Company Registration No. 08886778 (England and Wales)
Neighbourhood Coffee Company Ltd.
Unaudited accounts
for the year ended 30 September 2023
Neighbourhood Coffee Company Ltd.
Unaudited accounts
Contents
Neighbourhood Coffee Company Ltd.
Company Information
for the year ended 30 September 2023
Directors
Edward Peck
Christopher Holloway
Company Number
08886778 (England and Wales)
Registered Office
UNIT 22
SANDON WAY
LIVERPOOL
L5 9YN
ENGLAND
Accountants
Adams O'Rourke Accountants Ltd
436 Woolton Road
Liverpool
L25 6JQ
Neighbourhood Coffee Company Ltd.
Statement of financial position
as at 30 September 2023
Tangible assets
190,003
200,068
Cash at bank and in hand
46,753
44,204
Creditors: amounts falling due within one year
(150,806)
(215,986)
Net current assets
95,767
27,915
Total assets less current liabilities
285,770
227,983
Creditors: amounts falling due after more than one year
(223,971)
(236,961)
Provisions for liabilities
Deferred tax
(36,102)
(38,013)
Net assets/(liabilities)
25,697
(46,991)
Called up share capital
24
24
Profit and loss account
25,673
(47,015)
Shareholders' funds
25,697
(46,991)
For the year ending 30 September 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
Edward Peck
Director
Company Registration No. 08886778
Neighbourhood Coffee Company Ltd.
Notes to the Accounts
for the year ended 30 September 2023
Neighbourhood Coffee Company Ltd. is a private company, limited by shares, registered in England and Wales, registration number 08886778. The registered office is UNIT 22, SANDON WAY, LIVERPOOL, L5 9YN, 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.
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.
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
15% reducing balance and 20% straight line
Fixtures & fittings
15% reducing balance
Computer equipment
33% straight line
Other tangible fixed assets
10% straight line and 20% reducing balance
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.
Expenditure on research and development is written off in the year in which it is incurred.
Neighbourhood Coffee Company Ltd.
Notes to the Accounts
for the year ended 30 September 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
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.
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.
The P&L account figures included in these accounts represent the 18 month period to 30.09.2022, as the company year end changed to 30th September from 31st March on 11th May 2022.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2022
227,100
20,197
9,798
257,095
Additions
34,979
273
-
35,252
Disposals
(6,017)
(9,253)
(1,341)
(16,611)
At 30 September 2023
256,062
11,217
8,457
275,736
At 1 October 2022
40,876
10,209
5,942
57,027
Charge for the year
36,388
1,103
1,460
38,951
On disposals
(2,971)
(6,527)
(747)
(10,245)
At 30 September 2023
74,293
4,785
6,655
85,733
At 30 September 2023
181,769
6,432
1,802
190,003
At 30 September 2022
186,224
9,988
3,856
200,068
Neighbourhood Coffee Company Ltd.
Notes to the Accounts
for the year ended 30 September 2023
Amounts falling due within one year
Trade debtors
99,224
72,888
Accrued income and prepayments
23,350
14,306
Other debtors
12,480
12,480
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
124,776
155,936
Other creditors
14,419
14,467
Loans from directors
10,611
45,583
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
223,971
236,961
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan, repayable on demand
9
Transactions with related parties
Loan to director provided at 0% interest and repayable on demand of £1,624.
10
Average number of employees
During the year the average number of employees was 11 (2022: 11).