Traders Coffee Limited - Limited company accounts 18.2

REGISTERED NUMBER: 04613848 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 January 2020

for

Traders Coffee Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

J A Green

J C Guinnard

SECRETARY:

J C Guinnard

REGISTERED OFFICE:

274 Ewell Road

Surbiton

Surrey

KT6 7AG

REGISTERED NUMBER:

04613848 (England and Wales)

ACCOUNTANTS:

SLOANE WINCKLESS & CO

Chartered Accountants

2-4 Stoneleigh Park Road

Epsom

Surrey

KT19 0QT

The directors present their report with the financial statements of the company for the year ended 31 January 2020.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the wholesale and retail of tea, coffee and the

sale and rental of coffee equipment.

DIRECTORS

J A Green has held office during the whole of the period from 1 February 2019 to the date of this report.

Other changes in directors holding office are as follows:

Miss J Russell - resigned 10 February 2019

J C Guinnard - appointed 23 April 2019

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

J C Guinnard - Secretary

7 July 2020

TURNOVER

2,210,257

2,372,569

Cost of sales

926,312

1,084,407

GROSS PROFIT

1,283,945

1,288,162

Distribution costs

10,946

12,622

Administrative expenses

981,099

1,090,889

992,045

1,103,511

OPERATING PROFIT

4

291,900

184,651

Interest receivable and similar income

414

190

PROFIT BEFORE TAXATION

292,314

184,841

Tax on profit

54,926

40,514

PROFIT FOR THE FINANCIAL YEAR

237,388

144,327

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,208,866

1,244,649

1,208,866

1,244,649

CURRENT ASSETS

Stocks

459,029

441,247

Debtors

7

271,100

283,719

Cash in hand

356,604

109,972

1,086,733

834,938

CREDITORS

Amounts falling due within one year

8

335,353

353,275

NET CURRENT ASSETS

751,380

481,663

TOTAL ASSETS LESS CURRENT LIABILITIES

1,960,246

1,726,312

PROVISIONS FOR LIABILITIES

68,329

71,783

NET ASSETS

1,891,917

1,654,529

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,891,915

1,654,527

SHAREHOLDERS' FUNDS

1,891,917

1,654,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 7 July 2020 and were signed on its behalf by:

J A Green - Director

J C Guinnard - Director

1.	STATUTORY INFORMATION

Traders Coffee Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

at variable rates on reducing balance

Plant and machinery etc

-

25% on reducing balance and at variable rates on reducing balance

Stocks

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

moving items.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is

calculated using tax rates that have been enacted.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of

certain items for taxation and accounting purposes.

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.

Intangible assets and amortisation

Goodwill was acquired as part of the purchase of the company's business and a subsequent purchase at £45,000.

It will be amortised to the profit and loss account over its remaining useful economic life of ten years in

accordance with the provisions of FRS10.

Foreign currencies

In respect of monetary assets and liabilities at the balance sheet date, currencies are translated at year end rates of

exchange. Assets, liabilities, revenues and costs are recorded at the average rates of exchange ruling during the

year. All exchange differences arising are reported as part of the results of the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2019 - 18 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.1.20

31.1.19

£

£

Depreciation - owned assets

166,027

193,599

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2019

and 31 January 2020

95,000

AMORTISATION

At 1 February 2019

and 31 January 2020

95,000

NET BOOK VALUE

At 31 January 2020

-

At 31 January 2019

-

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 February 2019

753,195

1,217,344

1,970,539

Additions

-

141,197

141,197

Disposals

-

(47,614

)

(47,614

)

At 31 January 2020

753,195

1,310,927

2,064,122

DEPRECIATION

At 1 February 2019

125,246

600,644

725,890

Charge for year

12,559

153,468

166,027

Eliminated on disposal

-

(36,661

)

(36,661

)

At 31 January 2020

137,805

717,451

855,256

NET BOOK VALUE

At 31 January 2020

615,390

593,476

1,208,866

At 31 January 2019

627,949

616,700

1,244,649

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

214,168

225,617

Other debtors

56,932

58,102

271,100

283,719

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade creditors

64,015

113,224

Taxation and social security

71,404

27,566

Other creditors

199,934

212,485

335,353

353,275

9.	RELATED PARTY DISCLOSURES

Mr. J.A. Green is a director of the company and together with his late wife owns 100% of the issued share capital.

During the year, rentals of £21,150 (2019 - £20,520) were paid to Mr. Green

At the balance sheet date, a sum of £nil (2019 - £60,000) was due by the company to Mr. Green.

The company supplied substantial sales at arms length to The Coffee Bay Company Limited a company in which

Mr. Green is the sole director and shareholder.

The company supplied substantial sales at arms length to Jackson Green (Coffee) Limited a company in which

Mr. Green was the sole director and principal shareholder.

At the balance sheet date, a sum of £17,000 (2019 - £nil) was owed to the company by Jackson Green (Coffee)

Limited.