2023-01-012023-12-312023-12-31false05960029Roasted Coffee 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Roasted Coffee Ltd

Registered Number
05960029
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Roasted Coffee Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Mr. R Yalden

Registered Address

Unit 22 The Henfield Business Park
Shoreham Road
Henfield
BN5 9SL

Registered Number

05960029 (England and Wales)
Roasted Coffee Ltd
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets373,32467,047
73,32467,047
Current assets
Stocks479,82562,062
Debtors169,170125,372
Cash at bank and on hand20,68623,199
269,681210,633
Creditors amounts falling due within one year5(115,509)(88,538)
Net current assets (liabilities)154,172122,095
Total assets less current liabilities227,496189,142
Creditors amounts falling due after one year6(28,650)(39,225)
Net assets198,846149,917
Capital and reserves
Called up share capital100100
Profit and loss account198,746149,817
Shareholders' funds198,846149,917
The financial statements were approved and authorised for issue by the Director on 13 September 2024, and are signed on its behalf by:
Mr. R Yalden
Director
Registered Company No. 05960029
Roasted Coffee Ltd
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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Straight line (years)
Land and buildings5
Plant and machinery5
Fixtures and fittings5
Vehicles5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20232022
Average number of employees during the year98
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 January 23102,62325,25345,911173,787
Additions26,5631,592-28,155
Disposals(261)--(261)
At 31 December 23128,92526,84545,911201,681
Depreciation and impairment
At 01 January 2360,11118,01328,616106,740
Charge for year16,4562,3534,61223,421
On disposals(3,142)--(3,142)
Other adjustments-1,338-1,338
At 31 December 2373,42521,70433,228128,357
Net book value
At 31 December 2355,5005,14112,68373,324
At 31 December 2242,5127,24017,29567,047
4.Stocks

2023

2022

££
Other stocks79,82562,062
Total79,82562,062
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables70,48039,597
Bank borrowings and overdrafts9,8699,872
Taxation and social security23,18424,162
Finance lease and HP contracts3,1655,622
Other creditors8363,300
Accrued liabilities and deferred income7,9755,985
Total115,50988,538
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts15,91325,780
Other creditors12,73713,445
Total28,65039,225
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts12,73713,445