DART MOUNTAIN CHEESE LTD.

Company Registration Number:
NI628506 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

DART MOUNTAIN CHEESE LTD.

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Additional notes
Balance sheet notes

DART MOUNTAIN CHEESE LTD.

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 375,411 314,597
Total fixed assets: 375,411 314,597
Current assets
Stocks: 4 1,751 2,461
Debtors: 5 15,399 36,025
Cash at bank and in hand: 3,642 44,732
Total current assets: 20,792 83,218
Creditors: amounts falling due within one year: 6 ( 353,123 ) ( 342,537 )
Net current assets (liabilities): (332,331) (259,319)
Total assets less current liabilities: 43,080 55,278
Creditors: amounts falling due after more than one year: 7 ( 52,991 ) ( 42,944 )
Total net assets (liabilities): (9,911) 12,334
Capital and reserves
Called up share capital: 25 25
Profit and loss account: (9,936 ) 12,309
Total Shareholders' funds: ( 9,911 ) 12,334

The notes form part of these financial statements

DART MOUNTAIN CHEESE LTD.

Balance sheet statements

For the year ending 31 January 2024 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.

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

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

This report was approved by the board of directors on 21 October 2024
and signed on behalf of the board by:

Name: Kevin Hickey
Status: Director

The notes form part of these financial statements

DART MOUNTAIN CHEESE LTD.

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Turnover policy

    Turnover is measured at the fair value of the consideration receivable net of VAT and discounts. The policy adopted for the recognition of turnover is as follows: Sale of goods Revenue from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer and the amount of turnover can be measured reliably and it is probable the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods to the customer.

    Tangible fixed assets depreciation policy

    Tangible assets 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 tangible assets, less their estimated residual value, over their expected useful lives as follows: Land and buildings freehold - 2% Straight line IT hardware, software and website - 2% Straight line Plant and machinery - 10% Straight line Fixtures, fittings and equipment - 12.5% Straight line Motor vehicles - 20% Reducing balance IT hardware, software and website - 25% Straight line At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimated the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current markets assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the Statement of Income and Retained Earnings, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the Statement of Income and Retained Earnings, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

    Other accounting policies

    Leasing and hire purchases Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Statement of Income and Retained Earnings. Stocks Stocks are valued at the lower of cost and net realisable value. Stocks are determined on 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 out of date and 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. 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. Borrowing costs Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred. 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. Employee benefits When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Taxation The charge for taxation is based on the results for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Provision is made at the rates expected to apply when the timing differences reverse. Timing differences are differences between the companys taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in taxable profits in periods different from those in which they are recognised in the financial statements.

DART MOUNTAIN CHEESE LTD.

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

DART MOUNTAIN CHEESE LTD.

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 292,652 57,526 21,001 3,730 9,610 384,519
Additions 47,973 9,017 170 0 23,735 80,895
Disposals 0 0 0 0 ( 9,610 ) ( 9,610 )
Revaluations
Transfers
At 31 January 2024 340,625 66,543 21,171 3,730 23,735 455,804
Depreciation
At 1 February 2023 20,779 20,984 15,749 2,800 9,610 69,922
Charge for year 6,813 6,654 1,403 464 4,747 20,081
On disposals ( 9,610 ) ( 9,610 )
Other adjustments
At 31 January 2024 27,592 27,638 17,152 3,264 4,747 80,393
Net book value
At 31 January 2024 313,033 38,905 4,019 466 18,988 375,411
At 31 January 2023 271,873 36,542 5,252 930 0 314,597

DART MOUNTAIN CHEESE LTD.

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Stocks

2024 2023
£ £
Stocks 1,751 2,461
Total 1,751 2,461

DART MOUNTAIN CHEESE LTD.

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Debtors

2024 2023
£ £
Trade debtors 11,965 8,952
Prepayments and accrued income 1,163 1,022
Other debtors 2,271 26,051
Total 15,399 36,025

DART MOUNTAIN CHEESE LTD.

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 4,324 4,260
Amounts due under finance leases and hire purchase contracts 5,562 0
Trade creditors 10,164 5,108
Taxation and social security 0 246
Accruals and deferred income 3,150 3,000
Other creditors 329,923 329,923
Total 353,123 342,537

DART MOUNTAIN CHEESE LTD.

Notes to the Financial Statements

for the Period Ended 31 January 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 5,093 9,355
Amounts due under finance leases and hire purchase contracts 15,455 0
Other creditors 32,443 33,589
Total 52,991 42,944