Registered number
10494666
Liverpool Coffee Roasters Ltd
Unaudited Filleted Accounts
31 March 2023
Liverpool Coffee Roasters Ltd
Registered number: 10494666
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 23,175 -
Tangible assets 4 185,911 30,792
209,086 30,792
Current assets
Stocks 36,628 21,200
Debtors 5 106,969 182,323
Cash at bank and in hand 4,378 16,433
147,975 219,956
Creditors: amounts falling due within one year 6 (303,862) (180,163)
Net current (liabilities)/assets (155,887) 39,793
Total assets less current liabilities 53,199 70,585
Creditors: amounts falling due after more than one year 7 (33,562) (37,967)
Net assets 19,637 32,618
Capital and reserves
Called up share capital 2 2
Profit and loss account 19,635 32,616
Shareholders' funds 19,637 32,618
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Whyte
Director
Approved by the board on 13 March 2024
Liverpool Coffee Roasters Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Coffee roaster over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 2
3 Intangible fixed assets £
Goodwill:
Cost
Additions 25,750
At 31 March 2023 25,750
Amortisation
Provided during the year 2,575
At 31 March 2023 2,575
Net book value
At 31 March 2023 23,175
Website costs are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 37,044
Additions 167,099
At 31 March 2023 204,143
Depreciation
At 1 April 2022 6,252
Charge for the year 11,980
At 31 March 2023 18,232
Net book value
At 31 March 2023 185,911
At 31 March 2022 30,792
5 Debtors 2023 2022
£ £
Trade debtors 58,999 147,737
Other debtors 47,970 34,586
106,969 182,323
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 20,170 49,805
Taxation and social security costs 40,805 27,838
Other creditors 232,887 92,520
303,862 180,163
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 33,562 37,967
8 Related party transactions
As at 31 March 2023, the company owed £209,310 (2022 - £60,710) to Bean Coffee Holdings Ltd. Both companies are under the direct control of the directors Mr J Whyte and Mr V Bhatt.
9 Other information
Liverpool Coffee Roasters Ltd is a private company limited by shares and incorporated in England. Its registered office is:
300 St Mary's Road
Garston
Liverpool
Merseyside
L19 0NQ
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