Ticklemore Cheese Ltd 15080488 false 2023-08-18 2025-01-31 2025-01-31 The principal activity of the company is Cheese Manufacturing Digita Accounts Production Advanced 6.30.9574.0 true 15080488 2023-08-18 2025-01-31 15080488 2025-01-31 15080488 bus:Director1 1 2025-01-31 15080488 bus:Director2 1 2025-01-31 15080488 bus:OrdinaryShareClass1 2025-01-31 15080488 core:CurrentFinancialInstruments 2025-01-31 15080488 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 15080488 core:Non-currentFinancialInstruments 2025-01-31 15080488 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 15080488 core:PatentsTrademarksLicencesConcessionsSimilar 2025-01-31 15080488 core:FurnitureFittingsToolsEquipment 2025-01-31 15080488 core:MotorVehicles 2025-01-31 15080488 core:OtherPropertyPlantEquipment 2025-01-31 15080488 bus:SmallEntities 2023-08-18 2025-01-31 15080488 bus:AuditExemptWithAccountantsReport 2023-08-18 2025-01-31 15080488 bus:FilletedAccounts 2023-08-18 2025-01-31 15080488 bus:SmallCompaniesRegimeForAccounts 2023-08-18 2025-01-31 15080488 bus:RegisteredOffice 2023-08-18 2025-01-31 15080488 bus:Director1 2023-08-18 2025-01-31 15080488 bus:Director1 1 2023-08-18 2025-01-31 15080488 bus:Director2 2023-08-18 2025-01-31 15080488 bus:Director2 1 2023-08-18 2025-01-31 15080488 bus:OrdinaryShareClass1 2023-08-18 2025-01-31 15080488 bus:PrivateLimitedCompanyLtd 2023-08-18 2025-01-31 15080488 bus:Agent1 2023-08-18 2025-01-31 15080488 core:RetainedEarningsAccumulatedLosses core:LandBuildings 2023-08-18 2025-01-31 15080488 core:RevaluationReserve core:LandBuildings 2023-08-18 2025-01-31 15080488 core:PatentsTrademarksLicencesConcessionsSimilar 2023-08-18 2025-01-31 15080488 core:FurnitureFittings 2023-08-18 2025-01-31 15080488 core:FurnitureFittingsToolsEquipment 2023-08-18 2025-01-31 15080488 core:LandBuildings 2023-08-18 2025-01-31 15080488 core:MotorVehicles 2023-08-18 2025-01-31 15080488 core:OfficeEquipment 2023-08-18 2025-01-31 15080488 core:OtherPropertyPlantEquipment 2023-08-18 2025-01-31 15080488 core:PlantMachinery 2023-08-18 2025-01-31 15080488 countries:EnglandWales 2023-08-18 2025-01-31 15080488 bus:Director1 1 2023-08-17 15080488 bus:Director2 1 2023-08-17 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 15080488

Ticklemore Cheese Ltd

Unaudited Filleted Financial Statements

for the Period from 18 August 2023 to 31 January 2025

 

Ticklemore Cheese Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Ticklemore Cheese Ltd

Company Information

Directors

Mr Ben Harris

Mrs Laura Harris

Registered office

28 Hartland Tor Close
Brixham
Devon
TQ5 0RE

Accountants

Neil Wilson Accountancy Limited Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Ticklemore Cheese Ltd

(Registration number: 15080488)
Balance Sheet as at 31 January 2025

Note

2025
£

Fixed assets

 

Intangible assets

4

2,340

Tangible assets

5

152,398

 

154,738

Current assets

 

Stocks

6

119,553

Debtors

7

62,282

Cash at bank and in hand

 

69,672

 

251,507

Creditors: Amounts falling due within one year

8

(25,187)

Net current assets

 

226,320

Total assets less current liabilities

 

381,058

Creditors: Amounts falling due after more than one year

8

(220,000)

Provisions for liabilities

(39,091)

Net assets

 

121,967

Capital and reserves

 

Called up share capital

9

2

Revaluation reserve

110,289

Retained earnings

11,676

Shareholders' funds

 

121,967

For the financial period ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 April 2025 and signed on its behalf by:
 

 

Ticklemore Cheese Ltd

(Registration number: 15080488)
Balance Sheet as at 31 January 2025

.........................................
Mr Ben Harris
Director

.........................................
Mrs Laura Harris
Director

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Hartland Tor Close
Brixham
Devon
TQ5 0RE

These financial statements were authorised for issue by the Board on 8 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% reducing balance basis

Fixtures and fittings

25% reducing balance basis

Office equipment

25% reducing balance basis

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 7.

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

Additions acquired separately

2,600

2,600

At 31 January 2025

2,600

2,600

Amortisation

Amortisation charge

260

260

At 31 January 2025

260

260

Carrying amount

At 31 January 2025

2,340

2,340

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

Revaluations

-

-

122,543

122,543

Additions

3,596

26,933

21,347

51,876

At 31 January 2025

3,596

26,933

143,890

174,419

Depreciation

Charge for the period

899

6,733

14,389

22,021

At 31 January 2025

899

6,733

14,389

22,021

Carrying amount

At 31 January 2025

2,697

20,200

129,501

152,398

6

Stocks

2025
£

Other inventories

119,553

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

7

Debtors

Current

2025
£

Trade debtors

30,475

Other debtors

31,807

 

62,282

8

Creditors

Creditors: amounts falling due within one year

2025
£

Due within one year

Trade creditors

10,311

Taxation and social security

5,914

Accruals and deferred income

6,049

Other creditors

2,913

25,187

Creditors: amounts falling due after more than one year

Note

2025
£

Due after one year

 

Loans and borrowings

11

220,000

9

Share capital

Allotted, called up and fully paid shares

2025

No.

£

Ordinary share of £1 each

2

2

   

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

110,289

12,254

122,543

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

11

Loans and borrowings

Non-current loans and borrowings

2025
£

Other borrowings

220,000

12

Dividends

2025

£

Interim dividend of £25,000.00 per ordinary share

50,000

 

13

Related party transactions

Transactions with directors

2025

At 18 August 2023
£

Advances to director
£

At 31 January 2025
£

Mr Ben Harris

Ben Harris

-

11,630

11,630

Mrs Laura Harris

Laura Harris

-

10,074

10,074

Directors' remuneration

The directors' remuneration for the period was as follows:

2025
£

Remuneration

34,893

Contributions paid to money purchase schemes

54,000

88,893

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

Dividends paid to directors

2025
£

Mr Ben Harris

Ben Harris

25,000

 

Mrs Laura Harris

Laura Harris

25,000

 

14

Transition to FRS 102

Balance Sheet at
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Ticklemore Cheese Ltd

Notes to the Unaudited Financial Statements for the Period from 18 August 2023 to 31 January 2025

Balance Sheet at
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-