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Registered number: 11929453
Warren's Ice Cream Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Naylor Accountancy Services Limited
25 Hursley Road
Chandler's Ford
Eastleigh
Hampshire
SO53 2FS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11929453
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 30,000 35,000
Tangible Assets 5 362,067 356,009
392,067 391,009
CURRENT ASSETS
Stocks 6 30,000 22,506
Debtors 7 13,094 54,069
Cash at bank and in hand 44,280 23,045
87,374 99,620
Creditors: Amounts Falling Due Within One Year 8 (358,859 ) (366,548 )
NET CURRENT ASSETS (LIABILITIES) (271,485 ) (266,928 )
TOTAL ASSETS LESS CURRENT LIABILITIES 120,582 124,081
Creditors: Amounts Falling Due After More Than One Year 9 (78,144 ) (123,084 )
NET ASSETS 42,438 997
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 42,437 996
SHAREHOLDERS' FUNDS 42,438 997
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Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
W Dickens
Director
28th January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Warren's Ice Cream Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11929453 . The registered office is 25 Hursley Road, Chandler's Ford, Eastleigh, Hampshire, SO53 2FS.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
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 25% Straight line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Straight line
The gain or loss arising on the disposal of an aset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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.
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.
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2.7. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three
2.8. Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 26)
25 26
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 50,000
As at 30 April 2024 50,000
Amortisation
As at 1 May 2023 15,000
Provided during the period 5,000
As at 30 April 2024 20,000
Net Book Value
As at 30 April 2024 30,000
As at 1 May 2023 35,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 55,421 387,832 1,692 444,945
Additions 17,516 22,217 6,781 46,514
As at 30 April 2024 72,937 410,049 8,473 491,459
Depreciation
As at 1 May 2023 17,018 70,703 1,215 88,936
Provided during the period 6,255 32,083 2,118 40,456
As at 30 April 2024 23,273 102,786 3,333 129,392
Net Book Value
As at 30 April 2024 49,664 307,263 5,140 362,067
As at 1 May 2023 38,403 317,129 477 356,009
6. Stocks
2024 2023
£ £
Stock 30,000 22,506
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7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 5,469 8,695
Other debtors 7,625 30,958
Corporation tax recoverable assets - 14,416
13,094 54,069
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 50,056 37,538
Corporation tax - (1,002 )
VAT 41,866 24,924
Net wages - 4,408
Other creditors 90,966 41,073
Bank Loan 10,980 15,000
Director's loan account 164,991 244,607
358,859 366,548
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 19,418 30,417
Other creditors 58,726 92,667
78,144 123,084
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
W Dickens 12,000 18,000
12. Ultimate Controlling Party
The company's ultimate controlling party is Warren DIckens by virtue of his ownership of 100% of the issued share capital in the company.
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