Registration number: 02884763

The Original Cheddar Cheese Co. Ltd.

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 10

The Original Cheddar Cheese Co. Ltd.

(Registration number: 02884763)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	392	549
Tangible assets	5	208,028	209,593
		208,420	210,142
Current assets
Stocks	6	38,650	34,700
Debtors	7	172,078	194,430
Cash at bank and in hand		91,991	91,949
		302,719	321,079
Creditors: Amounts falling due within one year	8	(164,653)	(149,005)
Net current assets		138,066	172,074
Total assets less current liabilities		346,486	382,216
Creditors: Amounts falling due after more than one year	8	(74,369)	(120,534)
Provisions for liabilities		(12,418)	(12,862)
Net assets		259,699	248,820
Capital and reserves
Called up share capital		2	2
Retained earnings		259,697	248,818
Shareholders' funds		259,699	248,820

The Original Cheddar Cheese Co. Ltd.

(Registration number: 02884763)
Balance Sheet as at 31 December 2024

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 18 September 2025 and signed on its behalf by:
 

Mr IR Keane Director

The Original Cheddar Cheese Co. Ltd.

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:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH
UK

The principal place of business is:
The Cliffs
Cheddar Gorge
Cheddar
Somerset
BS27 3QE

These financial statements were authorised for issue by the Board on 18 September 2025.

2	Accounting policies

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.

The financial statments are prepared in Sterling, which is the functional currency of the company, and rounded to the nearest £.

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.

Going concern

The financial statements have been prepared on a going concern basis.

The Original Cheddar Cheese Co. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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 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.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquiring and bringing the assets into use.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website costs	20% Straight line

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:

The Original Cheddar Cheese Co. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class	Depreciation method and rate
Freehold property	2% Straight line
Improvements to property	10% Straight line
Plant and machinery	15% Reducing balance
Fixtures and fittings	15% Reducing balance
Motor vehicles	25% Reducing balance
Computer equipment	15% Reducing balance

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 stocks 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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

The Original Cheddar Cheese Co. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

A 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.

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.

The Original Cheddar Cheese Co. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 27 (2023 - 28).

4	Intangible assets

	Website costs  £	Total £
Cost or valuation
At 1 January 2024	784	784
At 31 December 2024	784	784
Amortisation
At 1 January 2024	235	235
Amortisation charge	157	157
At 31 December 2024	392	392
Carrying amount
At 31 December 2024	392	392
At 31 December 2023	549	549

The Original Cheddar Cheese Co. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Freehold property & improvements £	Plant and machinery £	Fixtures and fittings £	Motor vehicles  £	Computer equipment £	Total £
Cost or valuation
At 1 January 2024	230,948	51,431	43,290	31,500	7,086	364,255
Additions	-	8,174	2,157	-	973	11,304
At 31 December 2024	230,948	59,605	45,447	31,500	8,059	375,559
Depreciation
At 1 January 2024	70,219	24,150	31,152	24,025	5,116	154,662
Charge for the year	3,915	4,720	2,058	1,869	307	12,869
At 31 December 2024	74,134	28,870	33,210	25,894	5,423	167,531
Carrying amount
At 31 December 2024	156,814	30,735	12,237	5,606	2,636	208,028
At 31 December 2023	160,729	27,281	12,138	7,475	1,970	209,593

Included within the net book value of land and buildings above is £156,814 (2023 - £160,729) in respect of freehold land and buildings.
 

6

Stocks

	2024 £	2023 £
Stocks	38,650	34,700

7

Debtors

	2024 £	2023 £
Other debtors	172,078	194,430
	172,078	194,430

The Original Cheddar Cheese Co. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Due within one year	Note	2024 £	2023 £
Bank loans and overdrafts	9	24,000	27,274
Trade creditors		32,962	38,734
Social security and other taxes		103,978	80,018
Other creditors		720	609
Accruals		2,993	2,370
		164,653	149,005
Due after one year
Loans and borrowings	9	74,369	120,534