Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-192023-02-191142022-02-20truefalseNo description of principal activity110trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08363659 2022-02-19 08363659 2022-02-20 2023-02-19 08363659 2021-04-01 2022-03-31 08363659 2023-02-19 08363659 2022-03-31 08363659 c:Director4 2022-02-20 2023-02-19 08363659 d:Buildings d:LongLeaseholdAssets 2022-02-20 2023-02-19 08363659 d:Buildings d:LongLeaseholdAssets 2023-02-19 08363659 d:Buildings d:LongLeaseholdAssets 2022-03-31 08363659 d:PlantMachinery 2022-02-20 2023-02-19 08363659 d:PlantMachinery 2023-02-19 08363659 d:PlantMachinery 2022-03-31 08363659 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-20 2023-02-19 08363659 d:MotorVehicles 2022-02-20 2023-02-19 08363659 d:MotorVehicles 2023-02-19 08363659 d:MotorVehicles 2022-03-31 08363659 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-20 2023-02-19 08363659 d:FurnitureFittings 2022-02-20 2023-02-19 08363659 d:FurnitureFittings 2023-02-19 08363659 d:FurnitureFittings 2022-03-31 08363659 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-20 2023-02-19 08363659 d:OfficeEquipment 2022-02-20 2023-02-19 08363659 d:OfficeEquipment 2023-02-19 08363659 d:OfficeEquipment 2022-03-31 08363659 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-20 2023-02-19 08363659 d:OwnedOrFreeholdAssets 2022-02-20 2023-02-19 08363659 d:PatentsTrademarksLicencesConcessionsSimilar 2023-02-19 08363659 d:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 08363659 d:Goodwill 2022-02-20 2023-02-19 08363659 d:Goodwill 2023-02-19 08363659 d:Goodwill 2022-03-31 08363659 d:CurrentFinancialInstruments 2023-02-19 08363659 d:CurrentFinancialInstruments 2022-03-31 08363659 d:Non-currentFinancialInstruments 2023-02-19 08363659 d:Non-currentFinancialInstruments 2022-03-31 08363659 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-19 08363659 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08363659 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-19 08363659 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08363659 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-19 08363659 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 08363659 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-19 08363659 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 08363659 d:ShareCapital 2023-02-19 08363659 d:ShareCapital 2022-03-31 08363659 d:RetainedEarningsAccumulatedLosses 2023-02-19 08363659 d:RetainedEarningsAccumulatedLosses 2022-03-31 08363659 c:FRS102 2022-02-20 2023-02-19 08363659 c:AuditExempt-NoAccountantsReport 2022-02-20 2023-02-19 08363659 c:FullAccounts 2022-02-20 2023-02-19 08363659 c:PrivateLimitedCompanyLtd 2022-02-20 2023-02-19 08363659 2 2022-02-20 2023-02-19 08363659 4 2022-02-20 2023-02-19 08363659 d:Goodwill d:OwnedIntangibleAssets 2022-02-20 2023-02-19 08363659 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-02-20 2023-02-19 iso4217:GBP xbrli:pure

Registered number: 08363659









GK COFFEE GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 19 FEBRUARY 2023

 
GK COFFEE GROUP LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 11


 
GK COFFEE GROUP LIMITED
REGISTERED NUMBER: 08363659

BALANCE SHEET
AS AT 19 FEBRUARY 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
132,818
170,787

Tangible assets
 5 
1,117,097
1,314,406

  
1,249,915
1,485,193

Current assets
  

Stocks
  
44,443
33,941

Debtors: amounts falling due within one year
 6 
965,429
2,779,219

Cash at bank and in hand
 7 
271,545
410,508

  
1,281,417
3,223,668

Creditors: amounts falling due within one year
 8 
(2,311,474)
(1,337,572)

Net current (liabilities)/assets
  
 
 
(1,030,057)
 
 
1,886,096

Total assets less current liabilities
  
219,858
3,371,289

Creditors: amounts falling due after more than one year
 9 
-
(1,195,598)

Provisions for liabilities
  

Deferred tax
  
(159,372)
-

  
 
 
(159,372)
 
 
-

Net assets
  
60,486
2,175,691


Capital and reserves
  

Called up share capital 
  
120
120

Profit and loss account
  
60,366
2,175,571

  
60,486
2,175,691


Page 1

 
GK COFFEE GROUP LIMITED
REGISTERED NUMBER: 08363659
    
BALANCE SHEET (CONTINUED)
AS AT 19 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A Yadav
Director

Date: 8 February 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

1.


General information

GK Coffee Group Limited is a private company limited by shares. The company is incorporated in England and Wales and the address of the registered office is 29 High Street, Brentwood, Essex, United Kingdom, CM14 4RG. The registered number is 08363659.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Product sales
The business operating in a fast moving food and beverage franchise and all sales are made at the time of purchase by the customers.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 4

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line / reducing balance method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
straight-line
Plant and machinery
-
10%
reducing balance
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

2.Accounting policies (continued)

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.18

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. 

Page 6

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 110 (2022 - 114).


4.


Intangible assets




Franchise costs
Goodwill
Total

£
£
£



Cost


At 20 February 2022
276,626
150,000
426,626



At 19 February 2023

276,626
150,000
426,626



Amortisation


At 20 February 2022
150,839
105,000
255,839


Charge for the period on owned assets
24,619
13,350
37,969



At 19 February 2023

175,458
118,350
293,808



Net book value



At 19 February 2023
101,168
31,650
132,818



At 19 February 2022
125,787
45,000
170,787



Page 7

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment

£
£
£
£
£



Cost or valuation


At 20 February 2022
1,612,678
535,722
9,038
520,229
60,619


Additions
-
-
-
2,162
425



At 19 February 2023

1,612,678
535,722
9,038
522,391
61,044



Depreciation


At 20 February 2022
789,253
273,501
3,955
314,389
42,783


Charge for the period on owned assets
143,528
23,338
2,011
27,768
3,250



At 19 February 2023

932,781
296,839
5,966
342,157
46,033



Net book value



At 19 February 2023
679,897
238,883
3,072
180,234
15,011



At 19 February 2022
823,425
262,221
5,083
205,840
17,837
Page 8

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 20 February 2022
2,738,286


Additions
2,587



At 19 February 2023

2,740,873



Depreciation


At 20 February 2022
1,423,881


Charge for the period on owned assets
199,895



At 19 February 2023

1,623,776



Net book value



At 19 February 2023
1,117,097



At 19 February 2022
1,314,406

Page 9

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Other debtors
897,909
2,544,848

Prepayments and accrued income
67,520
234,371

965,429
2,779,219



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
271,545
410,508

271,545
410,508



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
1,484,277
373,458

Trade creditors
333,974
468,341

Corporation tax
301,594
435,367

Other taxation and social security
57,991
32,625

Other creditors
66,276
12,281

Accruals and deferred income
67,362
15,500

2,311,474
1,337,572



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
1,195,598

-
1,195,598


Page 10

 
GK COFFEE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 19 FEBRUARY 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
1,484,277
373,458


1,484,277
373,458

Amounts falling due 1-2 years

Bank loans
-
731,355


-
731,355

Amounts falling due 2-5 years

Bank loans
-
464,243


-
464,243


1,484,277
1,569,056



11.


Transactions with directors

Included in other debtors is an amount of £694,360 due from the directors (2022: £146,272) 
 

 
Page 11