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REGISTERED NUMBER: 11911014 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SPICE N ICE LIMITED

SPICE N ICE LIMITED (REGISTERED NUMBER: 11911014)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPICE N ICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr N Patel





SECRETARY: Mr N Patel





REGISTERED OFFICE: 3-5 Southpark Hill Road
South Croydon
Surrey
CR2 7DY





REGISTERED NUMBER: 11911014 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certifed Accountants
Solar House
282 Chase Road
London
N14 6NZ

SPICE N ICE LIMITED (REGISTERED NUMBER: 11911014)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,126 7,309

CURRENT ASSETS
Stocks 5 5,828 3,715
Debtors 6 34,902 52,579
Cash at bank and in hand 13,009 21,006
53,739 77,300
CREDITORS
Amounts falling due within one year 7 46,605 68,122
NET CURRENT ASSETS 7,134 9,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,260

16,487

CREDITORS
Amounts falling due after more than one
year

8

9,968

14,200
NET ASSETS 6,292 2,287

CAPITAL AND RESERVES
Called up share capital 9 6 6
Retained earnings 6,286 2,281
SHAREHOLDERS' FUNDS 6,292 2,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SPICE N ICE LIMITED (REGISTERED NUMBER: 11911014)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 October 2023 and were signed by:





Mr N Patel - Director


SPICE N ICE LIMITED (REGISTERED NUMBER: 11911014)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Spice N Ice 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 represents amounts derived from the provision of services to customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Government grants
Government grants represents income received in the form of the Job Retention Scheme (JRS) from the Government during the COVID-19 pandemic. It also includes the first year of interest for the company on the Bounce Back Loan (BBL) it received during the year.

The grants are recognised on the accruals basis in the same period as the expenditure that it is intended to compensate.

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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

SPICE N ICE LIMITED (REGISTERED NUMBER: 11911014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 5,795 9,208 15,003
Additions 4,280 - 4,280
At 31 March 2023 10,075 9,208 19,283
DEPRECIATION
At 1 April 2022 2,742 4,952 7,694
Charge for year 1,972 491 2,463
At 31 March 2023 4,714 5,443 10,157
NET BOOK VALUE
At 31 March 2023 5,361 3,765 9,126
At 31 March 2022 3,053 4,256 7,309

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 5,828 3,715

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 2,928 27,020
Other debtors 390 390
Tax - 287
Accrued income & prepayments 31,584 24,882
34,902 52,579

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 4,213 4,119
Trade creditors - 5,797
Tax 513 3,363
Social security and other taxes 9,481 8,790
Net wages - 24,235
VAT 17,690 11,288
Amounts due to related party 3,000 -
Directors' current accounts 6,970 7,825
Accrued expenses 4,738 2,705
46,605 68,122

SPICE N ICE LIMITED (REGISTERED NUMBER: 11911014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 4,213 4,119
Bank loans - 2-5 years 5,755 10,081
9,968 14,200

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
6 Ordinary 1 6 6