Company Registration No. 06252199 (England and Wales)
Baxter Baristas Ltd
Unaudited accounts
for the year ended 31 July 2023
Baxter Baristas Ltd
Unaudited accounts
Contents
Baxter Baristas Ltd
Company Information
for the year ended 31 July 2023
Director
Steven James Prime
Secretary
Sarah Helen Matragrano
Company Number
06252199 (England and Wales)
Registered Office
68 Yardley Road
Acocks Green
Birmingham
B27 6LG
Accountants
Integritax Accountants Ltd
68 Yardley Road
Acocks Green
Birmingham
B27 6LG
Baxter Baristas Ltd
Statement of financial position
as at 31 July 2023
Intangible assets
2,941
3,753
Tangible assets
60,741
75,340
Cash at bank and in hand
31,248
83,338
Creditors: amounts falling due within one year
(115,378)
(186,259)
Net current (liabilities)/assets
(66,592)
82,429
Total assets less current liabilities
(2,910)
161,522
Creditors: amounts falling due after more than one year
(43,641)
(38,782)
Provisions for liabilities
Deferred tax
(11,960)
(13,022)
Net (liabilities)/assets
(58,511)
109,718
Called up share capital
90,000
90,000
Profit and loss account
(148,511)
19,718
Shareholders' funds
(58,511)
109,718
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 November 2023 and were signed on its behalf by
Steven James Prime
Director
Company Registration No. 06252199
Baxter Baristas Ltd
Notes to the Accounts
for the year ended 31 July 2023
Baxter Baristas Ltd is a private company, limited by shares, registered in England and Wales, registration number 06252199. The registered office is 68 Yardley Road, Acocks Green, Birmingham, B27 6LG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
A franchise fee, paid upon the acquisition of the business in 2008, has been fully amortised over it's useful life of five years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant and machinery: 20% on reducing balance, 20% straight line basis, 15% on reducing balance and 10% straight line balance.
Motor vehicles: 25% on reducing balance
Other intangible fixed assets: 20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Baxter Baristas Ltd
Notes to the Accounts
for the year ended 31 July 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 August 2022
252,621
32,500
285,121
Disposals
-
(5,213)
(5,213)
At 31 July 2023
258,764
27,287
286,051
At 1 August 2022
208,427
1,354
209,781
Charge for the year
10,342
5,187
15,529
At 31 July 2023
218,769
6,541
225,310
At 31 July 2023
39,995
20,746
60,741
At 31 July 2022
44,194
31,146
75,340
Amounts falling due within one year
Trade debtors
6,442
10,502
Amounts due from group undertakings etc.
-
164,887
Accrued income and prepayments
5,125
5,908
Baxter Baristas Ltd
Notes to the Accounts
for the year ended 31 July 2023
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
7,499
58,761
Amounts owed to group undertakings and other participating interests
26,081
3,118
Taxes and social security
8,239
11,839
Other creditors
8,742
6,892
Loans from directors
21,266
34,271
Deferred income
34,296
62,001
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
14,628
-
9
Average number of employees
During the year the average number of employees was 9 (2022: 11).