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REGISTERED NUMBER: SC033156 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Crolla Ice Cream Company Ltd

The Crolla Ice Cream Company Ltd (Registered number: SC033156)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Crolla Ice Cream Company Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Peter Alcide Crolla





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC033156 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 51,536 -
Tangible assets 5 610,963 420,219
Investments 6 43,812 -
706,311 420,219

CURRENT ASSETS
Stock 488,842 476,317
Debtors 7 888,638 825,015
Cash at bank and in hand 108,019 221,447
1,485,499 1,522,779
CREDITORS
Amounts falling due within one year 8 1,074,210 820,223
NET CURRENT ASSETS 411,289 702,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,117,600

1,122,775

CREDITORS
Amounts falling due after more than one
year

9

(356,237

)

(462,984

)

PROVISIONS FOR LIABILITIES 12 (116,873 ) (100,568 )
NET ASSETS 644,490 559,223

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Balance Sheet - continued
31 December 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 5 5
Capital redemption reserve 1,595 1,595
Fair value reserve 14 128,157 128,157
Retained earnings 514,733 429,466
SHAREHOLDERS' FUNDS 644,490 559,223

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 12 April 2024 and were signed by:





Peter Alcide Crolla - Director


The Crolla Ice Cream Company Ltd (Registered number: SC033156)

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

1. STATUTORY INFORMATION

The Crolla Ice Cream Company Ltd is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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 another Ice Cream business is being written off over 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10 to 25 % reducing balance
Fittings and equipment - 10% on reducing balance
Motor vehicles - 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.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.


The Crolla Ice Cream Company Ltd (Registered number: SC033156)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Fixed assets investments
These investments are stated at historical cost.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 25 ) .

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 57,262
At 31 December 2023 57,262
AMORTISATION
Amortisation for year 5,726
At 31 December 2023 5,726
NET BOOK VALUE
At 31 December 2023 51,536

5. TANGIBLE FIXED ASSETS
Fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 783,976 230,483 413,272 1,427,731
Additions 223,902 2,185 79,082 305,169
Disposals (14,067 ) - (166,300 ) (180,367 )
At 31 December 2023 993,811 232,668 326,054 1,552,533
DEPRECIATION
At 1 January 2023 572,408 160,280 274,824 1,007,512
Charge for year 30,651 7,238 47,514 85,403
Eliminated on disposal (10,444 ) - (140,901 ) (151,345 )
At 31 December 2023 592,615 167,518 181,437 941,570
NET BOOK VALUE
At 31 December 2023 401,196 65,150 144,617 610,963
At 31 December 2022 211,568 70,203 138,448 420,219

Cost or valuation at 31 December 2023 is represented by:

Fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
Cost 993,811 232,668 326,054 1,552,533

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 January 2023 123,882
Transfer to ownership (51,174 )
At 31 December 2023 72,708
DEPRECIATION
At 1 January 2023 38,550
Charge for year 13,824
Transfer to ownership (41,814 )
At 31 December 2023 10,560
NET BOOK VALUE
At 31 December 2023 62,148
At 31 December 2022 85,332

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
Additions 43,812
At 31 December 2023 43,812
NET BOOK VALUE
At 31 December 2023 43,812

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 462,367 471,094
Other debtors 426,271 353,921
888,638 825,015

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 120,000 120,000
Hire purchase contracts (see note 10) 98,773 48,840
Trade creditors 351,031 268,798
Taxation and social security 91,098 136,339
Other creditors 413,308 246,246
1,074,210 820,223

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 356,237 462,984

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 98,773 48,840

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 476,237 582,984

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 116,873 100,568

Deferred
tax
£   
Balance at 1 January 2023 100,568
Charge to Income Statement during year 16,305
Balance at 31 December 2023 116,873

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

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

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,500 Ordinary £1 5 5

14. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 128,157