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REGISTERED NUMBER: SC128500 (Scotland)















Unaudited Financial Statements

for the Period 1 April 2023 to 31 December 2023

for

Edinburgh Tea and Coffee Company Ltd.

Edinburgh Tea and Coffee Company Ltd. (Registered number: SC128500)






Contents of the Financial Statements
for the Period 1 April 2023 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Edinburgh Tea and Coffee Company Ltd.

Company Information
for the Period 1 April 2023 to 31 December 2023







DIRECTORS: S J Robinson
K F Moore





REGISTERED OFFICE: 29 Brandon Street
Hamilton
South Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC128500 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Edinburgh Tea and Coffee Company Ltd. (Registered number: SC128500)

Balance Sheet
31 December 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 8,313 19,274
8,313 19,274

CURRENT ASSETS
Stocks 226,765 261,570
Debtors 7 448,756 396,038
Cash at bank and in hand 154,014 226,779
829,535 884,387
CREDITORS
Amounts falling due within one year 8 101,808 146,139
NET CURRENT ASSETS 727,727 738,248
TOTAL ASSETS LESS CURRENT
LIABILITIES

736,040

757,522

CREDITORS
Amounts falling due after more than one
year

9

(21,881

)

(30,290

)

PROVISIONS FOR LIABILITIES (1,820 ) (3,451 )
NET ASSETS 712,339 723,781

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings 682,339 693,781
712,339 723,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Edinburgh Tea and Coffee Company Ltd. (Registered number: SC128500)

Balance Sheet - continued
31 December 2023


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 25 November 2024 and were signed on its behalf by:





S J Robinson - Director


Edinburgh Tea and Coffee Company Ltd. (Registered number: SC128500)

Notes to the Financial Statements
for the Period 1 April 2023 to 31 December 2023

1. STATUTORY INFORMATION

Edinburgh Tea and Coffee Company Ltd. is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from coffee related products and services supplied by the company.

Turnover is measured at the fair value of products and services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 6.67% on cost
Plant and machinery etc - 33% on cost and 20% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Edinburgh Tea and Coffee Company Ltd. (Registered number: SC128500)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2023 - 10 ) .

Edinburgh Tea and Coffee Company Ltd. (Registered number: SC128500)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 December 2023 6,521
AMORTISATION
At 1 April 2023
and 31 December 2023 6,521
NET BOOK VALUE
At 31 December 2023 -
At 31 March 2023 -

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 73,754 180,075 253,829
Additions - 355 355
At 31 December 2023 73,754 180,430 254,184
DEPRECIATION
At 1 April 2023 72,642 161,913 234,555
Charge for period 76 11,240 11,316
At 31 December 2023 72,718 173,153 245,871
NET BOOK VALUE
At 31 December 2023 1,036 7,277 8,313
At 31 March 2023 1,112 18,162 19,274

Edinburgh Tea and Coffee Company Ltd. (Registered number: SC128500)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 December 2023 58,359
DEPRECIATION
At 1 April 2023 49,542
Charge for period 5,372
At 31 December 2023 54,914
NET BOOK VALUE
At 31 December 2023 3,445
At 31 March 2023 8,817

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 193,315 149,398
Amounts owed by group undertakings 225,940 214,741
Other debtors 29,501 31,899
448,756 396,038

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts 9,524 9,138
Hire purchase contracts 759 982
Trade creditors 58,812 104,495
Taxation and social security 26,006 24,699
Other creditors 6,707 6,825
101,808 146,139

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2023
£    £   
Bank loans 21,601 29,496
Hire purchase contracts 280 794
21,881 30,290

Edinburgh Tea and Coffee Company Ltd. (Registered number: SC128500)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2023
£    £   
Bank loans 31,125 38,634
Hire purchase contracts 1,039 1,776
32,164 40,410

HP creditors are secured over the assets to which they relate.

The bank loan is supported by a 100% guarantee from the UK Government.

11. PENSION COMMITMENTS

Included within other creditors are contributions totalling £830 (2023 - £1,075) which were due to the pension scheme at the year end.

12. RELATED PARTY DISCLOSURES

The company operates a loan account with its holding company, OCC Holdings Ltd.

During the year, the company advanced £11,198 to the holding company. At the year end, the balance due from the holding company was £225,940 (2023: £214,741). This loan is unsecured, interest free and has no fixed repayment terms.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is OCC Holdings Ltd.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Edinburgh Tea and Coffee Company Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Edinburgh Tea and Coffee Company Ltd. for the period ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Edinburgh Tea and Coffee Company Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Edinburgh Tea and Coffee Company Ltd. and state those matters that we have agreed to state to the Board of Directors of Edinburgh Tea and Coffee Company Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Edinburgh Tea and Coffee Company Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Edinburgh Tea and Coffee Company Ltd.. You consider that Edinburgh Tea and Coffee Company Ltd. is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Edinburgh Tea and Coffee Company Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


25 November 2024