Company Registration No. 09380884 (England and Wales)
BRAZIER COFFEE ROASTERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
BRAZIER COFFEE ROASTERS LIMITED
COMPANY INFORMATION
Directors
Mr T D Brazier
Ms C Kloeden
Company number
09380884
Registered office
Unit 10 Tonedale Mill Business Park
Wellington
Somerset
TA21 0AW
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
BRAZIER COFFEE ROASTERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BRAZIER COFFEE ROASTERS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
131,433
114,548
Current assets
Stocks
57,440
41,135
Debtors
4
53,627
61,420
Cash at bank and in hand
32,165
21,646
143,232
124,201
Creditors: amounts falling due within one year
5
(196,905)
(148,067)
Net current liabilities
(53,673)
(23,866)
Total assets less current liabilities
77,760
90,682
Creditors: amounts falling due after more than one year
6
(34,772)
(49,111)
Provisions for liabilities
(22,781)
(21,198)
Net assets
20,207
20,373
Capital and reserves
Called up share capital
7
20,000
20,000
Profit and loss reserves
207
373
Total equity
20,207
20,373
BRAZIER COFFEE ROASTERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have 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.
The financial statements were approved by the board of directors and authorised for issue on 18 October 2023 and are signed on its behalf by:
Mr T D Brazier
Director
Company Registration No. 09380884
BRAZIER COFFEE ROASTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
1
Accounting policies
Company information
Brazier Coffee Roasters Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover represents the total invoice value, excluding value added tax, of goods sold in the year.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Property improvements
10 Years straight line
Fixtures, fittings & equipment
Straight line or 10% reducing balance
Computer equipment
3 Years straight line
Motor vehicles
25% Reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and net realisable value.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.6
Taxation
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
BRAZIER COFFEE ROASTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.8
Government grants
Government grants are recognised at the fair value of the asset received 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 16 (2022 - 16).
3
Tangible fixed assets
Property improvements
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2022
8,931
158,596
3,699
11,442
182,668
Additions
11,501
16,211
1,298
29,010
At 31 January 2023
20,432
174,807
4,997
11,442
211,678
Depreciation and impairment
At 1 February 2022
56,639
3,095
8,386
68,120
Depreciation charged in the year
10,459
902
764
12,125
At 31 January 2023
67,098
3,997
9,150
80,245
Carrying amount
At 31 January 2023
20,432
107,709
1,000
2,292
131,433
At 31 January 2022
8,931
101,957
604
3,056
114,548
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
37,714
51,550
Other debtors
15,913
9,870
53,627
61,420
BRAZIER COFFEE ROASTERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
125,996
65,220
Trade creditors
46,292
48,606
Corporation tax
8,935
5,293
Other taxation and social security
12,922
8,033
Other creditors
810
19,165
Accruals and deferred income
1,950
1,750
196,905
148,067
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
34,772
49,111
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £10000 each
20,000
20,000
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr T D Brazier -
-
4,685
7,670
(4,685)
7,670
Ms C Kloeden -
-
4,685
7,669
(4,685)
7,669
9,370
15,339
(9,370)
15,339