false
false
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false
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No description of principal activity
2016-08-01
Sage Accounts Production Advanced 2017 Update 3 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
09677911
2016-08-01
2017-07-31
09677911
2017-07-31
09677911
2016-07-31
09677911
2015-07-09
2016-07-31
09677911
2016-07-31
09677911
core:PlantMachinery
2016-08-01
2017-07-31
09677911
core:FurnitureFittings
2016-08-01
2017-07-31
09677911
bus:RegisteredOffice
2016-08-01
2017-07-31
09677911
bus:LeadAgentIfApplicable
2016-08-01
2017-07-31
09677911
bus:Director1
2016-08-01
2017-07-31
09677911
core:PlantMachinery
2016-07-31
09677911
core:FurnitureFittings
2016-07-31
09677911
core:PlantMachinery
2017-07-31
09677911
core:FurnitureFittings
2017-07-31
09677911
core:ShareCapital
2015-07-09
2016-07-31
09677911
core:RetainedEarningsAccumulatedLosses
2015-07-09
2016-07-31
09677911
core:RetainedEarningsAccumulatedLosses
2016-08-01
2017-07-31
09677911
core:WithinOneYear
2017-07-31
09677911
core:WithinOneYear
2016-07-31
09677911
core:ShareCapital
2017-07-31
09677911
core:ShareCapital
2016-07-31
09677911
core:RetainedEarningsAccumulatedLosses
2017-07-31
09677911
core:RetainedEarningsAccumulatedLosses
2016-07-31
09677911
core:RestatedAmount
2016-07-31
09677911
core:PlantMachinery
2016-07-31
09677911
core:FurnitureFittings
2016-07-31
09677911
bus:FRS102
2016-08-01
2017-07-31
09677911
bus:AuditExemptWithAccountantsReport
2016-08-01
2017-07-31
09677911
bus:FullAccounts
2016-08-01
2017-07-31
09677911
bus:SmallCompaniesRegimeForAccounts
2016-08-01
2017-07-31
09677911
bus:PrivateLimitedCompanyLtd
2016-08-01
2017-07-31
COMPANY REGISTRATION NUMBER:
09677911
Filleted Unaudited Financial Statements
|
|
Year ended 31 July 2017
Officers and professional advisers
|
1
|
|
|
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Statement of changes in equity
|
4
|
|
|
Notes to the financial statements
|
5 to 9
|
|
|
Officers and Professional Advisers
|
|
Registered office
|
94 Warwick Street
|
|
Leamington Spa
|
|
Warwickshire
|
|
United Kingdom
|
|
CV32 4QG
|
|
|
Accountants
|
Edwards Pearson & White LLP
|
|
Chartered Certified Accountants
|
|
Warwick & Coventry
|
|
|
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Spa Town Coffee Ltd
|
|
Year ended 31 July 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spa Town Coffee Ltd for the year ended 31 July 2017, which comprise the statement of financial position, statement of changes in equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Spa Town Coffee Ltd in accordance with the terms of our engagement letter dated 7 September 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Spa Town Coffee Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spa Town Coffee Ltd and its director for our work or for this report.
It is your duty to ensure that Spa Town Coffee Ltd 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 Spa Town Coffee Ltd. You consider that Spa Town Coffee Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Spa Town Coffee Ltd. 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.
Edwards Pearson & White LLP
Chartered Certified Accountants
Warwick & Coventry
1 December 2017
Statement of Financial Position
|
|
31 July 2017
Fixed assets
Tangible assets
|
5
|
|
23,813
|
28,015
|
|
|
|
|
|
Current assets
Stocks
|
2,000
|
|
500
|
Debtors
|
6
|
9,425
|
|
8,020
|
Cash at bank and in hand
|
2,379
|
|
6,514
|
|
-------
|
|
-------
|
|
13,804
|
|
15,034
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
28,473
|
|
34,348
|
|
-------
|
|
-------
|
Net current liabilities
|
|
14,669
|
19,314
|
|
|
-------
|
-------
|
Total assets less current liabilities
|
|
9,144
|
8,701
|
|
|
|
|
|
Accruals and deferred income
|
|
2,261
|
1,896
|
|
|
------
|
------
|
Net assets
|
|
6,883
|
6,805
|
|
|
------
|
------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
10
|
10
|
Profit and loss account
|
|
6,873
|
6,795
|
|
|
------
|
------
|
Shareholders funds
|
|
6,883
|
6,805
|
|
|
------
|
------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 July 2017 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 financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
30 November 2017
, and are signed on behalf of the board by:
Company registration number:
09677911
Statement of Changes in Equity
|
|
Year ended 31 July 2017
|
Called up share capital
|
Profit and loss account
|
Total
|
|
£
|
£
|
£
|
At 9 July 2015
|
–
|
–
|
–
|
|
|
|
|
Profit for the year
|
|
6,795
|
6,795
|
|
----
|
------
|
------
|
Total comprehensive income for the year
|
–
|
6,795
|
6,795
|
|
|
|
|
Issue of shares
|
10
|
–
|
10
|
|
----
|
------
|
------
|
Total investments by and distributions to owners
|
10
|
–
|
10
|
|
|
|
|
At 31 July 2016
|
10
|
6,795
|
6,805
|
|
|
|
|
Profit for the year
|
|
78
|
78
|
|
----
|
------
|
------
|
Total comprehensive income for the year
|
–
|
78
|
78
|
|
|
|
|
|
----
|
------
|
------
|
At 31 July 2017
|
10
|
6,873
|
6,883
|
|
----
|
------
|
------
|
|
|
|
|
Notes to the Financial Statements
|
|
Year ended 31 July 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 94 Warwick Street, Leamington Spa, Warwickshire, United Kingdom, CV32 4QG.
