REGISTERED NUMBER: 10636891 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

GARAGE COFFEE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

L R Underdown

REGISTERED OFFICE:

Calcott Oast

Calcott Hill

Sturry

Kent

CT3 4ND

REGISTERED NUMBER:

10636891 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

2 The Links

HERNE BAY

Kent

CT6 7GQ

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

123,673

112,531

123,673

112,531

CURRENT ASSETS

Stocks

39,975

34,468

Debtors

7

46,788

23,467

Cash at bank and in hand

9,943

39,312

96,706

97,247

CREDITORS

Amounts falling due within one year

8

150,897

125,491

NET CURRENT LIABILITIES

(54,191

)

(28,244

)

TOTAL ASSETS LESS CURRENT LIABILITIES

69,482

84,287

CREDITORS

Amounts falling due after more than one year

9

(53,941

)

(69,631

)

PROVISIONS FOR LIABILITIES

(11,892

)

(13,382

)

NET ASSETS

3,649

1,274

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,549

1,174

3,649

1,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 18th September 2025 and were signed by:

L R Underdown - Director

1.	STATUTORY INFORMATION

Garage Coffee Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Recognition:

The company earns revenue from the sale of food, beverages and merchandise which is recognised at the point of sale with the exception of wholesale and online orders which are recognised on delivery. This revenue is recognised in the accounting period when control of the product has been transferred, at an amount that reflects the consideration to which the company expects to be entitled in exchange for fulfilling its performance obligations to customers.

The following 5 step principles are applied to revenue recognition:

1. Identify the contracts with the customer

2. Identify the performance obligations in the contract

3. Determine the transaction price

4. Allocate the transaction price to the performance obligations in the contract

5. Recognise revenue when or as the company satisfies its performance obligations

Sale of food and beverages:

For retail, the contract is established when the customer orders the food and beverage, and the performance obligation is the provision of food and beverages by the outlet. The performance obligation is satisfied when the food and beverage is delivered to the customer, and revenue is recognised at this point at the price for the items purchased. Payment is made on the same day and consequently there are no contract assets or liabilities.

For online sales, the contract is established when an order has been placed for the supply of goods by the customer. The performance obligation is the promise in the contract to deliver the goods to the customer for the agreed transaction price. The revenue is recognised when the title of ownership transfers from the company to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of six years.

Intangible assets

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

10% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2024 - 32 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2024

and 31st March 2025

3,250

AMORTISATION

At 1st April 2024

and 31st March 2025

3,250

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

-

6.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st April 2024

37,400

116,018

35,194

Additions

14,177

4,663

16,063

At 31st March 2025

51,577

120,681

51,257

DEPRECIATION

At 1st April 2024

10,135

59,143

15,514

Charge for year

4,145

12,294

7,148

At 31st March 2025

14,280

71,437

22,662

NET BOOK VALUE

At 31st March 2025

37,297

49,244

28,595

At 31st March 2024

27,265

56,875

19,680

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2024

13,000

7,204

208,816

Additions

-

2,340

37,243

At 31st March 2025

13,000

9,544

246,059

DEPRECIATION

At 1st April 2024

6,178

5,315

96,285

Charge for year

1,364

1,150

26,101

At 31st March 2025

7,542

6,465

122,386

NET BOOK VALUE

At 31st March 2025

5,458

3,079

123,673

At 31st March 2024

6,822

1,889

112,531

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

39,419

16,327

Other debtors

7,369

7,140

46,788

23,467

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

23,138

5,594

Hire purchase contracts

1,868

-

Trade creditors

68,049

78,265

Taxation and social security

17,761

15,947

Other creditors

40,081

25,685

150,897

125,491

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

24,094

29,797

Hire purchase contracts

4,689

-

Other creditors

25,158

39,834

53,941

69,631