors: Amounts falling due after more than one year

7

(33,333)

(53,333)

Net assets

 

34,897

36,399

Capital and reserves

 

Called up share capital

8

75,000

75,000

Retained earnings

(40,103)

(38,601)

Shareholders' funds

 

34,897

36,399

For the financial 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.

Directors' responsibilities:

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

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 August 2024 and signed on its behalf by:
 

.........................................
Mrs Tiffany Courtenay-Barrow
Company secretary and director

 

Harriets Cafe Tearooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
57 Cornhill
Bury St Edmunds
Suffolk
IP33 1BT
England

These financial statements were authorised for issue by the Board on 19 August 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.

Changes in accounting estimate

Prior period errors

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 tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Harriets Cafe Tearooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

The current income 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.

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

Long term leasehold property

6.9% straight line

Motor vehicles

15% straight line

Fixtures and fittings

15% reducing balance

Office equipment

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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 profit or loss.

 

Harriets Cafe Tearooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 41 (2022 - 42).

 

Harriets Cafe Tearooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 December 2022

362,864

485,651

37,726

14,954

Additions

-

8,322

-

-

At 30 November 2023

362,864

493,973

37,726

14,954

Depreciation

At 1 December 2022

302,055

366,827

37,726

14,954

Charge for the year

20,406

19,149

-

-

At 30 November 2023

322,461

385,976

37,726

14,954

Carrying amount

At 30 November 2023

40,403

107,997

-

-

At 30 November 2022

60,809

118,824

-

-

Total
£

Cost or valuation

At 1 December 2022

901,195

Additions

8,322

At 30 November 2023

909,517

Depreciation

At 1 December 2022

721,562

Charge for the year

39,555

At 30 November 2023

761,117

Carrying amount

At 30 November 2023

148,400

At 30 November 2022

179,633

Included within the net book value of land and buildings above is £40,404 (2022 - £60,809) in respect of short leasehold land and buildings.
 

 

Harriets Cafe Tearooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Stocks

2023
£

2022
£

Other inventories

25,805

20,231

6

Debtors

Current

2023
£

2022
£

Trade debtors

3,595

11,888

Prepayments

64,500

64,500

 

68,095

76,388

 

Harriets Cafe Tearooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

20,000

20,000

Trade creditors

 

151,735

168,240

Taxation and social security

 

29,094

37,915

Accruals and deferred income

 

14,712

69,795

Other creditors

 

31,806

35,716

 

247,347

331,666

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

33,333

53,333

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

75,000

75,000

75,000

75,000

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

33,333

53,333

2023
£

2022
£

Current loans and borrowings

Bank borrowings

20,000

20,000

 

Harriets Cafe Tearooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Related party transactions

 

Harriets Cafe Tearooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

46,167

52,000

Contributions paid to money purchase schemes

1,010

1,186

47,177

53,186