Registration number:
The Cornish Ice Cream Company Limited
for the Year Ended 31 December 2024
The Cornish Ice Cream Company Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Cornish Ice Cream Company Limited
Company Information
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Director: |
Mrs L A Leno |
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Registered office: |
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Registered number: |
06968639 |
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Accountants: |
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The Cornish Ice Cream Company Limited
(Registration number: 06968639)
Balance Sheet as at 31 December 2024
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Note |
31.12.24 |
31.12.23 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Tangible assets |
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CURRENT ASSETS |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
24,930 |
24,281 |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors |
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Net liabilities |
( |
( |
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CAPITAL AND RESERVES |
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Called up share capital |
100 |
100 |
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Profit and loss account |
(17,676) |
(28,291) |
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Shareholders' deficit |
(17,576) |
(28,191) |
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For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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The Cornish Ice Cream Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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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:
England
These financial statements were authorised for issue by the
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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.
The presentational currency is Pound Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis. However, the balance sheet shows negative equity.
The company is dependent on the continued support of its shareholders, which is expected to continue for at least the next twelve months. As a result, the directors feel it is appropriate to prepare the financial statements on agoing concern basis.
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.
The Cornish Ice Cream Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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Accounting policies (continued) |
Tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except tothe 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 orsubstantively 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 balancesheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different fromthose 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 thetiming difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that theywill be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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:
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Asset class |
Depreciation method and rate |
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Fixture and fittings |
25% straight line basis |
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Plant nd machinery |
25% straight line basis |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, was being amortised evenly over its estimated useful life of five years.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measuredat cost
less any accumulated amortisation and any accumulated impairment losses.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the periodof thelease
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3. |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
The Cornish Ice Cream Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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4. |
Intangible assets |
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Goodwill |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
- |
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5. |
Tangible assets |
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Fixtures and fittings |
Office equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
- |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
- |
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At 31 December 2023 |
- |
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6. |
Debtors |
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Current |
31.12.24 |
31.12.23 |
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Other debtors |
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Included in other debtors is a loan of £8,143 made to a company under common control. No interest or repayment terms have been set.
The Cornish Ice Cream Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)
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7. |
Creditors |
Creditors: amounts falling due within one year
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Note |
31.12.24 |
31.12.23 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Accruals and deferred income |
- |
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Other creditors |
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Included in other creditors is £15,563 due to the director, for which no interest or repayment terms have been set.
Creditors: amounts falling due after more than one year
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Note |
31.12.24 |
31.12.23 |
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Due after one year |
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Loans and borrowings |
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