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REGISTERED NUMBER: SC033156 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Crolla Ice Cream Company Ltd

The Crolla Ice Cream Company Ltd (Registered number: SC033156)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Crolla Ice Cream Company Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Peter Alcide Crolla





REGISTERED OFFICE: 25 Sandyford Place
Glasgow
G3 7NG





REGISTERED NUMBER: SC033156 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 45,810 51,536
Tangible assets 5 852,311 610,963
Investments 6 43,812 43,812
941,933 706,311

CURRENT ASSETS
Stock 472,787 488,842
Debtors 7 1,033,480 888,638
Cash at bank and in hand 616 108,019
1,506,883 1,485,499
CREDITORS
Amounts falling due within one year 8 1,189,932 1,074,210
NET CURRENT ASSETS 316,951 411,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,258,884

1,117,600

CREDITORS
Amounts falling due after more than one
year

9

(345,371

)

(356,237

)

PROVISIONS FOR LIABILITIES 12 (205,546 ) (116,873 )
NET ASSETS 707,967 644,490

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Balance Sheet - continued
31 December 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 5 5
Capital redemption reserve 1,595 1,595
Fair value reserve 14 128,157 128,157
Retained earnings 578,210 514,733
SHAREHOLDERS' FUNDS 707,967 644,490

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 April 2025 and were signed by:





Peter Alcide Crolla - Director


The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of another Ice Cream business is being written off over ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Heritable property - 2% on cost
Plant and machinery - 10 to 25 % reducing balance
Fittings and equipment - 10% on reducing balance
Motor vehicles - 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.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.


The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Fixed assets investments
These investments are stated at historical cost.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 34 ) .

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 57,262
AMORTISATION
At 1 January 2024 5,726
Amortisation for year 5,726
At 31 December 2024 11,452
NET BOOK VALUE
At 31 December 2024 45,810
At 31 December 2023 51,536

5. TANGIBLE FIXED ASSETS
Fittings
Heritable Plant and and Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 - 993,811 232,668 326,054 1,552,533
Additions 25,949 261,141 - 69,680 356,770
Disposals (25,949 ) (7,051 ) - - (33,000 )
At 31 December 2024 - 1,247,901 232,668 395,734 1,876,303
DEPRECIATION
At 1 January 2024 - 592,615 167,518 181,437 941,570
Charge for year - 26,159 6,514 53,053 85,726
Eliminated on disposal - (3,304 ) - - (3,304 )
At 31 December 2024 - 615,470 174,032 234,490 1,023,992
NET BOOK VALUE
At 31 December 2024 - 632,431 58,636 161,244 852,311
At 31 December 2023 - 401,196 65,150 144,617 610,963

Cost or valuation at 31 December 2024 is represented by:

Fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
Cost 1,247,901 232,668 395,734 1,876,303

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 January 2024
and 31 December 2024 72,708
DEPRECIATION
At 1 January 2024 10,560
Charge for year 21,863
At 31 December 2024 32,423
NET BOOK VALUE
At 31 December 2024 40,285
At 31 December 2023 62,148

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 January 2024
and 31 December 2024 43,812
NET BOOK VALUE
At 31 December 2024 43,812
At 31 December 2023 43,812

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 489,900 462,367
Other debtors 543,580 426,271
1,033,480 888,638

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 364,786 120,000
Hire purchase contracts (see note 10) 79,458 98,773
Trade creditors 403,535 351,031
Taxation and social security 274,172 91,098
Other creditors 67,981 413,308
1,189,932 1,074,210

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 345,371 356,237

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 79,458 98,773

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 501,281 476,237

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 205,546 116,873

Deferred
tax
£   
Balance at 1 January 2024 116,873
Provided during year 88,673
Balance at 31 December 2024 205,546

The Crolla Ice Cream Company Ltd (Registered number: SC033156)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,500 Ordinary £1 5 5

14. RESERVES
Fair
value
reserve
£   
At 1 January 2024
and 31 December 2024 128,157