Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31Restaurant services2023-04-01false3433truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11299116 2023-04-01 2024-03-31 11299116 2022-04-01 2023-03-31 11299116 2024-03-31 11299116 2023-03-31 11299116 c:Director3 2023-04-01 2024-03-31 11299116 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 11299116 d:Buildings d:ShortLeaseholdAssets 2024-03-31 11299116 d:Buildings d:ShortLeaseholdAssets 2023-03-31 11299116 d:PlantMachinery 2023-04-01 2024-03-31 11299116 d:PlantMachinery 2024-03-31 11299116 d:PlantMachinery 2023-03-31 11299116 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11299116 d:FurnitureFittings 2023-04-01 2024-03-31 11299116 d:FurnitureFittings 2024-03-31 11299116 d:FurnitureFittings 2023-03-31 11299116 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11299116 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11299116 d:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 11299116 d:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 11299116 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-04-01 2024-03-31 11299116 d:CurrentFinancialInstruments 2024-03-31 11299116 d:CurrentFinancialInstruments 2023-03-31 11299116 d:Non-currentFinancialInstruments 2024-03-31 11299116 d:Non-currentFinancialInstruments 2023-03-31 11299116 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11299116 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11299116 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11299116 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11299116 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11299116 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11299116 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 11299116 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 11299116 d:ShareCapital 2024-03-31 11299116 d:ShareCapital 2023-03-31 11299116 d:SharePremium 2024-03-31 11299116 d:SharePremium 2023-03-31 11299116 d:RetainedEarningsAccumulatedLosses 2024-03-31 11299116 d:RetainedEarningsAccumulatedLosses 2023-03-31 11299116 c:FRS102 2023-04-01 2024-03-31 11299116 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11299116 c:FullAccounts 2023-04-01 2024-03-31 11299116 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11299116 2 2023-04-01 2024-03-31 11299116 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-04-01 2024-03-31 11299116 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 11299116






VERMUTERIA LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










img5ce1.png

 
VERMUTERIA LIMITED
REGISTERED NUMBER:11299116

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,389
2,941

Tangible assets
 5 
274,709
312,578

  
277,098
315,519

Current assets
  

Stocks
  
13,550
9,631

Debtors: amounts falling due after more than one year
 6 
51,750
82,552

Debtors: amounts falling due within one year
 6 
73,817
54,859

Cash at bank and in hand
 7 
132,307
144,730

  
271,424
291,772

Creditors: amounts falling due within one year
 8 
(335,696)
(222,317)

Net current (liabilities)/assets
  
 
 
(64,272)
 
 
69,455

Total assets less current liabilities
  
212,826
384,974

Creditors: amounts falling due after more than one year
 9 
(12,500)
(222,501)

  

Net assets
  
200,326
162,473


Capital and reserves
  

Called up share capital 
  
150
150

Share premium account
  
449,950
449,950

Profit and loss account
  
(249,774)
(287,627)

  
200,326
162,473


Page 1

 
VERMUTERIA LIMITED
REGISTERED NUMBER:11299116
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M W Sodeau
Director

Date: 5 November 2024

Page 2

 
VERMUTERIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Vermuteria Limited is a private company limited by shares incorporated in England and Wales. Its registered office address if Millhouse, 32-38 East Street, Rochford, Essex, England, SS4 1DB.
The principal activity of the company continuted to be that of restaurant services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents the sale of food and beverages and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, and value added tax.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
VERMUTERIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Trademarks
-
10
years

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
VERMUTERIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
15 years
Plant and machinery
-
25%
straight line
Fixtures and fittings
-
25%
and 33.33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stock consists of ingredients and goods purchased for resale and are stated at the lower of cost and net realisable value. Cost reflects the purchase price only.
At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 -33).

Page 5

 
VERMUTERIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




IP & Trademarks

£



Cost


At 1 April 2023
5,526



At 31 March 2024

5,526



Amortisation


At 1 April 2023
2,585


Charge for the year on owned assets
552



At 31 March 2024

3,137



Net book value



At 31 March 2024
2,389



At 31 March 2023
2,941



Page 6

 
VERMUTERIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
390,409
122,062
97,842
610,313


Additions
-
1,231
1,129
2,360



At 31 March 2024

390,409
123,293
98,971
612,673



Depreciation


At 1 April 2023
111,543
100,247
85,946
297,736


Charge for the year on owned assets
26,026
8,596
5,606
40,228



At 31 March 2024

137,569
108,843
91,552
337,964



Net book value



At 31 March 2024
252,840
14,450
7,419
274,709



At 31 March 2023
278,866
21,815
11,896
312,577


6.


Debtors

2024
2023
£
£

Due after more than one year

Deferred tax asset
51,750
82,552

51,750
82,552


2024
2023
£
£

Due within one year

Other debtors
36,586
28,024

Prepayments and accrued income
37,231
26,835

73,817
54,859


Page 7

 
VERMUTERIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
132,307
144,730

132,307
144,730



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Other loans
135,866
11,616

Trade creditors
63,107
68,530

Taxation and social security
39,225
40,478

Other creditors
30,872
29,607

Accruals and deferred income
56,626
62,086

335,696
222,317



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,500
22,501

Other loans
-
200,000

12,500
222,501


Other borrowings were secured by a fixed and floating charge over the assets of the company, which was settled in the year.

Page 8

 
VERMUTERIA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Other loans
135,866
11,616

Amounts falling due 1-2 years

Bank loans
12,500
10,001

Amounts falling due 2-5 years

Bank loans
-
12,500

Other loans
-
200,000


158,366
244,117


Other borrowings were secured by a fixed and floating charge over the assets of the company, which was settled in the year.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £10,170 (2023: £9,006) . Contributions totalling £1,937 (2023: £1,708) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9