Silverfin false false 31/07/2024 01/08/2023 31/07/2024 A D Walsh 01/08/2023 J S Walsh 11/06/2012 20 September 2024 The principal activity of the Company is the manufacture and sale of sugar confectionery. 08099851 2024-07-31 08099851 bus:Director1 2024-07-31 08099851 bus:Director2 2024-07-31 08099851 2023-07-31 08099851 core:CurrentFinancialInstruments 2024-07-31 08099851 core:CurrentFinancialInstruments 2023-07-31 08099851 core:ShareCapital 2024-07-31 08099851 core:ShareCapital 2023-07-31 08099851 core:RetainedEarningsAccumulatedLosses 2024-07-31 08099851 core:RetainedEarningsAccumulatedLosses 2023-07-31 08099851 core:Goodwill 2023-07-31 08099851 core:Goodwill 2024-07-31 08099851 core:LandBuildings 2023-07-31 08099851 core:FurnitureFittings 2023-07-31 08099851 core:OfficeEquipment 2023-07-31 08099851 core:LandBuildings 2024-07-31 08099851 core:FurnitureFittings 2024-07-31 08099851 core:OfficeEquipment 2024-07-31 08099851 2023-08-01 2024-07-31 08099851 bus:FilletedAccounts 2023-08-01 2024-07-31 08099851 bus:SmallEntities 2023-08-01 2024-07-31 08099851 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08099851 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08099851 bus:Director1 2023-08-01 2024-07-31 08099851 bus:Director2 2023-08-01 2024-07-31 08099851 core:Goodwill core:TopRangeValue 2023-08-01 2024-07-31 08099851 core:LandBuildings core:TopRangeValue 2023-08-01 2024-07-31 08099851 core:FurnitureFittings 2023-08-01 2024-07-31 08099851 core:OfficeEquipment 2023-08-01 2024-07-31 08099851 2022-08-01 2023-07-31 08099851 core:LandBuildings 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: 08099851 (England and Wales)

TRULY SCRUMPTIOUS (DORSET) LTD

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

TRULY SCRUMPTIOUS (DORSET) LTD

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

TRULY SCRUMPTIOUS (DORSET) LTD

BALANCE SHEET

As at 31 July 2024
TRULY SCRUMPTIOUS (DORSET) LTD

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 4,940 5,268
4,940 5,268
Current assets
Stocks 5 12,000 12,000
Debtors 6 6,922 5,732
Cash at bank and in hand 19,126 33,996
38,048 51,728
Creditors: amounts falling due within one year 7 ( 16,736) ( 19,692)
Net current assets 21,312 32,036
Total assets less current liabilities 26,252 37,304
Provision for liabilities ( 939) ( 1,001)
Net assets 25,313 36,303
Capital and reserves
Called-up share capital 1 1
Profit and loss account 25,312 36,302
Total shareholder's funds 25,313 36,303

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Truly Scrumptious (Dorset) Ltd (registered number: 08099851) were approved and authorised for issue by the Board of Directors on 20 September 2024. They were signed on its behalf by:

J S Walsh
Director
TRULY SCRUMPTIOUS (DORSET) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
TRULY SCRUMPTIOUS (DORSET) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Truly Scrumptious (Dorset) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 High Street, Poole, BH15 1AB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 8 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 8 years straight line
Fixtures and fittings 15 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2023 20,000 20,000
At 31 July 2024 20,000 20,000
Accumulated amortisation
At 01 August 2023 20,000 20,000
At 31 July 2024 20,000 20,000
Net book value
At 31 July 2024 0 0
At 31 July 2023 0 0

4. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 August 2023 10,000 15,662 203 25,865
Additions 0 0 581 581
At 31 July 2024 10,000 15,662 784 26,446
Accumulated depreciation
At 01 August 2023 10,000 10,541 56 20,597
Charge for the financial year 0 768 141 909
At 31 July 2024 10,000 11,309 197 21,506
Net book value
At 31 July 2024 0 4,353 587 4,940
At 31 July 2023 0 5,121 147 5,268

5. Stocks

2024 2023
£ £
Stocks 12,000 12,000

6. Debtors

2024 2023
£ £
Trade debtors 0 990
Other debtors 6,922 4,742
6,922 5,732

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 995 4,584
Taxation and social security 13,247 12,695
Other creditors 2,494 2,413
16,736 19,692

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Short term loan to directors 964 0

No interest has been charged on the overdrawn loan account.