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Registration number: 09333360

Prepared for the registrar
Vintage Tea & Coffee Co Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 May 2025

Vintage Tea & Coffee Co Limited

(Registration number: 09333360)
Balance Sheet as at 31 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 2,176,328 | 2,704,222
Current assets |  |  |
Stocks |  | 178,194 | 205,784
Debtors | 5 | 214,365 | 320,192
Cash at bank and in hand |  | 84,679 | 1,531
|  | 477,238 | 527,507
Creditors: Amounts falling due within one year | 6 | (2,170,875) | (2,557,333)
Net current liabilities |  | (1,693,637) | (2,029,826)
Total assets less current liabilities |  | 482,691 | 674,396
Creditors: Amounts falling due after more than one year | 6 | (1,054,626) | (1,357,380)
Net liabilities |  | (571,935) | (682,984)
Capital and reserves |  |  |
Called up share capital |  | 8 | 8
Share premium reserve |  | 499,996 | 499,996
Retained earnings |  | (1,071,939) | (1,182,988)
Shareholders' deficit |  | (571,935) | (682,984)

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2026 and signed on its behalf by:

C V Barker
Director

Vintage Tea & Coffee Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1-13 Castle Arcade
High Street
Cardiff
CF10 1BU
Wales

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

Management have produced forecasts which have been reviewed by the directors. These demonstrate the company is forecast to generate profits and cash in the foreseeable future. As such, the directors are satisfied that the company has adequate resources to continue in operational existence and therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Vintage Tea & Coffee Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Leasehold improvements | 10% straight line
Furniture, fittings and equipment | 20% reducing balance and 20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Vintage Tea & Coffee Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
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 profit or loss.

Restatement of comparative figures

During the year, the company undertook a review of the presentation of expenditure within the profit and loss account. As part of this review, management identified costs of £134,900 that required reallocation from cost of sales to administrative expenses.
This reclassification affects presentation only and has no impact on the profit/(loss) for the year or the net liabilities previously reported.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 167 (2024 - 143).

Vintage Tea & Coffee Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

| 4 | Tangible assets

| Leasehold improvements £ | Furniture, fittings and equipment £ | Total £
Cost
At 1 June 2024 | 2,989,247 | 2,112,396 | 5,101,643
Additions | 9,304 | 28,747 | 38,051
Disposals | (509,593) | (87,970) | (597,563)
At 31 May 2025 | 2,488,958 | 2,053,173 | 4,542,131
Depreciation
At 1 June 2024 | 1,128,439 | 1,268,982 | 2,397,421
Charge for the year | 281,312 | 148,994 | 430,306
Eliminated on disposal | (390,202) | (71,722) | (461,924)
At 31 May 2025 | 1,019,549 | 1,346,254 | 2,365,803
Carrying amount
At 31 May 2025 | 1,469,409 | 706,919 | 2,176,328
At 31 May 2024 | 1,860,808 | 843,414 | 2,704,222

| 5 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 25,580 | 16,971
Receivables from related parties | 9 | 24,542 | 45,072
Prepayments |  | 164,243 | 258,100
Other debtors |  | - | 49
|  | 214,365 | 320,192

| 6 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 7 | 348,127 | 269,771
Trade creditors |  | 710,788 | 1,207,949
Amounts due to related parties | 9 | 241,349 | 243,888
Taxation and social security |  | 479,995 | 429,532
Accruals and deferred income |  | 307,598 | 272,328
Other creditors |  | 83,018 | 133,865
|  | 2,170,875 | 2,557,333

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 7 | 1,030,846 | 1,238,119
Other creditors |  | 23,780 | 119,261
|  | 1,054,626 | 1,357,380

Vintage Tea & Coffee Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

| 7 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 205,725 | 196,909
Bank overdrafts | 46,436 | 72,862
Other borrowings | 95,966 | -
| 348,127 | 269,771

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 131,346 | 338,619
Other borrowings | 899,500 | 899,500
| 1,030,846 | 1,238,119

Of the £337,071 bank borrowings, £75,000 (£70,000 due within one year and £5,000 due after one year) represents a Coronavirus Business Interruption loan which is guaranteed by the UK Government, £262,071 (£135,725 due within one year and £126,346 due after one year) represents the secured HSBC bank loan which is secured by way of a fixed and floating charge over all assets.

| 8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £91,726 (2024 - £244,395).

| 9 | Related party transactions

Summary of transactions with other related parties

At 31 May 2025, the directors were owed £241,349 by the company (2024: £242,906). No interest was charged on this balance and the loan is repayable on demand.
At 31 May 2025, the company was owed £19,252 (2024: £45,072) from The Lucky Onion LLP, £1,460 from (2024: £982 was owed to) Dunkertons Cider Company Limited, £1,054 (2024: £Nil) from DKH Retail Ltd, £798 (2024: £Nil) from Holland Cooper Clothing Ltd, and £1,978 (2024: £Nil) from Vintage Thrift Consultancy Ltd. These companies are related by virtue of the shareholder J Dunkerton.
At 31 May 2025, the company owed £899,500 (2024: £899,500) to its shareholders. Total interest of £230,164 (2024: £185,164) was accrued, but not paid to date.