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Registered Number: SC604324
Scotland

 

 

 

THE COFFEE ROASTING PROJECT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Directors Mr G A Braid
Mr M Braid
Mr G Cunningham
Registered Number SC604324
Registered Office 5 Oswald Road
Kirkcaldy
Fife
KY1 3JE
Accountants M&S Accountancy & Taxation Limited
Unit 26, Dunfermline Business Centre
Izatt Avenue
Dunfermline
Fife
KY11 3BZ
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3   9 
Tangible fixed assets 4 10,258    17,539 
10,258    17,548 
Current assets      
Stocks 5 12,599    19,701 
Debtors 6 26,543    23,430 
Cash at bank and in hand 39,350    54,967 
78,492    98,098 
Creditors: amount falling due within one year 7 (156,758)   (168,302)
Net current assets (78,266)   (70,204)
 
Total assets less current liabilities (68,008)   (52,656)
Provisions for liabilities 8 (771)   (1,824)
Net assets (68,779)   (54,480)
 

Capital and reserves
     
Called up share capital 9 125    1 
Profit and loss account (68,904)   (54,481)
Shareholders' funds (68,779)   (54,480)
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 23 April 2025 and were signed on its behalf by:


-------------------------------
Mr M Braid
Director
2
General Information
The Coffee Roasting Project Ltd is a private company, limited by shares, registered in Scotland, registration number SC604324, registration address 5 Oswald Road, Kirkcaldy, Fife, KY1 3JE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A  - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
These financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have agreed to provide financial assistance to the company to ensure that all liabilities are met as they fall due and they will not seek repayment of amounts due to them until there are sufficient cash reserves to do so. The directors have considered a period of twelve months from the date of approval of the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of VAT and trade discounts. Turnover is recognised on the accruals basis.
Operating lease rentals
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:


 2024
£
 2023
£
14,000 26,000 
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred taxation
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. 
Website
Development costs of the website are capitalised once a detailed program design has been established and are amortised on a straight line basis over 3 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Straight Line
Fixtures and Fittings 15% Straight Line
Computer Equipment 33% Straight Line
Furniture 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
2.

Average number of employees

Average number of employees during the year was 17 (2023 : 18).
3.

Intangible fixed assets

Cost Website   Total
  £   £
At 01 July 2023 3,060    3,060 
Additions  
Disposals  
At 30 June 2024 3,060    3,060 
Amortisation
At 01 July 2023 3,051    3,051 
Charge for year 9    9 
On disposals  
At 30 June 2024 3,060    3,060 
Net book values
At 30 June 2024  
At 30 June 2023 9    9 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Furniture   Total
  £   £   £   £   £
At 01 July 2023 39,887    3,743    2,040    13,870    59,540 
Additions 1,190          1,190 
Disposals (166)       (8,343)   (8,509)
At 30 June 2024 40,911    3,743    2,040    5,527    52,221 
Depreciation
At 01 July 2023 27,641    1,985    1,177    11,196    41,999 
Charge for year 6,137    562    468    1,074    8,241 
On disposals (94)       (8,183)   (8,277)
At 30 June 2024 33,684    2,547    1,645    4,087    41,963 
Net book values
Closing balance as at 30 June 2024 7,227    1,196    395    1,440    10,258 
Opening balance as at 01 July 2023 12,246    1,757    862    2,674    17,539 


5.

Stocks

2024
£
  2023
£
Stocks 12,599    19,701 
12,599    19,701 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 20,627    22,490 
Called up Share Capital Not Paid 25   
Prepayments & Accrued Income 3,948    940 
PAYE & Social Security 1,943   
26,543    23,430 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 15,562    28,888 
Amounts Due to Related Parties 122,429    118,599 
PAYE & Social Security   2,263 
VAT 10,022    12,963 
Accrued Expenses 6,996    4,056 
Other Creditors 1,749    1,533 
156,758    168,302 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 771    1,824 
771    1,824 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100   
100   
Allotted, called up and partly paid
2024
£
  2023
£
25 Class B shares of £1.00 each 25   
25   

10.

Related Party

Particulars   2024
£
  2023
£
Other Related Parties (122,528) (118,599)

No interest has been charged on the loan. There are no repayment details.
11.

Ultimate Controlling Party

The company's ultimate controlling party is Myrtle Coffee Services Limited by virtue of it's ownership of 80% of the issued share capital in the company.


3