Company Registration No. 12112871 (England and Wales)
Oat Coffee Limited
Unaudited accounts
for the year ended 31 December 2024
Oat Coffee Limited
Unaudited accounts
Contents
Oat Coffee Limited
Statement of financial position
as at 31 December 2024
Tangible assets
42,103
53,677
Cash at bank and in hand
34,198
35,854
Creditors: amounts falling due within one year
(263,770)
(264,297)
Net current liabilities
(189,842)
(197,977)
Total assets less current liabilities
(147,739)
(144,300)
Creditors: amounts falling due after more than one year
(5,000)
(15,001)
Net liabilities
(152,739)
(159,301)
Called up share capital
4
2
Profit and loss account
(152,743)
(159,303)
Shareholders' funds
(152,739)
(159,301)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by
Morten Jensen
Director
Company Registration No. 12112871
Oat Coffee Limited
Notes to the Accounts
for the year ended 31 December 2024
Oat Coffee Limited is a private company, limited by shares, registered in England and Wales, registration number 12112871. The registered office is 17 BECK ROAD, LONDON, E8 4RE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The company's financial statements have been prepared on a going concern basis. The directors' consider the going concern assumption to be valid as a result of their expectation of future profitable trading and the provision of the directors ongoing support and commitment to the company to make funds available to enable the company to meet its liabilities as they fall due. The period considered by the directors in reaching this conclusion is not less than 12 months from the date of signing the balance sheet.
No adjustments have been made to these accounts and specifically to the recoverable value of fixed assets should this assumption not be valid.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Oat Coffee Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Fixtures & fittings
At 31 December 2024
106,070
Charge for the year
13,648
At 31 December 2024
63,967
At 31 December 2024
42,103
At 31 December 2023
53,677
Amounts falling due within one year
Other debtors
37,092
28,738
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,888
10,000
Trade creditors
15,391
29,182
Taxes and social security
6,726
8,087
Other creditors
209,809
184,109
Loans from directors
-
1,998
7
Creditors: amounts falling due after more than one year
2024
2023
Oat Coffee Limited
Notes to the Accounts
for the year ended 31 December 2024
8
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
48,000
48,000
Later than one year and not later than five years
192,000
192,000
Later than five years
48,000
96,000
During the period, Morten Jensen, a director of the company received reimbursement of expenses in the amount of £2,000 (2022 - £3,646). The balance owed by Morten Jensen at the period end was £1 (2023 - owed to Morten Jensen £1,999). All transactions were carried out on an arms length commercial basis. The balance is due on demand and bears no interest.
10
Transactions with related parties
During the period, Oat Coffee Limited entered into a number of transactions with In East London Limited, a company controlled by Morten Jensen and Darren Collins. During the period, Oat Coffee Limited received monies amounting to £nil (2023 - £66,500) and paid monies amounting to £7,022 (2023 - £5,000). The balance due to In East London Limited as at 31 December 2024 was £104,978 (2023 - £112,000). All transactions were carried out on an arms length commercial basis. The balance outstanding at 31 December 2024 is repayable on demand and is provided interest free.
During the period, Oat Coffee Limited entered into a number of transactions with Protein Studios Shoreditch Limited, a company controlled by William Rowe. During the period, Oat Coffee Limited was credited gross rent amounting to £34,931 (2023 - £40,800) and received monies amounting to £28,516 (2023 - £27,600). The balance due to Oat Coffee Limited as at 31 December 2024 was £19,223 (2023 - £12,808). All transactions were carried out on an arms length commercial basis. The balance outstanding at 31 December 2024 is repayable on demand and is provided interest free.
During the period, Oat Coffee Limited entered into a number of transactions with The Group (London) Limited, a company controlled by Darren Collins. During the period, Oat Coffee Limited was charged gross property costs by The Group (London) Limited amounting to £101,993 (2023 - £84,174) and repaid invoiced costs amounting to £69,728 (2023 - £82,529). The balance due to The Group (London) Limited as at 31 December 2024 was £49,103 (2023 - £16,839). All transactions were carried out on an arms length commercial basis. The balance outstanding at 31 December 2024 is repayable on demand and is provided interest free.
11
Average number of employees
During the year the average number of employees was 9 (2023: 10).