Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mrs E Green 20/12/2018 Mr R Green 16/12/2003 09 October 2023 The principal activity of the Company during the financial year is that of a licensed restaurant and bakery. 04997141 2023-04-30 04997141 bus:Director1 2023-04-30 04997141 bus:Director2 2023-04-30 04997141 2022-04-30 04997141 core:CurrentFinancialInstruments 2023-04-30 04997141 core:CurrentFinancialInstruments 2022-04-30 04997141 core:Non-currentFinancialInstruments 2023-04-30 04997141 core:Non-currentFinancialInstruments 2022-04-30 04997141 core:ShareCapital 2023-04-30 04997141 core:ShareCapital 2022-04-30 04997141 core:SharePremium 2023-04-30 04997141 core:SharePremium 2022-04-30 04997141 core:RetainedEarningsAccumulatedLosses 2023-04-30 04997141 core:RetainedEarningsAccumulatedLosses 2022-04-30 04997141 core:OtherResidualIntangibleAssets 2022-04-30 04997141 core:OtherResidualIntangibleAssets 2023-04-30 04997141 core:LeaseholdImprovements 2022-04-30 04997141 core:PlantMachinery 2022-04-30 04997141 core:Vehicles 2022-04-30 04997141 core:FurnitureFittings 2022-04-30 04997141 core:OtherPropertyPlantEquipment 2022-04-30 04997141 core:LeaseholdImprovements 2023-04-30 04997141 core:PlantMachinery 2023-04-30 04997141 core:Vehicles 2023-04-30 04997141 core:FurnitureFittings 2023-04-30 04997141 core:OtherPropertyPlantEquipment 2023-04-30 04997141 bus:OrdinaryShareClass1 2023-04-30 04997141 bus:OrdinaryShareClass2 2023-04-30 04997141 2022-05-01 2023-04-30 04997141 bus:FullAccounts 2022-05-01 2023-04-30 04997141 bus:SmallEntities 2022-05-01 2023-04-30 04997141 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 04997141 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04997141 bus:Director1 2022-05-01 2023-04-30 04997141 bus:Director2 2022-05-01 2023-04-30 04997141 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-05-01 2023-04-30 04997141 core:LeaseholdImprovements core:TopRangeValue 2022-05-01 2023-04-30 04997141 core:PlantMachinery 2022-05-01 2023-04-30 04997141 core:Vehicles 2022-05-01 2023-04-30 04997141 core:FurnitureFittings 2022-05-01 2023-04-30 04997141 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-05-01 2023-04-30 04997141 2021-05-01 2022-04-30 04997141 core:OtherResidualIntangibleAssets 2022-05-01 2023-04-30 04997141 core:LeaseholdImprovements 2022-05-01 2023-04-30 04997141 core:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 04997141 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 04997141 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 04997141 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 04997141 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 04997141 bus:OrdinaryShareClass2 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04997141 (England and Wales)

CEYLON 1 LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

CEYLON 1 LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

CEYLON 1 LIMITED

BALANCE SHEET

As at 30 April 2023
CEYLON 1 LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 24,588 25,970
Tangible assets 4 482,238 584,837
506,826 610,807
Current assets
Stocks 30,000 60,000
Debtors 5 163,052 124,001
Cash at bank and in hand 142,874 317,541
335,926 501,542
Creditors: amounts falling due within one year 6 ( 511,079) ( 422,894)
Net current (liabilities)/assets (175,153) 78,648
Total assets less current liabilities 331,673 689,455
Creditors: amounts falling due after more than one year 7 ( 25,780) ( 35,650)
Provision for liabilities ( 60,582) ( 101,408)
Net assets 245,311 552,397
Capital and reserves
Called-up share capital 8 100 100
Share premium account 7,326 7,326
Profit and loss account 237,885 544,971
Total shareholders' funds 245,311 552,397

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ceylon 1 Limited (registered number: 04997141) were approved and authorised for issue by the Board of Directors on 09 October 2023. They were signed on its behalf by:

Mr R Green
Director
CEYLON 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
CEYLON 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ceylon 1 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is The Pavilion Cafe, Crown Gate West, Victoria Park, London, E9 7DE, England.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Other property, plant and equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is determined using the first in, first out (FIFO) method.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 81 75

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 May 2022 27,654 27,654
At 30 April 2023 27,654 27,654
Accumulated amortisation
At 01 May 2022 1,684 1,684
Charge for the financial year 1,382 1,382
At 30 April 2023 3,066 3,066
Net book value
At 30 April 2023 24,588 24,588
At 30 April 2022 25,970 25,970

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £ £
Cost
At 01 May 2022 385,069 844,206 84,657 342,682 29,940 1,686,554
Additions 27,461 31,698 20,968 13,390 0 93,517
At 30 April 2023 412,530 875,904 105,625 356,072 29,940 1,780,071
Accumulated depreciation
At 01 May 2022 222,087 611,739 58,778 181,378 27,735 1,101,717
Charge for the financial year 80,273 63,004 9,965 42,201 673 196,116
At 30 April 2023 302,360 674,743 68,743 223,579 28,408 1,297,833
Net book value
At 30 April 2023 110,170 201,161 36,882 132,493 1,532 482,238
At 30 April 2022 162,982 232,467 25,879 161,304 2,205 584,837

5. Debtors

2023 2022
£ £
Trade debtors 6,094 1,755
Other debtors 156,958 122,246
163,052 124,001

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,871 9,626
Trade creditors 215,245 132,481
Corporation tax 892 30,490
Other taxation and social security 127,489 80,358
Other creditors 157,582 169,939
511,079 422,894

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 25,780 35,650

The bank loans are secured against the assets of the Company.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50,000 Ordinary A shares of £ 0.001 each 50 50
50,000 Ordinary B shares of £ 0.001 each 50 50
100 100