REGISTERED NUMBER: 01384841 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KERNOW CONFECTIONERY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D Shapland

Mrs J Shapland

A J Soden

Mrs N L D Soden

P D Shapland

Mrs V J Shapland

SECRETARY:

Mrs N L D Soden

REGISTERED OFFICE:

Trevisker Farm

St Eval

Wadebridge

Cornwall

PL27 7UE

REGISTERED NUMBER:

01384841 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Tangible assets

4

45,769

50,744

CURRENT ASSETS

Stocks

80,333

87,971

Debtors

5

48,456

89,900

Cash at bank

208,404

176,059

337,193

353,930

CREDITORS

Amounts falling due within one year

6

155,447

152,940

NET CURRENT ASSETS

181,746

200,990

TOTAL ASSETS LESS CURRENT LIABILITIES

227,515

251,734

CREDITORS

Amounts falling due after more than one year

7

(6,071

)

(16,280

)

PROVISIONS FOR LIABILITIES

(8,137

)

(8,718

)

NET ASSETS

213,307

226,736

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Share premium

1,250

1,250

Retained earnings

162,057

175,486

SHAREHOLDERS' FUNDS

213,307

226,736

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 13 March 2025 and were signed on its behalf by:

A D Shapland - Director

1.	STATUTORY INFORMATION

Kernow Confectionery Ltd 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.

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.

Turnover

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

Tangible fixed assets

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

Short leasehold

-

10% on cost

Improvements to property

-

not provided

Plant and machinery

-

25% on cost and 25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 January 2024

14,522

7,108

142,844

Additions

-

-

13,495

Disposals

-

-

(26,630

)

At 31 December 2024

14,522

7,108

129,709

DEPRECIATION

At 1 January 2024

12,801

-

111,850

Charge for year

1,452

-

9,857

Eliminated on disposal

-

-

(21,562

)

At 31 December 2024

14,253

-

100,145

NET BOOK VALUE

At 31 December 2024

269

7,108

29,564

At 31 December 2023

1,721

7,108

30,994

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

28,891

21,815

215,180

Additions

-

3,785

17,280

Disposals

(18,999

)

(708

)

(46,337

)

At 31 December 2024

9,892

24,892

186,123

DEPRECIATION

At 1 January 2024

22,892

16,893

164,436

Charge for year

866

2,078

14,253

Eliminated on disposal

(16,463

)

(310

)

(38,335

)

At 31 December 2024

7,295

18,661

140,354

NET BOOK VALUE

At 31 December 2024

2,597

6,231

45,769

At 31 December 2023

5,999

4,922

50,744

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

45,430

86,636

Other debtors

3,026

3,264

48,456

89,900

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,407

10,282

Trade creditors

53,619

31,296

Tax

13,235

21,813

Social security and other taxes

39,401

51,768

Other creditors

38,599

37,345

Directors' current accounts

186

436

155,447

152,940

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bounce Back Loan account

6,071

16,280

8.	ULTIMATE CONTROLLING PARTY

During the period the company was controlled by its directors, in particular Mr A D and Mrs J Shapland who,between them, own 32% of the ordinary share capital.