Company registration number 04326626 (England and Wales)
VOYAGER COFFEE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
VOYAGER COFFEE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
VOYAGER COFFEE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
2,323
2,795
Tangible assets
5
248,695
259,341
251,018
262,136
Current assets
Stocks
115,670
111,154
Debtors
6
190,492
161,050
Cash at bank and in hand
36,366
39,035
342,528
311,239
Creditors: amounts falling due within one year
7
(355,323)
(309,845)
Net current (liabilities)/assets
(12,795)
1,394
Total assets less current liabilities
238,223
263,530
Creditors: amounts falling due after more than one year
8
(63,692)
(64,649)
Provisions for liabilities
(23,121)
(27,460)
Net assets
151,410
171,421
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
151,408
171,419
Total equity
151,410
171,421

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 August 2026 and are signed on its behalf by:
Ms E L Davis
Director
Company registration number 04326626 (England and Wales)
VOYAGER COFFEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Voyager Coffee Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, Mardle Way Business Park, Buckfastleigh, Devon, TQ11 0JL.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis. In adopting this basis, the directors have considered the company’s financial position, its recent trading performance, expected future cash flows and the availability of financial support from its owners.

During the year the company generated turnover of £1,753,186 (2024: £1,599,275) and an operating loss of £8,882 (2024: profit £8,031). After taxation, the company reported a loss for the financial period of £20,011 (2024: £5,869). At the balance sheet date the company had net current liabilities of £12,795 (2024: Net current assets £1,394). These net current liabilities include amounts owed to group undertakings of £30,000.

Following the year end the company received additional support from its owners in the form of a loan in the sum of £50,000.

The directors have prepared and reviewed cash flow forecasts for a period of at least twelve months from the date of approval of these financial statements. These forecasts take account of expected trading levels, coffee market conditions, payroll and other operating costs, tax liabilities, working capital requirements and the continued support available from group undertakings. The forecasts indicate that the company will have adequate resources to meet its liabilities as they fall due throughout the going concern assessment period.

The directors have also considered the principal risks affecting the business, including workforce availability, changes in customer demand and rates, and increases in employment-related costs, including National Insurance and National Living Wage changes. The directors consider that the company’s improved market share and the performance of the coffee sector in general combined with the availability of group support provide a reasonable basis for the company to continue in operational existence for the foreseeable future.

Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date of approval of these financial statements. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

VOYAGER COFFEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The company recognises revenue from the following major sources:

- Sale of coffee and coffee related equipment

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Sale of coffee and coffee related equipment

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
10% straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line
Plant and equipment
10% - 25% reducing balance, depending on useful life
Motor vehicles
25% reducing balance
VOYAGER COFFEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell using the "First in, first out" basis. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

VOYAGER COFFEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of current and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

VOYAGER COFFEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.16
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

The company accounts for grants using the accrual model.

1.17
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
15
15
VOYAGER COFFEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
4
Intangible fixed assets
Other
£
Cost
At 1 January 2025 and 31 December 2025
4,717
Amortisation and impairment
At 1 January 2025
1,922
Amortisation charged for the year
472
At 31 December 2025
2,394
Carrying amount
At 31 December 2025
2,323
At 31 December 2024
2,795
5
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2025
17,715
615,232
185,667
818,614
Additions
-
0
38,104
27,500
65,604
Disposals
-
0
-
0
(25,973)
(25,973)
At 31 December 2025
17,715
653,336
187,194
858,245
Depreciation and impairment
At 1 January 2025
14,449
441,260
103,564
559,273
Depreciation charged in the year
1,043
49,827
21,376
72,246
Eliminated in respect of disposals
-
0
-
0
(21,969)
(21,969)
At 31 December 2025
15,492
491,087
102,971
609,550
Carrying amount
At 31 December 2025
2,223
162,249
84,223
248,695
At 31 December 2024
3,266
173,972
82,103
259,341
VOYAGER COFFEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
152,360
127,694
Other debtors
16,096
11,296
Prepayments and accrued income
22,036
22,060
190,492
161,050
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
82,163
70,999
Obligations under finance leases
28,321
20,244
Payments received on account
12,355
26,370
Trade creditors
120,650
122,112
Amounts owed to group undertakings
30,000
30,000
Taxation and social security
55,435
19,549
Deferred income
-
0
529
Other creditors
9,945
5,288
Accruals and deferred income
16,454
14,754
355,323
309,845

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets.

The company leases plant and equipment for use in its trade. Finance leases are secured on the assets to which they relate.

8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
-
0
20,833
Obligations under finance leases
63,692
43,816
63,692
64,649

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets.

Finance leases are secured on the assets to which they relate.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of 5p each
40
40
2
2
VOYAGER COFFEE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
9
Called up share capital
(Continued)
- 9 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Senior Statutory Auditor:
Shane Cann BSc (Hons) FCA FCCA CTA
Statutory Auditor:
Streets Audit LLP
11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Supply of Bookkeeping services
2025
2024
£
£
Davis-Gray Accounts and Bookkeeping Limited
19,313
26,564

During the year, the company used the services of Davis-Gray Accounts and Bookkeeping Limited, a company controlled by Ms Emma Davis. Ms Emma Davis is a director of the company. The services supplied by Davis-Gray Accounts and Bookkeeping Limited were on the same terms as those afforded to other clients of that firm and, as such, are considered to be transactions at arm's length.

Following the year end, the company was advanced funding of £50,000 by its owner, Hausbrandt Trieste 1892 Handels GmbH.

12
Parent company

The immediate and ultimate parent undertaking of the company is Hausbrandt Trieste 1892 Handels GmbH, a company incorporated in Austria with its registered office at IZ NÖ Süd Straße 15 Objekt 77/3/6, 2355 Wiener Neudorf.

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