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Registered number: 11555691
Nicosia Cafe Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
IAK ACCOUNTANTS AND CONSULTANTS LTD
Cuffley Place Office 112,
Sopers Road
Cuffley
EN6 4SG
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11555691
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,984 3,481
2,984 3,481
CURRENT ASSETS
Stocks 5 3,750 3,500
Debtors 6 250 3,050
Cash at bank and in hand 1,804 7,644
5,804 14,194
Creditors: Amounts Falling Due Within One Year 7 (16,414 ) (13,634 )
NET CURRENT ASSETS (LIABILITIES) (10,610 ) 560
TOTAL ASSETS LESS CURRENT LIABILITIES (7,626 ) 4,041
NET (LIABILITIES)/ASSETS (7,626 ) 4,041
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (7,627 ) 4,040
SHAREHOLDERS' FUNDS (7,626) 4,041
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Ayse Karagozlu
Director
30th May 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Nicosia Cafe Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11555691 . The registered office is 113 A Myddleton Road, Wood Green, London, N22 8NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% on cost
Fixtures & Fittings 10% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 October 2023 2,224 2,750 4,974
As at 30 September 2024 2,224 2,750 4,974
Depreciation
As at 1 October 2023 668 825 1,493
Provided during the period 222 275 497
As at 30 September 2024 890 1,100 1,990
...CONTINUED
Page 2
Page 3
Net Book Value
As at 30 September 2024 1,334 1,650 2,984
As at 1 October 2023 1,556 1,925 3,481
5. Stocks
2024 2023
£ £
Materials 3,750 3,500
6. Debtors
2024 2023
£ £
Due within one year
Other debtors (1) 250 3,050
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 394 526
Bank loans and overdrafts 5,903 10,602
Other taxes and social security 8 8
VAT 82 907
Accruals and deferred income 10,000 1,565
Director's loan account 27 26
16,414 13,634
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 3