REGISTERED NUMBER: 12792413 (England and Wales)

PROJECT COFFEE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST AUGUST 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr A Setareh

Mr A M C Watkins

REGISTERED OFFICE:

Unit 3 Stanton Court Stirling Road

South Marston Industrial Estate

SWINDON

Wiltshire

SN3 4YH

REGISTERED NUMBER:

12792413 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

FIXED ASSETS

Tangible assets

4

115,564

138,996

CURRENT ASSETS

Stocks

11,500

11,000

Debtors

5

17,021

10,928

Cash at bank

8,324

5,947

36,845

27,875

CREDITORS

Amounts falling due within one year

6

35,477

23,402

NET CURRENT ASSETS

1,368

4,473

TOTAL ASSETS LESS CURRENT LIABILITIES

116,932

143,469

CREDITORS

Amounts falling due after more than one year

7

137,054

138,300

NET (LIABILITIES)/ASSETS

(20,122

)

5,169

CAPITAL AND RESERVES

Called up share capital

10

100

100

Capital contribution reserve

162,131

178,699

Retained earnings

(182,353

)

(173,630

)

SHAREHOLDERS' FUNDS

(20,122

)

5,169

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 27th May 2026 and were signed on its behalf by:

Mr A M C Watkins - Director

1.	STATUTORY INFORMATION

Project Coffee Ltd is private company, limited by shares, registered in England and Wales.

The registered office address is Unit 3 Stanton Court Stirling Road, South Marston Industrial Estate, SWINDON, SN3 4YH.

These financial statements are presented in British Pounds (GBP), which is the company's functional and presentational currency.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover

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

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 cost

Plant and machinery

-

10% on cost and Straight line over 7 years

Fixtures and fittings

-

10% on cost and Straight line over 7 years

Stocks

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

Financial instruments

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.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st September 2024

233,191

Additions

4,453

At 31st August 2025

237,644

DEPRECIATION

At 1st September 2024

94,195

Charge for year

27,885

At 31st August 2025

122,080

NET BOOK VALUE

At 31st August 2025

115,564

At 31st August 2024

138,996

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,083

2,335

Other debtors

12,938

8,593

17,021

10,928

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

14,911

7,146

Taxation and social security

10,430

4,304

Other creditors

10,136

11,952

35,477

23,402

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

137,054

138,300

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

9,959

17,072

Between one and five years

-

9,959

9,959

27,031

9.	FINANCIAL INSTRUMENTS

During the period loans of £4,500 (2024: £nil) were repaid by Project Coffee Ltd to a company under common control. The loan was also reduced by £13,315 (2024: £nil) due to an adjustment with regards VAT. This loan has been measured at amortised cost using the effective interest method, being the present value of the discounted future cashflows.

The total amount outstanding at the balance sheet date is £299,195 (2024: £317,010).

The effective discount rate was the estimated market interest rate for loans of a similar size and nature.

The unwinding of the discount will be recognised in the income statement.

An amount of £9,652 has been recognised as a reduction to capital for the repayment and adjustment during the year (2024: £11,653 capital contribution).

In the year £6,916 (2024: £6,157) was transferred from the capital contribution reserve to retained earnings which is equal to the interest charge recognised in the income statement on the unwinding of this discount.

The amortised value of these loans as at 31 August 2025 was £137,065 (2024: £138,310).

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

11.	RELATED PARTY DISCLOSURES

During the year an interest free loan of £nil (2024: £20,673) was received from a company

under common control. The loan has been discounted to net present value as referred to in the financial instruments note. The total amount outstanding at the balance sheet date is £299,195 (2024: £317,010).