Coffee Plant Ltd |
Accountants' Report |
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Accountants' report to the directors of |
Coffee Plant Ltd |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Coffee Plant Ltd for the year ended 31 March 2024 set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Management Accountants (CIMA), we are subject to its ethical and other professional requirements which are detailed at cima.com. This report is made solely to the Board of Directors of Coffee Plant Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Coffee Plant Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Management Accountants as detailed at cima.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coffee Plant Ltd and its Board of Directors as a body for our work or for this report. |
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It is your duty to ensure that Coffee Plant Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Coffee Plant Ltd. You consider that Coffee Plant Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Coffee Plant Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. |
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Mark R Hill BSc (Econ) Dip ACMA |
Simple Accounting Limited |
Chartered Management Accountants |
95 Bridge Lanes |
Hebden Bridge |
HX7 6AT |
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23 September 2024 |
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Coffee Plant Ltd |
Registered number: |
08534384 |
Balance Sheet |
as at 31 March 2024 |
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Notes |
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2024 |
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2023 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
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65,439 |
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|
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181,937 |
Tangible assets |
4 |
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|
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1,704 |
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13,124 |
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|
|
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67,143 |
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195,061 |
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Current assets |
Cash at bank and in hand |
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50,570 |
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28,295 |
Debtors |
5 |
|
20,845 |
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|
20,047 |
Stocks |
6 |
|
43,599 |
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|
|
65,902 |
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|
|
115,014 |
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|
|
114,244 |
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Creditors: amounts falling due within one year |
7 |
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(22,370) |
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(2,365) |
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|
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Net current assets |
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92,644 |
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111,879 |
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Total assets less current liabilities |
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159,787 |
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306,940 |
Creditors: amounts falling due after more than one year |
8 |
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(91,383) |
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(233,190) |
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Net assets |
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68,404 |
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73,750 |
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Capital and reserves |
Called up share capital |
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100 |
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|
100 |
Profit and loss account |
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68,304 |
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73,650 |
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Shareholders' funds |
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68,404 |
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73,750 |
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Notes to Financial Statement |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. |
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Mr I Henshall |
Director |
Approved by the board on 23 September 2024 |
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Coffee Plant Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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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. |
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Turnover |
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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. |
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Intangible assets |
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Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and impairment losses. |
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Goodwill |
5% SLM |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets as follows: |
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Leaseholds |
5% SLM |
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Fixtures and fittings |
20% RBM |
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We do not charge depreciation on an asset in its year of acquisition. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Number of persons employed by the company at year end. |
4 |
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10 |
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Employee Costs |
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Wages and salaries gross |
164,256 |
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144,393 |
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Directors' salaries |
- |
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9,362 |
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Employer Pension |
7,676 |
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8,219 |
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Employer's NI |
41,440 |
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45,020 |
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213,372 |
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206,994 |
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3 |
Intangible fixed assets |
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Goodwill |
£ |
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Cost |
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At 1 April 2023 |
355,000 |
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Revaluation |
(155,000) |
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Disposal |
(55,000) |
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At 31 March 2024 |
145,000 |
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Amortisation |
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At 1 April 2023 |
(173,063) |
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Charge for the year |
(8,875) |
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Amortisation redeemed on revaluation |
75,564 |
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Amortisation written off on disposal |
26,813 |
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At 31 March 2024 |
(79,561) |
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Net book value |
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At 31 March 2024 |
181,937 |
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At 31 March 2024 |
65,439 |
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4 |
Tangible fixed assets |
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Long Leasehold |
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Equipment and fittings |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 April 2023 |
4,862 |
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39,944 |
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44,805 |
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Additions |
- |
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- |
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- |
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Disposals |
(4,862) |
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(35,059) |
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(39,920) |
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At 31 March 2024 |
- |
|
4,885 |
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4,885 |
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Depreciation |
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At 1 April 2023 |
729 |
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30,952 |
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31,681 |
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Charge for the year |
243 |
|
433 |
|
676 |
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Written off on disposal |
(972) |
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(28,204) |
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(29,176) |
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At 31 March 2024 |
- |
|
3,181 |
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3,181 |
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Net book value |
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At 31 March 2024 |
- |
|
1,704 |
|
1,704 |
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At 31 March 2023 |
4,133 |
|
8,992 |
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13,124 |
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5 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
15,722 |
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16,137 |
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Rent Prepayment Warehouse |
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2,488 |
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1,275 |
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Long Term: Landlord Deposit |
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2,635 |
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2,635 |
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|
20,845 |
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20,047 |
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6 |
Stocks |
2024 |
|
2023 |
£ |
£ |
|
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Warehouse |
43,599 |
|
60,755 |
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Shop |
- |
|
5,147 |
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43,599 |
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65,902 |
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7 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Trade creditors |
22,433 |
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4,657 |
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VAT |
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(6,677) |
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3,559 |
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Corporation tax |
- |
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(8,456) |
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Accruals |
6,614 |
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2,605 |
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|
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22,370 |
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2,365 |
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8 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
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Director's loan account |
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91,383 |
|
233,190 |
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91,383 |
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233,190 |
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9 |
Other information |
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Coffee Plant Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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14 Fallowfield Crescent |
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Hove |
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East Sussex |
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BN3 7NQ |