Company No:
Contents
Note | 31.10.2023 | 31.10.2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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580 | 872 | |||
Current assets | ||||
Stocks |
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Debtors | ||||
- due within one year | 4 |
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- due after more than one year | 4 |
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Cash at bank and in hand |
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9,069 | 18,795 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (82,148) | (34,270) | ||
Total assets less current liabilities | (81,568) | (33,398) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Altcheese Ltd (registered number:
A J Barber
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Altcheese 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 Wards Farm Smiths Lane, Ditcheat, Shepton Mallet, BA4 6PR, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £81,568. 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.
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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Plant and machinery |
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Office equipment |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Year ended 31.10.2023 |
Period from 18.10.2021 to 31.10.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Office equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 November 2022 |
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At 31 October 2023 |
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Accumulated depreciation | |||||
At 01 November 2022 |
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Charge for the financial year |
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At 31 October 2023 |
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Net book value | |||||
At 31 October 2023 |
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At 31 October 2022 |
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31.10.2023 | 31.10.2022 | ||
£ | £ | ||
Debtors: amounts falling due within one year | |||
Trade debtors |
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VAT recoverable |
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Other debtors |
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Debtors: amounts falling due after more than one year | |||
Deferred tax asset |
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31.10.2023 | 31.10.2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to directors |
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Accruals |
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Other creditors |
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31.10.2023 | 31.10.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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400 | 400 |
Transactions with the entity's directors
31.10.2023 | 31.10.2022 | ||
£ | £ | ||
Amount owed to directors | 65,369 | 25,122 |