Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31false2022-11-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13692271 2022-11-01 2023-10-31 13692271 2021-10-20 2022-10-31 13692271 2023-10-31 13692271 2022-10-31 13692271 c:Director1 2022-11-01 2023-10-31 13692271 d:Buildings d:ShortLeaseholdAssets 2022-11-01 2023-10-31 13692271 d:Buildings d:ShortLeaseholdAssets 2023-10-31 13692271 d:Buildings d:ShortLeaseholdAssets 2022-10-31 13692271 d:CurrentFinancialInstruments 2023-10-31 13692271 d:CurrentFinancialInstruments 2022-10-31 13692271 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 13692271 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 13692271 d:ShareCapital 2023-10-31 13692271 d:ShareCapital 2022-10-31 13692271 d:RetainedEarningsAccumulatedLosses 2023-10-31 13692271 d:RetainedEarningsAccumulatedLosses 2022-10-31 13692271 c:FRS102 2022-11-01 2023-10-31 13692271 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 13692271 c:FullAccounts 2022-11-01 2023-10-31 13692271 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 13692271









LANTERN COFFEE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
LANTERN COFFEE LIMITED
REGISTERED NUMBER: 13692271

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,434
7,376

  
6,434
7,376

Current assets
  

Debtors: amounts falling due within one year
 5 
710
19,657

Cash at bank and in hand
 6 
1,835
7,755

  
2,545
27,412

Creditors: amounts falling due within one year
 7 
(43,360)
(47,158)

Net current liabilities
  
 
 
(40,815)
 
 
(19,746)

Total assets less current liabilities
  
(34,381)
(12,370)

  

Net liabilities
  
(34,381)
(12,370)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(34,382)
(12,371)

  
(34,381)
(12,370)


Page 1

 
LANTERN COFFEE LIMITED
REGISTERED NUMBER: 13692271
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Z Goodman
Director

Date: 31 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LANTERN COFFEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Lantern Coffee Limited is a private company, limited by shares and incorporated in England and Wales. The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The company was incorporated on 20th October 2021 and commenced to trade on that date.
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on its parent company for financial support, which the director is confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 31 October 2023, the company had net liabilities of £34,381. The shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the director and shareholders.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
LANTERN COFFEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
LANTERN COFFEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Short-term leasehold property

£



Cost or valuation


At 1 November 2022
7,851



At 31 October 2023

7,851



Depreciation


At 1 November 2022
475


Charge for the year on owned assets
942



At 31 October 2023

1,417



Net book value



At 31 October 2023
6,434



At 31 October 2022
7,376

Page 5

 
LANTERN COFFEE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
710
-

Prepayments and accrued income
-
19,657

710
19,657



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,835
7,755

1,835
7,755



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,520
4,915

Other taxation and social security
407
-

Other creditors
38,633
36,151

Accruals and deferred income
1,800
6,092

43,360
47,158


 
Page 6