The Cuba Mountain Coffee Company Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 08226621 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

THE CUBA MOUNTAIN COFFEE COMPANY LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Philip Oppenheim

Richard Templeton

David C Mathew

Charles Nigel Bromage

Peter De Bruyne

REGISTERED OFFICE:

208A Centaur Street

London

SE1 7EG

REGISTERED NUMBER:

08226621 (England and Wales)

FIXED ASSETS

Tangible assets

2

103,328

91,959

CURRENT ASSETS

Stocks

47,443

137,457

Debtors

37,713

18,809

Cash at bank

25,940

12,086

111,096

168,352

CREDITORS

Amounts falling due within one year

(122,613

)

(165,132

)

NET CURRENT (LIABILITIES)/ASSETS

(11,517

)

3,220

TOTAL ASSETS LESS CURRENT LIABILITIES

91,811

95,179

CAPITAL AND RESERVES

Called up share capital

3

1,642

1,039

Share premium

743,005

321,633

Profit and loss account

(652,836

)

(227,493

)

SHAREHOLDERS' FUNDS

91,811

95,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 February 2016 and were signed on its behalf by:

David C Mathew - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance and not provided

Stocks

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

moving items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

The financial statements have been prepared on a going concern basis which assumes the company will continue

in operational existence for the foreseeable future.

The company continues to make losses in the post balance sheet period however the directors are confident their

revised sales and marketing plan together with further product development and a reduction in the cost base will

see performance improve.

The company has raised a further £373,100 in share capital since the year end, continues to meet its debts as they

fall due and remains in a net asset position.

Whilst the directors acknowledge all the difficulties and uncertainties associated with introducing a new product

into the coffee market they are confident recent changes to business strategy will eventually see profits produced

and in the meantime continue to carefully manage the company's cash position. On this basis the directors believe

it is appropriate for the financial statements to be prepared on the going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

96,097

Additions

36,201

At 31 December 2014

132,298

DEPRECIATION

At 1 January 2014

4,138

Charge for year

24,832

At 31 December 2014

28,970

NET BOOK VALUE

At 31 December 2014

103,328

At 31 December 2013

91,959

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,642

Ordinary

£1

1,642

1,039

603 Ordinary shares of £1 each were allotted as fully paid at a premium of 697.792 per share during the year.

4.	ULTIMATE PARENT COMPANY

There is no controlling interest in the ordinary shares of the company.