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Registered number: 12130126
Big Shot Coffee Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
djca Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Big Shot Coffee Ltd For The Year Ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Big Shot Coffee Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Big Shot Coffee Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Big Shot Coffee Ltd and state those matters that we have agreed to state to the directors of Big Shot Coffee Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Big Shot Coffee Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that Big Shot Coffee Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Big Shot Coffee Ltd . You consider that Big Shot Coffee Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Big Shot Coffee 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 financial statements.
Signed
Robert Fiford FCCA
28/01/2025
djca Limited
ACCA
154-160 Fleet Street
London
EC4A 2DQ
Page 1
Page 2
Balance Sheet
Registered number: 12130126
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,393 13,489
Tangible Assets 5 13,089 18,194
22,482 31,683
CURRENT ASSETS
Stocks 6 891 820
Debtors 7 5,096 7,180
Cash at bank and in hand 32,408 7,674
38,395 15,674
Creditors: Amounts Falling Due Within One Year 8 (67,946 ) (69,871 )
NET CURRENT ASSETS (LIABILITIES) (29,551 ) (54,197 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,069 ) (22,514 )
Creditors: Amounts Falling Due After More Than One Year 9 (26,250 ) (31,005 )
NET LIABILITIES (33,319 ) (53,519 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (33,419 ) (53,619 )
SHAREHOLDERS' FUNDS (33,319) (53,519)
Page 2
Page 3
For the year ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S Hutchison
Director
28/01/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Big Shot Coffee Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12130126 . The registered office is 2 Princes Court, Princes Gardens, Margate, CT9 3BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors offer their continued support to the company and will not ask for repayment of the directors loan for at least one year from the balance sheet date.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight line
Motor Vehicles 25% Straight line
Computer Equipment 33 % Straight line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
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4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 20,480
As at 31 July 2024 20,480
Amortisation
As at 1 August 2023 6,991
Provided during the period 4,096
As at 31 July 2024 11,087
Net Book Value
As at 31 July 2024 9,393
As at 1 August 2023 13,489
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 30,359 10,000 805 41,164
Additions 2,389 - 344 2,733
As at 31 July 2024 32,748 10,000 1,149 43,897
Depreciation
As at 1 August 2023 17,948 4,319 703 22,970
Provided during the period 6,272 1,420 146 7,838
As at 31 July 2024 24,220 5,739 849 30,808
Net Book Value
As at 31 July 2024 8,528 4,261 300 13,089
As at 1 August 2023 12,411 5,681 102 18,194
6. Stocks
2024 2023
£ £
Stock 891 820
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,529 1,061
Other debtors 3,567 6,119
5,096 7,180
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 4,755 4,590
Other taxes and social security 4,748 4,821
VAT 8,292 8,210
Other creditors 300 122
Accruals and deferred income 238 329
Directors' loan accounts 49,613 51,799
67,946 69,871
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 26,250 31,005
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 12,884 12,000
Later than one year and not later than five years 16,148 28,000
29,032 40,000
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