1 June 2023 v2025.5.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP062077202023-06-012024-05-31062077202024-05-31062077202023-05-3106207720core:WithinOneYear2024-05-3106207720core:WithinOneYear2023-05-3106207720core:AfterOneYear2024-05-3106207720core:AfterOneYear2023-05-3106207720core:ShareCapital2024-05-3106207720core:ShareCapital2023-05-3106207720core:SharePremium2024-05-3106207720core:SharePremium2023-05-3106207720core:RetainedEarningsAccumulatedLosses2024-05-3106207720core:RetainedEarningsAccumulatedLosses2023-05-3106207720bus:Director12023-06-012024-05-3106207720bus:RegisteredOffice2023-06-012024-05-3106207720core:MotorVehicles2023-06-012024-05-3106207720core:FurnitureFittings2023-06-012024-05-3106207720core:PlantMachinery2023-06-012024-05-31062077202022-06-012023-05-3106207720core:NetGoodwill2024-05-3106207720core:PlantMachinery2023-06-0106207720core:PlantMachinery2024-05-3106207720core:PlantMachinery2023-05-310620772012023-06-012024-05-3106207720countries:EnglandWales2023-06-012024-05-3106207720bus:AuditExemptWithAccountantsReport2023-06-012024-05-3106207720bus:PrivateLimitedCompanyLtd2023-06-012024-05-3106207720bus:SmallEntities2023-06-012024-05-3106207720bus:FullAccounts2023-06-012024-05-31
Company registration number:
06207720
Coffee Classics Limited
Unaudited Filleted Financial Statements for the year ended
31 May 2024
Coffee Classics Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Coffee Classics Limited
Year ended
31 May 2024
As described on the statement of financial position, the Board of Directors of
Coffee Classics Limited
are responsible for the preparation of the
financial statements
for the year ended
31 May 2024
, which comprise the income statement, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Paul Beech and Company Ltd
Certified Public Accountants
6 The Terrace
Rugby Road
Lutterworth
Leicestershire
LE17 4BW
United Kingdom
Date:
24 January 2025
Coffee Classics Limited
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 6
168,243
 
186,786
 
Current assets    
Stocks
24,100
 
23,860
 
Debtors 7
186,878
 
217,781
 
Cash at bank and in hand
250,145
 
266,802
 
461,123
 
508,443
 
Creditors: amounts falling due within one year 8
(323,170
)
(308,262
)
Net current assets
137,953
 
200,181
 
Total assets less current liabilities 306,196   386,967  
Creditors: amounts falling due after more than one year 9
(44,913
)
(70,704
)
Provisions for liabilities
(28,799
)
(32,354
)
Net assets
232,484
 
283,909
 
Capital and reserves    
Called up share capital
101
 
101
 
Share premium
1,990
 
1,990
 
Profit and loss account
230,393
 
281,818
 
Shareholders funds
232,484
 
283,909
 
For the year ending
31 May 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
24 January 2025
, and are signed on behalf of the board by:
M Phethean
Director
Company registration number:
06207720
Coffee Classics Limited
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 1 The Stables Braunston Business Park
,
London Road Braunston
,
Davenrtry
,
Northamptonshire
,
NN11 7HB
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
25% reducing balance
Fixtures and fittings
20% straight line
Plant and machinery
20% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured at amortised cost.
All other financial instruments are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4 Average number of employees

The average number of persons employed by the company during the year was
25
(2023:
22.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 June 2023
and
31 May 2024
2,000
 
Amortisation  
At
1 June 2023
and
31 May 2024
2,000
 
Carrying amount  
At
31 May 2024
-  
At 31 May 2023 -  

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 June 2023
257,507
 
Additions
62,525
 
Disposals
(46,675
)
At
31 May 2024
273,357
 
Depreciation  
At
1 June 2023
70,721
 
Charge
50,555
 
Disposals
(16,162
)
At
31 May 2024
105,114
 
Carrying amount  
At
31 May 2024
168,243
 
At 31 May 2023
186,786
 

7 Debtors

20242023
££
Trade debtors
186,878
 
213,081
 
Other debtors -  
4,700
 
186,878
 
217,781
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors
117,645
 
103,569
 
Taxation and social security
137,830
 
121,311
 
Other creditors
57,695
 
73,382
 
323,170
 
308,262
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
11,597
 
21,567
 
Other creditors
33,316
 
49,137
 
44,913
 
70,704
 

10 Director's advances, credit and guarantees

During the year the director entered into the following advances and credits with the company. Interest was charged at the official rate
M Phethean
2024
Balance b/f £4,699
Repaid £34,199
Advances 29,141
Balance c/f £(359)
2023
Balance b/f £(139)
Advances £4,838
Balance c/f £4,699