Registered number
11780815
Ritual Cacao Ltd
Report and Accounts
31 January 2024
Ritual Cacao Ltd
Profit and Loss Account
for the year ended 31 January 2024
2024 2023
£ £
Turnover 224,253 166,049
Cost of sales (63,150) (59,163)
Gross profit 161,103 106,886
Administrative expenses (131,382) (126,724)
Operating profit 29,721 (19,838)
Interest payable (1,377) (1,059)
Profit before taxation 28,344 (20,897)
Tax on profit /(loss) - -
Profit for the period 28,344 (20,897)
Ritual Cacao Ltd
Registered number: 11780815
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 840 133
Tangible assets 4 7,254 9,059
8,094 9,192
Current assets
Stocks 24,546 4,191
Debtors 5 2,853 1,735
Cash at bank and in hand 28,132 20,251
55,531 26,177
Creditors: amounts falling due within one year 6 (26,440) (14,424)
Net current liabilities 29,091 11,753
Total assets less current liabilities 37,185 20,945
Creditors: amounts falling due after more than one year 7 (17,651) (29,755)
Net liabilities 19,534 (8,810)
Capital and reserves
Called up share capital 1 1
Profit and loss account 19,533 (8,811)
Shareholder's funds 19,534 (8,810)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rebekah Shaman
Director
Approved by the board on 25 July 2024
Ritual Cacao Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Intellectual Property
Cost
At 1 February 2023 340
Additions 830
At 31 January 2024 1,170
Amortisation
At 1 February 2023 207
Provided during the year 123
At 31 January 2024 330
Net book value
At 31 January 2024 840
At 31 January 2023 133
Intangible asset is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 11,545
Additions 1,070
At 31 January 2024 12,615
Depreciation
At 1 February 2023 2,486
Charge for the year 2,875
At 31 January 2024 5,361
Net book value
At 31 January 2024 7,254
At 31 January 2023 9,059
5 Debtors 2024 2023
£ £
Trade debtors 2,853 1,470
Other debtors - 265
2,853 1,735
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,000 4,000
Trade creditors 5,299 2,307
Taxation and social security costs 2,184 (505)
Other creditors 12,957 8,622
26,440 14,424
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,651 29,755
8 Other information
Ritual Cacao Ltd is a private company limited by shares and incorporated in England. Its registered office is:
47 Brailsford Road
Flat 1
London
SW2 2TB
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