REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kynance Cafe Limited |
|
Unaudited Financial Statements |
|
for the Year Ended 31 October 2020 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kynance Cafe Limited |
|
Unaudited Financial Statements |
|
for the Year Ended 31 October 2020 |
|
|
|
|
|
Kynance Cafe Limited (Registered number: 07245214) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 October 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Kynance Cafe Limited |
|
Company Information |
for the Year Ended 31 October 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
ACCOUNTANTS: |
|
Lakeside Offices |
The Old Cattle Market |
Coronation Park |
Helston |
Cornwall |
TR13 0SR |
|
|
|
BANKERS: |
|
Market Place |
Helston |
Cornwall |
TR13 8SU |
Kynance Cafe Limited (Registered number: 07245214) |
|
Balance Sheet |
31 October 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
|
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Kynance Cafe Limited (Registered number: 07245214) |
|
Balance Sheet - continued |
31 October 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
Kynance Cafe Limited (Registered number: 07245214) |
|
Notes to the Financial Statements |
for the Year Ended 31 October 2020 |
|
1. | STATUTORY INFORMATION |
|
Kynance Cafe Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Goodwill |
|
|
Tangible fixed assets |
|
Cafe equipment | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
|
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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Kynance Cafe Limited (Registered number: 07245214) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2020 |
|
2. | ACCOUNTING POLICIES - continued |
|
Going concern |
At the balance sheet date the UK has been significantly impacted by the Covid-19 pandemic. The impact on many businesses and sectors across the UK, Europe and the globe have been unprecedented, and at the date of these financial statements, the outcome of the outbreak still remains uncertain. |
|
The significant cash reserves within the company, as well as the strong balance sheet position, has resulted in the directors' conclusion that the long-term impact on the company should be minimal. Therefore, the directors anticipate that the company will continue to operate within its available resources, and be able to tolerate a reasonable level of unforeseen circumstance for a period of at least 12 months from the date of these financial statements. The financial statements have therefore been prepared on a going concern basis. |
|
Government grants |
Government grants are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
|
Other forms of Government assistance from which the company has benefited are disclosed in the notes to the financial statements. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2019 |
and 31 October 2020 |
|
AMORTISATION |
At 1 November 2019 |
|
Charge for year |
|
At 31 October 2020 |
|
NET BOOK VALUE |
At 31 October 2020 |
|
At 31 October 2019 |
|
|
5. | TANGIBLE FIXED ASSETS |
Cafe | Motor | Computer |
equipment | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2019 |
|
|
|
|
Additions |
|
|
|
|
At 31 October 2020 |
|
|
|
|
DEPRECIATION |
At 1 November 2019 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 October 2020 |
|
|
|
|
NET BOOK VALUE |
At 31 October 2020 |
|
|
|
|
At 31 October 2019 |
|
|
|
|
Kynance Cafe Limited (Registered number: 07245214) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2020 |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
|
|
|
9. | GOVERNMENT GRANTS |
|
During the year, the company received a Government grant of £521 to cover interest on the initial period of a bank loan. This has been included within Other Operating Income. |
|
During the year, the company took out a bank loan for which the Government has provided a 100% guarantee in respect of the outstanding balance. The balance outstanding at the Balance Sheet Date is £50,000. |