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REGISTERED NUMBER: 02664797 (England and Wales)




















Unaudited Financial Statements

for the Period 1 February 2021 to 6 April 2022

for

The Cheddar Gorge Cheese Company Limited

The Cheddar Gorge Cheese Company Limited (Registered number: 02664797)






Contents of the Financial Statements
for the Period 1 February 2021 to 6 April 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Cheddar Gorge Cheese Company Limited

Company Information
for the Period 1 February 2021 to 6 April 2022







DIRECTORS: Mr R A Rhodes
Mrs A S Rhodes





SECRETARY: Mrs A S Rhodes





REGISTERED OFFICE: The Cliffs
Cheddar
Somerset
BS27 3QA





REGISTERED NUMBER: 02664797 (England and Wales)

The Cheddar Gorge Cheese Company Limited (Registered number: 02664797)

Balance Sheet
6 April 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,275
Tangible assets 5 741,719 585,673
Investment property 6 467,643 577,200
1,209,362 1,164,148

CURRENT ASSETS
Stocks 495,131 474,052
Debtors 7 45,750 38,168
Cash at bank and in hand 318,276 128,003
859,157 640,223
CREDITORS
Amounts falling due within one year 8 191,964 119,572
NET CURRENT ASSETS 667,193 520,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,876,555

1,684,799

CREDITORS
Amounts falling due after more than one
year

9

-

(57,774

)

PROVISIONS FOR LIABILITIES (3,331 ) (3,434 )
NET ASSETS 1,873,224 1,623,591

CAPITAL AND RESERVES
Called up share capital 11 125 125
Revaluation reserve 170,482 -
Retained earnings 1,702,617 1,623,466
SHAREHOLDERS' FUNDS 1,873,224 1,623,591

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 6 April 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 6 April 2022 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 Cheddar Gorge Cheese Company Limited (Registered number: 02664797)

Balance Sheet - continued
6 April 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2022 and were signed on its behalf by:





Mr R A Rhodes - Director


The Cheddar Gorge Cheese Company Limited (Registered number: 02664797)

Notes to the Financial Statements
for the Period 1 February 2021 to 6 April 2022

1. STATUTORY INFORMATION

The Cheddar Gorge Cheese Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going Concern
The financial statements have been prepared on a going concern basis as the directors have considered the material uncertainties that the COVID-19 pandemic has had on the business, have acted accordingly, and are satisfied that sufficient measures have been taken so that the accounts can continue to be prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was being amortised evenly over its estimated useful life of eight years.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on straight line basis
Plant and machinery - 20% on straight line basis and 15% on straight line basis
Fixtures and fittings - 20% on straight line basis and 15% on reducing balance
Motor vehicles - 33% on straight line basis
Computer equipment - 33% on straight line basis

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


The Cheddar Gorge Cheese Company Limited (Registered number: 02664797)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 6 April 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 50 (2021 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2021
and 6 April 2022 150,000 3,825 153,825
AMORTISATION
At 1 February 2021 150,000 2,550 152,550
Charge for period - 1,275 1,275
At 6 April 2022 150,000 3,825 153,825
NET BOOK VALUE
At 6 April 2022 - - -
At 31 January 2021 - 1,275 1,275

The Cheddar Gorge Cheese Company Limited (Registered number: 02664797)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 6 April 2022

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 February 2021 622,800 21,315 240,131
Additions - - -
Disposals - - -
Revaluations 170,482 - -
At 6 April 2022 793,282 21,315 240,131
DEPRECIATION
At 1 February 2021 62,310 4,753 234,050
Charge for period 14,674 503 2,718
Eliminated on disposal - - -
At 6 April 2022 76,984 5,256 236,768
NET BOOK VALUE
At 6 April 2022 716,298 16,059 3,363
At 31 January 2021 560,490 16,562 6,081

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2021 57,559 5,100 12,512 959,417
Additions - 9,250 - 9,250
Disposals - (5,100 ) - (5,100 )
Revaluations - - - 170,482
At 6 April 2022 57,559 9,250 12,512 1,134,049
DEPRECIATION
At 1 February 2021 55,640 5,049 11,942 373,744
Charge for period 1,813 3,596 331 23,635
Eliminated on disposal - (5,049 ) - (5,049 )
At 6 April 2022 57,453 3,596 12,273 392,330
NET BOOK VALUE
At 6 April 2022 106 5,654 239 741,719
At 31 January 2021 1,919 51 570 585,673

Cost or valuation at 6 April 2022 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2017 70,218 - -
Valuation in 2022 170,482 - -
Cost 552,582 21,315 240,131
793,282 21,315 240,131

The Cheddar Gorge Cheese Company Limited (Registered number: 02664797)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 6 April 2022

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2017 - - - 70,218
Valuation in 2022 - - - 170,482
Cost 57,559 9,250 12,512 893,349
57,559 9,250 12,512 1,134,049

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2021 577,200
Revaluations (109,557 )
At 6 April 2022 467,643
NET BOOK VALUE
At 6 April 2022 467,643
At 31 January 2021 577,200

Fair value at 6 April 2022 is represented by:
£   
Valuation in 2017 65,077
Valuation in 2022 (109,557 )
Cost 512,123
467,643

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 32,789 21,968
Other debtors 4,008 15,457
Prepayments 8,953 743
45,750 38,168

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 23,132
Trade creditors 59,220 32,622
Taxation and social security 60,226 53,323
Other creditors 72,518 10,495
191,964 119,572

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 57,774

The Cheddar Gorge Cheese Company Limited (Registered number: 02664797)

Notes to the Financial Statements - continued
for the Period 1 February 2021 to 6 April 2022

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans - 80,906

Bank loans are secured by a first legal charge over the company's investment property.

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
125 Ordinary 1 125 125