CombiniCo Ltd SC563366 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is The principal activity for the year was as a Cafe. Digita Accounts Production Advanced 6.30.9574.0 true true SC563366 2023-05-01 2024-04-30 SC563366 2024-04-30 SC563366 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 SC563366 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 SC563366 core:CurrentFinancialInstruments 2024-04-30 SC563366 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC563366 core:Non-currentFinancialInstruments 2024-04-30 SC563366 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 SC563366 core:OtherResidualIntangibleAssets 2024-04-30 SC563366 core:FurnitureFittingsToolsEquipment 2024-04-30 SC563366 core:LandBuildings 2024-04-30 SC563366 bus:SmallEntities 2023-05-01 2024-04-30 SC563366 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC563366 bus:FilletedAccounts 2023-05-01 2024-04-30 SC563366 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC563366 bus:RegisteredOffice 2023-05-01 2024-04-30 SC563366 bus:Director6 2023-05-01 2024-04-30 SC563366 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC563366 core:Goodwill 2023-05-01 2024-04-30 SC563366 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 SC563366 core:LandBuildings 2023-05-01 2024-04-30 SC563366 core:PlantMachinery 2023-05-01 2024-04-30 SC563366 countries:Scotland 2023-05-01 2024-04-30 SC563366 2023-04-30 SC563366 core:OtherResidualIntangibleAssets 2023-04-30 SC563366 core:FurnitureFittingsToolsEquipment 2023-04-30 SC563366 core:LandBuildings 2023-04-30 SC563366 2022-05-01 2023-04-30 SC563366 2023-04-30 SC563366 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 SC563366 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 SC563366 core:CurrentFinancialInstruments 2023-04-30 SC563366 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC563366 core:Non-currentFinancialInstruments 2023-04-30 SC563366 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 SC563366 core:FurnitureFittingsToolsEquipment 2023-04-30 SC563366 core:LandBuildings 2023-04-30 iso4217:GBP xbrli:pure

Registration number: SC563366

CombiniCo Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

CombiniCo Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

CombiniCo Ltd

(Registration number: SC563366)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

29,497

7,738

Current assets

 

Stocks

6

12,513

12,132

Debtors

7

23,236

7,774

Cash at bank and in hand

 

281,817

219,042

 

317,566

238,948

Creditors: Amounts falling due within one year

8

(111,817)

(42,317)

Net current assets

 

205,749

196,631

Total assets less current liabilities

 

235,246

204,369

Creditors: Amounts falling due after more than one year

8

(25,376)

(20,211)

Net assets

 

209,870

184,158

Capital and reserves

 

Called up share capital

1,715

1,715

Share premium reserve

347,965

347,965

Capital redemption reserve

154

154

Other reserves

36,550

36,550

Retained earnings

(176,514)

(202,226)

Shareholders' funds

 

209,870

184,158

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

 

CombiniCo Ltd

(Registration number: SC563366)
Statement of Financial Position as at 30 April 2024

Approved and authorised by the Board on 23 January 2025 and signed on its behalf by:
 

.........................................
Hyun Namkoong
Director

 

CombiniCo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
91 South Street
St Andrews
Fife
KY16 9QW

These financial statements were authorised for issue by the Board on 23 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

CombiniCo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

33% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

CombiniCo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 39 (2023 - 30).

 

CombiniCo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2023

12,000

12,000

At 30 April 2024

12,000

12,000

Amortisation

At 1 May 2023

12,000

12,000

At 30 April 2024

12,000

12,000

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

36,032

33,494

69,526

Additions

-

26,460

26,460

At 30 April 2024

36,032

59,954

95,986

Depreciation

At 1 May 2023

36,032

25,756

61,788

Charge for the year

-

4,701

4,701

At 30 April 2024

36,032

30,457

66,489

Carrying amount

At 30 April 2024

-

29,497

29,497

At 30 April 2023

-

7,738

7,738

 

CombiniCo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Other inventories

12,513

12,132

7

Debtors

Current

2024
£

2023
£

Trade debtors

6,217

304

Prepayments

2,199

2,624

Other debtors

14,820

4,846

 

23,236

7,774

 

CombiniCo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

15,835

10,490

Trade creditors

 

31,028

27,481

Taxation and social security

 

1,860

-

Accruals and deferred income

 

34,714

4,346

Other creditors

 

28,380

-

 

111,817

42,317

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

25,376

20,211

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,859

20,211

Hire purchase contracts

14,517

-

25,376

20,211

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,755

10,490

Hire purchase contracts

5,080

-

15,835

10,490