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REGISTERED NUMBER: 13403014 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2024

FOR

FOUNDRY COFFEE COMPANY LTD

FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 350 -
Tangible assets 6 149,542 110,725
149,892 110,725

CURRENT ASSETS
Stocks 4,000 3,250
Debtors 7 42,170 18,556
Cash at bank 6,453 24,639
52,623 46,445
CREDITORS
Amounts falling due within one year 8 153,464 167,060
NET CURRENT LIABILITIES (100,841 ) (120,615 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,051

(9,890

)

PROVISIONS FOR LIABILITIES 10 10,667 -
NET ASSETS/(LIABILITIES) 38,384 (9,890 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 38,284 (9,990 )
SHAREHOLDERS' FUNDS 38,384 (9,890 )

FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

BALANCE SHEET - continued
31 MAY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2025 and were signed by:





Mr R J Carter - Director


FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Foundry Coffee Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13403014

Registered office: 53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Office equipment - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 350
At 31 May 2024 350
NET BOOK VALUE
At 31 May 2024 350

FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 80,186 26,243 26,773 225 133,427
Additions 47,901 12,333 - 2,601 62,835
At 31 May 2024 128,087 38,576 26,773 2,826 196,262
DEPRECIATION
At 1 June 2023 8,406 10,032 4,164 100 22,702
Charge for year 12,808 7,136 3,392 682 24,018
At 31 May 2024 21,214 17,168 7,556 782 46,720
NET BOOK VALUE
At 31 May 2024 106,873 21,408 19,217 2,044 149,542
At 31 May 2023 71,780 16,211 22,609 125 110,725

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 449 -
Amounts owed by group undertakings 31,121 -
Other debtors 600 -
Deferred tax asset - 3,715
Prepayments and accrued income 10,000 14,841
42,170 18,556

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,982 12,721
Amounts owed to group undertakings - 41,579
PAYE and social security - 2,884
VAT 14,189 4,125
Other creditors 24,577 9,473
Director's current account 81,924 90,243
Accruals and deferred income 22,792 6,035
153,464 167,060

FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 40,000 40,000
Between one and five years 160,000 160,000
In more than five years 122,548 162,548
322,548 362,548

10. PROVISIONS FOR LIABILITIES
2024
£   
Deferred tax
Accelerated capital allowances 10,667

Deferred
tax
£   
Balance at 1 June 2023 (3,715 )
Utilised during year 14,382
Balance at 31 May 2024 10,667

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

Included in debtors is a balance of £9,429 (2023: £41,579 creditor) due from the parent company, Foundry Coffee Group Limited.

Interest was charged at official rate of 2.25%. on the outstanding balance owed.

During the year, Foundry Coffee Group Ltd charged Foundry Coffee Company Ltd £103,443 (2023: £Nil) for the provision of their staff and other associated costs.

Included in debtors is a balance of £21,692 (2023: £Nil) due from a connected company, Foundry Coffee (Eastbourne) Limited.

Interest was charged at official rate of 2.25%. on the outstanding balance owed.

FOUNDRY COFFEE COMPANY LTD (REGISTERED NUMBER: 13403014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


13. ULTIMATE HOLDING PARTY

The company is a wholly owned subsidiary of Foundry Coffee Group Ltd, and shares the same Registered Office address.