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Registered number: 15332710
Dairylike Foods Limited
Unaudited Financial Statements
For the Period 6 December 2023 to 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 15332710
31 December 2024
Notes £ £
FIXED ASSETS
Intangible Assets 4 8,580
Tangible Assets 5 17,523
26,103
CURRENT ASSETS
Stocks 6 2,470
Debtors 7 1,355
Cash at bank and in hand 2,595
6,420
Creditors: Amounts Falling Due Within One Year 8 (22,723 )
NET CURRENT ASSETS (LIABILITIES) (16,303 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,800
NET ASSETS 9,800
CAPITAL AND RESERVES
Called up share capital 9 1
Other reserves 21,077
Profit and Loss Account (11,278 )
SHAREHOLDERS' FUNDS 9,800
Page 1
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For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr R S Pierce
Director
21/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dairylike Foods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15332710 . The registered office is Birch House Business Centre, Hen Lon Parcwr, Ruthin, LL15 1NA.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, estimated to be 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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 20% on cost
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. Government Grants
The company applies the performance model for government grants in accordance with FRS 102.24. Under this approach, grants are recognised as income when the performance-related conditions are met.
During the year, the company received a grant of £11,500 specifically for the purchase of plant and machinery. As the assets were acquired and put into use within the same financial year, the grant conditions have been fully satisfied. Consequently, the full grant amount has been recognised as other income in the profit and loss account in the current period.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
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4. Intangible Assets
Development Costs
£
Cost
As at 6 December 2023 -
Additions 8,580
As at 31 December 2024 8,580
Net Book Value
As at 31 December 2024 8,580
As at 6 December 2023 -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 6 December 2023 -
Additions 20,292
As at 31 December 2024 20,292
Depreciation
As at 6 December 2023 -
Provided during the period 2,769
As at 31 December 2024 2,769
Net Book Value
As at 31 December 2024 17,523
As at 6 December 2023 -
6. Stocks
31 December 2024
£
Stock 2,470
7. Debtors
31 December 2024
£
Due within one year
Trade debtors 480
Other debtors 875
1,355
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8. Creditors: Amounts Falling Due Within One Year
31 December 2024
£
Trade creditors 10,078
Other creditors 12,645
22,723
9. Share Capital
31 December 2024
£
Allotted, Called up and fully paid 1
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