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REGISTERED NUMBER: 08336306 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

The Red Boat (Ice Cream Parlour) Limited

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


The Red Boat (Ice Cream Parlour) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs L Green
A Green





SECRETARY:





REGISTERED OFFICE: 8A Chester Street
Mold
Flintshire
CH7 1EG





REGISTERED NUMBER: 08336306 (England and Wales)





ACCOUNTANTS: Cyfrifwyr Hill & Roberts
8a Chester Street
Mold
Flintshire
CH7 1EG

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,321
Tangible assets 5 276,510 317,866
276,510 321,187

CURRENT ASSETS
Stocks 72,405 71,000
Debtors 6 125,505 41,190
Cash at bank and in hand 15,904 5,735
213,814 117,925
CREDITORS
Amounts falling due within one year 7 348,707 156,183
NET CURRENT LIABILITIES (134,893 ) (38,258 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,617

282,929

CREDITORS
Amounts falling due after more than
one year

8

493,466

535,569
NET LIABILITIES (351,849 ) (252,640 )

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Statement of Financial Position - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (351,949 ) (252,740 )
SHAREHOLDERS' FUNDS (351,849 ) (252,640 )

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 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 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 Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





A Green - Director


The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

The Red Boat (Ice Cream Parlour) 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.

Turnover
The company turnover is recognised on retail to the public of ice cream products made on the company premises, and from the delivery of a restaurant service, also from the trading premises. Turnover excludes the effects of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The directors are satisfied that the company can continue to meet its day to day financial responsibilities with the continuing support of the company bankers and from personal funds.The going concern basis for the preparation of the accounts is therefore appropriate.

Government grants
In accordance with GAAP, Government Grants for the acquisition of capital equipment to assist in the business expansion, are credited to deferred income and are released to profit and loss account over the estimated useful life of the assets purchased.

The assets involved are being depreciated at 20% on cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 35 ) .

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022 33,215
Disposals (33,215 )
At 31 March 2023 -
AMORTISATION
At 1 April 2022 29,894
Eliminated on disposal (29,894 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 3,321

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 139,184 555,831 32,145
Additions - 34,525 -
Disposals (24,747 ) (159,287 ) (27,033 )
At 31 March 2023 114,437 431,069 5,112
DEPRECIATION
At 1 April 2022 50,956 353,698 19,685
Charge for year 11,444 84,388 1,279
Eliminated on disposal (17,323 ) (148,480 ) (16,052 )
At 31 March 2023 45,077 289,606 4,912
NET BOOK VALUE
At 31 March 2023 69,360 141,463 200
At 31 March 2022 88,228 202,133 12,460

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 34,214 7,499 768,873
Additions 80,430 1,291 116,246
Disposals (34,214 ) (6,644 ) (251,925 )
At 31 March 2023 80,430 2,146 633,194
DEPRECIATION
At 1 April 2022 20,528 6,140 451,007
Charge for year 16,086 536 113,733
Eliminated on disposal (20,528 ) (5,673 ) (208,056 )
At 31 March 2023 16,086 1,003 356,684
NET BOOK VALUE
At 31 March 2023 64,344 1,143 276,510
At 31 March 2022 13,686 1,359 317,866

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 208,335 1,797 - 210,132
Additions 26,215 - 80,430 106,645
Disposals (50,405 ) (1,797 ) - (52,202 )
At 31 March 2023 184,145 - 80,430 264,575
DEPRECIATION
At 1 April 2022 113,236 1,797 - 115,033
Charge for year 36,830 - 16,086 52,916
Eliminated on disposal (42,600 ) (1,797 ) - (44,397 )
At 31 March 2023 107,466 - 16,086 123,552
NET BOOK VALUE
At 31 March 2023 76,679 - 64,344 141,023
At 31 March 2022 95,099 - - 95,099

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 20,454 16,178
Tax 2,247 2,247
VAT - 2,463
Prepayments 5,003 20,302
Deferred Income 97,801 -
125,505 41,190

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other loans (see note 9) 45,040 45,040
Hire purchase contracts 50,840 36,392
Trade creditors 36,614 45,598
Social security and other taxes 2,750 3,743
Pension Accrual 355 -
VAT 9,676 -
Other creditors 1,284 5,734
Directors' current accounts 192,540 11,318
Accrued expenses 9,608 8,358
348,707 156,183

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Other loans (see note 9) 331,077 384,975
Hire purchase contracts 142,658 111,133
Deferred government grants 19,731 39,461
493,466 535,569

9. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Other loans 45,040 45,040

Amounts falling due between two and five years:
Other loans - 1-5 years 331,077 384,975

The Red Boat (Ice Cream Parlour) Limited (Registered number: 08336306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
A Green and Mrs L Green
Balance outstanding at start of year (11,317 ) 6,914
Amounts advanced (250,000 ) (23,242 )
Amounts repaid 68,921 5,011
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (192,396 ) (11,317 )