WE ARE ROAST LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
Company registration number 09005886 (England and Wales)
WE ARE ROAST LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WE ARE ROAST LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
32,472
48,597
Investments
5
21,167
24,422
53,639
73,019
Current assets
Debtors
6
2,996,820
3,012,220
Cash at bank and in hand
967,488
277,204
3,964,308
3,289,424
Creditors: amounts falling due within one year
7
(1,867,720)
(1,521,733)
Net current assets
2,096,588
1,767,691
Total assets less current liabilities
2,150,227
1,840,710
Provisions for liabilities
(8,118)
(8,416)
Net assets
2,142,109
1,832,294
Capital and reserves
Called up share capital
8
1,000
1,000
Other reserves
16,161
8,052
Profit and loss reserves
2,124,948
1,823,242
Total equity
2,142,109
1,832,294
WE ARE ROAST LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 July 2025 and are signed on its behalf by:
Oliver Sam Bishop
Director
Company registration number 09005886 (England and Wales)
WE ARE ROAST LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Share Option Reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
1,000
18,456
1,705,699
1,725,155
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
262,543
262,543
Dividends
-
-
(145,000)
(145,000)
Other movements
-
(10,404)
-
(10,404)
Balance at 31 December 2023
1,000
8,052
1,823,242
1,832,294
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
301,706
301,706
Transfers
-
8,109
-
0
8,109
Balance at 31 December 2024
1,000
16,161
2,124,948
2,142,109
WE ARE ROAST LTD
STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

We Are Roast Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, 53 Frith Street, London, W1D 4SN.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts and settlement discounts.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
Between 1 and 5 years on a straight line basis
Computer equipment
Between 1 and 5 years on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

WE ARE ROAST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 5 -
2.4
Fixed asset investments

Fixed asset investments are stated at cost or valuation less provision for diminution in value.

2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

2.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.7
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.

Basic financial assets

Basic financial assets, which include debtors, loans to fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.

2.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

WE ARE ROAST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 6 -
Current tax

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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. 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.

2.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.10
Share-based payments

Equity-settled share options are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the EBITDA multiple for valuing businesses. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

2.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

WE ARE ROAST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
60
65
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 January 2024
37,191
179,210
216,401
Additions
467
6,147
6,614
Disposals
-
0
(3,069)
(3,069)
At 31 December 2024
37,658
182,288
219,946
Depreciation and impairment
At 1 January 2024
33,530
134,274
167,804
Depreciation charged in the year
2,821
19,918
22,739
Eliminated in respect of disposals
-
0
(3,069)
(3,069)
At 31 December 2024
36,351
151,123
187,474
Carrying amount
At 31 December 2024
1,307
31,165
32,472
At 31 December 2023
3,661
44,936
48,597
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
21,167
24,422
WE ARE ROAST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2024 & 31 December 2024
24,422
Impairment
At 1 January 2024
-
Disposals
3,255
At 31 December 2024
3,255
Carrying amount
At 31 December 2024
21,167
At 31 December 2023
24,422
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
708,730
730,056
Amounts owed by group undertakings
1,745,409
1,982,395
Other debtors
542,681
299,769
2,996,820
3,012,220
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
120
121
Trade creditors
955,810
235,332
Amounts owed to group undertakings
87,886
411,719
Corporation tax
98,739
29,206
Other taxation and social security
260,250
131,840
Other creditors
464,915
713,515
1,867,720
1,521,733
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
'A' Ordinary shares of 1p each
100,000
100,000
1,000
1,000
WE ARE ROAST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
9
Share options transactions
Number of share options
Weighted average exercise price
2024
2023
2024
2023
Number
Number
£
£
Outstanding at 1 January 2024
7,969
7,969
22.53
22.53
Granted
625
1,250
26.53
26.53
Forfeited
-
0
(1,250)
0
-
0
26.53
Outstanding at 31 December 2024
8,594
7,969
22.82
22.53
Exercisable at 31 December 2024
1,250
1,250
1.00
1.00

The options outstanding at 31 December 2024 had an exercise price ranging from £1 to £27, and a remaining contractual life ranging from 4 to 5 years.

 

Equity-settled share options are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the EBITDA multiple for valuing businesses. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

Inputs were as follows:
2024
2023
Weighted average share price
10.50
10.78
Weighted average exercise price
22.82
22.53
Liabilities and expenses

During the year, the company recognised total share-based payment expenses of £8,109 (2023 - £(10,404)) which related to equity settled share based payment transactions.

10
Related party transactions

The company has taken advantage of the exemption in FRS 102 not to disclose transactions with other group companies which are wholly owned within the group.

 

During the year the company received services totalling £3,806 (2023: £3,103) from Summerill & Bishop Limited, a company connected to a director.

11
Parent company

The company is a wholly owned subsidiary of TIPI Group Limited and its registered office is 1st Floor, 53 Frith Street, London, England, W1D 4SN.

12
Secured debts

The company has an overdraft facility which is secured by way of a fixed and floating charge over the company's assets. At the balance sheet date £120 were owed to the bank in respect of this undertaking (2023: £121).

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