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Registration number: 12015224

Fieldhouse Coffee Ltd

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 May 2024

 

Fieldhouse Coffee Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Fieldhouse Coffee Ltd

(Registration number: 12015224)
Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,334

16,871

Current assets

 

Stocks

5

750

-

Debtors

6

7,085

4,551

Cash at bank and in hand

 

20,794

23,019

 

28,629

27,570

Creditors: Amounts falling due within one year

7

(81,360)

(25,489)

Net current (liabilities)/assets

 

(52,731)

2,081

Total assets less current liabilities

 

(13,397)

18,952

Provisions for liabilities

(7,473)

(3,205)

Net (liabilities)/assets

 

(20,870)

15,747

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(20,871)

15,746

Shareholders' (deficit)/funds

 

(20,870)

15,747

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 27 February 2025
 

 

Fieldhouse Coffee Ltd

(Registration number: 12015224)
Statement of Financial Position as at 31 May 2024

.........................................
D Cooper
Director

 

Fieldhouse Coffee Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Rosebrae, Woodlands Lane, Windlesham, Surrey, GU20 6AQ.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Fieldhouse Coffee Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

Plant and machinery

Straight line over 3-4 years

Computer equipment

Straight line over 3 years

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 debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

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.

 

Fieldhouse Coffee Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

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 debtors and creditors, loans from and to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 28 (2023 - 22).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

33,149

1,552

34,701

Additions

40,021

1,659

41,680

At 31 May 2024

73,170

3,211

76,381

Depreciation

At 1 June 2023

16,650

1,180

17,830

Charge for the year

18,293

924

19,217

At 31 May 2024

34,943

2,104

37,047

Carrying amount

At 31 May 2024

38,227

1,107

39,334

At 31 May 2023

16,499

372

16,871

5

Stocks

2024
£

2023
£

Other inventories

750

-

 

Fieldhouse Coffee Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Debtors

2024
£

2023
£

Trade debtors

1,222

1,360

Other debtors

5,536

3,007

Prepayments

327

184

7,085

4,551

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

12,137

3,293

Taxation and social security

18,340

17,215

Other creditors

50,883

4,981

81,360

25,489

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £13,022 (2023 - £25,156).