Registered number
09115327
Fairclough's Ice Cream Ltd
Filleted Accounts
31 July 2023
Fairclough's Ice Cream Ltd
Registered number: 09115327
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,000 2,000
Tangible assets 4 9,451 18,320
10,451 20,320
Current assets
Stocks 2,500 2,500
Debtors 5 11,780 11,780
Cash at bank and in hand 38,518 51,733
52,798 66,013
Creditors: amounts falling due within one year 6 (16,920) (25,729)
Net current assets 35,878 40,284
Net assets 46,329 60,604
Capital and reserves
Called up share capital 100 100
Profit and loss account 46,229 60,504
Shareholders' funds 46,329 60,604
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Meola
Director
Approved by the board on 7 November 2023
Fairclough's Ice Cream Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 10,000
At 31 July 2023 10,000
Amortisation
At 1 August 2022 8,000
Provided during the year 1,000
At 31 July 2023 9,000
Net book value
At 31 July 2023 1,000
At 31 July 2022 2,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 6,000 42,000 48,000
Additions - 12,000 12,000
Disposals - (42,000) (42,000)
At 31 July 2023 6,000 12,000 18,000
Depreciation
At 1 August 2022 5,399 24,281 29,680
Charge for the year 150 3,000 3,150
On disposals - (24,281) (24,281)
At 31 July 2023 5,549 3,000 8,549
Net book value
At 31 July 2023 451 9,000 9,451
At 31 July 2022 601 17,719 18,320
5 Debtors 2023 2022
£ £
Prepayments 8,250 8,250
Other debtors 3,530 3,530
11,780 11,780
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,052 6,792
Accruals 876 695
Directors account 884 4,134
Other creditors 14,108 14,108
16,920 25,729
7 Other information
Fairclough's Ice Cream Ltd is a private company limited by shares and incorporated in England. Its registered office is:
17 Gravel Walks
Oldham
Lancachire
OL4 1JY
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