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REGISTERED NUMBER: 04008733 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

The Cornish Cheese Company Limited

The Cornish Cheese Company Limited (Registered number: 04008733)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

The Cornish Cheese Company Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: S P Stansfield





SECRETARY: Mrs C Stansfield





REGISTERED OFFICE: Knowle Farm
Upton Cross
Liskeard
Cornwall
PL14 5BG





REGISTERED NUMBER: 04008733 (England and Wales)





ACCOUNTANTS: Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR

The Cornish Cheese Company Limited (Registered number: 04008733)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 383,771 390,574

CURRENT ASSETS
Stocks 117,969 156,552
Debtors 5 150,947 98,889
Cash at bank and in hand 59,230 109
328,146 255,550
CREDITORS
Amounts falling due within one year 6 404,306 360,242
NET CURRENT LIABILITIES (76,160 ) (104,692 )
TOTAL ASSETS LESS CURRENT LIABILITIES 307,611 285,882

CREDITORS
Amounts falling due after more than one
year

7

(238,846

)

(259,472

)

PROVISIONS FOR LIABILITIES (83,377 ) (79,847 )

ACCRUALS AND DEFERRED INCOME (132,865 ) (141,234 )
NET LIABILITIES (147,477 ) (194,671 )

CAPITAL AND RESERVES
Called up share capital 51 51
Retained earnings (147,528 ) (194,722 )
(147,477 ) (194,671 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 Cornish Cheese Company Limited (Registered number: 04008733)

Balance Sheet - continued
31 January 2024


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 15 April 2024 and were signed by:





S P Stansfield - Director


The Cornish Cheese Company Limited (Registered number: 04008733)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

The Cornish Cheese 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.

Significant judgements and estimates
The director has conducted a review of the useful lives of fixed assets. Following this review, depreciation estimates have been adjusted from 1 February 2023.

The result of this change increased the value of the fixed assets at the balance sheet date by £20,941, with the same reduction in depreciation charge on the profit and loss account.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 5% on cost
Plant and machinery etc - 15% 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 Cornish Cheese Company Limited (Registered number: 04008733)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 627,756 413,966 1,041,722
Additions - 53,523 53,523
At 31 January 2024 627,756 467,489 1,095,245
DEPRECIATION
At 1 February 2023 381,564 269,584 651,148
Charge for year 30,638 29,688 60,326
At 31 January 2024 412,202 299,272 711,474
NET BOOK VALUE
At 31 January 2024 215,554 168,217 383,771
At 31 January 2023 246,192 144,382 390,574

The Cornish Cheese Company Limited (Registered number: 04008733)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023 40,920
Additions 42,262
At 31 January 2024 83,182
DEPRECIATION
At 1 February 2023 9,548
Charge for year 11,045
At 31 January 2024 20,593
NET BOOK VALUE
At 31 January 2024 62,589
At 31 January 2023 31,372

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 94,117 81,644
Other debtors 56,830 17,245
150,947 98,889

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 32,000 39,993
Hire purchase contracts 21,199 13,640
Trade creditors 87,258 73,276
Taxation and social security 4,776 1,839
Other creditors 259,073 231,494
404,306 360,242

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 31,173 21,546
Other creditors 207,673 237,926
238,846 259,472

The Cornish Cheese Company Limited (Registered number: 04008733)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
National Westminster Bank PLC 215,650 237,720

A specific equitable charge over all freehold and leasehold properties and/or the proceeds of sale thereof fixed and floating charges over undertaking and all property and assets present and future including goodwill book debts and the benefits of any licences. The shareholders have provided a personal guarantee up to the sum of £485,000.

9. RELATED PARTY DISCLOSURES

As at the 31 January 2024, included within other creditors, the company owed the director £124,310 (2023 £105,934). This loan is currently interest free and is repayable on demand.

The director is a partner in Knowle Farm Partnership and at the end of the year the company owed the partnership Nil (2023 £6,631). The company also had transactions with Knowle Farm Partnership during the year totalling £10,254 (2023 £11,217).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S P Stansfield.

S P Stansfield, by virtue of his shareholding and directorship, controls the company.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
The Cornish Cheese Company Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Cornish Cheese Company Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Cornish Cheese Company Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Cornish Cheese Company Limited and state those matters that we have agreed to state to the director of The Cornish Cheese Company Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Cornish Cheese Company Limited and its director for our work or for this report.

It is your duty to ensure that The Cornish Cheese Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Cornish Cheese Company Limited. You consider that The Cornish Cheese Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Cornish Cheese Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts
9 Western Road
Launceston
Cornwall
PL15 7AR


15 April 2024