Registered number
08198198
Ciccarelli Italian Ice Cream Limited
Filleted Accounts
31 August 2024
Ciccarelli Italian Ice Cream Limited
Registered number: 08198198
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 5,000 -
Tangible assets 4 318,239 243,990
323,239 243,990
Current assets
Stocks 24,250 54,250
Debtors 5 471,013 453,347
Cash at bank and in hand 1,114,690 829,061
1,609,953 1,336,658
Creditors: amounts falling due within one year 6 (1,765,980) (1,412,238)
Net current liabilities (156,027) (75,580)
Total assets less current liabilities 167,212 168,410
Provisions for liabilities (50,821) (52,657)
Net assets 116,391 115,753
Capital and reserves
Called up share capital 99 99
Profit and loss account 116,292 115,654
Shareholders' funds 116,391 115,753
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Gregorio
Director
Approved by the board on 1 May 2025
Ciccarelli Italian Ice Cream Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Goodwill:
Cost
Additions 5,000
At 31 August 2024 5,000
Amortisation
At 31 August 2024 -
Net book value
At 31 August 2024 5,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 355,362 37,240 392,602
Additions 110,644 50,745 161,389
At 31 August 2024 466,006 87,985 553,991
Depreciation
At 1 September 2023 144,733 3,879 148,612
Charge for the year 74,658 12,482 87,140
At 31 August 2024 219,391 16,361 235,752
Net book value
At 31 August 2024 246,615 71,624 318,239
At 31 August 2023 210,629 33,361 243,990
5 Debtors 2024 2023
£ £
Trade debtors 90,883 89,531
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 159,401
Other debtors 380,130 204,415
471,013 453,347
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 38,275 100,645
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,590,549 1,260,165
Taxation and social security costs 131,488 43,786
Other creditors 5,668 7,642
1,765,980 1,412,238
7 Controlling party
The company is a wholly owened subsidiart of Gregorio Holdings Limited, its ultimate parent company.
8 Other information
Ciccarelli Italian Ice Cream Limited is a private company limited by shares and incorporated in England. Its registered office is:
B3 Kingfisher House
Team Valley
Gateshead
Tyne and Wear
NE11 0JQ
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