Registered number
02733645
Ceramica Obscura Limited
Unaudited Filleted Accounts
30 April 2024
Ceramica Obscura Limited
Registered number: 02733645
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 387,638 372,694
Current assets
Stocks 16,989 26,017
Debtors 4 27,138 25,321
Cash at bank and in hand 12,505 25,906
56,632 77,244
Creditors: amounts falling due within one year 5 (34,813) (41,360)
Net current assets 21,819 35,884
Total assets less current liabilities 409,457 408,578
Creditors: amounts falling due after more than one year 6 (401,000) (390,000)
Net assets 8,457 18,578
Capital and reserves
Called up share capital 2 2
Profit and loss account 8,455 18,576
Shareholders' funds 8,457 18,578
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs S J O'Rourke
Director
Approved by the board on 30 January 2025
Ceramica Obscura Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% on a straight line basis
Leasehold land and buildings 2% on a straight line basis
Plant and machinery 25% on reducing balance
Fixtures, fittings, tools and equipment 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments, unless it is considered not to be material. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 18
3 Tangible fixed assets
Land and buildings Plant and machinery etc Improve-ments to property Total
£ £ £ £
Cost
At 1 May 2023 299,504 54,987 87,261 441,752
Additions 18,836 14,442 185 33,463
Disposals - (1,805) - (1,805)
At 30 April 2024 318,340 67,624 87,446 473,410
Depreciation
At 1 May 2023 25,531 35,301 8,226 69,058
Charge for the year 7,737 6,403 3,026 17,166
On disposals - (452) - (452)
At 30 April 2024 33,268 41,252 11,252 85,772
Net book value
At 30 April 2024 285,072 26,372 76,194 387,638
At 30 April 2023 273,973 19,686 79,035 372,694
4 Debtors 2024 2023
£ £
Other debtors 27,138 25,321
Amounts due after more than one year included above 13,916 5,402
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 18,329 18,400
Taxation and social security costs 10,510 16,994
Other creditors 5,974 5,966
34,813 41,360
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 401,000 390,000
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases - 86
8 Related party transactions
The company had an outstanding loan to Pineapple Property Leasing Limited at the balance sheet date of £402,988 (2023; £392,804). The two directors of that company are also directors of Ceramica Obscura Limited. This loan is included in Notes 5 & 6. No interest was charged on the loan during the year (2023 £Nil) in recognition of the difficult trading conditions that Ceramica Obscura Limited is experiencing, following the Coronavirus and lockdown. There are no fixed repayments terms for the loan, but the directors of Pineapple Property Leasing Limited have indicated that the company will not be seeking repayment of £401,000 of this loan in the next year, and accordingly this amount of the loan has been included with Creditors - Amounts falling due after more than one year on the Balance Sheet at 30 April 2024.
The company also advanced a loan of £8,514 (2023: £5,402) to Blackness Bay Distillery Ltd during the year. This loan balance is included within other debtors (Note 4). Two of that company's directors are also the directors of Ceramica Obscura Limtied. The loan is interest free and there are no fixed repayment terms for the loan, but the directors have indicated to Blackness Bay Distillery Ltd that the company will not be seeking repayment of the outstanding loan balance of £13,916 (2023: £5402) in the next year.
During the year the company purchased a piece of land from two of it's directors at market valuation. This land is included in additions of land and buildings in Note 5.
A dividend of £500 was paid to one of the directors during the year.
9 Other information
Ceramica Obscura Limited is a private company limited by shares and incorporated in England. Its registered office is
1 Offmore Farm Close
Kidderminster
Worcestershire
DY10 3XJ
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