QIMA COFFEE LTD

Company Registration Number:
10528013 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

QIMA COFFEE LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

QIMA COFFEE LTD

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 264,460 218,919
Tangible assets: 4 821,367 761,690
Total fixed assets: 1,085,827 980,609
Current assets
Stocks: 514,102 115,081
Debtors:   382,328 188,308
Cash at bank and in hand: 24,053 642,951
Total current assets: 920,483 946,340
Creditors: amounts falling due within one year:   (97,606) (322,547)
Net current assets (liabilities): 822,877 623,793
Total assets less current liabilities: 1,908,704 1,604,402
Creditors: amounts falling due after more than one year:   (836,478) (609,243)
Total net assets (liabilities): 1,072,226 995,159
Capital and reserves
Called up share capital: 1,000,000 1,000,000
Profit and loss account: 72,226 (4,841)
Shareholders funds: 1,072,226 995,159

The notes form part of these financial statements

QIMA COFFEE LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 October 2024
and signed on behalf of the board by:

Name: F Sheibani
Status: Director

The notes form part of these financial statements

QIMA COFFEE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

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 recognized when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognized 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.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost, net of accumulated depreciation and impairment losses. Depreciation is charged on all tangible fixed assets, except freehold land, to write off the cost, less any estimated residual value, on a straight-line basis over their expected useful lives. The useful lives are as follows: freehold buildings, leasehold land and buildings, plant and machinery, and fixtures, fittings, tools, and equipment are depreciated over 10 years; motor vehicles are depreciated over 8 years.

Intangible fixed assets and amortisation policy

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Valuation and information policy

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.

Other accounting policies

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. 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.

QIMA COFFEE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 8 7

QIMA COFFEE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible Assets

Total
Cost £
At 01 January 2023 218,919
Additions 45,541
At 31 December 2023 264,460
Net book value
At 31 December 2023 264,460
At 31 December 2022 218,919

QIMA COFFEE LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible Assets

Total
Cost £
At 01 January 2023 928,100
Additions 171,509
At 31 December 2023 1,099,609
Depreciation
At 01 January 2023 166,410
Charge for year 111,832
At 31 December 2023 278,242
Net book value
At 31 December 2023 821,367
At 31 December 2022 761,690