BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the wholesaling of coffee and coffee products. 29 January 2025 0 0 NI055914 2024-06-30 NI055914 2023-06-30 NI055914 2022-06-30 NI055914 2023-07-01 2024-06-30 NI055914 2022-07-01 2023-06-30 NI055914 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI055914 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI055914 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI055914 uk-bus:FullAccounts 2023-07-01 2024-06-30 NI055914 uk-bus:Director1 2023-07-01 2024-06-30 NI055914 uk-bus:CompanySecretary1 2023-07-01 2024-06-30 NI055914 uk-bus:RegisteredOffice 2023-07-01 2024-06-30 NI055914 uk-bus:Agent1 2023-07-01 2024-06-30 NI055914 uk-bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 NI055914 uk-core:ShareCapital 2024-06-30 NI055914 uk-core:ShareCapital 2023-06-30 NI055914 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI055914 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI055914 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI055914 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI055914 uk-bus:FRS102 2023-07-01 2024-06-30 NI055914 uk-core:PlantMachinery 2023-07-01 2024-06-30 NI055914 uk-core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI055914 uk-core:MotorVehicles 2023-07-01 2024-06-30 NI055914 uk-core:CostValuation 2023-06-30 NI055914 uk-core:AdditionsToInvestments 2023-06-30 NI055914 uk-core:AdditionsToInvestments 2024-06-30 NI055914 uk-core:CostValuation 2024-06-30 NI055914 uk-core:CurrentFinancialInstruments 2024-06-30 NI055914 uk-core:CurrentFinancialInstruments 2023-06-30 NI055914 uk-core:WithinOneYear 2024-06-30 NI055914 uk-core:WithinOneYear 2023-06-30 NI055914 uk-core:WithinOneYear 2024-06-30 NI055914 uk-core:WithinOneYear 2023-06-30 NI055914 uk-core:WithinOneYear 2024-06-30 NI055914 uk-core:WithinOneYear 2023-06-30 NI055914 uk-core:AfterOneYear 2024-06-30 NI055914 uk-core:AfterOneYear 2023-06-30 NI055914 uk-core:AfterOneYear 2024-06-30 NI055914 uk-core:AfterOneYear 2023-06-30 NI055914 uk-core:BetweenOneTwoYears 2024-06-30 NI055914 uk-core:BetweenOneTwoYears 2023-06-30 NI055914 uk-core:BetweenOneFiveYears 2024-06-30 NI055914 uk-core:BetweenOneFiveYears 2023-06-30 NI055914 uk-core:MoreThanFiveYears 2024-06-30 NI055914 uk-core:MoreThanFiveYears 2023-06-30 NI055914 uk-core:OtherMiscellaneousReserve 2023-06-30 NI055914 uk-core:OtherMiscellaneousReserve 2023-07-01 2024-06-30 NI055914 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 NI055914 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-06-30 NI055914 uk-core:OtherDeferredTax 2024-06-30 NI055914 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-06-30 NI055914 uk-core:OtherMiscellaneousReserve 2024-06-30 NI055914 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI055914
 
 
Bailies Coffee Co. Ltd
 
Unaudited Financial Statements
 
for the financial year ended 30 June 2024



Bailies Coffee Co. Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Russell Bailie
 
 
Company Secretary Siobhan Bailie
 
 
Company Registration Number NI055914
 
 
Registered Office and Business Address 27 Stockmans Way
Unit 1
Belfast
BT9 7ET
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
 
Bankers Ulster Bank
  11-16 Donegal Square east
  Belfast
  BT1 5UB
   
   
  AIB (NI) Ltd
  35 University Road
  Belfast
  BT7 1NH



Bailies Coffee Co. Ltd

CHARTERED ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of Bailies Coffee Co. Ltd
for the financial year ended 30 June 2024
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 30 June 2024 as set out on pages  to 14 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of Bailies Coffee Co. Ltd, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 30 June 2024 your duty to ensure that Bailies Coffee Co. Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bailies Coffee Co. Ltd. You consider that Bailies Coffee Co. Ltd is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Bailies Coffee Co. Ltd. For this reason, we have not verified the adequacy, 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 financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
29 January 2025



