Company No: 06240207 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	500,167		724,610
Tangible assets	4	711,244		737,506
Investment property	5	425,000		425,000
Investments	6	671,247		657,760
		2,307,658		2,544,876
Current assets
Debtors	7	383,828		381,545
Cash at bank and in hand		2,431,873		1,885,350
		2,815,701		2,266,895
Creditors: amounts falling due within one year	8	( 291,604)		( 267,628)
Net current assets		2,524,097		1,999,267
Total assets less current liabilities		4,831,755		4,544,143
Provision for liabilities		( 72,570)		( 75,729)
Net assets		4,759,185		4,468,414
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		4,759,085		4,468,314
Total shareholders' funds		4,759,185		4,468,414

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Literature and Latte Limited (registered number: 06240207) were approved and authorised for issue by the Board of Directors on 19 December 2025. They were signed on its behalf by:

K M Blount Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Literature and Latte Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.
The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.
The principal place of business is Heron Creek, Old Tram Road, Devoran, Truro, Cornwall, TR3 6NF.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs	4 years straight line
Other intangible assets	5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Vehicles	25 % reducing balance
Fixtures and fittings	3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The land and buildings are not depreciated as they are maintained year on year and therefore maintain their value.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Intangible assets

	Website costs		Other intangible assets		Total
	£		£		£
Cost
At 01 April 2024	123,125		1,091,288		1,214,413
At 31 March 2025	123,125		1,091,288		1,214,413
Accumulated amortisation
At 01 April 2024	107,852		381,951		489,803
Charge for the financial year	6,185		218,258		224,443
At 31 March 2025	114,037		600,209		714,246
Net book value
At 31 March 2025	9,088		491,079		500,167
At 31 March 2024	15,273		709,337		724,610

4. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	616,655		282,167		150,707		1,049,529
Additions	0		0		14,408		14,408
At 31 March 2025	616,655		282,167		165,115		1,063,937
Accumulated depreciation
At 01 April 2024	0		180,564		131,459		312,023
Charge for the financial year	0		25,401		15,269		40,670
At 31 March 2025	0		205,965		146,728		352,693
Net book value
At 31 March 2025	616,655		76,202		18,387		711,244
At 31 March 2024	616,655		101,603		19,248		737,506

5. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	425,000
As at 31 March 2025	425,000

The property has been revalued by the directors at 31 March 2025 based on sales of similar properties in the surrounding area.

6. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	657,760		657,760
Additions	116,967		116,967
Disposals	( 99,653)		( 99,653)
Movement in fair value	( 3,827)		( 3,827)
At 31 March 2025	671,247		671,247
Carrying value at 31 March 2025	671,247		671,247
Carrying value at 31 March 2024	657,760		657,760

The investments consist of funds held with stockbrokers. The funds are included within the accounts at market value at 31 March 2025, as valued by the fund manager, Brewin Dolphin.

7. Debtors

	2025		2024
	£		£
Trade debtors	376,323		373,937
Prepayments	426		370
VAT recoverable	5,079		5,238
Other debtors	2,000		2,000
	383,828		381,545

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	30,153		14,528
Amounts owed to Group undertakings	2,108		1,908
Taxation and social security	235,556		225,320
Other creditors	23,787		25,872
	291,604		267,628

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Ultimate controlling party

The company is controlled by Librocube Limited who owns 85% of the share capital. The ultimate controlling parties are the directors Mr K Blount and Mrs J Blount who own 100% of the share capital of Librocube Limited.

The company's immediate parent is Librocube Limited, incorporated in the UK.

The ultimate controlling party is Mr K Blount and Mrs J Blount.