REGISTERED NUMBER: SC122774 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

Island Cheese Company Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTORS:

Mrs M Kinniburgh

Mr G Kinniburgh

SECRETARY:

Mrs M Kinniburgh

REGISTERED OFFICE:

The Creamery

Home Farm

Brodick

Isle of Arran

KA27 8DD

REGISTERED NUMBER:

SC122774 (Scotland)

ACCOUNTANTS:

Burgoyne Carey

Chartered Accountants

Pavilion 2

3 Dava Street

Broomloan Road

Glasgow

G51 2JA

FIXED ASSETS

Tangible assets

4

96,053

111,259

CURRENT ASSETS

Stocks

65,014

77,062

Debtors

5

67,826

71,555

Cash at bank and in hand

121,439

179,816

254,279

328,433

CREDITORS

Amounts falling due within one year

6

47,779

48,171

NET CURRENT ASSETS

206,500

280,262

TOTAL ASSETS LESS CURRENT LIABILITIES

302,553

391,521

PROVISIONS FOR LIABILITIES

11,610

14,601

NET ASSETS

290,943

376,920

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

280,943

366,920

SHAREHOLDERS' FUNDS

290,943

376,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

Mr G Kinniburgh - Director

Mrs M Kinniburgh - Director

1.	STATUTORY INFORMATION

Island Cheese Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover represents amounts invoiced during the year net, exclusive of Value Added Tax.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

2% on cost

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

Motor

property

property

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1 March 2024

30,000

18,848

112,448

54,414

215,710

Additions

-

-

5,774

-

5,774

At 28 February 2025

30,000

18,848

118,222

54,414

221,484

DEPRECIATION

At 1 March 2024

-

12,668

53,659

38,124

104,451

Charge for year

-

1,610

12,592

6,778

20,980

At 28 February 2025

-

14,278

66,251

44,902

125,431

NET BOOK VALUE

At 28 February 2025

30,000

4,570

51,971

9,512

96,053

At 29 February 2024

30,000

6,180

58,789

16,290

111,259

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

50,065

66,440

Other debtors

5,450

-

VAT

12,311

5,115

67,826

71,555

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

25,128

14,030

Amounts owed to participating interests

17,670

6,070

Tax

(9,297

)

14,049

Pension creditor

1,115

1,205

Credit card

2,553

1,987

Accrued expenses

10,610

10,830

47,779

48,171

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.