Registered number
10185565
Sun Cafe Ltd
Filleted Accounts
31 May 2024
Sun Cafe Ltd
Registered number: 10185565
Director's Report
The director presents his report and accounts for the year ended 31 May 2024.
Principal activities
The company's principal activity during the year continued to be café and sandwich shop
Directors
The following persons served as directors during the year:
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 7 February 2025 and signed on its behalf.
K Yaman
Director
Sun Cafe Ltd
Registered number: 10185565
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,697 12,120
Current assets
Stocks 3,350 1,200
Debtors 4 691 -
Cash at bank and in hand 35,115 27,241
39,156 28,441
Non-Current Assets-Loan Receivable 498,329 319,515
5 (68,045) (80,324)
(28,889) (51,883)
Total assets less current liabilities 479,137 279,752
Creditors: amounts falling due after more than one year 6 (14,532) (23,446)
Net assets 464,605 256,306
Capital and reserves
Called up share capital 1 1
Profit and loss account 464,604 256,305
Shareholder's funds 464,605 256,306
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Yaman
Director
Approved by the board on 7 February 2025
Sun Cafe Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 11
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 17,698
At 31 May 2024 17,698
Depreciation
At 1 June 2023 5,578
Charge for the year 2,423
At 31 May 2024 8,001
Net book value
At 31 May 2024 9,697
At 31 May 2023 12,120
4 Debtors 2024 2023
£ £
Trade debtors 691 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,406 25,662
Taxation and social security costs 72,255 42,442
Other creditors (5,616) 12,220
68,045 80,324
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,532 23,446
7 Other information
Sun Cafe Ltd is a private company limited by shares and incorporated in England. Its registered office is:
8 Non-Current Assests - Loan Receivable
During the year, the company provided a loan of £155099.85 to Kem & Tan Ltd, in which Mr K Yaman is a partner. This loan is considered a related party transaction under FRS 102 Section 33 / IFRS IAS 24.
The loan was issued several times and total loan is £155099.85 on during the company financial year end 31 May 2024.
It is repayable on over 5 years.
The loan carries an interest rate of 5 % per annum.
The outstanding loan balance as of 31 May 2024 is £498329.10.
The transaction was carried out on commercial terms and was approved by the board of directors.
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