2.
Statement of compliance
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 9 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Judgements in applying accounting policies and key sources of estimation in uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historic experience and various other factors that are believed to be reasonable under the circumstances. The results of which form the basis of making the judgements about carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates. The significant judgements, estimates and assumptions are: - Trade debtors At each reporting date, amounts owed by trade debtors are assessed for recoverability. If there is any evidence of impairment, the carrying amount of the debtor is reduced to its recoverable amount. The impairment loss is recognised immediately in the statement of comprehensive income. - Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessment consider issues such as future market conditions, the remaining life of the asset and projected disposal values. - Stocks At each reporting date, the amounts in stock are assessed for recoverability. If there is any evidence of impairment the carrying amount of the stock is reduced to its recoverable amount. The impairment loss is recognised immediately in the statement of comprehensive income.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and Equipment
|
-
|
15% reducing balance
|
|
Fixtures and fittings
|
-
|
15% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise cash at bank and in hand and trade debtors; these are initially recorded at cost on the date they originate and are subsequently recorded at amortised cost under the effective interest method. The company considers evidence of impairment for all individual trade and other debtors and any subsequent impairment is recognised in profit or loss. - Impairment of financial assets carries at amortised cost Impairment provisions are recognised when there is objective evidence that a financial asset or group of financial assets is impaired. Objective evidence includes significant financial difficulties of the counterparty, default or significant delays in payment. Impairment provisions represent the difference between the net carrying amount of a financial asset and the present value of the expected future cash receipts from that asset. - Financial liabilities Financial liabilities comprise corporation tax, social security and other taxes and accruals; these are initially recorded at cost on the date they originate, and are subsequently carried at amortised cost under the effective interest rate method. - Debtors Short term debtors are measured at transaction price, less any impairment. - Creditors Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. - Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice or not more than 24 hours. - Stock Stock is valued at the lower of cost or net realisable value. Cost is based on purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs for completion and disposal. At each reporting date stock and work in progress are assessed for impairment. If stock and work in progress is impaired the carrying value is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss. - Income Tax Taxation expense represents the aggregate amount of the current tax and deferred tax recognised in the reporting period. Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantially enacted by the reporting date and that they are expected to apply to the reversal of the timing differences.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2016:
9
).
5.
Tangible assets
|
Plant and machinery
|
Fixtures and fittings
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 August 2016 and 31 July 2017
|
13,186
|
19,773
|
32,959
|
|
-------
|
-------
|
-------
|
Depreciation
|
|
|
|
At 1 August 2016
|
1,978
|
2,966
|
4,944
|
Charge for the year
|
1,681
|
2,521
|
4,202
|
|
-------
|
-------
|
-------
|
At 31 July 2017
|
3,659
|
5,487
|
9,146
|
|
-------
|
-------
|
-------
|
Carrying amount
|
|
|
|
At 31 July 2017
|
9,527
|
14,286
|
23,813
|
|
-------
|
-------
|
-------
|
At 31 July 2016
|
11,208
|
16,807
|
28,015
|
|
-------
|
-------
|
-------
|
|
|
|
|
6.
Debtors
|
2017
|
2016
|
|
£
|
£
|
Trade debtors
|
1,405
|
–
|
Other debtors
|
8,020
|
8,020
|
|
------
|
------
|
|
9,425
|
8,020
|
|
------
|
------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2017
|
2016
|
|
£
|
£
|
Trade creditors
|
1,803
|
–
|
Social security and other taxes
|
3,312
|
2,640
|
Other creditors
|
23,358
|
31,708
|
|
-------
|
-------
|
|
28,473
|
34,348
|
|
-------
|
-------
|
|
|
|
8.
Director's advances, credits and guarantees
The directors loan account was in credit throughout the year.
9.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 9 July 2015.
No transitional adjustments were required in equity or profit or loss for the period.