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REGISTERED NUMBER: 11403537 (England and Wales)














Financial Statements for the Year Ended 31 August 2024

for

Optimum Cortado Limited

Optimum Cortado Limited (Registered number: 11403537)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Optimum Cortado Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: D G Connor





REGISTERED OFFICE: 21 Hatton Garden
Liverpool
Merseyside
L3 2FE





REGISTERED NUMBER: 11403537 (England and Wales)





AUDITORS: Douglas Fairless Partnership
Chartered Certified Accountants
and Statutory Auditors
Seymour Chambers
92 London Road
Liverpool
Merseyside
L3 5NW

Optimum Cortado Limited (Registered number: 11403537)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,160 4,040
Tangible assets 5 246,430 366,714
Investments 6 18,596 -
267,186 370,754

CURRENT ASSETS
Stocks 15,116 11,913
Debtors 7 131,161 49,306
Cash at bank and in hand 356,811 116,270
503,088 177,489
CREDITORS
Amounts falling due within one year 8 386,041 316,083
NET CURRENT ASSETS/(LIABILITIES) 117,047 (138,594 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

384,233

232,160

PROVISIONS FOR LIABILITIES 46,822 61,574
NET ASSETS 337,411 170,586

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 10 (575 ) -
Retained earnings 337,985 170,585
337,411 170,586

The 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.

The financial statements were approved by the director and authorised for issue on 26 August 2025 and were signed by:





D G Connor - Director


Optimum Cortado Limited (Registered number: 11403537)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Optimum Cortado Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The turnover in the profit and loss account represents revenue recognised on goods sold on a cash or credit basis, exclusive of value added tax, from operating as a Costa Coffee franchise.Revenue is recognised daily based on transactions recorded in each store till system for that day.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Franchise fees are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 15% on cost
Fixtures and fittings - 20% on cost

Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and net realisable value after providing for any slow moving or obsolete lines. Stock is valued at a first in first out basis.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from third parties and loans to and from related parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Optimum Cortado Limited (Registered number: 11403537)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are initially measured at cost and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the revaluation reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 26 ).

4. INTANGIBLE FIXED ASSETS
Franchise
fees
£   
COST
At 1 September 2023
and 31 August 2024 9,400
AMORTISATION
At 1 September 2023 5,360
Amortisation for year 1,880
At 31 August 2024 7,240
NET BOOK VALUE
At 31 August 2024 2,160
At 31 August 2023 4,040

Optimum Cortado Limited (Registered number: 11403537)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Motor
property property fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 125,437 139,000 217,722 - 482,159
Additions - - 18,960 28,000 46,960
Disposals (125,437 ) - - - (125,437 )
At 31 August 2024 - 139,000 236,682 28,000 403,682
DEPRECIATION
At 1 September 2023 - 55,969 52,827 - 108,796
Charge for year - 13,878 27,578 7,000 48,456
At 31 August 2024 - 69,847 80,405 7,000 157,252
NET BOOK VALUE
At 31 August 2024 - 69,153 156,277 21,000 246,430
At 31 August 2023 125,437 83,031 164,895 - 373,363

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
Additions 19,171
Revaluations (575 )
At 31 August 2024 18,596
NET BOOK VALUE
At 31 August 2024 18,596

Cost or valuation at 31 August 2024 is represented by:

Other
investments
£   
Valuation in 2024 (575 )
Cost 19,171
18,596

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 2,563 -
Amounts owed by group undertakings 110,080 23,110
Other debtors - 3,127
Prepayments 18,518 23,069
131,161 49,306

Optimum Cortado Limited (Registered number: 11403537)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 94,692 98,628
Corporation taxation 47,231 1,978
Social security and other taxes - 4,091
VAT 28,313 28,568
Other creditors 120,801 122,469
Accrued expenses 95,004 60,349
386,041 316,083

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 53,500 53,500
Between one and five years 214,000 214,000
In more than five years 267,500 321,000
535,000 588,500

10. RESERVES
Revaluation
reserve
£   
Revalue (575 )

At 31 August 2024 (575 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Gregory Newton FCCA (Senior Statutory Auditor)
for and on behalf of Douglas Fairless Partnership

12. ULTIMATE PARENT COMPANY

The ultimate parent company is Optimum Group Properties Limited, a company incorporated in England & Wales.

The registered office of the parent is as follows:

21 Hatton Garden
Liverpool
L3 2FE