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Registration number: SC269185

Rare Tea Company Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 30 June 2025

Rare Tea Company Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

Rare Tea Company Limited

Company Information

Director | Miss Henrietta Lovell

Company secretary | Miss Henrietta Lovell

Registered office | 5 Atholl Crescent Edinburgh Midlothian EH3 8EJ

Accountants | Lucraft Hodgson & Dawes LLP 2/4 Ash Lane Rustington Littlehampton West Sussex BN16 3BZ

Rare Tea Company Limited

(Registration number: SC269185)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | - | 880
Tangible assets | 5 | 5,554 | 6,502
|  | 5,554 | 7,382
Current assets |  |  |
Stocks | 6 | 338,600 | 394,329
Debtors | 7 | 283,078 | 261,536
Cash at bank and in hand |  | 487,555 | 310,358
|  | 1,109,233 | 966,223
Creditors: Amounts falling due within one year | 8 | (201,644) | (181,966)
Net current assets |  | 907,589 | 784,257
Total assets less current liabilities |  | 913,143 | 791,639
Provisions for liabilities |  | (1,160) | (1,166)
Net assets |  | 911,983 | 790,473
Capital and reserves |  |  |
Called up share capital |  | 13 | 13
Capital redemption reserve |  | 7 | 7
Profit and loss account |  | 911,963 | 790,453
Shareholders' funds |  | 911,983 | 790,473

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 October 2025

Rare Tea Company Limited

(Registration number: SC269185)
Balance Sheet as at 30 June 2025

......................................... Miss Henrietta Lovell Company secretary and director

Rare Tea Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1 | General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
5 Atholl Crescent
Edinburgh
Midlothian
EH3 8EJ

These financial statements were authorised for issue by the director on 22 October 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

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.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Rare Tea Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

2 | Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

The current income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

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
Computer equipment | 33% on cost
Plant and Machinery | 15% and 25% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Patent | useful life

Rare Tea Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

2 | Accounting policies (continued)

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 merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 subsequently measured at amortised cost using the effective interest method.

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.

Rare Tea Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

2 | Accounting policies (continued)

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2024 - 12).

Rare Tea Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4 | Intangible assets

| Trademarks, patents and licenses £ | Other intangible assets £ | Total £
Cost or valuation
At 1 July 2024 | 1,438 | 4,500 | 5,938
At 30 June 2025 | 1,438 | 4,500 | 5,938
Amortisation
At 1 July 2024 | 1,438 | 3,620 | 5,058
Amortisation charge | - | 880 | 880
At 30 June 2025 | 1,438 | 4,500 | 5,938
Carrying amount
At 30 June 2025 | - | - | -
At 30 June 2024 | - | 880 | 880

Rare Tea Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

5 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 July 2024 | 11,648 | 11,648
Additions | 2,004 | 2,004
At 30 June 2025 | 13,652 | 13,652
Depreciation
At 1 July 2024 | 5,146 | 5,146
Charge for the year | 2,952 | 2,952
At 30 June 2025 | 8,098 | 8,098
Carrying amount
At 30 June 2025 | 5,554 | 5,554
At 30 June 2024 | 6,502 | 6,502

6 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 338,600 | 394,329
| 338,600 | 394,329

Rare Tea Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7 | Debtors

Current |
2025 £
2024 £
Trade debtors | 182,791 | 187,803
Prepayments | 33,619 | 36,002
Other debtors | 66,668 | 37,731
| 283,078 | 261,536

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 1,308 | 482
Trade creditors |  | 25,698 | 62,096
Taxation and social security |  | 106,751 | 85,300
Accruals and deferred income |  | 21,986 | 20,394
Other creditors |  | 45,901 | 13,694
|  | 201,644 | 181,966

9 | Loans and borrowings

| 2025 £ | 2024 £
Current loans and borrowings
Other borrowings | 1,308 | 482
| 1,308 | 482