| My Coffee & Company Limited |
|
| Report to the directors on the preparation of the unaudited abbreviated accounts of My Coffee & Company Limited for the period ended 31 March 2014 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of My Coffee & Company Limited for the period ended 31 March 2014 which comprise of the balance sheet 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
http://rulebook.accaglobal.com/ |
| Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. |
|
| DJ Coulter & Associates Limited |
| Chartered Certified Accountants |
| 7 Clarence Parade |
|
| Cheltenham |
|
| GL50 3NY |
|
| 10 December 2014 |
|
| My Coffee & Company Limited |
| Registered number: |
08439260 |
| Abbreviated Balance Sheet |
| as at 31 March 2014 |
|
| Notes |
|
|
2014 |
|
| £ |
|
| Fixed assets |
| Intangible assets |
2 |
|
|
- |
| Tangible assets |
3 |
|
|
28,911 |
| Investments |
4 |
|
|
- |
|
|
|
|
28,911 |
|
|
| Current assets |
| Stocks |
|
|
3,480 |
| Debtors |
5 |
|
1,687 |
| Investments held as current assets |
|
|
- |
| Cash at bank and in hand |
|
|
- |
|
|
|
5,167 |
|
|
|
| Creditors: amounts falling due within one year |
|
|
(65,530) |
|
| Net current liabilities |
|
|
|
(60,363) |
|
|
| Total assets less current liabilities |
|
|
|
(31,452) |
|
|
| Creditors: amounts falling due after more than one year |
|
|
|
(20,164) |
|
| Provisions for liabilities |
|
|
|
- |
|
|
| Net liabilities |
|
|
|
(51,616) |
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
7 |
|
|
3 |
| Share premium |
|
|
|
- |
| Revaluation reserve |
|
|
|
- |
| Capital redemption reserve |
|
|
|
- |
| Profit and loss account |
|
|
|
(51,619) |
|
| Shareholders' funds |
|
|
|
(51,616) |
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Andrew Coulter |
| Director |
| Approved by the board on 10 December 2014 |
|
| My Coffee & Company Limited |
| Notes to the Abbreviated Accounts |
| for the period ended 31 March 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
25% reducing balance |
|
Leasehold property improvements |
straight line over the lease term |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Leasing and hire purchase commitments |
|
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 11 March 2013 |
- |
|
Additions |
- |
|
Disposals |
- |
|
At 31 March 2014 |
- |
|
|
|
|
|
|
|
|
Amortisation |
|
At 11 March 2013 |
- |
|
Provided during the period |
- |
|
On disposals |
- |
|
At 31 March 2014 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2014 |
- |
|
At 10 March 2013 |
- |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 11 March 2013 |
- |
|
Additions |
35,682 |
|
Surplus on revaluation |
- |
|
Disposals |
- |
|
At 31 March 2014 |
35,682 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 11 March 2013 |
- |
|
Charge for the period |
6,771 |
|
Surplus on revaluation |
- |
|
On disposals |
- |
|
At 31 March 2014 |
6,771 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2014 |
28,911 |
|
At 10 March 2013 |
- |
|
|
|
|
|
|
|
|
| 4 |
Investments |
£ |
|
|
Cost |
|
At 11 March 2013 |
- |
|
Additions |
- |
|
Disposals |
- |
|
|
At 31 March 2014 |
- |
|
|
|
|
|
|
|
|
The company holds 20% or more of the share capital of the following companies: |
|
| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
|
|
Class |
% |
£ |
£ |
|
[Company name 1] |
Ordinary |
- |
|
- |
|
- |
|
[Company name 2] |
Ordinary |
- |
|
- |
|
- |
|
[Company name 3] |
Ordinary |
- |
|
- |
|
- |
|
[Company name 4] |
Ordinary |
- |
|
- |
|
- |
|
| 5 |
Debtors |
2014 |
|
| £ |
|
|
Debtors include: |
|
|
Amounts due after more than one year |
- |
|
|
|
|
|
|
|
|
|
| 6 |
Loans |
2014 |
|
| £ |
|
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
- |
|
Secured bank loans |
- |
|
|
|
|
|
|
|
|
|
|
| 7 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
| value |
Number |
£ |
|
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
3 |
|
3 |
|
B Ordinary shares |
£1 each |
|
- |
|
- |
|
|
|
|
|
|
3 |
|
|
? Preference shares |
£1 each |
|
- |
|
- |
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
|
|
| Nominal |
Number |
Amount |
| value |
£ |
|
Shares issued during the period: |
|
Ordinary shares |
£1 each |
|
3 |
|
3 |
|
B Ordinary shares |
£1 each |
|
- |
|
- |
|
|
|
|
|
|
3 |
|
? Preference shares |
£1 each |
|
- |
|
- |
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
|
| 8 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Andrew Coulter |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
Deborah Coulter |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
Jeffrey Whiteley |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
[Director 4] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
[Director 5] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
[Director 6] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
[Director 7] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
[Director 8] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
[Director 9] |
|
[Loan 1] |
- |
|
- |
|
- |
|
- |
|
[Loan 2] |
- |
|
- |
|
- |
|
- |
|
|
|
- |
|
- |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 9 |
Guarantees made by the company on behalf of directors |
|
Description and terms |
Maximum |
Amount paid |
| liability |
and incurred |
| £ |
£ |
|
Andrew Coulter |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
Deborah Coulter |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
Jeffrey Whiteley |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
[Director 4] |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
[Director 5] |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
[Director 6] |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
[Director 7] |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
[Director 8] |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
[Director 9] |
|
[Guarantee 1] |
|
- |
|
- |
|
[Guarantee 2] |
|
- |
|
- |
|
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
