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Registration number: 03526173

Classic Desserts Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 December 2024

 

Classic Desserts Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Classic Desserts Limited

(Registration number: 03526173)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

495,534

 

571,714

Current assets

   

 

Stocks

736,982

 

833,336

 

Debtors

5

1,219,444

 

1,116,305

 

Cash at bank and in hand

 

72,888

 

192,098

 

 

2,029,314

 

2,141,739

 

Creditors: Amounts falling due within one year

6

(1,187,388)

 

(1,359,883)

 

Net current assets

   

841,926

 

781,856

Total assets less current liabilities

   

1,337,460

 

1,353,570

Creditors: Amounts falling due after more than one year

6

 

(691,363)

 

(796,486)

Provisions for liabilities

 

(119,511)

 

(52,169)

Net assets

   

526,586

 

504,915

Capital and reserves

   

 

Called up share capital

7

262,002

 

262,002

 

Profit and loss account

264,584

 

242,913

 

Total equity

   

526,586

 

504,915

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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 27 June 2025 and signed on its behalf by:
 

.........................................
Mr B.D. Shamash
Company secretary and director

 

Classic Desserts Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

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:
Blencathra House
North Lakes Business Park
Flusco
Penrith
Cumbria
CA11 0JG

These financial statements were authorised for issue by the Board on 27 June 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.

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

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.

 

Classic Desserts Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

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

Between 10 to 25% on cost

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Classic Desserts Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

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 year, was 66 (2023 - 67).

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

26,381

1,796,135

1,822,516

Additions

-

86,012

86,012

Disposals

-

(826,562)

(826,562)

At 31 December 2024

26,381

1,055,585

1,081,966

Depreciation

At 1 January 2024

22,265

1,228,537

1,250,802

Charge for the year

2,537

159,655

162,192

Eliminated on disposal

-

(826,562)

(826,562)

At 31 December 2024

24,802

561,630

586,432

Carrying amount

At 31 December 2024

1,579

493,955

495,534

At 31 December 2023

4,116

567,598

571,714

 

Classic Desserts Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

5

Debtors

2024
£

2023
£

Trade debtors

789,757

684,633

Amounts owed by related parties

380,976

380,690

Other debtors

40,986

36,942

Prepayments

7,725

14,040

1,219,444

1,116,305

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

252,216

402,594

Trade creditors

 

725,033

778,659

Taxation and social security

 

38,743

42,540

Other creditors

 

171,396

136,090

 

1,187,388

1,359,883

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

691,363

796,486


Creditors include bank loans and borrowings and net obligations under finance lease and hire purchase
contracts which are secured of £943,579 (2023 - £1,199,080). Bank loans and borrowings are secured by a fixed and floating charge over the assets of the company. Finance lease and hire purchase contracts are secured upon the assets to which they relate.

Creditors include bank loans repayable by instalments of £48,600 (2023 - £15,476) due after more than five years.

 

Classic Desserts Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 December 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

33,000

33,000

33,000

33,000

Ordinary B of £1 each

5,000

5,000

5,000

5,000

Ordinary C of £1 each

1

1

1

1

Ordinary D of £1 each

1

1

1

1

Redeemable convertible preference shares of £1 each

224,000

224,000

224,000

224,000

 

262,002

262,002

262,002

262,002

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

249,617

392,024

Hire purchase contracts

2,599

10,570

252,216

402,594

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

691,363

793,886

Hire purchase contracts

-

2,600

691,363

796,486

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £277,700 (2023 - £286,650).

10

Parent and ultimate parent undertaking

The company's immediate parent is Classic Desserts Topco Ltd, incorporated in England and Wales.

 The ultimate controlling party is Klaro Partners Ltd .