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REGISTERED NUMBER: 07562551 (England and Wales)









AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CAFEPOD LIMITED

CAFEPOD LIMITED (REGISTERED NUMBER: 07562551)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CAFEPOD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P Grainger
B K Hadfield
S P Heidempergher
A Morgan
A B Weston-Webb





SECRETARY: Khepri Corporate Services Limited





REGISTERED OFFICE: 95 Chancery Lane
London
WC2A 1DT





REGISTERED NUMBER: 07562551 (England and Wales)





AUDITORS: Hartley Fowler LLP
Statutory Auditors
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

CAFEPOD LIMITED (REGISTERED NUMBER: 07562551)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,500

CURRENT ASSETS
Stocks 440,814 563,183
Debtors 5 306,313 547,217
Cash at bank 30,995 61,373
778,122 1,171,773
CREDITORS
Amounts falling due within one year 6 881,525 1,340,199
NET CURRENT LIABILITIES (103,403 ) (168,426 )
TOTAL ASSETS LESS CURRENT LIABILITIES (103,403 ) (166,926 )

CREDITORS
Amounts falling due after more than one year 7 107,545 25,000
NET LIABILITIES (210,948 ) (191,926 )

CAPITAL AND RESERVES
Called up share capital 59,594 59,594
Share premium 5,125,895 5,125,895
Share Option Reserve 95,947 95,947
Retained earnings (5,492,384 ) (5,473,362 )
(210,948 ) (191,926 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





P Grainger - Director


CAFEPOD LIMITED (REGISTERED NUMBER: 07562551)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Cafepod Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Basic financial instruments
Cash in hand is measured at transaction price.

Debtors: Trade, other debtors and amounts owed by participating interests are measured at transaction price. Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business less any impairment provision. These are recognised as current assets as collection is due within one year or less.

Creditors: Amounts falling due within one year are measured at transaction price. Trade Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business. These are classified as current liabilities as payment is due within one year or less.

Ordinary shares are classified as equity.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.


CAFEPOD LIMITED (REGISTERED NUMBER: 07562551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Due to the ongoing support of the company's principal shareholders the directors believes that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Share options
The company operates an EMI share option scheme and an unapproved share option scheme for certain employees, engaging in equity settled share based payment transactions for recruitment and retention purposes. Details of the options within this scheme are set out in the Share Based Payment Transactions note.

It is the policy of the company to grant share options at an exercise price between £4.30 and £5.00. Year end fair market values have been determined using the Black Scholes model, which takes into account the exercise price of the option, the current share price, the risk free interest rate, the expected volatility of the share price over the life of the option and other relevant factors. This in accordance with FRS 102 'Share-based Payment'.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

CAFEPOD LIMITED (REGISTERED NUMBER: 07562551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 18,000
AMORTISATION
At 1 January 2023 16,500
Charge for year 1,500
At 31 December 2023 18,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 205,452 374,023
Other debtors 100,861 173,194
306,313 547,217

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 86,426 10,000
Trade creditors 606,616 1,014,507
Taxation and social security 23,934 25,107
Other creditors 164,549 290,585
881,525 1,340,199

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 107,545 25,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other creditors 60,690 111,512
Bank loans 139,243 -
199,933 111,512

The assets of the company are subject to fixed and floating charges in respect of borrowings of the entity.

CAFEPOD LIMITED (REGISTERED NUMBER: 07562551)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Askew (Senior Statutory Auditor)
for and on behalf of Hartley Fowler LLP

10. SHARE-BASED PAYMENT TRANSACTIONS

The company operates two share option schemes, an EMI scheme and an unapproved option scheme. These are in respect of employee and director recruitment and retention purposes.

The following share options are in issue at the year end:

Options Granted





Brought
forward


Non
conditional



Conditional

Options
exercised /
lapsed


Carried
forward
Vesting
period
(from date
of grant)
Exercise
price per
ordinary
share
EMI
Directors12,509---12,5090-2 years£4.30-£5.00
Employees250---2500 years£4.30
Total12,759---12,759

Unapproved
Employees 18,828---18,8280-4 years£4.30-£5.00
Total31,587---31,587

In arriving at the fair value, each grant of an option is valued separated using the Black Scholes Model and the resulting fair value charged to the profit and loss account over the vesting period. This applies to all schemes.

The expected life used in the model has been adjusted, based on management's best estimate for the effects of non transferability, exercise restrictions and behavioural considerations. The following table lists the assumptions used in the model:

Expected volatility50%
Risk free interest rate1.188-1.961%
Expected life of option (years)10
Exercise price£4.30 - £5.00
Expected dividendsNone