Registered number
08308535
ITALIAN BEAR CHOCOLATE LIMITED
Filleted Accounts
31 December 2024
ITALIAN BEAR CHOCOLATE LIMITED
Registered number: 08308535
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 157,924 158,111
Current assets
Stocks 18,233 18,000
Debtors 4 85,624 100,702
Cash at bank and in hand 552,297 395,836
656,154 514,538
Creditors: amounts falling due within one year 5 (483,489) (376,934)
Net current assets 172,665 137,604
Total assets less current liabilities 330,589 295,715
Creditors: amounts falling due after more than one year 6 (29,323) (48,724)
Provisions for liabilities (35,022) (35,022)
Net assets 266,244 211,969
Capital and reserves
Called up share capital 100 100
Profit and loss account 266,144 211,869
Shareholders' funds 266,244 211,969
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andrea Alinovi
Director
Approved by the board on 15 September 2025
ITALIAN BEAR CHOCOLATE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 18% RBM
Fixtures, fittings, tools and equipment 18% RBM
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 51 49
3 Tangible fixed assets
Property Leasehold Fixture & Fittings Plant and machinery Computer Equipment Total
£ £ £ £ £
Cost
At 1 January 2024 264,840 82,712 137,665 7,173 492,390
Additions - 12,516 22,160 - 34,676
At 31 December 2024 264,840 95,228 159,825 7,173 527,066
Depreciation
At 1 January 2024 199,184 35,046 94,196 5,853 334,279
Charge for the year 15,015 8,102 11,086 660 34,863
At 31 December 2024 214,199 43,148 105,282 6,513 369,142
Net book value
At 31 December 2024 50,641 52,080 54,543 660 157,924
At 31 December 2023 65,656 47,666 43,469 1,320 158,111
4 Debtors 2024 2023
£ £
Prepayments and accrued income 17,500 4,943
Amount owned by connected people 18,400 18,400
Square clearing account 17,124 29,759
Rent Deposits 32,600 47,600
85,624 100,702
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 5,432
Trade creditors 148,743 121,489
Net wages Payable 79,665 66,939
Pension Payable 82,769 2,087
VAT 107,701 98,869
Corporation Tax 38,610 54,797
Accrued Expenses - 11,400
Taxation and social security costs 26,001 15,671
Other creditors - 250
483,489 376,934
6 Creditors: amounts falling due after one year 2024 2023
£ £
Director Loan Account 477 19,156
Bank loans 28,846 29,568
29,323 48,724
7 Pension commitments
The Company operate defined contribution scheme for Directors and Staffs.The scheme fund are held sepaarateley from those company in an independently adminstered fund.
8 Other information
ITALIAN BEAR CHOCOLATE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
41 Broadwick Street
London
W1F 9QL
ITALIAN BEAR CHOCOLATE LIMITED 08308535 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts July 2024 Andrea Alinovi No description of principal activity 08308535 2023-01-01 2023-12-31 08308535 core:WithinOneYear 2023-12-31 08308535 core:AfterOneYear 2023-12-31 08308535 core:ShareCapital 2023-12-31 08308535 core:RetainedEarningsAccumulatedLosses 2023-12-31 08308535 2024-01-01 2024-12-31 08308535 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08308535 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08308535 bus:Director40 2024-01-01 2024-12-31 08308535 core:LandBuildings 2024-01-01 2024-12-31 08308535 core:PlantMachinery 2024-01-01 2024-12-31 08308535 core:Vehicles 2024-01-01 2024-12-31 08308535 countries:England 2024-01-01 2024-12-31 08308535 bus:FRS102 2024-01-01 2024-12-31 08308535 bus:FilletedAccounts 2024-01-01 2024-12-31 08308535 2024-12-31 08308535 core:WithinOneYear 2024-12-31 08308535 core:AfterOneYear 2024-12-31 08308535 core:ShareCapital 2024-12-31 08308535 core:RetainedEarningsAccumulatedLosses 2024-12-31 08308535 core:LandBuildings 2024-12-31 08308535 core:PlantMachinery 2024-12-31 08308535 core:Vehicles 2024-12-31 08308535 2023-12-31 08308535 core:LandBuildings 2023-12-31 08308535 core:PlantMachinery 2023-12-31 08308535 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure