SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2012

Accounting Policies

Significant Accounting Policies [Text Block]

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization – Barossa Coffee Company, Inc. (“Parent”) was organized under the laws of the State of Nevada on March 24, 2005.

Alchemy Coffee Company, Inc. (“Subsidiary”) was organized under the laws of the State of Utah on April 22, 2005 as a wholly-owned subsidiary of Parent.  In October 2006 the Parent and Subsidiary entered into an agreement to terminate their relationship.

Barossa Coffee Company, Inc. and Subsidiary (the “Company”) previously sold coffee beans and espresso related beverages.  The Company has not yet generated significant revenues from their planned principal operations and is considered a development stage company as defined in Accounting Standards Codification Topic 915.  The Company has, at the present time, not paid any dividends and any dividends that may be paid in the future will depend upon the financial requirements of the Company and other relevant factors.

Consolidation - The financial statements include the operations of Parent and its wholly-owned Subsidiary through September 30, 2006.  The operations of subsidiary were discontinued effective September 30, 2006.  All significant inter-company transactions have been eliminated in consolidation.

Condensed Financial Statements - The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31, 2012  have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s June 30, 2011 audited financial statements.  The results of operations for the period ended March 31, 2012 are not necessarily indicative of the operating results for the full year.