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Company No: 09467237 (England and Wales)

ROASTWORKS COFFEE COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ROASTWORKS COFFEE COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ROASTWORKS COFFEE COMPANY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
ROASTWORKS COFFEE COMPANY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mrs C Little
Mr W Little
REGISTERED OFFICE Unit 7 Blackdown Park
Willand
EX15 2FS
England
United Kingdom
COMPANY NUMBER 09467237 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
ROASTWORKS COFFEE COMPANY LIMITED

BALANCE SHEET

As at 31 March 2024
ROASTWORKS COFFEE COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 4 728 0
Tangible assets 5 322,068 330,825
322,796 330,825
Current assets
Stocks 125,466 175,734
Debtors 6 206,647 142,254
Cash at bank and in hand 111,900 75,346
444,013 393,334
Creditors: amounts falling due within one year 7 ( 112,784) ( 90,882)
Net current assets 331,229 302,452
Total assets less current liabilities 654,025 633,277
Creditors: amounts falling due after more than one year 8 ( 162,916) ( 175,455)
Provision for liabilities ( 28,200) ( 20,300)
Net assets 462,909 437,522
Capital and reserves
Called-up share capital 9 2 2
Profit and loss account 462,907 437,520
Total shareholders' funds 462,909 437,522

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Roastworks Coffee Company Limited (registered number: 09467237) were approved and authorised for issue by the Board of Directors on 04 September 2024. They were signed on its behalf by:

Mrs C Little
Director
ROASTWORKS COFFEE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ROASTWORKS COFFEE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Roastworks Coffee Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 7 Blackdown Park, Willand, EX15 2FS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Change in accounting estimate

In the year ended 31 March 2024 the Company changed its depreciation policy for Plant and machinery from 5 years to 7 years. If the previous depreciation was still in place the Net Book Value of Plant and machinery would be £72,744. The depreciation charge for Fixtures and Fittings in the Profit & Loss report would have been £10,611, the updated depreciation charge is now £3,411.

Prior year adjustment

The nature and effects of a prior year error are disclosed in note 2 of the financial statements.

Turnover

Turnover compromises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 7 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average formula.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Prior year adjustment

As a result of misclassifications in the profit and loss statement in the prior year we have reclassified a number of entries.

As previously reported Adjustment As restated
Year ended 31 March 2023 £ £ £
Closing stock 186,215 (10,481) 175,734
Sales 1,112,350 6,475 1,118,825
Direct costs (778,581) 4,007 (774,574)

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

4. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 April 2023 0 0
Additions 840 840
At 31 March 2024 840 840
Accumulated amortisation
At 01 April 2023 0 0
Charge for the financial year 112 112
At 31 March 2024 112 112
Net book value
At 31 March 2024 728 728
At 31 March 2023 0 0

5. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2023 205,532 145,701 66,815 19,367 437,415
Additions 0 15,834 2,685 11,972 30,491
At 31 March 2024 205,532 161,535 69,500 31,339 467,906
Accumulated depreciation
At 01 April 2023 28,496 63,585 5,309 9,200 106,590
Charge for the financial year 4,111 18,005 13,721 3,411 39,248
At 31 March 2024 32,607 81,590 19,030 12,611 145,838
Net book value
At 31 March 2024 172,925 79,945 50,470 18,728 322,068
At 31 March 2023 177,036 82,116 61,506 10,167 330,825

6. Debtors

2024 2023
£ £
Trade debtors 116,797 88,178
Amounts owed by directors 11,000 22,000
Prepayments 43,235 8,791
VAT recoverable 17,203 17,586
Other debtors 18,412 5,699
206,647 142,254

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 3,979 3,769
Trade creditors 71,120 73,349
Accruals 7,318 2,019
Taxation and social security 16,920 4,000
Obligations under finance leases and hire purchase contracts (secured) 8,562 7,745
Other creditors 4,885 0
112,784 90,882

Bank borrowings - included in the bank loans at the year end is £133,872 (2023: £137,638) on which security has been provided:

The bank loan is secured over the freehold property.

Finance lease - included in finance leases at the year end is £41,585 (2023: £49,331) on which the following security has been provided:

The finance lease is secured over the motor vehicles.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 129,893 133,869
Obligations under finance leases and hire purchase contracts (secured) 33,023 41,586
162,916 175,455

Bank borrowings - included in the bank loans at the year end is £133,872 (2023: £137,638) on which security has been provided:

The bank loan is secured over the freehold property.

Finance lease - included in finance leases at the year end is £41,585 (2023: £49,331) on which the following security has been provided:

The finance lease is secured over the motor vehicles.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured) 111,625 116,570

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary Shares shares of £ 1.00 each 2 2

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by director 11,000 22,000