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Registration number: NI637912

House Coffee Enterprise Ltd

(A company limited by guarantee)

Filleted Financial Statements

for the Year Ended 31 May 2024

 

House Coffee Enterprise Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

House Coffee Enterprise Ltd

(Registration number: NI637912)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

41,162

42,270

Current assets

 

Stocks

5

2,186

2,209

Debtors

6

1,182

1,625

Cash at bank and in hand

 

18,721

21,777

 

22,089

25,611

Creditors: Amounts falling due within one year

7

(81,056)

(32,853)

Net current liabilities

 

(58,967)

(7,242)

Total assets less current liabilities

 

(17,805)

35,028

Creditors: Amounts falling due after more than one year

7

-

(41,022)

Net liabilities

 

(17,805)

(5,994)

Reserves

 

Retained earnings

(17,805)

(5,994)

Deficit

 

(17,805)

(5,994)

These financial statements have been prepared and 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 Profit and Loss Account.

Approved and authorised by the director on 5 March 2025
 

.........................................
N Porter
Director

 

House Coffee Enterprise Ltd

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

1

General information

The company is a company limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital.

The address of its registered office is:
18 Crawfordsburn Road
Newtownards
BT23 4EA

The presentational currency is £ sterling and the level of rounding is to the nearest £.

These financial statements were authorised for issue by the director on 5 March 2025.

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

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.

Going concern

The financial statements have been prepared on a going concern basis.

The company’s parent, House Church Limited, will continue to support the company as required for the foreseeable future. Based on these circumstances, the directors believe that it is appropriate to continue to prepare the financial statements on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 05 March 2025 was Brian Stewart, who signed for and on behalf of RBCA Limited.

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.

 

House Coffee Enterprise Ltd

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

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants
are not recognised until there is reasonable assurance that the company will comply with the
conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic
basis over the periods in which the company recognises the related costs for which the grant is
intended to compensate. Grants that are receivable as compensation for expenses or losses
already incurred or for the purpose of giving immediate financial support to the entity with no
future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected
useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as
deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future
performance-related conditions on the recipient, it is recognised in income when the grant
proceeds are received or receivable. Where the grant does impose specified future
performance-related conditions on the recipient, it is recognised in income only when the
performance-related conditions have been met. Where grants received are prior to satisfying the
revenue recognition criteria, they are recognised as a liability.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation
decrease of the same asset previously recognised in profit or loss. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other comprehensive income to
the extent of any previously recognised revaluation increase accumulated in equity in respect of
that asset. Where a revaluation decrease exceeds the accumulated revaluation gains
accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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

Fixtures and fittings

10% straight line

Equipment

10% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

 

House Coffee Enterprise Ltd

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

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the
company are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Financial instruments




A financial asset or a financial liability is recognised only when the entity becomes a party to the
contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the
arrangement constitutes a financing transaction, where it is recognised at the present value of
the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

 

3

Staff numbers

The average number of persons employed by the company during the year amounted to 13 (2023 - 13).

 

House Coffee Enterprise Ltd

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

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

53,668

38,780

92,448

Additions

-

9,106

9,106

At 31 May 2024

53,668

47,886

101,554

Depreciation

At 1 June 2023

26,454

23,724

50,178

Charge for the year

5,362

4,852

10,214

At 31 May 2024

31,816

28,576

60,392

Carrying amount

At 31 May 2024

21,852

19,310

41,162

At 31 May 2023

27,214

15,056

42,270

5

Stocks

2024
£

2023
£

Other inventories

2,186

2,209

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,182

1,625

 

1,182

1,625

7

Creditors

Creditors: amounts falling due within one year

 

House Coffee Enterprise Ltd

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

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

19,735

17,519

Trade creditors

 

4,595

4,675

Amounts owed to group undertakings and undertakings in which the company has a participating interest

40,344

-

Taxation and social security

 

14,090

9,159

Accruals and deferred income

 

1,575

1,500

Other creditors

 

717

-

 

81,056

32,853

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

41,022