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REGISTERED NUMBER: 06036327 (England and Wales)















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CAFFE ORI LIMITED

CAFFE ORI LIMITED (REGISTERED NUMBER: 06036327)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CAFFE ORI LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: S R Massarella
M S Massarella
M J Massarella
Ms D M Massarella





REGISTERED OFFICE: Thurcroft Hall
Brookhouse
Laughton
Sheffield
S25 1XZ





REGISTERED NUMBER: 06036327 (England and Wales)





AUDITORS: Sowerby
Chartered Accountants and Statutory Auditors
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

CAFFE ORI LIMITED (REGISTERED NUMBER: 06036327)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 482,534 552,897

CURRENT ASSETS
Stocks 45,217 45,640
Debtors 5 43,829 6,713
Cash in hand 1,486,039 962,715
1,575,085 1,015,068
CREDITORS
Amounts falling due within one year 6 1,083,382 903,466
NET CURRENT ASSETS 491,703 111,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

974,237

664,499

PROVISIONS FOR LIABILITIES 120,633 138,224
NET ASSETS 853,604 526,275

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 852,604 525,275
SHAREHOLDERS' FUNDS 853,604 526,275

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





M S Massarella - Director


CAFFE ORI LIMITED (REGISTERED NUMBER: 06036327)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Caffe Ori Limited (previously Cafe Nova Limited) is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Thurcroft Hall, Laughton, Sheffield, S25 1XZ.

The principle activity of the company is that of the provision of catering services.

The presentational currency of the financial statements is Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Having regard to liquidity risk, current market conditions and other factors affecting the company, including the impact of the increased economic costs, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The financial statements have been prepared on a going concern basis.

The directors have considered the impact of the economy on the company's business operations and the future prospects of the company. The company's financial forecasts, taking into consideration the current environment, show that the company is expected to make profit and generate positive cashflows going forward. These positive cashflows and current strong cash holding give the company the ability to continue to operate for the foreseeable future.

Based on these facts and the current financial position, forecasts and cash flows of the company, the directors have concluded it is appropriate for the financial statements to be prepared on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

No key sources of estimation uncertainty are noted by management that have a significant effect on the amounts recognised in the financial statements.

CAFFE ORI LIMITED (REGISTERED NUMBER: 06036327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

Assets are recognised under the historical cost model.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are stated at the lower of cost, using the first in first out method, and 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CAFFE ORI LIMITED (REGISTERED NUMBER: 06036327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Accounting period
The company's accounting reference period date is 31 December. Financial statements are made up for a 52 or 53 week period ending on a Sunday adjacent to 31 December in each year. The financial statements are for a 53 week period ending 31 December 2023. The comparative figures are for a 52 week period.

CAFFE ORI LIMITED (REGISTERED NUMBER: 06036327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such case the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Impairment of financial assets

Financial assets, are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that have occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Interest bearing borrowings

Interest-bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

Related parties

For the purposes of these financial statements, a party is considered to be related to the company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the company;

(ii) the company and the party are subject to common control;

(iii) the party is an associate of the company or a joint venture in which the company is a venture

(iv) the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or

(vi) the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company

CAFFE ORI LIMITED (REGISTERED NUMBER: 06036327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

(vii) the party, or any member of a group of which it is part, provides key management personnel services to the company or its parent.

Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 138 (2022 - 108 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 732,737
Additions 3,144
At 31 December 2023 735,881
DEPRECIATION
At 1 January 2023 179,840
Charge for year 73,507
At 31 December 2023 253,347
NET BOOK VALUE
At 31 December 2023 482,534
At 31 December 2022 552,897

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,535 1,903
Amounts owed by group undertakings 7,801 4,810
Other debtors 22,493 -
43,829 6,713

CAFFE ORI LIMITED (REGISTERED NUMBER: 06036327)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 280,834 347,738
Amounts owed to group undertakings 26,066 23,463
Taxation and social security 447,633 303,357
Other creditors 328,849 228,908
1,083,382 903,466

7. FINANCIAL INSTRUMENTS

All financial instruments are measured at amortised cost.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Elizabeth Blanchard BA (Hons) BFP ACA PGCE (Senior Statutory Auditor)
for and on behalf of Sowerby

9. CONTINGENT LIABILITIES

Cross guarantees and debentures exist with the group's bankers between the following group companies:

Massarella Catering Group Limited
Massarella Restaurants Limited
Massarella Catering Limited
Caffe Ori Limited (previously Cafe Nova Limited)

The group's bankers also have a fixed and floating charge over the assets and undertaking of the group. At the year end the group owed £nil (2022: £791,667) to its bankers.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Massarella Catering Group Limited.

Consolidated financial statements of the parent company are available from Companies House. The company is not under the control of any one individual.