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Registration number: 10136639

The Coffee 2U Co Limited

Annual Report and Unaudited Financial Statements

Pages for filing with the Registrar

for the Year Ended 30 April 2024

 

The Coffee 2U Co Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 14

 

The Coffee 2U Co Limited

Company Information

Director

S J Atkins

Company secretary

I V Mitchell

Registered office

22 Liberty Close
Woolsbridge Industrial Estate
Three Legged Cross
Wimborne
Dorset
BH21 6SY

Accountants

Oxlade & Bond Limited
Chartered Certified AccountantsUnit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The Coffee 2U Co Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Coffee 2U Co Limited for the year ended 30 April 2024 as set out on pages 3 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of The Coffee 2U Co Limited, as a body, in accordance with the terms of our engagement letter dated 25 April 2024. Our work has been undertaken solely to prepare for your approval the accounts of The Coffee 2U Co Limited and state those matters that we have agreed to state to the Board of Directors of The Coffee 2U Co Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Coffee 2U Co Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Coffee 2U Co Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Coffee 2U Co Limited. You consider that The Coffee 2U Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Coffee 2U Co Limited. For this reason, we have not verified the 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 accounts.

......................................

Oxlade & Bond Limited
Chartered Certified Accountants
Unit 14, Riduna Park
Station Road
Melton
Woodbridge
Suffolk
IP12 1QT

8 April 2025

 

The Coffee 2U Co Limited

(Registration number: 10136639)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

165,047

171,486

Current assets

 

Stocks

5

164,490

93,804

Debtors

6

88,232

77,425

Cash at bank and in hand

 

4,387

17,601

 

257,109

188,830

Creditors: Amounts falling due within one year

7

(37,518)

(353)

Net current assets

 

219,591

188,477

Total assets less current liabilities

 

384,638

359,963

Creditors: Amounts falling due after more than one year

7

(1,238,985)

(1,164,436)

Net liabilities

 

(854,347)

(804,473)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(854,447)

(804,573)

Shareholders' deficit

 

(854,347)

(804,473)

 

The Coffee 2U Co Limited

(Registration number: 10136639)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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 his 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 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 8 April 2025
 

.........................................
S J Atkins
Director

 

The Coffee 2U Co Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 May 2023

100

(804,573)

(804,473)

Loss for the year

-

(49,874)

(49,874)

Total comprehensive income

-

(49,874)

(49,874)

At 30 April 2024

100

(854,447)

(854,347)

Called up share capital
£

Profit and loss account
£

Total equity
£

At 1 May 2022

100

(692,313)

(692,213)

Loss for the year

-

(112,260)

(112,260)

Total comprehensive income

-

(112,260)

(112,260)

At 30 April 2023

100

(804,573)

(804,473)

 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
22 Liberty Close
Woolsbridge Industrial Estate
Three Legged Cross
Wimborne
Dorset
BH21 6SY
England

These financial statements were authorised for issue by the director on 8 April 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 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 company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

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

At the 30th April 2024 the company has net liabilities of £854,347. The company's activities in the early periods of trade have required substantial investment at a time when the trade has not been fully established. Profit and loss and balance sheet projections prepared by the director suggest future profitability and a positive net asset position. The loan creditors in the form of a loan from the director have informed the company that they will not seek repayment of their loans to the detriment of other creditors. The value of these creditors at the 30th April 2024 is £1,164,220. Continuation of the company's activities is dependent upon this support and the director has prepared these financial statements on the going concern basis on the assumption that this support continues.

 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Turnover represents sales of goods and the provision of services to customers at invoiced amount, excluding value added tax and trade discounts. It is recognised based on the invoice date which is the date when the company is contractually entitled to the income.

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 corporation 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.

The company has no current corporation tax charge due to the tax losses arising in the current year and previous periods. These tax losses will carry forward to offset against future years taxable profits.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

write off costs over 10 years

Motor vehicles

25% reducing balance basis

Coffee machines and accessories

write off costs over 10 years

Office equipment

15% reducing balance basis

Plant and equipment

15% reducing balance basis

 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Stocks relate to the value of parts and consumables held at the period end.

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 creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

The pension contributions relate to employer contributions to the staff's workplace pension plans.

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 banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 8).

 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Computer & office equipment
£

Motor vehicles
 £

Coffee machines and accessories
£

Plant & equipment
£

Total
£

Cost

At 1 May 2023

17,736

45,170

197,217

13,604

273,727

Additions

980

6,100

8,500

13,888

29,468

Disposals

-

-

(1,650)

(10,500)

(12,150)

At 30 April 2024

18,716

51,270

204,067

16,992

291,045

Depreciation

At 1 May 2023

6,892

19,615

69,078

6,656

102,241

Charge for the year

1,793

6,389

19,949

1,318

29,449

Eliminated on disposal

-

-

(399)

(5,293)

(5,692)

At 30 April 2024

8,685

26,004

88,628

2,681

125,998

Carrying amount

At 30 April 2024

10,031

25,266

115,439

14,311

165,047

At 30 April 2023

10,844

25,555

128,139

6,948

171,486

 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Stocks

2024
£

2023
£

Other inventories

164,490

93,804

6

Debtors

2024
£

2023
£

Trade debtors

69,821

64,654

Prepayments

10,393

4,753

Other debtors

8,018

8,018

88,232

77,425

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

11,812

10,000

Trade creditors

 

17,300

(24,367)

Taxation and social security

 

2,394

5,125

Accruals and deferred income

 

4,375

8,308

Other creditors

 

1,637

1,287

 

37,518

353

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

1,238,985

1,164,436

8

Reserves

The profits and loss reserves of the company are fully distributable.

 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,765

25,216

Other borrowings

1,224,220

1,139,220

1,238,985

1,164,436

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,812

10,000

Other borrowings

The carrying amount of covid related business bounce back loan at year end is £26,577 (2023 - £35,216).

The bank borrowings relate to a government backed covid related Business Bounce Back loan.

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £144,610 (2023 - £26,250). The commitments not included in the balance sheet relate to the operating lease commitments in respect of the total rent payable by the company to the end of the current lease on the premises from which it operates.

 

The Coffee 2U Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

11

Related party transactions

Other transactions with the director

Included in creditors due to be paid after more than one year is a loan of £1,164,220 (2023 - £1,139,220) advanced to the company by the director.

During the course of the year the director advanced further funds of £25,000.

The loan attracts interest and expenditure includes the sum of £20,400 (2023 - £20,400) in respect of the interest paid in the year on this loan.

Also included in creditors due to be paid after more than one year is a loan of £60,000 (2023 - £nil) advanced to the company by the parents of the director.

During the course of the year the company was advanced funds of £60,000 from this source.

The loan attracts interest and expenditure includes the sum of £nil (2023 - £nil) in respect of the interest paid in the year on this loan.