Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11812128 Mr Keith Masters Mrs Keren Masters iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11812128 2023-02-28 11812128 2024-02-29 11812128 2023-03-01 2024-02-29 11812128 frs-core:CurrentFinancialInstruments 2024-02-29 11812128 frs-core:Non-currentFinancialInstruments 2024-02-29 11812128 frs-core:ComputerEquipment 2024-02-29 11812128 frs-core:ComputerEquipment 2023-03-01 2024-02-29 11812128 frs-core:ComputerEquipment 2023-02-28 11812128 frs-core:FurnitureFittings 2024-02-29 11812128 frs-core:FurnitureFittings 2023-03-01 2024-02-29 11812128 frs-core:FurnitureFittings 2023-02-28 11812128 frs-core:MotorVehicles 2024-02-29 11812128 frs-core:MotorVehicles 2023-03-01 2024-02-29 11812128 frs-core:MotorVehicles 2023-02-28 11812128 frs-core:PlantMachinery 2024-02-29 11812128 frs-core:PlantMachinery 2023-03-01 2024-02-29 11812128 frs-core:PlantMachinery 2023-02-28 11812128 frs-core:ShareCapital 2024-02-29 11812128 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11812128 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11812128 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11812128 frs-bus:SmallEntities 2023-03-01 2024-02-29 11812128 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11812128 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11812128 frs-core:DeferredTaxation 2023-03-01 2024-02-29 11812128 frs-core:DeferredTaxation 2023-02-28 11812128 frs-core:DeferredTaxation 2024-02-29 11812128 frs-bus:Director1 2023-03-01 2024-02-29 11812128 frs-bus:Director2 2023-03-01 2024-02-29 11812128 frs-countries:EnglandWales 2023-03-01 2024-02-29 11812128 2022-02-28 11812128 2023-02-28 11812128 2022-03-01 2023-02-28 11812128 frs-core:CurrentFinancialInstruments 2023-02-28 11812128 frs-core:Non-currentFinancialInstruments 2023-02-28 11812128 frs-core:ShareCapital 2023-02-28 11812128 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11812128
GELATO & CAKES LTD
Financial Statements
For The Year Ended 29 February 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Financial Statements
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mr Keith Masters
Mrs Keren Masters
Company Number 11812128
Registered Office 19 Goodwood Avenue
Cheadle
Stoke-on-Trent
Staffordshire
ST10 1BZ
Accountants The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 1
Page 2
Statement of Financial Position
Registered number: 11812128
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 68,167 85,553
68,167 85,553
CURRENT ASSETS
Stocks 5 2,675 5,120
Debtors 6 28,954 24,353
Cash at bank and in hand 3,853 1,917
35,482 31,390
Creditors: Amounts Falling Due Within One Year 7 (209,837 ) (204,009 )
NET CURRENT ASSETS (LIABILITIES) (174,355 ) (172,619 )
TOTAL ASSETS LESS CURRENT LIABILITIES (106,188 ) (87,066 )
Creditors: Amounts Falling Due After More Than One Year 8 (13,333 ) (19,333 )
NET LIABILITIES (119,521 ) (106,399 )
CAPITAL AND RESERVES
Called up share capital 11 2 2
Income Statement (119,523 ) (106,401 )
SHAREHOLDERS' FUNDS (119,521) (106,399)
Page 2
Page 3
For the year ending 29 February 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Keith Masters
Director
Mrs Keren Masters
Director
12th November 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
GELATO & CAKES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11812128 . The registered office is 19 Goodwood Avenue, Cheadle, Stoke-on-Trent, Staffordshire, ST10 1BZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 4
Page 5
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
Page 5
Page 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 146,804 22,553 26,506 149 196,012
Additions 129 - - 151 280
Disposals - - - (149 ) (149 )
As at 29 February 2024 146,933 22,553 26,506 151 196,143
Depreciation
As at 1 March 2023 82,757 13,039 14,514 149 110,459
Provided during the period 12,838 2,379 2,399 50 17,666
Disposals - - - (149 ) (149 )
As at 29 February 2024 95,595 15,418 16,913 50 127,976
Net Book Value
As at 29 February 2024 51,338 7,135 9,593 101 68,167
As at 1 March 2023 64,047 9,514 11,992 - 85,553
5. Stocks
2024 2023
£ £
Stock 2,675 5,120
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 465
Prepayments and accrued income 389 809
Deferred tax current asset 28,530 22,997
VAT - 82
Other taxes and social security 35 -
28,954 24,353
Page 6
Page 7
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,589 1,215
Bank loans and overdrafts 12,524 16,350
VAT 692 -
Accruals and deferred income 1,815 1,815
Directors' loan accounts 193,217 184,629
209,837 204,009
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,333 19,333
13,333 19,333
9. Deferred Taxation
The provision for deferred tax is made up as follows:
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 March 2023 (22,997 ) (22,997)
Additions (5,533 ) (5,533)
Balance at 29 February 2024 (28,530 ) (28,530)
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 7