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Registration number: 07809647

Society Cafe Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Society Cafe Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Society Cafe Limited

(Registration number: 07809647)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

634,089

414,700

Current assets

 

Stocks

5

35,500

20,800

Debtors

6

53,494

72,242

Cash at bank and in hand

 

111,670

279,447

 

200,664

372,489

Creditors: Amounts falling due within one year

7

(445,539)

(337,045)

Net current (liabilities)/assets

 

(244,875)

35,444

Total assets less current liabilities

 

389,214

450,144

Creditors: Amounts falling due after more than one year

7

(150,640)

(180,263)

Net assets

 

238,574

269,881

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

237,574

268,881

Shareholders' funds

 

238,574

269,881

 

Society Cafe Limited

(Registration number: 07809647)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 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 25 October 2024 and signed on its behalf by:
 

.........................................
A Campbell-Howard
Director

 

Society Cafe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

The principal place of business is:
4 & 5 Kingsmead Square
Bath
Somerset
BA1 2AB

These financial statements were authorised for issue by the Board on 25 October 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 company has net current liabilities and is dependent on the support of its directors. On the assumption this support will continue the financial statements have been prepared on a going concern basis.

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.

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.

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.

 

Society Cafe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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

Leasehold improvements

15% reducing balance

Fixtures, fittings and equipment

15% reducing balance

Stocks

Stocks are stated at the lower of cost and net realisable value.

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.

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 70 (2022 - 42).

 

Society Cafe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

69,781

652,135

721,916

Additions

4,532

323,680

328,212

At 31 October 2023

74,313

975,815

1,050,128

Depreciation

At 1 November 2022

37,640

269,576

307,216

Charge for the year

4,015

104,808

108,823

At 31 October 2023

41,655

374,384

416,039

Carrying amount

At 31 October 2023

32,658

601,431

634,089

At 31 October 2022

32,141

382,559

414,700

Included within the net book value of land and buildings above is £32,658 (2022 - £32,141) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

35,500

20,800

 

Society Cafe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Debtors

2023
£

2022
£

Prepayments

47,167

47,167

Other debtors

6,327

25,075

53,494

72,242

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

93,045

52,396

Trade creditors

 

219,753

152,604

Taxation and social security

 

116,394

113,656

Accruals and deferred income

 

11,750

14,634

Other creditors

 

4,597

3,755

 

445,539

337,045

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

150,640

180,263

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       
 

Society Cafe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

150,640

180,263

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

28,454

-

Other borrowings

64,591

52,396

93,045

52,396

Bank borrowings

Other borrowings - the carrying amount at year end is £60,000 (2022 - £80,000).

Other borrowings

The carrying amount of other loans at year end is £155,231 (2022 - £152,659).

10

Dividends

2023

2022

£

£

Interim dividend of £236.00 (2022 - £180.00) per ordinary share

220,000

180,000

 

 

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £229,442 (2022 - £146,942). As at 31st October 2023 the company had annual commitments under non-cancellable operating leases expiring less than one year of £30,000 (2022: £30,000) between two and five years of £73,799 (2022: £73,799) and greater than five years of £125,643 (2022: £43,143).