REGISTERED NUMBER: 02892944 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Northumbrian Ice Cream Company Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

P J Goldfinch

A Goldfinch

K A O'Connor

M Reid

REGISTERED OFFICE:

Wansbeck Business Park

Rotary Parkway

Northumberland

NE63 8QW

REGISTERED NUMBER:

02892944 (England and Wales)

ACCOUNTANTS:

Peter Weldon & Co. Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Northumbrian Ice Cream Company Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Northumbrian Ice Cream Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Northumbrian Ice Cream Company Limited and state those matters that we have agreed to state to the Board of Directors of Northumbrian Ice Cream Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northumbrian Ice Cream Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Northumbrian Ice Cream Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Northumbrian Ice Cream Company Limited. You consider that Northumbrian Ice Cream Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Northumbrian Ice Cream Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Peter Weldon & Co. Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

3 April 2025

FIXED ASSETS

Intangible assets

4

276,000

276,000

Tangible assets

5

2,785,636

2,786,372

3,061,636

3,062,372

CURRENT ASSETS

Stocks

6

364,259

376,990

Debtors

7

213,945

325,495

Prepayments and accrued income

94,230

98,519

Cash at bank and in hand

1,133,353

460,309

1,805,787

1,261,313

CREDITORS

Amounts falling due within one year

8

1,361,469

1,491,595

NET CURRENT ASSETS/(LIABILITIES)

444,318

(230,282

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,505,954

2,832,090

CREDITORS

Amounts falling due after more than one year

9

(2,456,678

)

(1,699,943

)

PROVISIONS FOR LIABILITIES

(632,726

)

(591,490

)

NET ASSETS

416,550

540,657

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

415,550

539,657

SHAREHOLDERS' FUNDS

416,550

540,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:

K A O'Connor - Director

1.	STATUTORY INFORMATION

Northumbrian Ice Cream Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are prepared in pound sterling (£), which is the functional currency of the entity and are rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

5% and 15% on reducing balance per annum

Fixtures and fittings

-

15% on reducing balance per annum

Motor vehicles

-

33% on reducing balance per annum

Computer equipment

-

25% and 33% on reducing balance per annum

Tangible assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all costs of purchases and other costs incurred in bringing the stock to its present condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

276,000

NET BOOK VALUE

At 31 December 2024

276,000

At 31 December 2023

276,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

4,094,813

70,008

230,031

144,854

4,539,706

Additions

630,954

813

110,639

944

743,350

Disposals

(391,824

)

(208

)

(104,588

)

(850

)

(497,470

)

Adjustments

2,696

-

-

-

2,696

At 31 December 2024

4,336,639

70,613

236,082

144,948

4,788,282

DEPRECIATION

At 1 January 2024

1,409,259

67,330

138,842

137,903

1,753,334

Charge for year

328,611

1,296

71,772

3,499

405,178

Eliminated on disposal

(53,662

)

(147

)

(71,897

)

(760

)

(126,466

)

Adjustments

(29,400

)

-

-

-

(29,400

)

At 31 December 2024

1,654,808

68,479

138,717

140,642

2,002,646

NET BOOK VALUE

At 31 December 2024

2,681,831

2,134

97,365

4,306

2,785,636

At 31 December 2023

2,685,554

2,678

91,189

6,951

2,786,372

6.

STOCKS

2024

2023

£

£

Stocks

364,259

376,990

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

213,945

325,495

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

479,756

527,873

Trade creditors

271,499

428,383

Taxation and social security

69,037

36,138

Other creditors

541,177

499,201

1,361,469

1,491,595

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

808,914

685,940

Trade creditors

-

214,688

Other Loans

1,647,764

799,315

2,456,678

1,699,943

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

1,288,670

1,213,813

Hire purchase and finance leases are secured on the assets concerned.