Registered number
07050273
Victoria's Cheese Ltd
Filleted Accounts
31 October 2024
Victoria's Cheese Ltd
Registered number: 07050273
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,104 -
Current assets
Stocks 13,643 -
Debtors 4 5,336 100
Cash at bank and in hand 2,526 -
21,505 100
Creditors: amounts falling due within one year 5 (44,723) -
Net current (liabilities)/assets (23,218) 100
Total assets less current liabilities (10,114) 100
Creditors: amounts falling due after more than one year 6 (19,558) -
Net (liabilities)/assets (29,672) 100
Capital and reserves
Called up share capital 100 100
Profit and loss account (29,772) -
Shareholders' funds (29,672) 100
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.
V Dunthorne
Director
Approved by the board on 14 May 2025
Victoria's Cheese Ltd
Notes to the Accounts
for the year ended 31 October 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 over 5-10 years
Fixtures, fittings, tools and equipment over 5-10 years
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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
Additions 3,702 13,029 16,731
At 31 October 2024 3,702 13,029 16,731
Depreciation
Charge for the year 370 3,257 3,627
At 31 October 2024 370 3,257 3,627
Net book value
At 31 October 2024 3,332 9,772 13,104
4 Debtors 2024 2023
£ £
Other debtors 5,336 100
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,736 -
Trade creditors 3,717 -
Taxation and social security costs 110 -
Other creditors 36,160 -
44,723 -
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,558 -
7 Going concern
The company is being supported by funds from the directors who do not, at this time, have any intention of withdrawing that support.
8 Controlling party
The company is controlled by the directors; V and P Dunthorne.
9 Other information
Victoria's Cheese Ltd is a private company limited by shares and incorporated in England. Its registered office is:
First Floor, 12 St. John's Way
St. John's Business Estate
Downham Market
Norfolk
PE38 0QQ
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