Company No:
Contents
DIRECTORS | A R Aboukhshem |
M A Aboukhshem | |
M A Aboukhshem | |
N A Aboukhshem |
REGISTERED OFFICE | 135 Cambridge Road |
Milton | |
Cambridge | |
CB24 6AT | |
United Kingdom |
COMPANY NUMBER | 08879208 (England and Wales) |
CHARTERED ACCOUNTANTS | Gascoynes |
Gascoyne House | |
Moseleys Farm Business Centre | |
Fornham All Saints | |
Bury St Edmunds | |
Suffolk | |
IP28 6JY |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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Investments | 5 |
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1,057,435 | 832,456 | |||
Current assets | ||||
Stocks | 6 |
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Debtors | ||||
- due within one year | 7 |
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- due after more than one year | 7 |
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Cash at bank and in hand |
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1,115,912 | 722,791 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current assets | 638,366 | 451,265 | ||
Total assets less current liabilities | 1,695,801 | 1,283,721 | ||
Provision for liabilities | 9 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 10 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Coffee World (UK) Ltd (registered number:
N A Aboukhshem
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Coffee World (UK) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 135 Cambridge Road, Milton, Cambridge, CB24 6AT,, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Land and buildings |
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Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Computer equipment |
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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.
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 the Statement of Income and Retained Earnings as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2023 | 2022 | ||
£ | £ | ||
Amounts recognised as distributions to equity holders in the financial year: | |||
Interim dividends for the financial year ended 31 March 2023 of £1,030 (2022: £600) per 'A' share | 103,000 | 60,000 | |
Interim dividends for the financial year ended 31 March 2023 of £800 (2022: £400) per 'B' share | 8,000 | 4,000 | |
111,000 | 64,000 | ||
Land and buildings | Plant and machinery | Vehicles | Fixtures and fittings | Computer equipment | Total | ||||||
£ | £ | £ | £ | £ | £ | ||||||
Cost | |||||||||||
At 01 April 2022 |
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Additions |
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Disposals |
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At 31 March 2023 |
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Accumulated depreciation | |||||||||||
At 01 April 2022 |
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Charge for the financial year |
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Disposals |
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At 31 March 2023 |
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Net book value | |||||||||||
At 31 March 2023 |
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At 31 March 2022 |
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Loans | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 April 2022 |
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At 31 March 2023 |
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Provisions for impairment | |||
At 01 April 2022 |
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At 31 March 2023 |
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Carrying value at 31 March 2023 |
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Carrying value at 31 March 2022 |
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2023 | 2022 | ||
£ | £ | ||
Stocks |
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2023 | 2022 | ||
£ | £ | ||
Debtors: amounts falling due within one year | |||
Trade debtors |
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Amounts owed by directors |
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Prepayments |
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VAT recoverable |
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Other debtors |
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Debtors: amounts falling due after more than one year | |||
Short term loans to associates |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Deferred tax |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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110 | 110 |
Other related party transactions
2023 | 2022 | ||
£ | £ | ||
Directors Loan Account | 9,000 | 9,000 |
The above director's loan account is interest free and there are no fixed-terms for repayment.