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Registered number: 04077889
Bradleys Coffee Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04077889
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 416,102 434,825
Investments 5 50 50
416,152 434,875
CURRENT ASSETS
Stocks 6 73,855 61,939
Debtors 7 75,290 67,589
Cash at bank and in hand 56,782 77,004
205,927 206,532
Creditors: Amounts Falling Due Within One Year 8 (445,746 ) (470,024 )
NET CURRENT ASSETS (LIABILITIES) (239,819 ) (263,492 )
TOTAL ASSETS LESS CURRENT LIABILITIES 176,333 171,383
Creditors: Amounts Falling Due After More Than One Year 9 (3,345 ) (16,722 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (61,875 ) (58,358 )
NET ASSETS 111,113 96,303
CAPITAL AND RESERVES
Called up share capital 10 3 3
Profit and Loss Account 111,110 96,300
SHAREHOLDERS' FUNDS 111,113 96,303
Page 1
Page 2
For the year ending 29 February 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 James Bradley
Director
30/01/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bradleys Coffee Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04077889 . The registered office is Flat 2 Former Town Hall, High Street, Aberdare, Rhondda Cynon Taff, CF44 7AA.
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. 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.
2.3. 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:
Leasehold 5% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 5% reducing balance
2.4. 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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.8. Financial Statements
These financial statements relate to the company as an individual undertaking and not of its group as the group qualifies as a small group.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 49)
34 49
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 319,355 31,666 335,895 686,916
Additions - - 11,196 11,196
Disposals - (16,976 ) - (16,976 )
As at 29 February 2024 319,355 14,690 347,091 681,136
Depreciation
As at 1 March 2023 102,842 22,435 126,814 252,091
Provided during the period 15,969 2,938 11,012 29,919
Disposals - (16,976 ) - (16,976 )
As at 29 February 2024 118,811 8,397 137,826 265,034
Net Book Value
As at 29 February 2024 200,544 6,293 209,265 416,102
As at 1 March 2023 216,513 9,231 209,081 434,825
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5. Investments
Subsidiaries
£
Cost
As at 1 March 2023 50
As at 29 February 2024 50
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 50
As at 1 March 2023 50
6. Stocks
2024 2023
£ £
Materials 73,855 61,939
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,751 -
Other debtors 73,539 67,589
75,290 67,589
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 38,400 42,622
Bank loans and overdrafts 13,378 13,378
Other creditors 345,387 372,210
Taxation and social security 48,581 41,814
445,746 470,024
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,345 16,722
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
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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 4,984 19,935
Later than one year and not later than five years - 4,984
4,984 24,919
12. Related Party Transactions
Included within Creditors are amounts due to the Directors. The loans are unsecured, interest free and repayable on demand. Amount due to Directors £337,022 (2023: £367,241).
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