Company Registration No. 09235954 (England and Wales)
Pilgrims Coffee Ltd.
Unaudited accounts
for the year ended 31 March 2024
Pilgrims Coffee Ltd.
Statement of financial position
as at 31 March 2024
Tangible assets
123,296
120,638
Cash at bank and in hand
118,654
84,420
Creditors: amounts falling due within one year
(70,952)
(56,620)
Net current assets
72,767
80,257
Total assets less current liabilities
196,063
200,895
Creditors: amounts falling due after more than one year
(11,667)
(21,667)
Provisions for liabilities
Deferred tax
(22,489)
(22,048)
Net assets
161,907
157,180
Called up share capital
2
2
Profit and loss account
161,905
157,178
Shareholders' funds
161,907
157,180
For the year ending 31 March 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2024 and were signed on its behalf by
Andrew Mundy
Director
Company Registration No. 09235954
Pilgrims Coffee Ltd.
Notes to the Accounts
for the year ended 31 March 2024
Pilgrims Coffee Ltd. is a private company, limited by shares, registered in England and Wales, registration number 09235954. The registered office is Falkland House Marygate, Holy Island, Berwick-Upon-Tweed, Northumberland, TD15 2SJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised 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
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Computer equipment
3 year straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Pilgrims Coffee Ltd.
Notes to the Accounts
for the year ended 31 March 2024
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2023
8,564
199,332
30,663
6,003
504
245,066
Additions
4,068
9,161
-
14,830
170
28,229
At 31 March 2024
12,632
208,493
30,663
20,833
674
273,295
At 1 April 2023
-
102,096
21,393
491
448
124,428
Charge for the year
-
19,626
1,853
3,866
226
25,571
At 31 March 2024
-
121,722
23,246
4,357
674
149,999
At 31 March 2024
12,632
86,771
7,417
16,476
-
123,296
At 31 March 2023
8,564
97,236
9,270
5,512
56
120,638
Amounts falling due within one year
Trade debtors
9,899
17,510
Accrued income and prepayments
562
20,444
Other debtors
10,500
2,000
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
-
3,823
Trade creditors
18,390
15,412
Taxes and social security
26,398
17,468
Other creditors
8,205
7,890
Loans from directors
44
14
Pilgrims Coffee Ltd.
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
1,000
5,250
1,000
5,250
Director's loan account
1,000
5,250
1,000
5,250
2,000
10,500
2,000
10,500
9
Average number of employees
During the year the average number of employees was 10 (2023: 9).