Registered number
11070015
G.J.COFFEES (UK) LTD
Filleted Accounts
30 November 2023
G.J.COFFEES (UK) LTD
Registered number: 11070015
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 121,862 125,362
Current assets
Stocks 4,401 3,973
Debtors 4 7,555 7,179
Cash at bank and in hand 11,696 5,722
23,652 16,874
Creditors: amounts falling due within one year 5 (25,571) (31,176)
Net current assets/(liabilities) (1,919) (14,302)
Total assets less current liabilities 119,943 111,060
Creditors: amounts falling due after more than one year 6 (207,387) (171,210)
Net assets/(liabilities) (87,444) (60,150)
Capital and reserves
Called up share capital 100 100
Profit and loss account (87,544) (60,250)
Shareholder's funds (87,444) (60,150)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs Sidra Ali
Director
Approved by the board on 18 June 2024
G.J.COFFEES (UK) LTD
Notes to the Accounts
for the year ended 30 November 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.
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:
Leasehold improvements 2% Reducing balance
Fixtures, fittings, tools and equipment 10% Reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 8
3 Tangible fixed assets
Leasehold Improvement Fixture & fittings Total
£ £ £
Cost
At 1 December 2022 116,983 13,789 130,772
At 30 November 2023 116,983 13,789 130,772
Depreciation
At 1 December 2022 4,031 1,379 5,410
Charge for the year 2,259 1,241 3,500
At 30 November 2023 6,290 2,620 8,910
Net book value
At 30 November 2023 110,693 11,169 121,862
At 30 November 2022 112,952 12,410 125,362
4 Debtors 2023 2022
£ £
Trade debtors 549 541
Other debtors 7,006 6,638
7,555 7,179
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 195 2,693
Other creditors 25,376 28,483
25,571 31,176
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 46,248 46,156
Director's loan account 161,139 125,054
207,387 171,210
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