Tower Cafe St Mary's Limited 07528824 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of a cafe. Digita Accounts Production Advanced 6.30.9574.0 true true 07528824 2023-03-01 2024-02-29 07528824 2024-02-29 07528824 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 07528824 core:PlantMachinery 2024-02-29 07528824 bus:SmallEntities 2023-03-01 2024-02-29 07528824 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07528824 bus:FilletedAccounts 2023-03-01 2024-02-29 07528824 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07528824 bus:RegisteredOffice 2023-03-01 2024-02-29 07528824 bus:Director2 2023-03-01 2024-02-29 07528824 bus:Director4 2023-03-01 2024-02-29 07528824 bus:Director5 2023-03-01 2024-02-29 07528824 bus:CompanyLimitedByGuarantee 2023-03-01 2024-02-29 07528824 core:PlantMachinery 2023-03-01 2024-02-29 07528824 countries:AllCountries 2023-03-01 2024-02-29 07528824 2023-02-28 07528824 core:PlantMachinery 2023-02-28 07528824 2022-03-01 2023-02-28 07528824 2023-02-28 07528824 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07528824 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 07528824

Tower Cafe St Mary's Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Tower Cafe St Mary's Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Tower Cafe St Mary's Limited

Company Information

Directors

Canon Dennis John Parry

Dr Elizabeth Parry

Mark Clavier

Registered office

Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

Accountants

King Morter Proud & Co Limited
Chartered Accountants
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

 

Tower Cafe St Mary's Limited

(Registration number: 07528824)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,505

2,149

Current assets

 

Stocks

5

350

350

Cash at bank and in hand

 

7,442

13,144

 

7,792

13,494

Creditors: Amounts falling due within one year

6

(9,297)

(15,643)

Net current liabilities

 

(1,505)

(2,149)

Net assets/(liabilities)

 

-

-

Reserves

 

Surplus/(deficit)

 

-

-

For the financial year ending 29 February 2024 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 18 November 2024 and signed on its behalf by:
 

.........................................
Canon Dennis John Parry
Director

 

Tower Cafe St Mary's Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Kings Arms Vaults
Watton
Brecon
Powys
LD3 7EF

These financial statements were authorised for issue by the Board on 18 November 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 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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Tower Cafe St Mary's Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

Plant & machinery

30% per annum on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 10 (2023 - 10).

 

Tower Cafe St Mary's Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

10,744

10,744

At 29 February 2024

10,744

10,744

Depreciation

At 1 March 2023

8,595

8,595

Charge for the year

644

644

At 29 February 2024

9,239

9,239

Carrying amount

At 29 February 2024

1,505

1,505

At 28 February 2023

2,149

2,149

5

Stocks

2024
£

2023
£

Other inventories

350

350

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

590

1,504

Taxation and social security

4,522

1,475

Other creditors

4,185

12,664

9,297

15,643

7

Share capital

The company is limited by guarantee. Therefore, it does not have any share capital. The directors are liable to pay no more than £1 towards the liabilities in the event of winding up the company.

 

Tower Cafe St Mary's Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

The cafe uses the premises of St Mary's Church, Brecon, and pays the church for heating and electricity costs incurred while the cafe is open. All surpluses made by the cafe are donated to St Mary's Church, Brecon, which came to £206 in 2024 (2023 £1,191).