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No description of principal activity
2024-02-01
Sage Accounts Production Advanced 2023 - FRS102_2023
6,634
6,617
4
6,621
13
17
21,344
623
20,721
20,721
21,344
xbrli:pure
xbrli:shares
iso4217:GBP
3500151
2024-02-01
2024-12-31
3500151
2024-12-31
3500151
2024-01-31
3500151
2023-02-01
2024-01-31
3500151
2024-01-31
3500151
2023-01-31
3500151
core:FurnitureFittings
2024-02-01
2024-12-31
3500151
bus:OrdinaryShareClass1
2024-02-01
2024-12-31
3500151
bus:Director2
2024-02-01
2024-12-31
3500151
core:FurnitureFittings
2024-01-31
3500151
core:FurnitureFittings
2024-12-31
3500151
core:WithinOneYear
2024-12-31
3500151
core:WithinOneYear
2024-01-31
3500151
core:UKTax
2024-02-01
2024-12-31
3500151
core:UKTax
2023-02-01
2024-01-31
3500151
core:ShareCapital
2024-12-31
3500151
core:ShareCapital
2024-01-31
3500151
core:SharePremium
2024-12-31
3500151
core:SharePremium
2024-01-31
3500151
core:RetainedEarningsAccumulatedLosses
2024-12-31
3500151
core:RetainedEarningsAccumulatedLosses
2024-01-31
3500151
core:CostValuation
core:Non-currentFinancialInstruments
2024-01-31
3500151
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2024-12-31
3500151
core:CostValuation
core:Non-currentFinancialInstruments
2024-12-31
3500151
core:Non-currentFinancialInstruments
2024-12-31
3500151
core:Non-currentFinancialInstruments
2024-01-31
3500151
core:FurnitureFittings
2024-01-31
3500151
bus:SmallEntities
2024-02-01
2024-12-31
3500151
bus:AuditExemptWithAccountantsReport
2024-02-01
2024-12-31
3500151
bus:SmallCompaniesRegimeForAccounts
2024-02-01
2024-12-31
3500151
bus:PrivateLimitedCompanyLtd
2024-02-01
2024-12-31
3500151
bus:FullAccounts
2024-02-01
2024-12-31
3500151
bus:OrdinaryShareClass1
2024-12-31
3500151
bus:OrdinaryShareClass1
2024-01-31
COMPANY REGISTRATION NUMBER:
3500151
|
Filleted Unaudited Financial Statements |
|
Period from 1 February 2024 to 31 December 2024
|
Statement of financial position |
1 |
|
|
|
Notes to the financial statements |
2 to 5 |
|
|
|
Statement of Financial Position |
|
31 December 2024
|
31 Dec 24 |
31 Jan 24 |
|
Note |
£ |
£ |
|
|
|
Fixed assets
|
Tangible assets |
5 |
13 |
17 |
|
Investments |
6 |
20,721 |
21,344 |
|
-------- |
-------- |
|
20,734 |
21,361 |
|
|
|
|
Current assets
|
Stocks |
182,500 |
182,000 |
|
Debtors |
7 |
34,727 |
30,239 |
|
Cash at bank and in hand |
198,987 |
110,050 |
|
--------- |
--------- |
|
416,214 |
322,289 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
70,402) |
(
41,049) |
|
--------- |
--------- |
|
Net current assets |
345,812 |
281,240 |
|
--------- |
--------- |
|
Total assets less current liabilities |
366,546 |
302,601 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
9 |
200 |
200 |
|
Share premium account |
9,902 |
9,902 |
|
Profit and loss account |
356,444 |
292,499 |
|
--------- |
--------- |
|
Shareholders funds |
366,546 |
302,601 |
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period 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 period 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 were approved by the
board of directors
and authorised for issue on
13 August 2025
, and are signed on behalf of the board by:
|
Mr CA Van Der Spoel |
|
Director |
|
Company registration number: 3500151
|
Notes to the Financial Statements |
|
Period from 1 February 2024 to 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Castle Villa, Hayscastle, Haverfordwest, Pembrokeshire, SA62 5AA. During the period the company changed its year end from 31 January 2025 to 31 December 2024 to align with other group companies, as a result the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
2.
Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures, Fittings & Equipment |
- |
25% reducing balance |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is computed on a first in first out basis. Net realisable value is based on estimated selling price less the estimated cost of disposal.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Tax on profit
Major components of tax expense
|
Period from |
|
|
1 Feb 24 to |
Year to |
|
31 Dec 24 |
31 Jan 24 |
|
£ |
£ |
|
|
|
Current tax:
|
UK current tax expense |
32,650 |
10,576 |
|
-------- |
-------- |
|
Tax on profit |
32,650 |
10,576 |
|
-------- |
-------- |
|
|
|
5.
Tangible assets
|
Fixtures, Fittings & Equipment |
Total |
|
£ |
£ |
|
Cost |
|
|
|
At 1 February 2024 and 31 December 2024 |
6,634 |
6,634 |
|
------- |
------- |
|
Depreciation |
|
|
|
At 1 February 2024 |
6,617 |
6,617 |
|
Charge for the period |
4 |
4 |
|
------- |
------- |
|
At 31 December 2024 |
6,621 |
6,621 |
|
------- |
------- |
|
Carrying amount |
|
|
|
At 31 December 2024 |
13 |
13 |
|
------- |
------- |
|
At 31 January 2024 |
17 |
17 |
|
------- |
------- |
|
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 February 2024 |
21,344 |
|
Revaluations |
(
623) |
|
-------- |
|
At 31 December 2024 |
20,721 |
|
-------- |
|
Impairment |
|
|
At 1 February 2024 and 31 December 2024 |
– |
|
-------- |
|
|
|
Carrying amount |
|
|
At 31 December 2024 |
20,721 |
|
-------- |
|
At 31 January 2024 |
21,344 |
|
-------- |
|
|
The company has a 100% subsidiary, Frio Deutschland GmbH, a company registered in Germany which makes sales of Frio cooling wallets to the german market. Under the provision of section 398 of the Companies Act 2006, the company is exempt from preparing consolidated accounts and has not done so. Therefore, the accounts show information about the company as an individual entity.
7.
Debtors
|
31 Dec 24 |
31 Jan 24 |
|
£ |
£ |
|
Trade debtors |
10,598 |
4,335 |
|
Other debtors |
24,129 |
25,904 |
|
-------- |
-------- |
|
34,727 |
30,239 |
|
-------- |
-------- |
|
|
|
Other debtors include an amount of £Nil (31/01/2024 - £Nil) falling due after more than one year.
8.
Creditors:
amounts falling due within one year
|
31 Dec 24 |
31 Jan 24 |
|
£ |
£ |
|
Corporation tax |
32,650 |
10,576 |
|
Other creditors |
37,752 |
30,473 |
|
-------- |
-------- |
|
70,402 |
41,049 |
|
-------- |
-------- |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
31 Dec 24 |
31 Jan 24 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
200 |
200 |
200 |
200 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
Related party transactions
The company paid rent of £6,800 (31/01/2024 - £6,500) and management fees of £35,000 (31/01/2024 - £35,000) to
Mr CA Van Der Spoel
, a director of the company. The company paid dividends of £34,000 (31/01/2024 - £30,000) to the shareholders.