Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseNo description of principal activity1919trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05581328 2023-04-01 2024-03-31 05581328 2022-04-01 2023-03-31 05581328 2024-03-31 05581328 2023-03-31 05581328 c:Director1 2023-04-01 2024-03-31 05581328 d:Buildings 2023-04-01 2024-03-31 05581328 d:Buildings 2024-03-31 05581328 d:Buildings 2023-03-31 05581328 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05581328 d:Buildings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05581328 d:PlantMachinery 2023-04-01 2024-03-31 05581328 d:PlantMachinery 2024-03-31 05581328 d:PlantMachinery 2023-03-31 05581328 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05581328 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05581328 d:MotorVehicles 2023-04-01 2024-03-31 05581328 d:MotorVehicles 2024-03-31 05581328 d:MotorVehicles 2023-03-31 05581328 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05581328 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05581328 d:ComputerEquipment 2023-04-01 2024-03-31 05581328 d:ComputerEquipment 2024-03-31 05581328 d:ComputerEquipment 2023-03-31 05581328 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05581328 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05581328 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05581328 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05581328 d:CurrentFinancialInstruments 2024-03-31 05581328 d:CurrentFinancialInstruments 2023-03-31 05581328 d:Non-currentFinancialInstruments 2024-03-31 05581328 d:Non-currentFinancialInstruments 2023-03-31 05581328 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05581328 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05581328 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 05581328 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05581328 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 05581328 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 05581328 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 05581328 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 05581328 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 05581328 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 05581328 d:ShareCapital 2024-03-31 05581328 d:ShareCapital 2023-03-31 05581328 d:RetainedEarningsAccumulatedLosses 2024-03-31 05581328 d:RetainedEarningsAccumulatedLosses 2023-03-31 05581328 c:FRS102 2023-04-01 2024-03-31 05581328 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05581328 c:FullAccounts 2023-04-01 2024-03-31 05581328 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05581328 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 05581328 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 05581328 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 05581328 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 05581328 2 2023-04-01 2024-03-31 05581328 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 05581328














SIMPLY ICE CREAMS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
SIMPLY ICE CREAMS LIMITED
REGISTERED NUMBER:05581328

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note

Fixed assets
  

Tangible assets
 4 
215,163
243,716

Current assets
  

Stocks
  
86,825
97,591

Debtors: amounts falling due within one year
 5 
50,006
43,794

Cash at bank and in hand
 6 
8,211
3,676

  
145,042
145,061

Creditors: amounts falling due within one year
 7 
(179,548)
(139,771)

Net current (liabilities)/assets
  
 
 
(34,506)
 
 
5,290

Total assets less current liabilities
  
180,657
249,006

Creditors: amounts falling due after more than one year
 8 
(83,219)
(112,927)

  

Net assets
  
£97,438
£136,079


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
97,428
136,069

  
£97,438
£136,079

Page 1

 
SIMPLY ICE CREAMS LIMITED
REGISTERED NUMBER:05581328

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 January 2025.

___________________________
S Newall
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SIMPLY ICE CREAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Simply Ice Creams Ltd is a private company limited by shares. The company is registered in England and Wales under the number 05581328. The company registered office is The Nook, Bonnington, Ashford, Kent TN25 7BA. The company operates from Ouseley Dairy, Hinxhill, Ashford, Kent TN25 5NP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the performance model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
SIMPLY ICE CREAMS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SIMPLY ICE CREAMS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
10%
between 10% and 20% straight line basis
Plant and machinery
-
15%
reducing balance basis
Motor vehicles
-
25%
reducing balance basis
Computer equipment
-
25%
reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
SIMPLY ICE CREAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 19).


4.


Tangible fixed assets





Leasehold Improvement
Plant and machinery
Motor vehicles
Computer equipment
Total



Cost or valuation


At 1 April 2023
182,956
101,615
66,768
23,508
374,847


Additions
-
9,756
-
-
9,756



At 31 March 2024

182,956
111,371
66,768
23,508
384,603



Depreciation


At 1 April 2023
42,432
28,507
49,160
11,032
131,131


Charge for the year on owned assets
19,216
-
-
3,119
22,335


Charge for the year on financed assets
-
-
4,402
-
4,402


Disposals
-
11,572
-
-
11,572



At 31 March 2024

61,648
40,079
53,562
14,151
169,440



Net book value



At 31 March 2024
£121,308
£71,292
£13,206
£9,357
£215,163



At 31 March 2023
£140,524
£73,108
£17,608
£12,476
£243,716


5.


Debtors

2024
2023


Trade debtors
48,681
33,845

Other debtors
369
8,480

Prepayments and accrued income
956
1,469

£50,006
£43,794



6.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
£8,211
£3,676


Page 6

 
SIMPLY ICE CREAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023

Bank loans
15,303
15,303

Other loans
20,000
20,000

Trade creditors
60,147
38,837

Other taxation and social security
26,168
15,307

Obligations under finance lease and hire purchase contracts
3,713
4,205

Other creditors
52,217
43,170

Accruals and deferred income
2,000
2,949

£179,548
£139,771


Hire purchase contracts are secured on the asset concerned.


8.


Creditors: Amounts falling due after more than one year

2024
2023

Bank loans
38,219
49,215

Other loans
45,000
60,000

Net obligations under finance leases and hire purchase contracts
-
3,712

£83,219
£112,927


Hire purchase contracts are secured on the assets concerned. 

Page 7

 
SIMPLY ICE CREAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023

Amounts falling due within one year

Bank loans
15,303
15,303

Other loans
20,000
20,000


35,303
35,303

Amounts falling due 1-2 years

Bank loans
9,241
15,303

Other loans
20,000
20,000


29,241
35,303

Amounts falling due 2-5 years

Bank loans
18,631
21,662

Other loans
25,000
40,000


43,631
61,662

Amounts falling due after more than 5 years

Bank loans
10,347
12,250

10,347
12,250

£118,522
£144,518



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023


Within one year
3,713
4,205

Between 1-2 years
-
3,712

£3,713
£7,917


Page 8