Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Mr M T Chrusciak 01/05/2016 Mr R M Rowse 01/09/2011 10 October 2024 The principal activity of the company during the financial year was that of manufacturing and selling ice cream. 07759564 2024-01-31 07759564 bus:Director1 2024-01-31 07759564 bus:Director2 2024-01-31 07759564 2023-01-31 07759564 core:CurrentFinancialInstruments 2024-01-31 07759564 core:CurrentFinancialInstruments 2023-01-31 07759564 core:Non-currentFinancialInstruments 2024-01-31 07759564 core:Non-currentFinancialInstruments 2023-01-31 07759564 core:ShareCapital 2024-01-31 07759564 core:ShareCapital 2023-01-31 07759564 core:RetainedEarningsAccumulatedLosses 2024-01-31 07759564 core:RetainedEarningsAccumulatedLosses 2023-01-31 07759564 core:Goodwill 2023-01-31 07759564 core:Goodwill 2024-01-31 07759564 core:LandBuildings 2023-01-31 07759564 core:PlantMachinery 2023-01-31 07759564 core:Vehicles 2023-01-31 07759564 core:FurnitureFittings 2023-01-31 07759564 core:OfficeEquipment 2023-01-31 07759564 core:LandBuildings 2024-01-31 07759564 core:PlantMachinery 2024-01-31 07759564 core:Vehicles 2024-01-31 07759564 core:FurnitureFittings 2024-01-31 07759564 core:OfficeEquipment 2024-01-31 07759564 bus:OrdinaryShareClass1 2024-01-31 07759564 2023-02-01 2024-01-31 07759564 bus:FilletedAccounts 2023-02-01 2024-01-31 07759564 bus:SmallEntities 2023-02-01 2024-01-31 07759564 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07759564 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07759564 bus:Director1 2023-02-01 2024-01-31 07759564 bus:Director2 2023-02-01 2024-01-31 07759564 core:Goodwill core:TopRangeValue 2023-02-01 2024-01-31 07759564 core:LandBuildings core:TopRangeValue 2023-02-01 2024-01-31 07759564 core:PlantMachinery core:TopRangeValue 2023-02-01 2024-01-31 07759564 core:Vehicles core:TopRangeValue 2023-02-01 2024-01-31 07759564 core:FurnitureFittings core:TopRangeValue 2023-02-01 2024-01-31 07759564 core:OfficeEquipment core:TopRangeValue 2023-02-01 2024-01-31 07759564 2022-02-01 2023-01-31 07759564 core:Goodwill 2023-02-01 2024-01-31 07759564 core:LandBuildings 2023-02-01 2024-01-31 07759564 core:PlantMachinery 2023-02-01 2024-01-31 07759564 core:Vehicles 2023-02-01 2024-01-31 07759564 core:FurnitureFittings 2023-02-01 2024-01-31 07759564 core:OfficeEquipment 2023-02-01 2024-01-31 07759564 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 07759564 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 07759564 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07759564 (England and Wales)

TRELEAVEN LUXURY CORNISH ICE CREAM LIMITED

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

TRELEAVEN LUXURY CORNISH ICE CREAM LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

TRELEAVEN LUXURY CORNISH ICE CREAM LIMITED

BALANCE SHEET

As at 31 January 2024
TRELEAVEN LUXURY CORNISH ICE CREAM LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 101,530 135,399
Tangible assets 4 112,648 133,902
214,178 269,301
Current assets
Stocks 5 192,740 197,691
Debtors 6 53,644 45,723
Cash at bank and in hand 7,013 882
253,397 244,296
Creditors: amounts falling due within one year 7 ( 2,442,408) ( 2,250,594)
Net current liabilities (2,189,011) (2,006,298)
Total assets less current liabilities (1,974,833) (1,736,997)
Creditors: amounts falling due after more than one year 8 ( 14,167) ( 24,167)
Net liabilities ( 1,989,000) ( 1,761,164)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 1,989,100 ) ( 1,761,264 )
Total shareholders' deficit ( 1,989,000) ( 1,761,164)

For the financial year ending 31 January 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 Treleaven Luxury Cornish Ice Cream Limited (registered number: 07759564) were approved and authorised for issue by the Board of Directors on 10 October 2024. They were signed on its behalf by:

Mr R M Rowse
Director
TRELEAVEN LUXURY CORNISH ICE CREAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
TRELEAVEN LUXURY CORNISH ICE CREAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 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

Treleaven Luxury Cornish Ice Cream Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in . The address of the Company's registered office is 4 St. Marys Arcade, Wallingford, Oxfordshire, OX10 0EY. The principal place of business is Tretoil Farm, Bodmin, PL30 5BA.

The financial statements have been prepared under the historical cost convention 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £1,989,000. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 15 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 and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 10 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line
Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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

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 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2023 507,787 507,787
At 31 January 2024 507,787 507,787
Accumulated amortisation
At 01 February 2023 372,388 372,388
Charge for the financial year 33,869 33,869
At 31 January 2024 406,257 406,257
Net book value
At 31 January 2024 101,530 101,530
At 31 January 2023 135,399 135,399

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 February 2023 178,794 603,885 60,644 35,495 83 878,901
Additions 0 9,282 0 4,335 914 14,531
At 31 January 2024 178,794 613,167 60,644 39,830 997 893,432
Accumulated depreciation
At 01 February 2023 124,995 552,374 33,281 34,338 11 744,999
Charge for the financial year 17,879 7,144 9,566 1,042 154 35,785
At 31 January 2024 142,874 559,518 42,847 35,380 165 780,784
Net book value
At 31 January 2024 35,920 53,649 17,797 4,450 832 112,648
At 31 January 2023 53,799 51,511 27,363 1,157 72 133,902

5. Stocks

2024 2023
£ £
Stocks 192,740 197,691

6. Debtors

2024 2023
£ £
Trade debtors 30,169 22,930
Amounts owed by Group undertakings 7,888 4,595
Other debtors 15,587 18,198
53,644 45,723

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 18,723 56,824
Amounts owed to Group undertakings 1,045,171 824,408
Other taxation and social security 2,976 0
Other creditors 1,365,538 1,359,362
2,442,408 2,250,594

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 14,167 24,167

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Ultimate controlling party

Parent Company:

The Camel's Back
4 St Mary's Arcade
Wallingford
Oxfordshire
OX10 0EY