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Registration number: 09746877

Academy Coffee Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2024

 

Academy Coffee Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Academy Coffee Limited

Company Information

Directors

Ms J E Morgan

Mr SM Baston

Mr J Adams

Mr M S Reed

Registered office

41 Romilly Park Road
Barry
Vale of Glamorgan
CF62 6RR

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Academy Coffee Limited

(Registration number: 09746877)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

355,024

334,049

Current assets

 

Stocks

56,474

47,499

Debtors

141,986

113,378

Cash at bank and in hand

 

293,796

413,399

 

492,256

574,276

Prepayments and accrued income

 

111,236

48,743

Creditors: Amounts falling due within one year

5.1

(412,610)

(338,408)

Net current assets

 

190,882

284,611

Total assets less current liabilities

 

545,906

618,660

Creditors: Amounts falling due after more than one year

5.2

(136,205)

(188,125)

Provisions for liabilities

(27,208)

(28,582)

Accruals and deferred income

 

(75,039)

(49,343)

Net assets

 

307,454

352,610

Capital and reserves

 

Called up share capital

6

102

102

Retained earnings

307,352

352,508

Shareholders' funds

 

307,454

352,610

 

Academy Coffee Limited

(Registration number: 09746877)
Abridged Balance Sheet as at 31 December 2024

For the financial 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.

Directors' 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 directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 July 2025 and signed on its behalf by:
 

.........................................
Ms J E Morgan
Director

   
     
 

Academy Coffee Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
41 Romilly Park Road
Barry
Vale of Glamorgan
CF62 6RR
Wales

These financial statements were authorised for issue by the Board on 4 July 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 abridged 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 abridged 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.

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 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.

 

Academy Coffee Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

10% straight line

Plant and machinery

25% straight line

Furniture, fittings and equipment

25% straight line

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.

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.

 

Academy Coffee Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 99 (2023 - 69).

 

Academy Coffee Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Leasehold Improvements
£

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

348,139

109,961

126,462

584,562

Additions

63,414

21,894

29,161

114,469

Disposals

-

(22,412)

-

(22,412)

At 31 December 2024

411,553

109,443

155,623

676,619

Depreciation

At 1 January 2024

128,418

50,808

71,287

250,513

Charge for the year

36,942

27,003

29,549

93,494

Eliminated on disposal

-

(22,412)

-

(22,412)

At 31 December 2024

165,360

55,399

100,836

321,595

Carrying amount

At 31 December 2024

246,193

54,044

54,787

355,024

At 31 December 2023

219,721

59,153

55,175

334,049

Included within the net book value of land and buildings above is £246,193 (2023 - £219,721) in respect of long leasehold land and buildings.
 

5

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts which are secured of £37,255 (2023 - £37,255).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts which are secured of £136,205 (2023 - £188,125).

 

Academy Coffee Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

2

2

2

2

Ordinary B shares of £1 each

100

100

100

100

102

102

102

102

7

Related party transactions

Summary of transactions with parent


Academy Coffee Holdings Limited

 
During the year the company made unsecured, interest free, repayable on demand loans to its parent company of £13,268 (2023 - £Nil). At the balance sheet date the amount due from the parent was £13,268 (2023 - £nil).