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Company registration number: 05036200
YCC Ltd
Trading as Costa Coffee
Unaudited filleted financial statements
31 March 2023
YCC Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
YCC Ltd
Directors and other information
Directors Badar Zaman
Branka Zaman
Secretary Badar Zaman
Company number 05036200
Registered office 1st Floor, 114-116
High Street
Acton
W3 6QX
Business address 1st Floor, 114-116
High Street
Acton
W3 6QX
Accountants Nagle James Associates Limited
4th Floor, Kings Suite
15 College Road
Harrow
HA1 1BA
YCC Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 7 746,554 3,765,689
_______ _______
746,554 3,765,689
Current assets
Stocks 34,663 35,050
Debtors 8 2,191,308 912,989
Cash at bank and in hand 492,486 1,006,145
_______ _______
2,718,457 1,954,184
Creditors: amounts falling due
within one year 9 ( 517,829) ( 1,074,567)
_______ _______
Net current assets 2,200,628 879,617
_______ _______
Total assets less current liabilities 2,947,182 4,645,306
Creditors: amounts falling due
after more than one year 10 - ( 1,596,674)
Provisions for liabilities 11 ( 87,641) ( 78,943)
_______ _______
Net assets 2,859,541 2,969,689
_______ _______
Capital and reserves
Called up share capital 13 100 100
Profit and loss account 2,859,441 2,969,589
_______ _______
Shareholders funds 2,859,541 2,969,689
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 December 2023 , and are signed on behalf of the board by:
Badar Zaman
Director
Company registration number: 05036200
YCC Ltd
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2021 100 2,351,499 2,351,599
Profit for the year 798,050 798,050
_______ _______ _______
Total comprehensive income for the year - 798,050 798,050
Dividends paid and payable ( 179,960) ( 179,960)
_______ _______ _______
Total investments by and distributions to owners - ( 179,960) ( 179,960)
_______ _______ _______
At 31 March 2022 and 1 April 2022 100 2,969,589 2,969,689
Profit for the year 50,652 50,652
_______ _______ _______
Total comprehensive income for the year - 50,652 50,652
Dividends paid and payable ( 160,800) ( 160,800)
_______ _______ _______
Total investments by and distributions to owners - ( 160,800) ( 160,800)
_______ _______ _______
At 31 March 2023 100 2,859,441 2,859,541
_______ _______ _______
YCC Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, 114-116, High Street, Acton, W3 6QX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Straight line over the life of the lease
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 12.5 % straight line
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 91 (2022: 97 ).
5. Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
2023 2022
£ £
Remuneration 19,200 19,200
_______ _______
6. Dividends
Equity dividends
2023 2022
£ £
Dividends paid during the year 160,800 179,960
_______ _______
7. Tangible assets
Freehold property Short leasehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £ £
Cost
At 1 April 2022 2,976,267 483,140 1,556,920 2,270,644 7,286,971
Additions - - 3,810 90,297 94,107
Disposals ( 2,976,267) - ( 134,690) ( 138,714) ( 3,249,671)
_______ _______ _______ _______ _______
At 31 March 2023 - 483,140 1,426,040 2,222,227 4,131,407
_______ _______ _______ _______ _______
Depreciation
At 1 April 2022 255,001 357,736 1,271,401 1,637,145 3,521,283
Charge for the year - 21,198 3,792 93,581 118,571
Disposals ( 255,001) - - - ( 255,001)
_______ _______ _______ _______ _______
At 31 March 2023 - 378,934 1,275,193 1,730,726 3,384,853
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2023 - 104,206 150,847 491,501 746,554
_______ _______ _______ _______ _______
At 31 March 2022 2,721,266 125,404 285,519 633,499 3,765,688
_______ _______ _______ _______ _______
8. Debtors
2023 2022
£ £
Trade debtors - 4,527
Corporation tax recoverable 146,064 146,064
Amounts owed by connected company 1,228,181 -
Directors' current account - Mr and Mrs B Zaman 724,114 636,100
Prepayments 92,949 126,298
_______ _______
2,191,308 912,989
_______ _______
9. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts - 381,483
Trade creditors 235,107 223,734
Amounts owed to connected party - 22,000
Accruals and deferred income 9,298 73,369
Corporation tax 50,666 165,547
Social security and other taxes 139,047 96,940
Other creditors 82,820 111,494
_______ _______
517,829 1,074,567
_______ _______
10. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts - 1,596,674
_______ _______
11. Provisions
Deferred tax (note 12) Total
£ £
At 1 April 2022 78,943 78,943
Charges against provisions 8,698 8,698
_______ _______
At 31 March 2023 87,641 87,641
_______ _______
12. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023 2022
£ £
Included in provisions (note 11) 87,641 78,943
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2023 2022
£ £
Accelerated capital allowances 8,698 29,376
_______ _______
13. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
14. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Badar Zaman 636,100 88,014 724,114
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Badar Zaman 681,015 ( 44,915) 636,100
_______ _______ _______