FUSCO ICE CREAM (N.I.) LTD

Company Registration Number:
NI639752 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

FUSCO ICE CREAM (N.I.) LTD

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

FUSCO ICE CREAM (N.I.) LTD

Balance sheet

As at 31 July 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 14,902 19,159
Total fixed assets: 14,902 19,159
Current assets
Stocks: 4,705 4,640
Debtors:   4,671 4,205
Cash at bank and in hand: 11,422 7,545
Total current assets: 20,798 16,390
Creditors: amounts falling due within one year:   (23,708) (22,441)
Net current assets (liabilities): (2,910) (6,051)
Total assets less current liabilities: 11,992 13,108
Creditors: amounts falling due after more than one year:   (240) (4,646)
Total net assets (liabilities): 11,752 8,462
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 11,652 8,362
Shareholders funds: 11,752 8,462

The notes form part of these financial statements

FUSCO ICE CREAM (N.I.) LTD

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 March 2024
and signed on behalf of the board by:

Name: Darren Fusco
Status: Director

The notes form part of these financial statements

FUSCO ICE CREAM (N.I.) LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible fixed assets and depreciation policy

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful life as follows:Plant and machinery 25% reducing balanceFixtures and fittings 20% reducing balanceMotor vehicles 25% reducing balanceThe carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying values may not be recoverable.

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value. Stocks are determined in a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete or slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

FUSCO ICE CREAM (N.I.) LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

2023 2022
Average number of employees during the period 3 3

FUSCO ICE CREAM (N.I.) LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible Assets

Total
Cost £
At 01 August 2022 61,194
At 31 July 2023 61,194
Depreciation
At 01 August 2022 42,035
Charge for year 4,257
At 31 July 2023 46,292
Net book value
At 31 July 2023 14,902
At 31 July 2022 19,159