Bailies Coffee Co. Ltd
Company Registration Number: NI055914
STATEMENT OF FINANCIAL POSITION
as at 30 June 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 272,524 290,831
Financial assets 5 1,337,285 1,617,290
───────── ─────────
Non-Current Assets 1,609,809 1,908,121
───────── ─────────
 
Current Assets
Inventories 6 429,424 458,855
Receivables 7 1,615,912 1,315,386
Cash and cash equivalents 130,471 161,649
───────── ─────────
2,175,807 1,935,890
───────── ─────────
Payables: amounts falling due within one year 8 (1,606,323) (1,779,418)
───────── ─────────
Net Current Assets 569,484 156,472
───────── ─────────
Total Assets less Current Liabilities 2,179,293 2,064,593
 
Payables:
amounts falling due after more than one year 9 (19,094) (19,544)
 
Provisions for liabilities 12 (3,357) 5,111
───────── ─────────
Net Assets 2,156,842 2,050,160
═════════ ═════════
 
Equity
Called up share capital 10 10
Retained earnings 2,156,832 2,050,150
───────── ─────────
Equity attributable to owners of the company 2,156,842 2,050,160
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 29 January 2025
           
           
           
________________________________          
Russell Bailie          
Director          
           



Bailies Coffee Co. Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 June 2024

   
1. General Information
 
Bailies Coffee Co. Ltd is a company limited by shares incorporated in Northern Ireland. 27 Stockmans Way, Unit 1, Belfast, BT9 7ET is the registered office, which is also the principal place of business of the company . The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 June 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% straight line
  Fixtures, fittings and equipment - 25% straight line
  Motor vehicles - 25% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the year in which it is receivable.
 
Inventories
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 26, (2023 - 20).
           
4. Property, plant and equipment
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 July 2023 2,888,710 352,617 107,144 3,348,471
Additions 159,143 8,289 - 167,432
Disposals (11,679) - (60,461) (72,140)
  ───────── ───────── ───────── ─────────
At 30 June 2024 3,036,174 360,906 46,683 3,443,763
  ───────── ───────── ───────── ─────────
Depreciation
At 1 July 2023 2,646,277 325,220 86,143 3,057,640
Charge for the financial year 160,292 10,192 4,984 175,468
On disposals (7,074) - (54,795) (61,869)
  ───────── ───────── ───────── ─────────
At 30 June 2024 2,799,495 335,412 36,332 3,171,239
  ───────── ───────── ───────── ─────────
Carrying amount
At 30 June 2024 236,679 25,494 10,351 272,524
  ═════════ ═════════ ═════════ ═════════
At 30 June 2023 242,433 27,397 21,001 290,831
  ═════════ ═════════ ═════════ ═════════
           
4.1. Property, plant and equipment continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2024   2023  
  Carrying Depreciation Carrying Depreciation
  amount charge amount charge
  £ £ £ £
 
Plant and machinery 31,912 5,511 - -
Motor vehicles 10,347 4,984 20,997 6,999
  ───────── ───────── ───────── ─────────
  42,259 10,495 20,997 6,999
  ═════════ ═════════ ═════════ ═════════
       
5. Financial fixed assets
  Other Total
  investments  
     
Investments £ £
Cost
At 1 July 2023 1,617,290 1,617,290
Additions (280,005) (280,005)
  ───────── ─────────
At 30 June 2024 1,337,285 1,337,285
  ───────── ─────────
Carrying amount
At 30 June 2024 1,337,285 1,337,285
  ═════════ ═════════
At 30 June 2023 1,617,290 1,617,290
  ═════════ ═════════
       
6. Inventories 2024 2023
  £ £
 
Raw materials 429,424 458,855
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Receivables 2024 2023
  £ £
 
Trade receivables 1,328,493 865,681
Taxation  (Note 10) - 8,870
Prepayments and accrued income 287,419 440,835
  ───────── ─────────
  1,615,912 1,315,386
  ═════════ ═════════
       
