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REGISTERED NUMBER: 07384599 (England and Wales)










Rave Coffee Limited

Financial Statements

for the Year Ended 31st December 2023






Rave Coffee Limited (Registered number: 07384599)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Rave Coffee Limited (Registered number: 07384599)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 44,950 38,750
Tangible assets 5 1,459,898 980,745
1,504,848 1,019,495

CURRENT ASSETS
Stocks 393,460 285,866
Debtors 6 181,670 224,789
Cash at bank and in hand 697,549 694,664
1,272,679 1,205,319
CREDITORS
Amounts falling due within one year 7 942,406 642,229
NET CURRENT ASSETS 330,273 563,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,835,121

1,582,585

CREDITORS
Amounts falling due after more than one
year

8

(86,445

)

(145,531

)

PROVISIONS FOR LIABILITIES 9 (237,350 ) (132,589 )
NET ASSETS 1,511,326 1,304,465

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 10 20,000 20,000
Retained earnings 10 1,491,324 1,284,463
SHAREHOLDERS' FUNDS 1,511,326 1,304,465

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Rave Coffee Limited (Registered number: 07384599)

Balance Sheet - continued
31st 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th November 2024 and were signed on its behalf by:





Ms V H Hodge - Director


Rave Coffee Limited (Registered number: 07384599)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Rave Coffee Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07384599

Registered office: Rave Coffee HQ
Phoenix Way
Cirencester
Gloucestershire
GL7 1RY

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 represents net invoiced sales of goods, excluding value added tax.

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 five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Plant and equipment - 20% on reducing balance
Fixtures and fittings - 20% to 33% on reducing balance
Office equipment - 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 year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Rave Coffee Limited (Registered number: 07384599)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2022 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2023 50,000
Additions 17,035
At 31st December 2023 67,035
AMORTISATION
At 1st January 2023 11,250
Charge for year 10,835
At 31st December 2023 22,085
NET BOOK VALUE
At 31st December 2023 44,950
At 31st December 2022 38,750

Rave Coffee Limited (Registered number: 07384599)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property equipment fittings
£    £    £   
COST
At 1st January 2023 658,598 368,635 35,676
Additions 328,739 142,914 79,068
Disposals - - -
At 31st December 2023 987,337 511,549 114,744
DEPRECIATION
At 1st January 2023 - 75,928 17,913
Charge for year 32,070 54,274 14,392
At 31st December 2023 32,070 130,202 32,305
NET BOOK VALUE
At 31st December 2023 955,267 381,347 82,439
At 31st December 2022 658,598 292,707 17,763

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023 10,666 26,259 1,099,834
Additions - 39,512 590,233
Disposals - (2,249 ) (2,249 )
At 31st December 2023 10,666 63,522 1,687,818
DEPRECIATION
At 1st January 2023 10,216 15,032 119,089
Charge for year 112 7,983 108,831
At 31st December 2023 10,328 23,015 227,920
NET BOOK VALUE
At 31st December 2023 338 40,507 1,459,898
At 31st December 2022 450 11,227 980,745

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 109,855 116,531
Other debtors 71,815 108,258
181,670 224,789

Rave Coffee Limited (Registered number: 07384599)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 544,159 368,440
Taxation and social security 129,016 88,347
Other creditors 269,231 185,442
942,406 642,229

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 86,445 145,531

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 192,478 85,725
Other provisions 44,872 46,864
237,350 132,589

Deferred Other
tax provisions
£    £   
Balance at 1st January 2023 85,725 46,864
Provided during year 106,753 -
Utilised during year - (1,992 )
Balance at 31st December 2023 192,478 44,872

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1st January 2023 1,284,463 20,000 1,304,463
Profit for the year 527,483 527,483
Dividends (320,622 ) (320,622 )
At 31st December 2023 1,491,324 20,000 1,511,324