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Registered number: 12486777









BARISTA VERDE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BARISTA VERDE LIMITED
REGISTERED NUMBER: 12486777

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
637,500
712,500

Tangible assets
 5 
370
936

  
637,870
713,436

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
76,969
200,017

Cash at bank and in hand
  
31,316
193,669

  
108,285
393,686

Creditors: amounts falling due within one year
 7 
(24,965)
(110,831)

NET CURRENT ASSETS
  
 
 
83,320
 
 
282,855

  

NET ASSETS
  
721,190
996,291


CAPITAL AND RESERVES
  

Called up share capital 
 8 
14,885
14,816

Share premium account
  
1,971,950
1,882,019

Profit and loss account
  
(1,265,645)
(900,544)

  
721,190
996,291


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
BARISTA VERDE LIMITED
REGISTERED NUMBER: 12486777
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C G Twemlow
Director

Date: 3 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BARISTA VERDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Barista Verde Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.  The company's principal place of business is Unit 5 Valley Court Office, Lower Road, Croydon, Near Royston, SG8 0HF.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the Company will continue as a going concern for the foreseeable future. The trading losses reported are consistent with the Company's business plan.
Given the investment received, together with the development progress achieved, the directors have a reasonable expectation that the Company will be able to meet its liabilities as the fall due for the forseseeable future and therefore continue to adopt the going concern basis.

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

TURNOVER

Turnover represents sale of consumer appliances and sundry cost recharges during the period, exclusive of Value Added Tax and trade discounts. Turnover is recognised as the fair value of the consideration received or receivable and is recognised in the Profit and Loss Account in the period to which it relates to. 

Page 3

 
BARISTA VERDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

RESEARCH AND DEVELOPMENT

Research and development expenditure is written off to the profit and loss account in the period in which it is incurred.

 
2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Other intangible fixed assets
-
10
years

 
2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
BARISTA VERDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.9
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The average monthly number of employees, including paid directors, during the year was 3 (2023 - 2).

Page 5

 
BARISTA VERDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


INTANGIBLE ASSETS




Other intangibles

£



COST


At 1 April 2023
750,000



At 31 March 2024

750,000



AMORTISATION


At 1 April 2023
37,500


Charge for the year on owned assets
75,000



At 31 March 2024

112,500



NET BOOK VALUE



At 31 March 2024
637,500



At 31 March 2023
712,500



Page 6

 
BARISTA VERDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


TANGIBLE FIXED ASSETS





Fixtures and fittings

£



COST OR VALUATION


At 1 April 2023
1,699



At 31 March 2024

1,699



DEPRECIATION


At 1 April 2023
763


Charge for the year on owned assets
566



At 31 March 2024

1,329



NET BOOK VALUE



At 31 March 2024
370



At 31 March 2023
936


6.


DEBTORS

2024
2023
£
£


Trade debtors
343
9,450

Other debtors
67,218
181,184

Prepayments and accrued income
9,408
9,383

76,969
200,017


Page 7

 
BARISTA VERDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
8,983
63,602

Other taxation and social security
-
4,508

Other creditors
140
21,206

Accruals and deferred income
15,842
21,515

24,965
110,831


Included in other creditors are unpaid pension contributions of £137 (2023 - £467).


8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,488,517 (2023 - 1,481,631) Ordinary shares of £0.01 each
14,885.17
14,816.31


On 17 April 2023 6,886 Ordinary shares of £0.01 each were issued for consideration of £90,000.

 
Page 8