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Registration number: 03289417

The Coffee Compass Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

The Coffee Compass Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

The Coffee Compass Limited

Company Information

Directors

Richard Jansz

Gregory Janzwell

Company secretary

Rebecca Deborah Jansz

Registered office

Fort Road Depot
Fort Road
Littlehampton
West Sussex
BN17 7QU

Accountants

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Coffee Compass Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Coffee Compass Limited for the year ended 30 April 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of The Coffee Compass Limited, 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 The Coffee Compass Limited and state those matters that we have agreed to state to the Board of Directors of The Coffee Compass Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Coffee Compass Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Coffee Compass Limited 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 of The Coffee Compass Limited. You consider that The Coffee Compass Limited 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 The Coffee Compass Limited. 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 statutory accounts.

......................................

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

23 January 2025

 

The Coffee Compass Limited

(Registration number: 03289417)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

20,461

19,522

Current assets

 

Stocks

5

25,000

25,000

Debtors

6

20,960

19,424

Cash at bank and in hand

 

135,864

143,523

 

181,824

187,947

Creditors: Amounts falling due within one year

7

(123,426)

(114,280)

Net current assets

 

58,398

73,667

Total assets less current liabilities

 

78,859

93,189

Creditors: Amounts falling due after more than one year

7

(12,167)

(22,234)

Net assets

 

66,692

70,955

Capital and reserves

 

Called up share capital

8

40,250

40,250

Retained earnings

26,442

30,705

Shareholders' funds

 

66,692

70,955

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 Profit and Loss Account.

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

.........................................
Richard Jansz
Director

 

The Coffee Compass Limited

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

1

General information

The company (reg. no. 03289417) is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fort Road Depot
Fort Road
Littlehampton
West Sussex
BN17 7QU

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.

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 balance sheet 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

Fixtures, fitting and equipment

20% reducing balance

Motor Vehicles

25% reducing balance

 

The Coffee Compass Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

The Coffee Compass Limited

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 8).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

114,292

15,495

129,787

Additions

-

6,723

6,723

At 30 April 2024

114,292

22,218

136,510

Depreciation

At 1 May 2023

98,753

11,512

110,265

Charge for the year

3,108

2,676

5,784

At 30 April 2024

101,861

14,188

116,049

Carrying amount

At 30 April 2024

12,431

8,030

20,461

At 30 April 2023

15,539

3,983

19,522

5

Stocks

2024
£

2023
£

Other inventories

25,000

25,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

4,219

7,991

Amounts owed by related parties

11

8,473

3,880

Prepayments

 

1,222

1,315

Other debtors

 

7,046

6,238

   

20,960

19,424

 

The Coffee Compass Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

13,314

13,060

Trade creditors

 

61,763

70,502

Taxation and social security

 

42,477

19,653

Accruals and deferred income

 

3,389

5,035

Other creditors

 

2,483

6,030

 

123,426

114,280

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

12,167

22,234

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

40,000

40,000

40,000

40,000

Ordinary B shares of £1 each

100

100

100

100

Ordinary C shares of £1 each

150

150

150

150

40,250

40,250

40,250

40,250

Allotted, called up and not fully paid shares

2024

2023

No.

£

No.

£

Ordinary C shares of £1 each

150

150

150

150

       
 

The Coffee Compass Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,167

22,234

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,057

9,737

Bank overdrafts

3,257

3,323

13,314

13,060

10

Dividends

2024

2023

£

£

Interim dividend of £2.3353 (2023 - £2.4474) per ordinary share

121,402

117,491

 

 

11

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Richard Jansz

Balance owed (to)/from director

501

92,591

(93,093)

(1)

Gregory Janzwell

Balance owed (to)/from director

1

31,161

(31,161)

1

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Richard Jansz

Balance owed (to)/from director

(321)

110,059

(109,238)

501

Gregory Janzwell

Balance owed (to)/from director

-

18,492

(18,491)

1