Company Registration No. 09266974 (England and Wales)
CONTINENTALS COFFEE SHOP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2021
31 March 2021
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
CONTINENTALS COFFEE SHOP LTD
COMPANY INFORMATION
Director
Mrs P Ibrahim
Company number
09266974
Registered office
5 Cornholme
Burnley
Lancashire
BB10 2DX
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
CONTINENTALS COFFEE SHOP LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
CONTINENTALS COFFEE SHOP LTD
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
4,667
5,667
Tangible assets
4
3,969
4,668
8,636
10,335
Current assets
Stocks
400
400
Debtors
5
10,000
Cash at bank and in hand
3,768
100
4,168
10,500
Creditors: amounts falling due within one year
6
(36,794)
(59,759)
Net current liabilities
(32,626)
(49,259)
Total assets less current liabilities
(23,990)
(38,924)
Creditors: amounts falling due after more than one year
7
(12,340)
Net liabilities
(36,330)
(38,924)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(36,331)
(38,925)
Total equity
(36,330)
(38,924)
The notes on pages 3 to 5 form part of these financial statements.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CONTINENTALS COFFEE SHOP LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2021
31 March 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 13 July 2022
Mrs P Ibrahim
Director
Company Registration No. 09266974
CONTINENTALS COFFEE SHOP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 3 -
1
Accounting policies
Company information
Continentals Coffee Shop Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
5 Cornholme, Burnley, Lancashire, BB10 2DX.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he director has a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents net sales of goods.
1.4
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of 10 years.
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% reducing balance
1.6
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obselete and slow moving items.
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
CONTINENTALS COFFEE SHOP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
5
5
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2020 and 31 March 2021
10,000
Amortisation and impairment
At 1 April 2020
4,333
Amortisation charged for the year
1,000
At 31 March 2021
5,333
Carrying amount
At 31 March 2021
4,667
At 31 March 2020
5,667
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2020 and 31 March 2021
11,145
Depreciation and impairment
At 1 April 2020
6,477
Depreciation charged in the year
699
At 31 March 2021
7,176
Carrying amount
At 31 March 2021
3,969
At 31 March 2020
4,668
CONTINENTALS COFFEE SHOP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 5 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
10,000
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
2,660
2,498
Taxation and social security
651
9,503
Other creditors
33,483
47,758
36,794
59,759
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
12,340