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Registration number: 09338290

Coffee Geek and Friends Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Coffee Geek and Friends Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Coffee Geek and Friends Limited

Company Information

Directors

Mr Robin San

Mr Matthew Law

Registered office

102 Fulham Palace Road
London
W6 9PL

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Coffee Geek and Friends Limited

(Registration number: 09338290)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

5,193

6,924

Current assets

 

Stocks

2,000

2,000

Debtors

6

1,362

1,859

Cash at bank and in hand

 

1,730

4,632

 

5,092

8,491

Creditors: Amounts falling due within one year

7

(301,665)

(268,668)

Net current liabilities

 

(296,573)

(260,177)

Net liabilities

 

(291,380)

(253,253)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(291,382)

(253,255)

Shareholders' deficit

 

(291,380)

(253,253)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

 

Coffee Geek and Friends Limited

(Registration number: 09338290)
Balance Sheet as at 31 December 2023

.........................................
Mr Matthew Law
Director

 

Coffee Geek and Friends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
102 Fulham Palace Road
London
W6 9PL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Coffee Geek and Friends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

25% straight line basis

Plant & machinery

25% straight line basis

Fixtures & fittings

25% reducing balance basis

Office equipment

25% straight line basis

Motor vehicles

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 5 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Coffee Geek and Friends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like investments, trade and other receivable, cash and bank balances, trade and other creditors.

Debt instruments that are payable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Coffee Geek and Friends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

11,000

11,000

At 31 December 2023

11,000

11,000

Amortisation

At 1 January 2023

11,000

11,000

At 31 December 2023

11,000

11,000

Carrying amount

At 31 December 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

42,854

2,657

29,266

17,686

92,463

At 31 December 2023

42,854

2,657

29,266

17,686

92,463

Depreciation

At 1 January 2023

42,854

2,619

22,380

17,686

85,539

Charge for the year

-

9

1,722

-

1,731

At 31 December 2023

42,854

2,628

24,102

17,686

87,270

Carrying amount

At 31 December 2023

-

29

5,164

-

5,193

At 31 December 2022

-

38

6,886

-

6,924

 

Coffee Geek and Friends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023
£

2022
£

Prepayments

943

856

Other debtors

419

1,003

 

1,362

1,859

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

252

780

Accruals and deferred income

3,855

3,000

Other creditors

297,558

264,888

301,665

268,668

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

Coffee Geek and Friends Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Other payments made to company by director
£

At 31 December 2023
£

Mr Matthew Law

Amount owed to / (from) the director

132,125

16,258

148,382

       
     

Mr Robin San

Amount owed to / (from) the director

132,125

16,258

148,382

       
     

 

2022

At 1 January 2022
£

Advances to director
£

At 31 December 2022
£

Mr Matthew Law

Amount owed to / (from) the director

104,572

27,553

132,125

       
     

Mr Robin San

Amount owed to / (from) the director

104,572

27,553

132,125