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
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
First Coffee Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
14,203
8,390
Cash at bank and in hand
14,969
4,244
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)
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
First Coffee Ltd
Notes to the Accounts
for the year ended 30 June 2023
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.
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
Straight Line over 4 years
Fixtures & fittings
Straight line over 5 years
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 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.
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 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.
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.
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.
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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
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
At 30 June 2023
11,901
2,302
14,203
At 30 June 2022
8,390
-
8,390
Amounts falling due within one year
Accrued income and prepayments
8,021
2,693
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
8,337
9,908
Taxes and social security
-
975
Loans from directors
7,951
-
First Coffee Ltd
Notes to the Accounts
for the year ended 30 June 2023
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Creditors: amounts falling due after more than one year
2023
2022
Other creditors
49,319
57,338
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).