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Company Registration No. 12694406 (England and Wales)
First Coffee Ltd Unaudited accounts for the year ended 30 June 2023
First Coffee Ltd Unaudited accounts Contents
Page
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First Coffee Ltd Company Information for the year ended 30 June 2023
Directors
Sead Haxhijaha Hekuran Vokshi
Company Number
12694406 (England and Wales)
Registered Office
c/o Solid Ltd Eagle House 163 City Road London EC1V 1NR England
Accountants
Solid Ltd Eagle House 163 City Road London EC1V 1NR
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First Coffee Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,203 
8,390 
Current assets
Inventories
2,090 
1,345 
Debtors
14,171 
2,708 
Cash at bank and in hand
14,969 
4,244 
31,230 
8,297 
Creditors: amounts falling due within one year
(25,329)
(10,192)
Net current assets/(liabilities)
5,901 
(1,895)
Total assets less current liabilities
20,104 
6,495 
Creditors: amounts falling due after more than one year
(49,319)
(57,338)
Net liabilities
(29,215)
(50,843)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(29,315)
(50,943)
Shareholders' funds
(29,215)
(50,843)
For the year ending 30 June 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 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 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 of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by
Sead Haxhijaha Director Company Registration No. 12694406
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First Coffee Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
First Coffee Ltd is a private company, limited by shares, registered in England and Wales, registration number 12694406. The registered office is c/o Solid Ltd Eagle House, 163 City Road, London, EC1V 1NR, England.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
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 & machinery
Straight Line over 4 years
Fixtures & fittings
Straight line over 5 years
Stock
Stock 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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
The Director's consider the use of the going concern basis of accounting appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
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First Coffee Ltd Notes to the Accounts for the year ended 30 June 2023
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments 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. Bank overdrafts are shown within borrowings in current liabilities.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
15,490 
- 
15,490 
Additions
9,606 
2,677 
12,283 
At 30 June 2023
25,096 
2,677 
27,773 
Depreciation
At 1 July 2022
7,100 
- 
7,100 
Charge for the year
6,095 
375 
6,470 
At 30 June 2023
13,195 
375 
13,570 
Net book value
At 30 June 2023
11,901 
2,302 
14,203 
At 30 June 2022
8,390 
- 
8,390 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
8,021 
2,693 
Other debtors
6,150 
15 
14,171 
2,708 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
6,039 
(1,847)
Trade creditors
8,337 
9,908 
Taxes and social security
- 
975 
Other creditors
17 
- 
Loans from directors
7,951 
- 
Accruals
2,985 
1,156 
25,329 
10,192 
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First Coffee Ltd Notes to the Accounts for the year ended 30 June 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
49,319 
57,338 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 6 (2022: 2).
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