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Registered number: 10514419
Fablas Ice Cream Limited
Unaudited Financial Statements
For The Year Ended 29 April 2024
L C S Accountancy Ltd
22 Gelliwastad Road
Pontypridd
CF37 2BW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10514419
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 585,090 549,786
585,090 549,786
CURRENT ASSETS
Stocks 5 223,488 124,160
Debtors 6 43,508 21,688
Cash at bank and in hand 11,469 35,211
278,465 181,059
Creditors: Amounts Falling Due Within One Year 7 (226,884 ) (127,424 )
NET CURRENT ASSETS (LIABILITIES) 51,581 53,635
TOTAL ASSETS LESS CURRENT LIABILITIES 636,671 603,421
Creditors: Amounts Falling Due After More Than One Year 8 (767,765 ) (614,191 )
NET LIABILITIES (131,094 ) (10,770 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account (131,096 ) (10,772 )
SHAREHOLDERS' FUNDS (131,094) (10,770)
Page 1
Page 2
For the year ending 29 April 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 Profit and Loss Account.
On behalf of the board
Mrs Michelle Evans
Director
2 December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fablas Ice Cream Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10514419 . The registered office is Broomwell, Llancarfan, Barry, Vale of Glamorgan, CF62 3AD.
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. 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.
2.3. 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% Reducing balance
Motor Vehicles 20% Reducing balance
Fixtures & Fittings 15% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 48 (2023: 34)
48 34
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 30 April 2023 546,665 48,034 185,765 780,464
Additions 87,463 - 69,165 156,628
Disposals - (19,163 ) - (19,163 )
As at 29 April 2024 634,128 28,871 254,930 917,929
Depreciation
As at 30 April 2023 175,949 25,405 29,324 230,678
Provided during the period 81,649 2,825 28,347 112,821
Disposals - (10,660 ) - (10,660 )
As at 29 April 2024 257,598 17,570 57,671 332,839
Net Book Value
As at 29 April 2024 376,530 11,301 197,259 585,090
As at 30 April 2023 370,716 22,629 156,441 549,786
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 30,951 27,954
5. Stocks
2024 2023
£ £
Stock - materials and finished goods 223,488 124,160
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,571 1,020
Prepayments and accrued income 28,959 15,245
VAT 9,978 5,423
43,508 21,688
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,573 12,573
Trade creditors 130,996 88,355
Bank loans and overdrafts 73,412 16,187
Other taxes and social security 1,926 2,082
Other creditors 5,977 6,727
Accruals and deferred income 2,000 1,500
226,884 127,424
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,255 16,876
Bank loans 85,048 60,537
Directors loan account 678,462 536,778
767,765 614,191
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,573 12,573
Later than one year and not later than five years 4,255 16,876
16,828 29,449
16,828 29,449
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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