Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30false2022-07-01198truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08565497 2022-07-01 2023-06-30 08565497 2021-07-01 2022-06-30 08565497 2023-06-30 08565497 2022-06-30 08565497 2021-07-01 08565497 c:Director1 2022-07-01 2023-06-30 08565497 d:PlantMachinery 2022-07-01 2023-06-30 08565497 d:PlantMachinery 2023-06-30 08565497 d:PlantMachinery 2022-06-30 08565497 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 08565497 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 08565497 d:MotorVehicles 2022-07-01 2023-06-30 08565497 d:MotorVehicles 2023-06-30 08565497 d:MotorVehicles 2022-06-30 08565497 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 08565497 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 08565497 d:FurnitureFittings 2022-07-01 2023-06-30 08565497 d:OfficeEquipment 2022-07-01 2023-06-30 08565497 d:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 08565497 d:OtherPropertyPlantEquipment 2023-06-30 08565497 d:OtherPropertyPlantEquipment 2022-06-30 08565497 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 08565497 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 08565497 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 08565497 d:LeasedAssetsHeldAsLessee 2022-07-01 2023-06-30 08565497 d:CurrentFinancialInstruments 2023-06-30 08565497 d:CurrentFinancialInstruments 2022-06-30 08565497 d:Non-currentFinancialInstruments 2023-06-30 08565497 d:Non-currentFinancialInstruments 2022-06-30 08565497 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08565497 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 08565497 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08565497 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 08565497 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 08565497 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 08565497 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 08565497 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 08565497 d:ShareCapital 2023-06-30 08565497 d:ShareCapital 2022-06-30 08565497 d:RetainedEarningsAccumulatedLosses 2023-06-30 08565497 d:RetainedEarningsAccumulatedLosses 2022-06-30 08565497 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 08565497 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 08565497 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 08565497 d:TaxLossesCarry-forwardsDeferredTax 2022-06-30 08565497 d:RetirementBenefitObligationsDeferredTax 2023-06-30 08565497 d:RetirementBenefitObligationsDeferredTax 2022-06-30 08565497 c:OrdinaryShareClass1 2022-07-01 2023-06-30 08565497 c:OrdinaryShareClass1 2023-06-30 08565497 c:OrdinaryShareClass1 2022-06-30 08565497 c:FRS102 2022-07-01 2023-06-30 08565497 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 08565497 c:FullAccounts 2022-07-01 2023-06-30 08565497 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08565497 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-07-01 2023-06-30 08565497 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 08565497 d:WithinOneYear 2023-06-30 08565497 d:WithinOneYear 2022-06-30 08565497 d:BetweenOneFiveYears 2023-06-30 08565497 d:BetweenOneFiveYears 2022-06-30 08565497 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 08565497 d:HirePurchaseContracts d:WithinOneYear 2022-06-30 08565497 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 08565497 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-06-30 08565497 2 2022-07-01 2023-06-30 08565497 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 08565497 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 08565497









SILVER OAK COFFEE LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
SILVER OAK COFFEE LTD
REGISTERED NUMBER: 08565497

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
709,715
89,089

Current assets
  

Stocks
  
11,227
10,448

Debtors: amounts falling due within one year
 5 
9,970
7,674

Cash at bank and in hand
  
142,487
313,975

  
163,684
332,097

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(382,422)
(159,478)

Net current (liabilities)/assets
  
 
 
(218,738)
 
 
172,619

Total assets less current liabilities
  
490,977
261,708

Creditors: amounts falling due after more than one year
 7 
(233,087)
(37,188)

Provisions for liabilities
  

Deferred tax
 10 
(52,481)
(15,487)

Net assets
  
205,409
209,033


Capital and reserves
  

Called up share capital 
 11 
2
2

Profit and loss account
  
205,407
209,031

  
205,409
209,033


Page 1

 
SILVER OAK COFFEE LTD
REGISTERED NUMBER: 08565497

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 year 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: 




Mr B M Garside
Director

Date: 23 December 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SILVER OAK COFFEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Silver Oak Coffee Ltd is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is Unit 1a Saxon Business Park, Littleport, Ely, CB6 1XX. This Company is not part of a group. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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.

Page 3

 
SILVER OAK COFFEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year 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 year 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 corporation 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.

Page 4

 
SILVER OAK COFFEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.10

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Improvements to property
-
not depreciated

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Page 5

 
SILVER OAK COFFEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2022 - 8).

Page 6

 
SILVER OAK COFFEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Plant and machinery
Improvement to property
Other fixed assets
Total

£
£
£
£



Cost


At 1 July 2022
-
7,861
258,163
266,024


Additions
145,824
379,734
205,759
731,317


Disposals
-
-
(5,150)
(5,150)



At 30 June 2023

145,824
387,595
458,772
992,191



Depreciation


At 1 July 2022
-
-
176,935
176,935


Charge for the year on owned assets
36,476
-
42,968
79,444


Charge for the year on financed assets
-
-
29,497
29,497


Disposals
-
-
(3,400)
(3,400)



At 30 June 2023

36,476
-
246,000
282,476



Net book value



At 30 June 2023
109,348
387,595
212,772
709,715



At 30 June 2022
-
7,861
81,228
89,089

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
88,489
-


5.


Debtors

2023
2022
£
£


Trade debtors
5,836
7,298

Other debtors
1,300
-

Prepayments
2,834
376

9,970
7,674


Page 7

 
SILVER OAK COFFEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
46,644
12,750

Trade creditors
31,207
12,560

Corporation tax
14,010
29,325

Other taxation and social security
60,118
16,375

Net obligations under finance lease and hire purchase contracts
15,001
-

Other creditors
212,472
86,218

Accruals
2,970
2,250

382,422
159,478


Included within creditors are secured debts amounting to £107,987 (2022 - £Nil) which are secured on the fixed assets to which they relate.
Included within creditors are secured debts amounting to £147,598 (2022 - £Nil) which are secured via a fixed and floating charge on the Company’s assets.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
140,101
37,188

Net obligations under finance leases and hire purchase contracts
92,986
-

233,087
37,188



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
46,644
12,750

Amounts falling due 1-2 years

Bank loans
51,860
12,750

Amounts falling due 2-5 years

Bank loans
88,241
24,438


186,745
49,938


Page 8

 
SILVER OAK COFFEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
15,001
-

Between 1-5 years
92,986
-

107,987
-


10.


Deferred taxation




2023
2022


£

£






At beginning of year
(15,487)
(18,318)


Charged to profit or loss
(36,994)
2,831



At end of year
(52,481)
(15,487)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(64,672)
(15,487)

Tax losses carried forward
12,027
-

Pension surplus
164
-

(52,481)
(15,487)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1 each
2
2



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,748 (2022 - £2,929). £1,526 (2022 - £Nil) was payable to the fund at the balance sheet date.

Page 9

 
SILVER OAK COFFEE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

13.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
41,592
20,176

Later than 1 year and not later than 5 years
34,036
35,000

75,628
55,176


14.


Related party transactions

During the year the Company operated a loan with the directors of the Company. The amount payable by the Company at the year end was £210,149 (2022 - £86,219). This loan is interest free and repayable on demand.


Page 10