2023-01-012023-12-312023-12-31false11395285COFFEE CARGO 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COFFEE CARGO LIMITED

Registered Number
11395285
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

COFFEE CARGO LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

GEVAUX, Philip John

Registered Address

3 Holmans Place
Porthleven
Helston
TR13 9HZ

Registered Number

11395285 (England and Wales)
COFFEE CARGO LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets318,89023,613
18,89023,613
Current assets
Stocks4270,589789
Debtors510,89811,420
Cash at bank and on hand1,751126,071
283,238138,280
Creditors amounts falling due within one year6(253,943)(109,668)
Net current assets (liabilities)29,29528,612
Total assets less current liabilities48,18552,225
Creditors amounts falling due after one year7(12,948)(20,351)
Provisions for liabilities8(2,309)(1,480)
Net assets32,92830,394
Capital and reserves
Called up share capital100100
Profit and loss account32,82830,294
Shareholders' funds32,92830,394
The financial statements were approved and authorised for issue by the Director on 20 February 2024, and are signed on its behalf by:
GEVAUX, Philip John
Director
Registered Company No. 11395285
COFFEE CARGO LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles10
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 January 232,76323,93426,697
At 31 December 232,76323,93426,697
Depreciation and impairment
At 01 January 236912,3933,084
Charge for year4154,3084,723
At 31 December 231,1066,7017,807
Net book value
At 31 December 231,65717,23318,890
At 31 December 222,07221,54123,613
4.Stocks

2023

2022

££
Other stocks270,589789
Total270,589789
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables9,98910,454
Other debtors909966
Total10,89811,420
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,7981,243
Bank borrowings and overdrafts7,4027,400
Other creditors242,833100,115
Accrued liabilities and deferred income910910
Total253,943109,668
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts12,94820,351
Total12,94820,351
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,3091,480
Total2,3091,480