Registered number
08766080
Coffee 212 Limited
Filleted Accounts
30 April 2024
Coffee 212 Limited
Registered number: 08766080
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 11,478
Tangible assets 4 - 7,932
- 19,410
Current assets
Stocks - 1,700
Debtors 5 12,195 4,842
Cash at bank and in hand 766 73,340
12,961 79,882
Creditors: amounts falling due within one year 6 (9,339) (49,143)
Net current assets 3,622 30,739
Total assets less current liabilities 3,622 50,149
Creditors: amounts falling due after more than one year 7 (2,916) (15,167)
Provisions for liabilities - (1,048)
Net assets 706 33,934
Capital and reserves
Called up share capital 100 100
Profit and loss account 606 33,834
Shareholder's funds 706 33,934
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Holt
Director
Approved by the board on 27 January 2025
Coffee 212 Limited
Notes to the Accounts
for the period from 1 April 2023 to 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% and 33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 9
3 Intangible fixed assets £
Leasehold property imorovements
Cost
At 1 April 2023 39,957
Disposals (39,957)
At 30 April 2024 -
Amortisation
At 1 April 2023 28,479
On disposals (28,479)
At 30 April 2024 -
Net book value
At 30 April 2024 -
At 31 March 2023 11,478
Leasehold property improvements are being written off at 15% per annum on a reducing balance method.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 14,144
Disposals (14,144)
At 30 April 2024 -
Depreciation
At 1 April 2023 6,212
On disposals (6,212)
At 30 April 2024 -
Net book value
At 30 April 2024 -
At 31 March 2023 7,932
5 Debtors 2024 2023
£ £
Other debtors 12,195 4,842
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,000 7,000
Trade creditors 2,337 6,703
Taxation and social security costs 2 17,287
Other creditors - 18,153
9,339 49,143
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,916 15,167
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases - 25,008
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
K Holt
Directors current account (3,165) 40,610 (30,559) 6,886
(3,165) 40,610 (30,559) 6,886
10 Related party transactions
A dividend of £22000 was paid to the director during the period.
11 Controlling party
Throughout the period the company was under the control of K Holt, the sole director and shareholder.
12 Other information
Coffee 212 Limited is a private company limited by shares and incorporated in England. Its registered office is:
5a Bath Place
Taunton
Somerset
TA1 4ER
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