| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Aimes Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Aimes Limited |
| Aimes Limited (Registered number: 04261241) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Aimes Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and Business Advisors |
| Statutory Auditor |
| Regency House |
| 33 Wood Street |
| Barnet |
| Hertfordshire |
| EN5 4BE |
| SOLICITORS: |
| 6 Market Square |
| Bishop's Stortford |
| Herts |
| CM23 3UZ |
| Aimes Limited (Registered number: 04261241) |
| Balance Sheet |
| 31 December 2024 |
| 31/12/24 | 31/12/23 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Prepayments and accrued income |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 2,204,652 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| Aimes Limited (Registered number: 04261241) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Aimes Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Critical judgements in applying the entity's accounting policies |
| Classification of a lease |
| Determining whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred to the company. |
| Critical accounting estimates and assumptions |
| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. |
| Useful economic lives of tangible assets |
| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re - assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, further investments, economic utilisation and the physical condition of the assets. Further details are shown in both the tangible fixed assets accounting policy and the tangible fixed assets note contained in these financial statements. |
| Dilapidation and decommissioning contingent liability |
| The company makes an estimate per store on how much its liability would be to restore each store to the conditions outlined in the lease. When assessing this the company considered various matters including, the current condition of each store and the amount of leasehold improvement that have been made that would be required to be removed. Further details can be found in the provisions for liabilities note contained in these financial statements. |
| Onerous contracts |
| Contracts in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it, are considered to be onerous. In such circumstances a provision is recognised in the financial statements, calculated as the net present value of all future cashflows. All future losses are allocated against the provision. Further details can be found in the provisions for liabilities note contained in these financial statements. |
| Aimes Limited (Registered number: 04261241) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue recognition - sale of goods |
| Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Coffee shop sales of good are recognised on sale to the customer, which is considered the point of delivery. Sales are by cash, debit card or credit card. |
| Intangible assets |
| Patents and licence fees are stated at cost less accumulated amortisation and impairment losses. |
| Patent and licence fees are amortised over their useful economic lives, being the original lease period of the store to which the fees relate. |
| Amortisation is charged to administrative expenses in the income statement. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life: |
| Improvements to property - 10% on cost |
| Plant and machinery - 20% on cost |
| Fixtures and fittings - 20% on cost |
| Computer equipment - 33% on cost |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| Financial assets |
| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at the transaction value. |
| They are then subsequently carried at amortised cost using the effective interest rate method. |
| At the end of each reporting period financial assets are assessed for impairment. If an impairment exists the impairment loss is recognised in the income statement. |
| Financial assets are derecognised when: |
| - the contractual right to cash flows from the asset are settled or expire, |
| - substantially all the risk and rewards of the ownership of the asset are transferred to another party or |
| - despite retaining some significant risks and rewards, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset without additional restrictions. |
| Financial liabilities |
| Basic financial liabilities, including trade and other creditors are initially recognised at the transaction value. |
| They are then subsequently carried at amortised cost using the effective interest rate method. |
| Financial liabilities are derecognised when the liability is discharged, cancelled or expires. |
| Aimes Limited (Registered number: 04261241) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| 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 |
| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the income statement t on a straight line bass over the period of the lease. |
| Incentives received to enter into an operating lease are credited to the income statement, to reduce the lease expense, 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Aimes Limited (Registered number: 04261241) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 5. | INTANGIBLE FIXED ASSETS |
| Patents |
| and |
| licences |
| £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| AMORTISATION |
| At 1 January 2024 |
| Amortisation for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/24 | 31/12/23 |
| as restated |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Aimes Limited (Registered number: 04261241) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/24 | 31/12/23 |
| as restated |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31/12/24 | 31/12/23 |
| as restated |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 10. | PROVISIONS FOR LIABILITIES |
| 31/12/24 | 31/12/23 |
| as restated |
| £ | £ |
| Deferred tax re capital allowances |
| Dilapidations | 27,213 | - |
| Deferred | Other |
| tax | provisions |
| £ | £ |
| Balance at 1 January 2024 |
| Provided during year | ( |
) |
| Balance at 31 December 2024 |
| Aimes Limited (Registered number: 04261241) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Dilapidations and decommissioning liabilities |
| The company operates a number of stores through short leases that contain an obligation in the agreement to remove leasehold improvements at the end of the lease term or when the premises are vacated. |
| It is the company's policy to provide for dilapidations only where a managed exit, either part way through or at the end of the lease term, is considered to be probable and the obligation can be estimated reliably. |
| Where the lease is likely to be retained for the foreseeable future, or where a lease has been recently signed for a new store, the obligation is not considered to be probable and/or cannot be estimated reliably and therefore a dilapidation provision is not provided for. |
| The company has identified 1 stores where a managed exit is considered to be probable. The total theoretical dilapidation costs of these stores, calculated by third party specialist property consultants, and after estimated landlord negotiation discounts, is believed to be in the region of £32,121. Assuming a risk-free discount rate of 3.9%, a dilapidation provision of £27,213 (2023: £nil) including interest has been provided for and capitalised under improvements to property in accordance with FRS102, and will be depreciated over the remaining terms of the leases commencing 1 January 2024. The provision will also be increased by 3.9% until the end of the lease term such that at the expected lease-exit date the provision will match the expected dilapidation cost to be incurred. |
| Onerous contracts |
| The company operates no stores through short leases that are considered to be onerous. |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 12. | CONTINGENT LIABILITIES |
| Cross guarantee |
| The company has provided a cross guarantee in favour of the bank to cover the liabilities owed by its parent undertaking. |
| The guarantee is unlimited. At the year-end no monies are owed to the bank by a subsidiary undertaking and therefore no economic benefit is expected to flow from the company. Any amount met on behalf of the subsidiary will be reimbursed by the subsidiary in the future where possible. |
| 13. | RELATED PARTY DISCLOSURES |
| 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. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Scoffs Group Limited. |
| The ultimate controlling party is |