Registered number
13560231
Bean Coffee Liverpool No. 1 Ltd.
Unaudited Filleted Accounts
31 March 2024
Bean Coffee Liverpool No. 1 Ltd.
Registered number: 13560231
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,062 -
Tangible assets 4 324,912 179,751
330,974 179,751
Current assets
Stocks 12,000 10,454
Debtors 5 37,783 30,077
Cash at bank and in hand 32,104 7,262
81,887 47,793
Creditors: amounts falling due within one year 6 (298,129) (218,788)
Net current liabilities (216,242) (170,995)
Total assets less current liabilities 114,732 8,756
Creditors: amounts falling due after more than one year 7 (36,274) -
Net assets 78,458 8,756
Capital and reserves
Called up share capital 100 100
Profit and loss account 78,358 8,656
Shareholder's funds 78,458 8,756
The directors are 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 directors acknowledge their 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.
J Whyte
Director
Approved by the board on 3 February 2025
Bean Coffee Liverpool No. 1 Ltd.
Notes to the Accounts
for the year ended 31 March 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:
Shopfitting costs 5% reducing balance
Plant and machinery 20% reducing balance
Computer equipment 25% 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 12
3 Intangible fixed assets £
Lease costs SDLT
Cost
Additions 6,736
At 31 March 2024 6,736
Amortisation
Provided during the year 674
At 31 March 2024 674
Net book value
At 31 March 2024 6,062
Lease costs are being written off in equal annual instalments over its term of 10 years.
4 Tangible fixed assets
Improvements to property Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 176,889 20,371 197,260
Additions 105,934 70,824 176,758
At 31 March 2024 282,823 91,195 374,018
Depreciation
At 1 April 2023 12,212 5,297 17,509
Charge for the year 14,141 17,456 31,597
At 31 March 2024 26,353 22,753 49,106
Net book value
At 31 March 2024 256,470 68,442 324,912
At 31 March 2023 164,677 15,074 179,751
5 Debtors 2024 2023
£ £
Trade debtors 701 111
Other debtors 37,082 29,966
37,783 30,077
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 97,621 155,283
Taxation and social security costs 83,730 62,311
Other creditors 116,778 1,194
298,129 218,788
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 36,274 -
8 Related party transactions
At 31 March 2024, the company owed £15,100 (2023 - £16,900 owed from) to Bean Coffee Holdings Ltd. Both companies being under the direct control of the directors Mr J Whyte and Mr V Bhatt.
9 Other information
Bean Coffee Liverpool No. 1 Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
Exchange Station
Tithebarn Street
Liverpool
L2 2QP
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