Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-3177841true2023-02-18falseRestaurant/cafe5trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14673682 2023-02-17 14673682 2023-02-18 2024-07-31 14673682 2022-02-18 2023-02-17 14673682 2024-07-31 14673682 c:Director1 2023-02-18 2024-07-31 14673682 c:Director2 2023-02-18 2024-07-31 14673682 d:Buildings d:ShortLeaseholdAssets 2023-02-18 2024-07-31 14673682 d:Buildings d:ShortLeaseholdAssets 2024-07-31 14673682 d:PlantMachinery 2023-02-18 2024-07-31 14673682 d:PlantMachinery 2024-07-31 14673682 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-18 2024-07-31 14673682 d:FurnitureFittings 2023-02-18 2024-07-31 14673682 d:FurnitureFittings 2024-07-31 14673682 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-18 2024-07-31 14673682 d:OfficeEquipment 2023-02-18 2024-07-31 14673682 d:OfficeEquipment 2024-07-31 14673682 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-18 2024-07-31 14673682 d:OwnedOrFreeholdAssets 2023-02-18 2024-07-31 14673682 d:CurrentFinancialInstruments 2024-07-31 14673682 d:Non-currentFinancialInstruments 2024-07-31 14673682 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 14673682 d:ShareCapital 2024-07-31 14673682 d:RetainedEarningsAccumulatedLosses 2024-07-31 14673682 c:FRS102 2023-02-18 2024-07-31 14673682 c:AuditExempt-NoAccountantsReport 2023-02-18 2024-07-31 14673682 c:FullAccounts 2023-02-18 2024-07-31 14673682 c:PrivateLimitedCompanyLtd 2023-02-18 2024-07-31 14673682 e:PoundSterling 2023-02-18 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 14673682









SALTA EMPANADAS SHOREDITCH LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2024

 
SALTA EMPANADAS SHOREDITCH LTD
REGISTERED NUMBER: 14673682

BALANCE SHEET
AS AT 31 JULY 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
29,210

Current assets
  

Stocks
 5 
1,250

Debtors: amounts falling due after more than one year
 6 
8,666

Debtors: amounts falling due within one year
 6 
8,387

Cash at bank and in hand
 7 
9,322

  
27,625

Creditors: amounts falling due within one year
 8 
(64,587)

Net current liabilities
  
 
 
(36,962)

  

Net liabilities
  
(7,752)


Capital and reserves
  

Called up share capital 
  
3

Profit and loss account
  
(7,755)

  
(7,752)


Page 1

 
SALTA EMPANADAS SHOREDITCH LTD
REGISTERED NUMBER: 14673682
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 period 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 comprehensive income 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 on 15 November 2024.




I R Martinez
N F Buyo
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SALTA EMPANADAS SHOREDITCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.


General information

Salta Empanadas Shoreditch Ltd is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is 153a Harvist Road, Flat A, London, NW6 6HB. The principal place of business is 65A Rivington St, EC2A 3QQ. The principal business activity was that of a catering outlet. The company incorporated on 18 February 2023 and commenced trading 1 June 2023.

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 accounts have been prepared for a 14 month period for trading reasons.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue 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, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SALTA EMPANADAS SHOREDITCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

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.

 
2.5

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.

 
2.6

Taxation

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.

Page 4

 
SALTA EMPANADAS SHOREDITCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Term of lease
Plant and machinery
-
25%
Fixtures and fittings
-
25%
Office equipment
-
25%

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.

 
2.8

Stocks

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

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the
Page 5

 
SALTA EMPANADAS SHOREDITCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the period was 5.


4.


Tangible fixed assets





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

£
£
£
£
£



Cost or valuation


Additions
6,643
8,899
22,571
720
38,833



At 31 July 2024

6,643
8,899
22,571
720
38,833



Depreciation


Charge for the period on owned assets
664
2,421
6,407
131
9,623



At 31 July 2024

664
2,421
6,407
131
9,623



Net book value



At 31 July 2024
5,979
6,478
16,164
589
29,210


5.


Stocks

2024
£

Finished goods and goods for resale
1,250


Page 6

 
SALTA EMPANADAS SHOREDITCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

6.


Debtors

2024
£

Due after more than one year

Other debtors
8,666


2024
£

Due within one year

Trade debtors
2,791

Prepayments and accrued income
5,596

8,387



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
9,322



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
7,874

Other taxation and social security
2,570

Other creditors
51,910

Accruals and deferred income
2,233

64,587



9.


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 £1,043. Contributions totalling £180 were payable to the fund at the balance sheet date and are included in creditors.

Page 7

 
SALTA EMPANADAS SHOREDITCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

10.


Related party transactions


2024
£

Amounts due to connected parties
47,458
Purchases from connected parties
67,841
Re-charges from connected parties
10,000

Loans with connected companies are repayable on demand and interest free.

 
Page 8