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CARIBBEAN GOODS LTD

Registered Number
SC616814
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2024

CARIBBEAN GOODS LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

GUTIERREZ ABRIL, Javier Enrique

Registered Address

Strathclyde Inspire Hub Rooms 6.01-6.13,, Level 6 Graham Hills Building
50 Richmond Street
Glasgow
G1 1XN

Registered Number

SC616814 (Scotland)
CARIBBEAN GOODS LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets34,230259
Tangible assets411,9877,645
16,2177,904
Current assets
Stocks559,49480,705
Debtors626,21216,844
Cash at bank and on hand13,0854,640
98,791102,189
Creditors amounts falling due within one year7(102,165)(126,565)
Net current assets (liabilities)(3,374)(24,376)
Total assets less current liabilities12,843(16,472)
Net assets12,843(16,472)
Capital and reserves
Called up share capital111111
Profit and loss account12,732(16,583)
Shareholders' funds12,843(16,472)
The financial statements were approved and authorised for issue by the Director on 24 January 2025, and are signed on its behalf by:
GUTIERREZ ABRIL, Javier Enrique
Director
Registered Company No. SC616814
CARIBBEAN GOODS LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Development costs
Capitalised development costs are stated at cost less accumulated amortisation and accumulated impairment losses (cost model). Amortisation is recognised using the straight-line basis and results in the carrying amount being expensed in profit or loss over the estimated useful life.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-3
Office Equipment15-
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Total

£
Cost or valuation
At 01 January 24370
Additions5,010
At 31 December 245,380
Amortisation and impairment
At 01 January 24111
Charge for year1,039
At 31 December 241,150
Net book value
At 31 December 244,230
At 31 December 23259
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 2415,296
Additions7,020
At 31 December 2422,121
Depreciation and impairment
At 01 January 247,651
Charge for year2,678
At 31 December 2410,135
Net book value
At 31 December 2411,987
At 31 December 237,645
5.Stocks

2024

2023

££
Other stocks59,49480,705
Total59,49480,705
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables18,53214,275
Other debtors6,1071,432
Prepayments and accrued income1,5731,137
Total26,21216,844
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables50,01275,219
Taxation and social security188-
Other creditors50,92448,497
Accrued liabilities and deferred income1,0412,849
Total102,165126,565
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
GUTIERREZ ABRIL, Javier Enrique48,49710,79810,70448,591
48,49710,79810,70448,591
9.Related party transactions
Within "other debtors" is a balance of £1,793 (2023: £0) owed to the company by companies related by virtue of common control. These amounts are repayable on demand and do not bear interest.