Registered number
09485198
Horsham Coffee Roaster Limited
Filleted Accounts
31 March 2024
Horsham Coffee Roaster Limited
Registered number: 09485198
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,000 2,000
Tangible assets 4 56,839 64,819
57,839 66,819
Current assets
Stocks 18,500 13,550
Debtors 5 32,634 36,635
Cash at bank and in hand 280,332 221,836
331,466 272,021
Creditors: amounts falling due within one year 7 (231,149) (191,940)
Net current assets 100,317 80,081
Net assets 158,156 146,900
Capital and reserves
Called up share capital 2 2
Profit and loss account 158,154 146,898
Shareholders' funds 158,156 146,900
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs. A. Steenkamp
Director
Approved by the board on 10 September 2024
Horsham Coffee Roaster Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
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:
Plant and machinery and motor vehicles 20% on cost
Fixtures, fittings, and computer equipment 20% on cost
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
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.
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.
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 10,000
At 31 March 2024 10,000
Amortisation
At 1 April 2023 8,000
Provided during the year 1,000
At 31 March 2024 9,000
Net book value
At 31 March 2024 1,000
At 31 March 2023 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 12,567 211,877 12,027 236,471
Additions 3,300 - 2,930 6,230
At 31 March 2024 15,867 211,877 14,957 242,701
Depreciation
At 1 April 2023 6,832 156,522 8,298 171,652
Charge for the year 1,807 11,071 1,332 14,210
At 31 March 2024 8,639 167,593 9,630 185,862
Net book value
At 31 March 2024 7,228 44,284 5,327 56,839
At 31 March 2023 5,735 55,355 3,729 64,819
5 Debtors 2024 2023
£ £
Trade debtors 24,934 25,861
Other debtors 7,700 10,774
32,634 36,635
6 Investments held as current assets 2024 2023
£ £
Fair value - -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments - (11,635)
7 Creditors: amounts falling due within one year 2024 2023
£ £
Pension provider 50,000 50,000
Trade creditors 58,133 54,152
Accruals 650 650
Corporation tax 77,384 42,156
Other taxation and social security costs 240 240
Director's loan account - B Steenkamp 962 962
Director's loan account - A Steenkamp 1,430 1,430
Other creditors 42,350 42,350
231,149 191,940
8 Controlling party
The ultimate controlling party is Mrs. A. Steenkamp.
9 Other information
Horsham Coffee Roaster Limited is a private company limited by shares and incorporated in England. Its registered office is:
Howard's Nursery
Handcross Road
Plummers Plain
West Sussex
RH13 6NX
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