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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
COMPANY INFORMATION
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MASTEROAST COFFEE CO. LIMITED
CONTENTS
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MASTEROAST COFFEE CO. LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their strategic report for the year ended 31 December 2024.
The principal activities of Masteroast Coffee Co. Limited ("the Company") during the year were those of coffee roasters, tea blenders and wholesalers.
A business review is provided in the Chairman's statement within the Directors' report.
The directors generate an annual budget which is monitored on a monthly basis. However the key risks to the Company remain that of the fluctuations in coffee bean prices and the US dollar exchange rate. Both of these can have a major impact on the margins made as well as giving rise to exchange rate variances.
The Company constantly monitors the coffee price and exchange rates, and changes prices when it is considered commercial to do so. The Company has various financial instruments including but not limited to the bank overdraft, the main purpose of which is to raise finance for the Company's operations. In addition, the Company has various other financial assets and liabilities such as trade debtors and trade creditors arising directly from its operations. The Company's specific risks in connection with financial instruments are set out below: i) Liquidity risk and cashflow risk The Company manages its cash and borrowing requirements to optimise interest income and minimise expense, whilst ensuring that the Company has sufficient liquid resources to meet the operating needs of its business. ii) Interest rate risk The Company is exposed to cash flow interest rate risk on floating rate deposits and bank overdrafts. iii) Foreign currency risk The Company is exposed to foreign currency risk and manages it by continual monitoring of the US dollar exchange rate. iv) Credit risk Investments of cash surpluses are made through banks and companies which must fulfil credit rating criteria approved by a director. Receivable balances are monitored on an ongoing basis and provision is made for doubtful debts where necessary. v) Price risk Wherever possible we look to pass on any increases in costs. Where suppliers give any advance notice of increases, we often bulk buy to secure lower prices.
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MASTEROAST COFFEE CO. LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors consider the key performance indicators applicable to the Company to be production quantities, customer feedback and cash resources which are all measured on a regular basis. Furthermore they consider gross profit to be a financial key performance indicator which can be seen in the Statement of comprehensive income.
This report was approved by the board and signed on its behalf.
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MASTEROAST COFFEE CO. LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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MASTEROAST COFFEE CO. LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
I am happy to report a 5% revenue increase to £34.6m (£32.9m in 2023) for the Masteroast Holdings 2024 trading year. However, the underlying increase for coffee roasted and sold, along with other products and services within the group, translated to an underlying 11% growth. To explain, through skilful purchasing of green coffee contracts during the previous year and into 2024, we were able to hold prices to protect our customers from the exceptionally high levels to which the international coffee markets had reached.
We determined, rightly, that customers’ cost security, and maintaining and growing market share, overrode the temptation for making short-term, inflated profits. Gross profits for the year rose by 2.1% to £8.1m (£6.8m in 2023), achieving nett profit of £2.8m (£1.9m in 2023), an increase of 2.4%. EBITDA was £3.8m (£2.8m in 2023), an increase of 2.5%. Like any successful manufacturing business, Masteroast is continually monitoring our production and administrative costs. Likewise, to continue our persistent growth we regularly invest in, and upgrade, our equipment and processes, however, successive governments have found fit to annually increase the minimum wage. The result has been in 2024 a not insignificant 6% being added to the nation’s wage cost which, along with inflation, makes it hard for businesses, particularly manufacturing, to control their costs. During the year, Masteroast Holdings acquired a major shareholding in The Edinburgh Tea & Coffee Company (ET&CC), the successful and highly respected coffee roasting and tea blending company based in Scotland’s capital city. We have had a long standing, two-way business relationship with ET&CC and are proud to have strengthened this relationship with such a well-managed company of enviable reputation. While we see this move as a further commitment to our investment in Scotland, with this acquisition, we will continue autonomously roasting and blending in the city, but will also benefit from the range of products and services Masteroast can bring to the table. Not least, access to Masteroast’s Europe leading, extensive inventory of green coffees, enabling a greatly enhanced offering of roasted coffee blends and origins to their Scottish customers. Moreover, Masteroast’s Scottish, private label customers, gain access to Scottish produced products. Our established customers throughout the country, will have access to this celebrated Scottish brand for export sales or an alternative brand offering in the rest of the UK. We welcome them into the Masteroast family and are very confident that this union will be of significant benefit and value to both companies. Isurus Fulfilment Ltd, a subsidiary of the group, has gone through a period of consolidation during 2024, following 3 strong years of growth and successfully installing the latest processing systems which provide industry-leading informative access for customers’ stock and product information, while streamlining services, lead times and other benefits. The nett results being the same turnover as 2023, at £2.2m, with nett profit slightly down at £161,000 (£192,000 in 2023) reflecting increased distribution and mandatory costs as mentioned earlier. Exports were somewhat static during the year at £1.74m (£1.71m), a not insignificant percentage of which was destined for the wider world. This was largely due to continuing actions in the EU, hampering the efforts of British exporters. However, due to some positive new arrangements and subsequent growth in international brands such as Marley Coffee, things are looking a little more favourable for 2025. Coffee prices on the world market reached then unprecedented levels in 2024 of around $3.25 lb (lowest around $1.50 lb), causing significant difficulties throughout the trade, particularly for roasters and distributors. Fortunately, Masteroast, as these accounts attest, managed to both protect our customers as much as possible and at the same time, produce respectable profits while growing sales.
