7
false
false
false
false
false
false
false
false
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true
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No description of principal activity
2022-12-01
Sage Accounts Production Advanced 2023 - FRS102_2023
10,500
3,792
3,500
7,292
3,208
6,708
xbrli:pure
xbrli:shares
iso4217:GBP
11075162
2022-12-01
2023-11-30
11075162
2023-11-30
11075162
2022-11-30
11075162
2021-12-01
2022-11-30
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2022-11-30
11075162
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2023-11-30
11075162
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11075162
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2022-11-30
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11075162
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2022-11-30
11075162
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2023-11-30
11075162
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11075162
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2022-11-30
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COMPANY REGISTRATION NUMBER:
11075162
Brothers Coffee & Vending Ltd |
|
Filleted Unaudited Financial Statements |
|
Brothers Coffee & Vending Ltd |
|
Statement of Financial Position |
|
30 November 2023
Fixed assets
Intangible assets |
5 |
3,208 |
6,708 |
Tangible assets |
6 |
70,155 |
78,139 |
|
-------- |
-------- |
|
73,363 |
84,847 |
|
|
|
|
Current assets
Stocks |
106,909 |
73,770 |
Debtors |
7 |
86,393 |
128,532 |
Cash at bank and in hand |
9,182 |
28,488 |
|
--------- |
--------- |
|
202,484 |
230,790 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
442,874 |
465,530 |
|
--------- |
--------- |
Net current liabilities |
240,390 |
234,740 |
|
--------- |
--------- |
Total assets less current liabilities |
(
167,027) |
(
149,893) |
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
68,695 |
96,900 |
|
--------- |
--------- |
Net liabilities |
(
235,722) |
(
246,793) |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
(
235,822) |
(
246,893) |
|
--------- |
--------- |
Shareholders deficit |
(
235,722) |
(
246,793) |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Brothers Coffee & Vending Ltd |
|
Statement of Financial Position (continued) |
|
30 November 2023
These financial statements were approved by the
board of directors
and authorised for issue on
23 August 2024
, and are signed on behalf of the board by:
Company registration number:
11075162
Brothers Coffee & Vending Ltd |
|
Notes to the Financial Statements |
|
Year ended 30 November 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with her responsibilities the director has considered the appropriateness of the going concern basis for the preparation of the financial statements. In forming her view, she has considered a period of at least 12 months from the date of approval of the financial statements. The company has a deficiency of assets as at 30 November 2023. In order to continue in operational existence as a going concern and meet its liabilities as they fall due, the company depends on funding from its director and other financiers. The director has prepared projected cash flow information for the forthcoming year and is satisfied that the company will be able to meet its obligations. The director considers it appropriate to prepare the financial statements on a going concern basis. Should the assumptions above prove to be invalid, the going concern basis may be invalid and accordingly adjustments may have to be made to reduce the value of the assets to their realisable amounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
33% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Motor vehicles |
- |
25% reducing balance |
|
Equipment |
- |
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2022:
7
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 December 2022 and 30 November 2023 |
10,500 |
|
-------- |
Amortisation |
|
At 1 December 2022 |
3,792 |
Charge for the year |
3,500 |
|
-------- |
At 30 November 2023 |
7,292 |
|
-------- |
Carrying amount |
|
At 30 November 2023 |
3,208 |
|
-------- |
At 30 November 2022 |
6,708 |
|
-------- |
|
|
6.
Tangible assets
|
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 December 2022 and 30 November 2023 |
26,304 |
|
133,494 |
|
-------- |
--------- |
--------- |
Depreciation |
|
|
|
At 1 December 2022 |
3,836 |
|
55,355 |
Charge for the year |
4,617 |
|
7,984 |
|
-------- |
--------- |
--------- |
At 30 November 2023 |
8,453 |
|
63,339 |
|
-------- |
--------- |
--------- |
Carrying amount |
|
|
|
At 30 November 2023 |
17,851 |
|
70,155 |
|
-------- |
--------- |
--------- |
At 30 November 2022 |
22,468 |
|
78,139 |
|
-------- |
--------- |
--------- |
|
|
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
80,750 |
122,421 |
Other debtors |
5,643 |
6,111 |
|
-------- |
--------- |
|
86,393 |
128,532 |
|
-------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
37,983 |
34,347 |
Trade creditors |
97,258 |
155,272 |
Social security and other taxes |
96,118 |
64,606 |
Other creditors |
211,515 |
211,305 |
|
--------- |
--------- |
|
442,874 |
465,530 |
|
--------- |
--------- |
|
|
|
Within other creditors is an loan of £125,000 (2022: £135,000) which is secured on fixed assets and stock. Within bank loans and overdrafts, a bank loan of £10,000 (2022: £10,000) is secured by a partial guarantee from the UK government, which would only apply in the event that the company becomes unable to meet the repayments.
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
58,917 |
96,900 |
Other creditors |
9,778 |
– |
|
-------- |
-------- |
|
68,695 |
96,900 |
|
-------- |
-------- |
|
|
|
Within creditors: amounts falling due after more than one year, a bank loan of £15,000 (2022: £25,000) is secured by a partial guarantee from the UK government, which would only apply in the event that the company becomes unable to meet the repayments.