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Registered number: 10635503 NORTH SEA COFFEE COMPANY LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 28 FEBRUARY 2026
NORTH SEA COFFEE COMPANY LIMITED COMPANY INFORMATION
Directors | Mr S Thompson
| Mrs R Robinson
Registered number | 10635503
Registered office | 12 Church Street
| Cromer
| Norfolk
| NR27 9ER
Accountants | MA Partners LLP
| Chartered Accountants
| 7 The Close
| Norwich
| Norfolk
| NR1 4DJ
NORTH SEA COFFEE COMPANY LIMITED CONTENTS
| Page
Accountants' report | 1
Balance sheet | 2 - 3
Notes to the financial statements | 4 - 10
NORTH SEA COFFEE COMPANY LIMITED CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NORTH SEA COFFEE COMPANY LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2026 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North Sea Coffee Company Limited for the year ended 28 February 2026 which comprise the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the board of directors of North Sea Coffee Company Limited, as a body, in accordance with the terms of our engagement letter dated April 2023. Our work has been undertaken solely to prepare for your approval the financial statements of North Sea Coffee Company Limited and state those matters that we have agreed to state to the board of directors of North Sea Coffee Company Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North Sea Coffee Company Limited and its board of directors, as a body, for our work or for this report. It is your duty to ensure that North Sea Coffee Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of North Sea Coffee Company Limited. You consider that North Sea Coffee Company Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of North Sea Coffee Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. MA Partners LLP Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ 9 April 2026 Page 1
NORTH SEA COFFEE COMPANY LIMITED REGISTERED NUMBER: 10635503 BALANCE SHEET AS AT 28 FEBRUARY 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 24,056 |  | 27,297
|  |  | 24,056 |  | 27,297
Current assets |  |  |  |  |
Stocks |  | 8,319 |  | 12,372 |
Debtors: amounts falling due within one year | 5 | 1,856 |  | 1,994 |
Cash at bank and in hand | 6 | 148,444 |  | 84,799 |
|  | 158,619 |  | 99,165 |
Creditors: amounts falling due within one year | 7 | (37,287) |  | (23,534) |
Net current assets |  |  | 121,332 |  | 75,631
Total assets less current liabilities |  |  | 145,388 |  | 102,928
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (6,375) |  | (7,234) |
|  |  | (6,375) |  | (7,234)
Net assets |  |  | 139,013 |  | 95,694
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 138,913 |  | 95,594
|  |  | 139,013 |  | 95,694
Page 2
NORTH SEA COFFEE COMPANY LIMITED REGISTERED NUMBER: 10635503 BALANCE SHEET (CONTINUED) AS AT 28 FEBRUARY 2026 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Mr S Thompson | ................................................ Mrs R Robinson
Director | Director
Date: 7 April 2026 |
The notes on pages 4 to 10 form part of these financial statements. Page 3
NORTH SEA COFFEE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026
1. | General information
North Sea Coffee Company Limited is a company limited by shares, incorporated in England and Wales. The registered office address is 12 Church Street, Cromer, NR27 9ER. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the company has transferred the significant risks and rewards of ownership to the buyer; ∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 4
NORTH SEA COFFEE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 2.Accounting policies (continued)
| 2.5 | Pensions
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 accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 5
NORTH SEA COFFEE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 2.Accounting policies (continued)
| 2.7 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% | reducing balance
|  |  |  | Motor vehicles | - | 20% | reducing balance
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.
| 2.8 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 6
NORTH SEA COFFEE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 2.Accounting policies (continued)
| 2.12 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.13 | Financial instruments
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. 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 Page 7
NORTH SEA COFFEE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026 2.Accounting policies (continued)
| 2.13 | Financial instruments (continued)
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.
| 2.14 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2026 | 2025
|  |  | No. | No.
|  | Average number of employees | 7 | 6
Page 8
NORTH SEA COFFEE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 March 2025 | 17,235 | 23,106 | 40,341
| Additions | 3,104 | - | 3,104
| Disposals | (469) | - | (469)
| At 28 February 2026 | 19,870 | 23,106 | 42,976
| Depreciation |  |  |
| At 1 March 2025 | 8,422 | 4,622 | 13,044
| Charge for the year on owned assets | 2,348 | 3,697 | 6,045
| Disposals | (169) | - | (169)
| At 28 February 2026 | 10,601 | 8,319 | 18,920
| Net book value |  |  |
| At 28 February 2026 | 9,269 | 14,787 | 24,056
| At 28 February 2025 | 8,813 | 18,484 | 27,297
Page 9
NORTH SEA COFFEE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2026
5. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Other debtors | 345 | -
| Prepayments and accrued income | 1,511 | 1,994
|  | 1,856 | 1,994
6. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 148,444 | 84,799
|  | 148,444 | 84,799
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade creditors | 1,969 | 405
| Corporation tax | 20,750 | 13,955
| Other taxation and social security | 9,072 | 3,920
| Other creditors | 2,375 | 2,486
| Accruals and deferred income | 3,121 | 2,768
|  | 37,287 | 23,534
8. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from 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 £20,712 (2025 - £708). Contributions totalling £36 (2025 - £40) were payable to the fund at the balance sheet date and are included in creditors.
9. | Related party transactions
| At the year end the company owed its directors £2,339 (2025: £2,446) in respect of an interest-free director's loan account which is repayable within one year.
Page 10