IRIS Accounts Production v24.1.0.578 04586626 director 1.12.22 30.11.23 30.11.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045866262022-11-30045866262023-11-30045866262022-12-012023-11-30045866262021-11-30045866262021-12-012022-11-30045866262022-11-3004586626ns15:EnglandWales2022-12-012023-11-3004586626ns14:PoundSterling2022-12-012023-11-3004586626ns10:Director12022-12-012023-11-3004586626ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3004586626ns10:SmallEntities2022-12-012023-11-3004586626ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3004586626ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3004586626ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3004586626ns10:FullAccounts2022-12-012023-11-300458662612022-12-012023-11-3004586626ns10:CompanySecretary12022-12-012023-11-3004586626ns10:RegisteredOffice2022-12-012023-11-3004586626ns5:CurrentFinancialInstruments2023-11-3004586626ns5:CurrentFinancialInstruments2022-11-3004586626ns5:ShareCapital2023-11-3004586626ns5:ShareCapital2022-11-3004586626ns5:RetainedEarningsAccumulatedLosses2023-11-3004586626ns5:RetainedEarningsAccumulatedLosses2022-11-3004586626ns5:NetGoodwill2022-12-012023-11-3004586626ns5:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3004586626ns5:PlantMachinery2022-12-012023-11-3004586626ns5:NetGoodwill2022-11-3004586626ns5:NetGoodwill2023-11-3004586626ns5:NetGoodwill2022-11-3004586626ns5:PlantMachinery2022-11-3004586626ns5:ComputerEquipment2022-11-3004586626ns5:ComputerEquipment2022-12-012023-11-3004586626ns5:PlantMachinery2023-11-3004586626ns5:ComputerEquipment2023-11-3004586626ns5:PlantMachinery2022-11-3004586626ns5:ComputerEquipment2022-11-3004586626ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3004586626ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-30045866261ns10:Director12022-11-30045866261ns10:Director12021-11-30045866261ns10:Director12022-12-012023-11-30045866261ns10:Director12021-12-012022-11-30045866261ns10:Director12023-11-30045866261ns10:Director12022-11-30
REGISTERED NUMBER: 04586626 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

The Volcanic Chimney Company Limited

The Volcanic Chimney Company Limited (Registered number: 04586626)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Volcanic Chimney Company Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: K Mitchell





SECRETARY: M O Mitchell





REGISTERED OFFICE: The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN





REGISTERED NUMBER: 04586626 (England and Wales)





ACCOUNTANTS: Ashmole & Co.
Chartered Certified Accountants
The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN

The Volcanic Chimney Company Limited (Registered number: 04586626)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,444 6,661
5,444 6,661

CURRENT ASSETS
Stocks 18,740 24,407
Debtors 6 20,605 448
Cash at bank 15,797 38,001
55,142 62,856
CREDITORS
Amounts falling due within one year 7 46,876 44,941
NET CURRENT ASSETS 8,266 17,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,710

24,576

PROVISIONS FOR LIABILITIES 1,031 1,481
NET ASSETS 12,679 23,095

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 12,678 23,094
SHAREHOLDERS' FUNDS 12,679 23,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

The Volcanic Chimney Company Limited (Registered number: 04586626)

Balance Sheet - continued
30 November 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2024 and were signed by:





K Mitchell - Director


The Volcanic Chimney Company Limited (Registered number: 04586626)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

The Volcanic Chimney 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.

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 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 2002, is being amortised evenly over its estimated useful life of five 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 each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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 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.

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 year 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.

The Volcanic Chimney Company Limited (Registered number: 04586626)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 15,000
AMORTISATION
At 1 December 2022
and 30 November 2023 15,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 December 2022 46,826 4,250 51,076
Additions 765 - 765
Disposals - (200 ) (200 )
At 30 November 2023 47,591 4,050 51,641
DEPRECIATION
At 1 December 2022 40,682 3,733 44,415
Charge for year 1,724 426 2,150
Eliminated on disposal - (368 ) (368 )
At 30 November 2023 42,406 3,791 46,197
NET BOOK VALUE
At 30 November 2023 5,185 259 5,444
At 30 November 2022 6,144 517 6,661

The Volcanic Chimney Company Limited (Registered number: 04586626)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 19,383 448
Other debtors 1,222 -
20,605 448

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 692 68
Taxation and social security 951 1,554
Other creditors 45,233 43,319
46,876 44,941

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
K Mitchell
Balance outstanding at start of year (42,369 ) (34,826 )
Amounts advanced 12,461 -
Amounts repaid (10,598 ) (7,543 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (40,506 ) (42,369 )

9. ULTIMATE CONTROLLING PARTY

The controlling party is K Mitchell.