A & G Caffe Vero Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 07109401

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		45,679		57,139

			45,679		57,139
CURRENT ASSETS
Stocks	4	69,822		64,169
Debtors	5	72,538		92,013

		142,360		156,182
Creditors: Amounts Falling Due Within One Year	6	(126,462 )		(120,473 )

NET CURRENT ASSETS (LIABILITIES)			15,898		35,709

TOTAL ASSETS LESS CURRENT LIABILITIES			61,577		92,848

Creditors: Amounts Falling Due After More Than One Year	7		(20,698 )		(38,789 )

NET ASSETS			40,879		54,059

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			40,779		53,959

SHAREHOLDERS' FUNDS			40,879		54,059

Page 1

Balance Sheet (continued)

As at 31 December 2017

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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

Mr Luca Caoduro

17/08/2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. 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.

1.3. 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:

Motor Vehicles	- 25% on reducing balance
Fixtures & Fittings	- 20% on reducing balance

1.4. 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.

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A & G Caffe Vero Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

1.5. 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 year 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 asset reflects 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.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 6 (2016: 6).

3. Tangible Assets


	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2017	2,018	117,380	119,398

As at 31 December 2017	2,018	117,380	119,398

Depreciation
As at 1 January 2017	1,379	60,880	62,259
Provided during the period	160	11,300	11,460

As at 31 December 2017	1,539	72,180	73,719

Net Book Value
As at 31 December 2017	479	45,200	45,679

As at 1 January 2017	639	56,500	57,139

4. Stocks

	2017	2016
	£	£
Stocks	69,822	64,169

	69,822	64,169

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A & G Caffe Vero Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

5. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	49,384	71,808
Prepayments and accrued income	3,487	4,234
Other debtors	18,907	14,815
VAT	760	1,156

	72,538	92,013

6. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Trade creditors	70,359	58,470
Bank loans and overdrafts	29,703	27,947
Corporation tax	8,174	16,200
Other taxes and social security	7,108	3,796
Accruals and deferred income	7,098	5,927
Directors' loan accounts	4,020	8,133

	126,462	120,473

7. Creditors: Amounts Falling Due After More Than One Year

	2017	2016
	£	£
Bank loans	20,698	38,789

8. Share Capital

	2017		2016
Allotted, Called up and fully paid	100		100

9. Dividends

	2017	2016
	£	£
On equity shares:
Interim dividend paid	6,000	6,000

	6,000	6,000

10. Ultimate Controlling Party

The company's ultimate controlling party is Mrs Fiorenza Girone by virtue of ownership of 75% of the issued share capital in the company.

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A & G Caffe Vero Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

11. General Information

A & G Caffe Vero Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07109401. The registered office is Unit 22, Private Road 2, Colwick Industrial Estate, Nottingham, Nottinghamshire, NG4 2JR.

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