REGISTERED NUMBER: 07137780 (England and Wales)

The Heavenly Coffee Company Limited

Unaudited Financial Statements for the Year Ended 28 February 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs K L Evans

Mr L B T Evans

REGISTERED OFFICE:

5 Redwood Court

Dinnington

Sheffield

South Yorkshire

S25 3NQ

REGISTERED NUMBER:

07137780 (England and Wales)

ACCOUNTANTS:

SMH Haywood & Co Limited

24-26 Mansfield Road

Rotherham

South Yorkshire

S60 2DT

FIXED ASSETS

Intangible assets

3

20,812

31,218

Tangible assets

4

110,840

109,850

131,652

141,068

CURRENT ASSETS

Stocks

158,006

90,404

Debtors

5

180,933

156,033

Cash at bank and in hand

70,893

101,195

409,832

347,632

CREDITORS

Amounts falling due within one year

6

(195,044

)

(235,724

)

NET CURRENT ASSETS

214,788

111,908

TOTAL ASSETS LESS CURRENT LIABILITIES

346,440

252,976

CREDITORS

Amounts falling due after more than one year

7

(55,574

)

(56,775

)

PROVISIONS FOR LIABILITIES

(20,181

)

(20,776

)

NET ASSETS

270,685

175,425

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

270,683

175,423

SHAREHOLDERS' FUNDS

270,685

175,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by:

Mrs K L Evans - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

15% on cost

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 Income Statement, 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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2022

and 28 February 2023

103,000

AMORTISATION

At 1 March 2022

71,782

Charge for year

10,406

At 28 February 2023

82,188

NET BOOK VALUE

At 28 February 2023

20,812

At 28 February 2022

31,218

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2022

187,479

Additions

34,503

Disposals

(33,632

)

At 28 February 2023

188,350

DEPRECIATION

At 1 March 2022

77,629

Charge for year

19,943

Eliminated on disposal

(20,062

)

At 28 February 2023

77,510

NET BOOK VALUE

At 28 February 2023

110,840

At 28 February 2022

109,850

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

173,120

145,014

Other debtors

7,813

11,019

180,933

156,033

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

16,927

14,295

Hire purchase contracts (see note 8)

6,803

2,326

Trade creditors

114,520

182,660

Taxation and social security

52,436

32,531

Other creditors

4,358

3,912

195,044

235,724

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

42,536

56,775

Hire purchase contracts (see note 8)

13,038

-

55,574

56,775

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023

2022

£

£

Net obligations repayable:

Within one year

6,803

2,326

Between one and five years

13,038

-

19,841

2,326