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Company registration number:
00456281
Granelli's Cream Ices (Macclesfield) Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2024
Granelli's Cream Ices (Macclesfield) Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Granelli's Cream Ices (Macclesfield) Limited
Year ended
31 December 2024
As described on the statement of financial position, the Board of Directors of
Granelli's Cream Ices (Macclesfield) Limited
are responsible for the preparation of the
financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Sutton & Co Accountants Ltd
25 Park Street
Macclesfield
Cheshire
SK11 6SS
United Kingdom
Date:
4 June 2025
Granelli's Cream Ices (Macclesfield) Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
269,205
 
271,339
 
Current assets    
Stocks
19,767
 
16,652
 
Debtors 6
3,702
 
3,512
 
Cash at bank and in hand
705
 
548
 
24,174
 
20,712
 
Creditors: amounts falling due within one year 7
(86,292
)
(70,702
)
Net current liabilities
(62,118
)
(49,990
)
Total assets less current liabilities 207,087   221,349  
Creditors: amounts falling due after more than one year 8
(2,242
)
(6,627
)
Provisions for liabilities
(57,685
)
(57,685
)
Net assets
147,160
 
157,037
 
Capital and reserves    
Called up share capital
1,500
 
1,500
 
Revaluation reserve
186,814
 
186,814
 
Other reserves
740
 
740
 
Profit and loss account
(41,894
)
(32,017
)
Shareholders funds
147,160
 
157,037
 
For the 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.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
29 May 2025
, and are signed on behalf of the board by:
Mr J A Devoti
Director
Company registration number:
00456281
Granelli's Cream Ices (Macclesfield) Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
74 Newton Street
,
Macclesfield
,
Cheshire
,
SK11 6RD
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The company meets its day to day working requirements through a bank overdraft facility, which is repayable on demand.. Additionally, loans have been provided from certain of the directors. The directors consider it appropriate to prepare the financial statements on a going concern basis, having confirmed their continuing support and that of the company's bankers.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net Value Added Tax.
Revenue from the sale of goods is recognised when they are sold.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation.
The revalued freehold land and buildings are not depreciated as the directors are of the opinion that their value is in excess of the current valuation based on an open market, existing use , basis.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
10% Reducing balance basis
Motor vehicles
25% straight line10%/25% Reducing balance basis
Land and buildings
Not depreciated

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.
Deferred taxation provided on the revaluation reserve arising on the revaluation of the Freehold land and buildings is not charged to the profit and loss account.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4 Average number of employees

The average number of persons employed by the company during the year was
13
(2023:
11
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 January 2024
and
31 December 2024
250,000
 
178,455
 
428,455
 
Depreciation      
At
1 January 2024
-  
157,116
 
157,116
 
Charge -  
2,134
 
2,134
 
At
31 December 2024
-  
159,250
 
159,250
 
Carrying amount      
At
31 December 2024
250,000
 
19,205
 
269,205
 
At 31 December 2023
250,000
 
21,339
 
271,339
 

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
Land and buildingsLand and buildings
20242023
££
Aggregate historical cost 5,501   5,501  
Carrying amount 5,501   5,501  
The freehold land and buildings were revalued to £250,000 on 29 January 2003 by Barker & Co, an independent firm of Estate Agents and Valuers, on an open market, existing use basis. The directors are not aware of any material change in value since the date of the valuation.

6 Debtors

20242023
££
Other debtors
3,702
 
3,512
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
37,629
 
37,084
 
Taxation and social security
723
 
1,027
 
Other creditors
47,940
 
32,591
 
86,292
 
70,702
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
2,242
 
6,627