Company registration number SC390599 (Scotland)
CAFE ANDALUZ RESTAURANTS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 APRIL 2024
CAFE ANDALUZ RESTAURANTS LIMITED
CONTENTS
Page
Company information
1
Strategic report
2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 20
CAFE ANDALUZ RESTAURANTS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr M L Gizzi
Mr A G F Conetta
Company number
SC390599
Registered office
C/O Consilium Chartered Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
Auditor
Consilium Audit Limited
169 West George Street
Glasgow
Scotland
G2 2LB
Business address
2nd floor
87 St Vincent Street
Glasgow
Scotland
G2 5TF
Solicitor
Burness Paull LLP
31 York Street
Glasgow
Scotland
G2 8AS
CAFE ANDALUZ RESTAURANTS LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 28 APRIL 2024
- 2 -

The directors present the strategic report for the period ended 28 April 2024.

REVIEW OF BUSINESS

During the course of the period the Company continued to act as restaurateurs. The turnover of the Company increased by 7% and profits before tax decreased from £3,480k to £3,267k.

 

At the period end the Company had shareholders funds of £3,375k. The directors therefore believe the Company's position to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have assessed the main risk facing the company as being from the increased food and beverage costs, energy costs and competition from other restaurateurs.

 

The directors believe that the quality of products and customer service will help mitigate this risk and hope to see continued growth and satisfactory trading results in the coming year.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The company makes little use of financial instruments other than an operational bank account and other loans therefore its exposure to price risk, credit risk, liquidity risk and cash flow risk is not material for the assessment of the assets, liabilities, financial position and profit or loss of the company.

On behalf of the board

Mr M L Gizzi
Director
27 January 2025
CAFE ANDALUZ RESTAURANTS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 28 APRIL 2024
- 3 -

The directors present their annual report and financial statements for the period ended 28 April 2024.

Principal activities

The principal activity of the company continued to be that of restaurateurs.

Results and dividends

The results for the period are set out on page 8.

Ordinary dividends were paid amounting to £2,410,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

Mr M L Gizzi
Mr A G F Conetta
Auditor

The auditor, Consilium Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

The directors are responsible for the maintenance and integrity of the company website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

CAFE ANDALUZ RESTAURANTS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
- 4 -
On behalf of the board
Mr M L Gizzi
Director
27 January 2025
CAFE ANDALUZ RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CAFE ANDALUZ RESTAURANTS LIMITED
- 5 -
Opinion

We have audited the financial statements of Cafe Andaluz Restaurants Limited (the 'company') for the period ended 28 April 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

CAFE ANDALUZ RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CAFE ANDALUZ RESTAURANTS LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors' report.

 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

CAFE ANDALUZ RESTAURANTS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF CAFE ANDALUZ RESTAURANTS LIMITED
- 7 -

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including

fraud and non-compliance with laws and regulations, was as follows:

 

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they

may involve deliberate concealment or collusion.

 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

 

 

 

Brian Thomson BA(Hons) CA
Senior Statutory Auditor
For and on behalf of Consilium Audit Limited
Statutory Auditor
169 West George Street
Glasgow
Scotland
G2 2LB
27 January 2025
CAFE ANDALUZ RESTAURANTS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 28 APRIL 2024
- 8 -
Period
Period
ended
ended
28 April
30 April
2024
2023
Notes
£
£
Turnover
2
16,720,450
15,652,340
Cost of sales
(4,109,941)
(4,005,396)
Gross profit
12,610,509
11,646,944
Administrative expenses
(9,422,968)
(8,174,639)
Other operating income
21,178
7,930
Profit before taxation
3,208,719
3,480,235
Tax on profit
5
(815,811)
(684,150)
Profit for the financial period
2,392,908
2,796,085

The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.

The notes on pages 11 to 20 form part of these financial statements.

CAFE ANDALUZ RESTAURANTS LIMITED
BALANCE SHEET
AS AT
28 APRIL 2024
28 April 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
7
2,405,555
1,514,859
Current assets
Stocks
8
120,359
89,767
Debtors
9
318,337
36,696
Cash at bank and in hand
394,393
757,482
833,089
883,945
Creditors: amounts falling due within one year
10
(2,776,277)
(2,127,089)
Net current liabilities
(1,943,188)
(1,243,144)
Total assets less current liabilities
462,367
271,715
Provisions for liabilities
Deferred tax liability
11
371,635
163,891
(371,635)
(163,891)
Net assets
90,732
107,824
Capital and reserves
Called up share capital
13
100
100
Profit and loss reserves
90,632
107,724
Total equity
90,732
107,824

The notes on pages 11 to 20 form part of these financial statements.

The financial statements were approved by the board of directors and authorised for issue on 27 January 2025 and are signed on its behalf by:
Mr M L Gizzi
Mr A G F Conetta
Director
Director
Company Registration No. SC390599
CAFE ANDALUZ RESTAURANTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 28 APRIL 2024
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 2 May 2022
100
101,639
101,739
Period ended 30 April 2023:
Profit and total comprehensive income for the period
-
2,796,085
2,796,085
Dividends
6
-
(2,790,000)
(2,790,000)
Balance at 30 April 2023
100
107,724
107,824
Period ended 28 April 2024:
Profit and total comprehensive income for the period
-
2,392,908
2,392,908
Dividends
6
-
(2,410,000)
(2,410,000)
Balance at 28 April 2024
100
90,632
90,732

The notes on pages 11 to 20 form part of these financial statements.

CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 APRIL 2024
- 11 -
1
Accounting policies
Company information

Cafe Andaluz Restaurants Limited is a private company limited by shares incorporated in Scotland. The registered office is C/O Consilium Chartered Accountants, 169 West George Street, Glasgow, United Kingdom, G2 2LB. The principal place of business is 2nd floor, 87 St Vincent Street, Glasgow, Scotland, G2 5TF. The company's registration number is SC390599.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Di Maggio's Group Limited. These consolidated financial statements are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

The company prepares these financial statements for a 52 week period to 28 April 2024. The comparative figures are the 52 weeks to 30 April 2023.

1.4
Turnover

The turnover shown in the Statement of Comprehensive Income represents the value of all goods sold during the period at a selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 12 -

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
15% reducing balance
Fixtures and fittings
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stock consists of food and beverage and is valued on a first-in, first-out basis.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss account, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 13 -
Impairment of financial assets

Financial assets, other than those held at fair value through the profit and loss account are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the profit and loss account.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss account.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss account in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit and loss account. Debt instruments may be designated as being measured at fair value through the profit and loss account to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 14 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the Income Statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
1
Accounting policies
(Continued)
- 15 -
1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Restaurant income
16,720,450
15,652,340
2024
2023
£
£
Other revenue
Grants received
21,178
7,930

All income arose from sales within the United Kingdom.

3
Operating profit
2024
2023
Operating profit for the period is stated after charging/(crediting):
£
£
Government grants
(21,178)
(7,930)
Fees payable to the company's auditor for the audit of the company's financial statements
40,622
12,350
Depreciation of owned tangible fixed assets
302,525
267,264
Operating lease charges
751,333
662,200
4
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Restaurant staff
290
298
CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
4
Employees
(Continued)
- 16 -

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
5,155,466
4,473,776
Social security costs
394,393
332,952
Pension costs
71,877
65,672
5,621,736
4,872,400

The company considers key management to be the directors of the company. The key management are remunerated through another group company.

5
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
608,067
707,205
Deferred tax
Origination and reversal of timing differences
207,744
(23,055)
Total tax charge
815,811
684,150

The actual charge for the period can be reconciled to the expected charge for the period based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
3,208,719
3,480,235
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.50%)
802,180
678,646
Effect of change in corporation tax rate
-
0
(195)
Permanent capital allowances in excess of depreciation
13,631
-
0
Depreciation on assets not qualifying for tax allowances
-
0
10,776
Deferred tax at different rate
-
0
(5,077)
Taxation charge for the period
815,811
684,150
CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
5
Taxation
(Continued)
- 17 -

From 1 April 2023 the Corporation Tax rate increased the main rate to 25%. In addition, the standard small profits rate is reintroduced to ensure that companies with small profits pay corporation tax at a lower rate. During the period to 30 April 2023 a hybrid rate of 19.5% has been used to calculate the tax charge.

6
Dividends
2024
2023
£
£
Final paid
2,410,000
2,790,000
7
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 May 2023
895,064
4,050,476
4,945,540
Additions
218,092
975,129
1,193,221
At 28 April 2024
1,113,156
5,025,605
6,138,761
Depreciation and impairment
At 1 May 2023
581,910
2,848,771
3,430,681
Depreciation charged in the period
60,601
241,924
302,525
At 28 April 2024
642,511
3,090,695
3,733,206
Carrying amount
At 28 April 2024
470,645
1,934,910
2,405,555
At 30 April 2023
313,154
1,201,705
1,514,859
8
Stocks
2024
2023
£
£
Finished goods and goods for resale
120,359
89,767
9
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
292,823
23,309
Prepayments and accrued income
25,514
13,387
318,337
36,696
CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
- 18 -
10
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
518,597
546,742
Amounts owed to group undertakings
795,000
235,000
Taxation and social security
789,632
668,658
Other creditors
11,587
9,866
Accruals and deferred income
661,461
666,823
2,776,277
2,127,089
11
Deferred taxation

The following are the major deferred tax liabilities recognised by the company and movements thereon:

2024
2023
Balances:
£
£
Accelerated capital allowances
371,635
163,891
2024
Movements in the period:
£
Liability at 1 May 2023
163,891
Charge to profit or loss
207,744
Liability at 28 April 2024
371,635
12
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
71,877
65,672

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

13
Share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1
100
100
CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
- 19 -
14
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
403,125
485,000
Between two and five years
200,000
1,660,000
In over five years
-
0
1,838,333
603,125
3,983,333
CAFE ANDALUZ RESTAURANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 APRIL 2024
- 20 -
15
Related party transactions

The company has taken advantage of the provisions of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" not to disclose transactions with other wholly owned group companies as the company is included in the consolidated financial statements of Di Maggio's Group Limited.

 

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

16
Ultimate controlling party

The company was under the control of the holders of the ordinary share capital in the ultimate parent company, Di Maggio's Group Limited, throughout the current and prior period. No individual shareholder has a controlling interest.

 

The company is included by full consolidation in the consolidated financial statements of its ultimate parent, Di Maggio's Group Limited, registered in Scotland, at the same address as the company.

 

Copies of the consolidated financial statements are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

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