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MASTEROAST COFFEE CO. LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
At the time of writing this report, prices having since reached around $4.30 lb, have then dropped back to around last year’s highs and subsequently recovered, only to drop again. Tightening of supply in Brazil and amongst the world’s raw coffee producers generally are likely to remain into mid-late 2026 to early 2027, potentially even then finding a base level of around $3.00 lb. These fluctuations at previously unseen price levels, are causing extremely difficult trading conditions which are likely to adversely affect profitability. Coffee’s violent price swings combined with higher minimum wages, increased employers’ N.I. contributions, capital gains and corporation tax, do not suggest an optimistic future for British industry and Masteroast is unlikely to be immune from this decline.
Whatever the short-term economic difficulties thrust upon us, Masteroast’s intentions are to continue investing in growth. 2025 will see the installation of a new mid-range capacity coffee roaster, giving us greater batch roasting flexibility. The new Neuhaus Neotec coffee roaster, installed in early 2025, will complement the other three machines already in use from the same German manufacturer, providing the most flexible operating systems available, allowing an infinite range of bespoke roasted blends and flavour profiles with unrivalled quality of roasted product. The present economic climate has proved to be a difficult time for several businesses in the UK coffee industry, with a number of companies failing or deciding to retreat from the market. While this is an unfortunate reflection on the state of business in this country, not least for those connected to the hospitality industry, it does create an opportunity for Masteroast to acquire or invest in good, well managed businesses requiring investment or the advantages offered by the backing of an established and financially stable company. We hope to announce further developments in 2025’s annual accounts. As ever, I have to thank and congratulate everyone in the exceptional Masteroast team for playing their part in creating these satisfying accounts.
The profit for the year, after taxation, amounted to £1,469,123 (2023: £1,646,526).
Dividends paid in the year amounted to £176,160 (2023: £190,640) as seen in note 11 to these financial statements.
The directors who served during the year were:
The directors have chosen to include details concerning the financial instruments, included within principal risks and uncertainties, in the Strategic Report.
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MASTEROAST COFFEE CO. LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and
the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.
The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP.
MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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MASTEROAST COFFEE CO. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MASTEROAST COFFEE CO. LIMITED
We have audited the financial statements of Masteroast Coffee Co. Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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MASTEROAST COFFEE CO. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MASTEROAST COFFEE CO. LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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MASTEROAST COFFEE CO. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MASTEROAST COFFEE CO. LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• Enquiry of management and those charged with governance around actual and potential litigation and claims; • Enquiry of entity staff in compliance functions to identify any instance of non-compliance with laws and regulations; • Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustment for appropriateness and reviewing accounting estimates for bias. • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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MASTEROAST COFFEE CO. LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MASTEROAST COFFEE CO. LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of MHA, Statutory Auditor Peterborough, United Kingdom Date:
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).
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MASTEROAST COFFEE CO. LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
REGISTERED NUMBER: 01746071
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 30 form part of these financial statements.
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MASTEROAST COFFEE CO. LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Masteroast Coffee Co. Limited ("the Company") is a private company limited by shares, incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the Company information. The nature of the Company's operations and its principal activities are set out in the Strategic report on page 1. The functional and presentational currency of the Company is pounds sterling (£) and rounded to the nearest whole pound.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Masteroast Holdings Limited as at 31 December 2024 and these financial statements may be obtained from Companies House.
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainity and that they can continue to adopt the going concern basis in preparing the annual report and accounts.
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method and on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Estimates and judgments 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. Below is a summary of the key judgements and estimates included within these accounting policies: a) Key judgments in applying accounting policies i) Lease classification Management has exercised judgement in determining the classification of lease arrangements under the applicable accounting framework. In assessing whether the lease conveys substantially all the risks and rewards incidental to ownership, consideration was given to factors such as the lease term relative to the asset’s economic life, the present value of minimum lease payments compared to the fair value of the asset, and the existence of any purchase options or residual value guarantees. This judgement has a material impact on the presentation of assets and liabilities in the financial statements and on the recognition of lease-related expenses. b) Key accounting estimates and assumptions i) Determining useful economic lives of tangible fixed assets The Company depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on the historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technology innovation, product life cycle and maintenance programmes.
An analysis of turnover by class of business is as follows; sale of goods £31,308,559 (2023: £29,707,063) and rendering of services £568,859 (2023: £343,420).
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Profit and loss account
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately of those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £100,404 (2023: £107,463). Contributions totalling £21,391 (2023: £nil) were payable to the fund at the balance sheet date.
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MASTEROAST COFFEE CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company's immediate and ultimate parent company is Masteroast Holdings Limited, a company which is incorporated in England and Wales and holds all of the issued ordinary shares in this company.
The registered address of Masteroast Holdings Limited is Plantation House, Newark Road, Peterborough, United Kingdom, PE1 5UA. The Company is under the ultimate control of Mr L G Mills, the majority shareholder of Masteroast Holdings Limited.
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