Island Village Cafe Limited

	Page
Accountants' Report	1
Balance Sheet	2—3
Notes to the Financial Statements	4—7

Report to the director on the preparation of the unaudited statutory accounts of Island Village Cafe Limited for the year ended 30 September 2024

To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Island Village Cafe Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made to the director of Island Village Cafe Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Island Village Cafe Limited and state those matters that we have agreed to state to the director of Island Village Cafe Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Island Village Cafe Limited and its director as a body for our work or for this report.

It is your duty to ensure that Island Village Cafe Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Island Village Cafe Limited . You consider that Island Village Cafe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Island Village Cafe Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

28 April 2025

Affinity Associates (Richmond) Limited

Accountants and Statutory Auditors

151 Sheen Lane

East Sheen

London

SW14 8LR

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Island Village Cafe Limited

Balance Sheet

As At 30 September 2024

Balance Sheet

Registered number: 05504605

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		390,673		380,988

			390,673		380,988
CURRENT ASSETS
Stocks	6	7,250		7,250
Debtors	7	476,073		314,796
Cash at bank and in hand		102,516		163,962

		585,839		486,008
Creditors: Amounts Falling Due Within One Year	8	(177,842 )		(189,823 )

NET CURRENT ASSETS (LIABILITIES)			407,997		296,185

TOTAL ASSETS LESS CURRENT LIABILITIES			798,670		677,173

PROVISIONS FOR LIABILITIES
Deferred Taxation			(13,422 )		(4,495 )

NET ASSETS			785,248		672,678

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			785,247		672,677

SHAREHOLDERS' FUNDS			785,248		672,678

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Island Village Cafe Limited

Balance Sheet (continued)

As At 30 September 2024

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

Ms Harriet Thomas

Director

28 April 2025

The notes on pages 4 to 7 form part of these financial statements.

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Island Village Cafe Limited

Notes to the Financial Statements

For The Year Ended 30 September 2024

Notes to the Financial Statements

1. General Information

Island Village Cafe Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05504605 . The registered office is 9 Times Mews, Totnes, TQ9 5HF.

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. Going Concern Disclosure

The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.

2.3. 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.

2.4. 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:

Leasehold	No depreciation
Plant & Machinery	25% RBM
Motor Vehicles	25% RBM
Fixtures & Fittings	25% RBM
Computer Equipment	33.33% RBM

2.5. 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.

2.6. 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.

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.

...CONTINUED

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Island Village Cafe Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

2.6. Financial Instruments - continued

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.

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 23 (2023: 23)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 October 2023	561,381

As at 30 September 2024	561,381

Amortisation
As at 1 October 2023	561,381

As at 30 September 2024	561,381

Net Book Value
As at 30 September 2024	-

As at 1 October 2023	-

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Island Village Cafe Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 October 2023	304,258	103,502	20,078	160,933
Additions	-	13,205	-	15,512

As at 30 September 2024	304,258	116,707	20,078	176,445

Depreciation
As at 1 October 2023	-	60,302	7,363	143,574
Provided during the period	-	11,982	3,179	6,059

As at 30 September 2024	-	72,284	10,542	149,633

Net Book Value
As at 30 September 2024	304,258	44,423	9,536	26,812

As at 1 October 2023	304,258	43,200	12,715	17,359


	Computer Equipment	Total
	£	£
Cost
As at 1 October 2023	11,346	600,117
Additions	4,007	32,724

As at 30 September 2024	15,353	632,841

Depreciation
As at 1 October 2023	7,890	219,129
Provided during the period	1,819	23,039

As at 30 September 2024	9,709	242,168

Net Book Value
As at 30 September 2024	5,644	390,673

As at 1 October 2023	3,456	380,988

6. Stocks

	2024	2023
	£	£
Stock	7,250	7,250

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Island Village Cafe Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	44,687	2,816
Due after more than one year
Amounts owed by group undertakings	431,386	311,980

	476,073	314,796

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	50,709	11,202
Bank loans and overdrafts	500	33,680
Amounts owed to group undertakings	17,414	174
Other creditors	1,602	32,097
Taxation and social security	107,617	112,670

	177,842	189,823

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

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