8. Payables 2024 2023
Amounts falling due within one year £ £
 
Bank loan 14,738 150,541
Net obligations under finance leases
and hire purchase contracts 15,673 13,605
Trade payables 1,241,323 1,194,569
Taxation  (Note 10) 87,588 161,920
Director's current account 134,979 88,994
Other creditors 2,398 41,938
Accruals:
Pension accrual 5,355 3,803
Other accruals 104,269 124,048
  ───────── ─────────
  1,606,323 1,779,418
  ═════════ ═════════
       
9. Payables 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan - 13,750
Finance leases and hire purchase contracts 19,094 5,794
  ───────── ─────────
  19,094 19,544
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 14,738 150,541
Repayable between one and two years - 13,750
  ───────── ─────────
  14,738 164,291
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 15,673 13,605
Repayable between one and five years 14,951 5,794
Repayable after five years 4,143 -
  ───────── ─────────
  34,767 19,399
  ═════════ ═════════
       
10. Taxation 2024 2023
  £ £
 
Receivables:
VAT - 8,870
  ═════════ ═════════
Payables:
VAT 5,566 -
Corporation tax 60,953 144,379
PAYE / NI 21,069 17,541
  ───────── ─────────
  87,588 161,920
  ═════════ ═════════
       
11. Details of creditors
 
Security given in respect of creditors
There are currently one registered charge;

AIB Group (UK) PLC have an outstanding charge from 3 June 2014. This debenture includes a mortgage over all the company's freehold and leasehold lands, hereditaments, premises, property and all chattels both present and furture, including without prejudice to the generality of the forgoring, the company's property and title to which is not registered or registerable in the land registry.

Post year end HSBC UK Bank PLC took out a fixed and floating charge over all assets and a floating charge covers all the property or undertaking of the company, which contains a negative pledge.
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start (5,111) (5,111) (800)
Charged to profit and loss 8,468 8,468 (4,311)
  ───────── ───────── ─────────
At financial year end 3,357 3,357 (5,111)
  ═════════ ═════════ ═════════
           
13. Related party transactions
 
Bailies Roasterie LLP

Bailies Coffee Co. Ltd is a member in Bailies Roasterie LLP.

As at 1 July 2023 Bailies Coffee Co. Ltd owed Bailies Roasterie LLP £882,131, this balance is included within trade creditors.  During the financial year net transactions between the two entities totalled £34,560.  As at 30 June 2024 Bailies Coffee Co. Ltd owed Bailies Roasterie LLP £847,571 this balance is included within trade creditors.  Bailies Coffee Co Ltd also has accrued income of £177,923 and accrued charges of £15,333 in relation to Bailies Roasterie LLP.

As at 1 July 2023 Bailies Roasterie LLP owed Bailies Coffee Co. Ltd £150,359 this balance is included within trade debtors.
During the financial year net transactions between the two entities were £348,280.  As at 30 June 2024 Bailies Roasterie LLP owed Bailies Coffee Co. Ltd £498,639 this balance is included within trade debtors.

Bailies Coffee Co. Ltd also has an investment in Bailies Roasterie LLP.  As at 1 July 2023 Bailies Coffee Co. Ltd had invested £1,617,290 in Bailies Roasterie LLP. During the financial year Bailies Coffee Co. Ltd had drawings of £310,887 and received a profit share of £30,882. As at 30 June 2024 the investment held by Bailies Coffee Co. Ltd in Bailies Roasterie LLP was £1,337,285.

Bailies LLP
Bailies Coffee Co Ltd is a member in Bailies LLP. As at 1 July 2023 Bailies Coffee Co owed Bailies LLP £35,000. During the financial year Bailies LLP charged £7,000 to Bailies Coffee Co Ltd for goods and services provided. Bailies Coffee Co Ltd also paid Bailies LLP £7,000 during the financial year. As at 30 June 2024 Bailies Coffee Co Ltd owed Bailies LLP £35,000.
   
14. Director's advances, credits and guarantees
 
As at the 1st July 2023 Bailies Coffee Co. Ltd owed the director £88,994. During the year the net transactions between the company and director amounted to £45,985. As at the 30th June 2024 Bailies Coffee Co. Ltd owed the director £134,979. This loan is interest free and repayable on demand.