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REGISTERED NUMBER: 14616158 (England and Wales)















Financial Statements

for the Period 25 January 2023 to 31 December 2023

for

Heylo Coffee Ltd

Heylo Coffee Ltd (Registered number: 14616158)

Contents of the Financial Statements
for the Period 25 January 2023 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Heylo Coffee Ltd

Company Information
for the Period 25 January 2023 to 31 December 2023







DIRECTORS: U Doglioni Majer
D Biro





REGISTERED OFFICE: 2 Craven Road
Ealing
London
W5 2UA





REGISTERED NUMBER: 14616158 (England and Wales)





AUDITORS: Merchant Mackinlay Simpson Ltd
Statutory Auditors
2 Craven Road
Ealing
London
W5 2UA

Heylo Coffee Ltd (Registered number: 14616158)

Balance Sheet
31 December 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 5,908

CURRENT ASSETS
Stocks 50,742
Debtors 5 7,827
Cash at bank and in hand 49,057
107,626
CREDITORS
Amounts falling due within one year 6 131,284
NET CURRENT LIABILITIES (23,658 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,750 )

CREDITORS
Amounts falling due after more than one
year

7

(112,500

)

PROVISIONS FOR LIABILITIES (1,123 )
NET LIABILITIES (131,373 )

CAPITAL AND RESERVES
Called up share capital 8 882
Retained earnings 9 (132,255 )
SHAREHOLDERS' FUNDS (131,373 )

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 8 October 2024 and were signed on its behalf by:





U Doglioni Majer - Director


Heylo Coffee Ltd (Registered number: 14616158)

Notes to the Financial Statements
for the Period 25 January 2023 to 31 December 2023


1. STATUTORY INFORMATION

Heylo Coffee Ltd 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.

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 derived from the sale of coffee machines and other related items which is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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

Taxation
Taxation for the period 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Heylo Coffee Ltd (Registered number: 14616158)

Notes to the Financial Statements - continued
for the Period 25 January 2023 to 31 December 2023


2. ACCOUNTING POLICIES - continued

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Going concern
The financial statements have been prepared on the basis of going concern, which assumes that the company will be in operational existence for the foreseeable future. The validity of this assumption depends on the company being able to trade profitably in the future and the continued support from the director, Mr U Doglioni Majer, an ultimate controlling party.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 7,124
At 31 December 2023 7,124
DEPRECIATION
Charge for period 1,216
At 31 December 2023 1,216
NET BOOK VALUE
At 31 December 2023 5,908

Heylo Coffee Ltd (Registered number: 14616158)

Notes to the Financial Statements - continued
for the Period 25 January 2023 to 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 7,827

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 84,407
Amounts owed to group undertakings 36,377
Taxation and social security 1,302
Other creditors 9,198
131,284

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Amounts owed to group undertakings 112,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1,000 Ordinary Shares €1 882

1,000 Ordinary Shares shares of €1 each were allotted and fully paid for cash at par during the period.

9. RESERVES
Retained
earnings
£   

Deficit for the period (132,255 )
At 31 December 2023 (132,255 )

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

The Report of the Auditors was unqualified.

Mr Ketan Ramesh Patel FCCA (Senior Statutory Auditor)
for and on behalf of Merchant Mackinlay Simpson Ltd

Heylo Coffee Ltd (Registered number: 14616158)

Notes to the Financial Statements - continued
for the Period 25 January 2023 to 31 December 2023


11. RELATED PARTY DISCLOSURES

During the period 31 December 2023, Heylo Coffee Ltd received two loans from VEA Ventures s.r.l., Heylo Coffee Ltd's holding company. As at 31 December 2023 a total of £125,000 was outstanding. Interest is charged on these loans at 2% per annum. During the year a total of £746 interest was charged of which £375 is outstanding at the year-end.

Furthermore, VEA Ventures s.r.l. has paid for various expenses upon incorporation, these costs amounted to £20,974. This balance is outstanding to VEA Ventures s.r.l. at the year-end.

During the period ended 31 December 2023, Heylo Coffee Ltd purchased stock from Heylo s.r.l., a group company. As at 31 December 2023, a total of £78,859 remained outstanding to Heylo s.r.l. which is included within trade creditors. This transaction is at arms length.

Heylo s.r.l. has also paid for various expenses upon incorporation, these costs amounted to £2,903. This balance is outstanding to Heylo s.r.l. at the year-end.