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REGISTERED NUMBER: 13843937 (England and Wales)















MEET ME ON THE CORNER CAFE LTD

Unaudited Financial Statements For The Year Ended 31 January 2024






MEET ME ON THE CORNER CAFE LTD (REGISTERED NUMBER: 13843937)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 9

MEET ME ON THE CORNER CAFE LTD

Company Information
For The Year Ended 31 January 2024







DIRECTORS: Mrs L A Campbell
K Campbell





SECRETARY:





REGISTERED OFFICE: 14 Frank Place
North Shields
United Kingdom
NE29 0LT





REGISTERED NUMBER: 13843937 (England and Wales)





ACCOUNTANTS: Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD

MEET ME ON THE CORNER CAFE LTD (REGISTERED NUMBER: 13843937)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 30,000
Tangible assets 5 42,835 56,506
72,835 86,506

CURRENT ASSETS
Stocks 2,500 -
Debtors 6 2,850 2,594
Cash at bank and in hand 290 2,507
5,640 5,101
CREDITORS
Amounts falling due within one year 7 51,693 29,171
NET CURRENT LIABILITIES (46,053 ) (24,070 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,782

62,436

CREDITORS
Amounts falling due after more than one
year

8

(40,002

)

(56,266

)

PROVISIONS FOR LIABILITIES 12 (6,999 ) (7,886 )
NET LIABILITIES (20,219 ) (1,716 )

CAPITAL AND RESERVES
Called up share capital 13 2 2
Retained earnings (20,221 ) (1,718 )
SHAREHOLDERS' FUNDS (20,219 ) (1,716 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MEET ME ON THE CORNER CAFE LTD (REGISTERED NUMBER: 13843937)

Balance Sheet - continued
31 January 2024


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 20 September 2024 and were signed on its behalf by:





Mrs L A Campbell - Director


MEET ME ON THE CORNER CAFE LTD (REGISTERED NUMBER: 13843937)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Meet Me On The Corner Cafe Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Significant judgements
There were no judgements made that were significant enough to warrant disclosure.

Turnover
Turnover is stated net of value added tax and represents the total receivable by the company. The revenue is recognised on receipt of cash for shop sales.

Goodwill
Goodwill that was purchased this year has not been amortised. The Directors are aware that this policy does not fall in-line with recommended accounting standards. In carrying out an impairment review the Directors deemed that the carrying value is accurate.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


MEET ME ON THE CORNER CAFE LTD (REGISTERED NUMBER: 13843937)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Significant estimates
There were no estimates made that were significant enough to warrant disclosure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 30,000
NET BOOK VALUE
At 31 January 2024 30,000
At 31 January 2023 30,000

MEET ME ON THE CORNER CAFE LTD (REGISTERED NUMBER: 13843937)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2023 15,000 13,375 22,060
Additions - 1,903 844
At 31 January 2024 15,000 15,278 22,904
DEPRECIATION
At 1 February 2023 - 908 2,362
Charge for year 9,000 2,174 3,392
At 31 January 2024 9,000 3,082 5,754
NET BOOK VALUE
At 31 January 2024 6,000 12,196 17,150
At 31 January 2023 15,000 12,467 19,698

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 9,999 385 60,819
Additions - - 2,747
At 31 January 2024 9,999 385 63,566
DEPRECIATION
At 1 February 2023 1,000 43 4,313
Charge for year 1,800 52 16,418
At 31 January 2024 2,800 95 20,731
NET BOOK VALUE
At 31 January 2024 7,199 290 42,835
At 31 January 2023 8,999 342 56,506

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,850 2,594

MEET ME ON THE CORNER CAFE LTD (REGISTERED NUMBER: 13843937)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,629 4,860
Hire purchase contracts (see note 9) 1,881 1,718
Trade creditors 11,433 7,269
Taxation and social security 2,613 6,827
Other creditors 27,137 8,497
51,693 29,171

Included in other creditors are amounts owed to the Directors, this year they were owed £10,213 (£1,488 - 2023)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,416 15,412
Hire purchase contracts (see note 9) 5,729 7,610
Other creditors 23,857 33,244
40,002 56,266

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 8,500 12,500

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 1,881 1,718
Between one and five years 5,729 7,610
7,610 9,328

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 15,412 20,272

Bank loan made to the company is secured by way of a Director's personal guarantee.

MEET ME ON THE CORNER CAFE LTD (REGISTERED NUMBER: 13843937)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

11. FINANCIAL INSTRUMENTS

Trade creditors are at their carrying value.
Loans made to the company are valued at the carrying amount which is determined deducting capital repayments and by adding interest calculated using the effective interest method on an actuarial basis.
Hire purchase contracts taken out by the company are valued at the carrying amount which is determined deducting capital repayments and by adding interest calculated using the effective interest method on an actuarial basis.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,999 7,886

Deferred
tax
£   
Balance at 1 February 2023 7,886
Provided during year (887 )
Balance at 31 January 2024 6,999

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

14. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities.

MEET ME ON THE CORNER CAFE LTD

Report of the Accountants to the Directors of
Meet Me On The Corner Cafe Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2024 set out on pages three to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD


20 September 2024