MIKEL COFFEE COMPANY LIMITED Company accounts

COMPANY REGISTRATION NUMBER: 09743020

MIKEL COFFEE COMPANY LIMITED

Unaudited Financial Statements

31 December 2024

MIKEL COFFEE COMPANY LIMITED

Financial Statements

Year ended 31 December 2024

Contents	Page

Director's report	1

Income statement	2

Statement of financial position	3

Statement of changes in equity	4

Notes to the financial statements	5

MIKEL COFFEE COMPANY LIMITED

Director's Report

Year ended 31 December 2024

The director presents his report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Principal activities

The principal activity of the company during the year was licensing of trademarks and operating coffee shop.

Directors

The directors who served the company during the year were as follows:

Mr Eleftherios Kyriakakis
Fiduci-Corp Directors Limited	(Resigned 22 April 2024)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 11 August 2025 and signed on behalf of the board by:

Mr Eleftherios Kyriakakis
Director

MIKEL COFFEE COMPANY LIMITED

Income Statement

Year ended 31 December 2024

	2024	2023
Note	€	€
Turnover	1,075,601	759,806

Cost of sales	( 217,222)	( 132,360)
	------------	---------
Gross profit	858,379	627,446

Administrative expenses	( 767,820)	( 542,841)
	---------	---------
Operating profit	90,559	84,605

	---------	---------
Profit before taxation	90,559	84,605

Tax on profit	( 19,824)	( 18,172)
	--------	--------
Profit for the financial year	70,735	66,433
	--------	--------

All the activities of the company are from continuing operations.

MIKEL COFFEE COMPANY LIMITED

Statement of Financial Position

31 December 2024

	2024		2023
Note	€	€	€

Current assets

Debtors	5	2,194,398	2,011,581
Cash at bank and in hand		2,792	5,409
		------------	------------
		2,197,190	2,016,990

Creditors: amounts falling due within one year	6	510,129		429,622
		------------		------------
Net current assets			1,687,061	1,587,368
			------------	------------
Total assets less current liabilities			1,687,061	1,587,368
			------------	------------
Net assets			1,687,061	1,587,368
			------------	------------

Capital and reserves

Called up share capital	7	37,521	37,521
Profit and loss account	8	1,649,540	1,549,847
		------------	------------
Shareholders funds		1,687,061	1,587,368
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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.

Director's responsibilities:

- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 August 2025 , and are signed on behalf of the board by:

Mr Eleftherios Kyriakakis
Director

Company registration number: 09743020

MIKEL COFFEE COMPANY LIMITED

Statement of Changes in Equity

Year ended 31 December 2024

		Called up share capital	Profit and loss account	Total
		€	€	€
At 1 January 2023		37,521	1,481,444	1,518,965

Profit for the year			66,433	66,433
Other comprehensive income for the year:
	Foreign currency retranslation	–	1,970	1,970
		--------	------------	------------
Total comprehensive income for the year		–	68,403	68,403

At 31 December 2023		37,521	1,549,847	1,587,368

Profit for the year			70,735	70,735
Other comprehensive income for the year:
	Foreign currency retranslation	–	28,958	28,958
		--------	------------	------------
Total comprehensive income for the year		–	99,693	99,693

		--------	------------	------------
At 31 December 2024		37,521	1,649,540	1,687,061
		--------	------------	------------

MIKEL COFFEE COMPANY LIMITED

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Georges House, 6th floor, 15 Hanover Square, London, W1S1HS, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements are prepared in euro, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2023: 10 ).

5. Debtors

	2024	2023
	€	€
Trade debtors	1,325,823	1,381,846
Prepayments and accrued income	84,796	82,387
Mikel SA	353,830	271,830
Shareholder account	413,838	317,060
Other debtors	16,111	( 41,542)
	------------	------------
	2,194,398	2,011,581
	------------	------------

6. Creditors: amounts falling due within one year

	2024	2023
	€	€
Bank loans and overdrafts	–	290
Trade creditors	391,403	289,809
Accruals and deferred income	11,207	24,662
Corporation tax	19,824	34,067
Other related creditors	71,019	76,114
Other creditors	16,676	4,680
	---------	---------
	510,129	429,622
	---------	---------

7. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	€	No.	€
Ordinary shares of € 1.2507 each	30,000	37,521	30,000	37,521
	--------	--------	--------	--------

8. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

9. Related party transactions

The company was under the control of Mikel Coffee Company Global Limited throughout the current year. Mikel Coffee Company Global Limited is the sole shareholder.