REGISTERED NUMBER: 13070929 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHARLES AND IVY LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

258,124

160,015

Tangible assets

5

1,070,358

786,720

1,328,482

946,735

CURRENT ASSETS

Stocks

2,560,166

2,367,577

Debtors

6

1,653,236

790,729

Cash at bank

333,245

400,882

4,546,647

3,559,188

CREDITORS

Amounts falling due within one year

7

(5,079,934

)

(4,046,513

)

NET CURRENT LIABILITIES

(533,287

)

(487,325

)

TOTAL ASSETS LESS CURRENT LIABILITIES

795,195

459,410

CREDITORS

Amounts falling due after more than one year

8

(483,337

)

(193,314

)

NET ASSETS

311,858

266,096

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

999,000

999,000

Retained earnings

(688,142

)

(733,904

)

311,858

266,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

N L Treanor - Director

1.	STATUTORY INFORMATION

Charles and Ivy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

13070929

Registered office:

2 Opus Close

Carrington

Manchester

M31 4RQ

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

over the life of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful life. Those held under finance leases are depreciated over their estimated useful lives or lease term, which ever is shorter.

Interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payment is treated as a liability.

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.

Going concern

The director has a reasonable expectation that the Company has adequate resources to continue in existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2023 - 46 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

296,626

Additions

218,250

At 31 December 2024

514,876

AMORTISATION

At 1 January 2024

136,611

Charge for year

120,141

At 31 December 2024

256,752

NET BOOK VALUE

At 31 December 2024

258,124

At 31 December 2023

160,015

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2024

17,219

757,739

31,822

Additions

1,076

101,109

4,987

Disposals

-

-

-

At 31 December 2024

18,295

858,848

36,809

DEPRECIATION

At 1 January 2024

4,566

296,353

13,422

Charge for year

1,673

128,966

5,582

Eliminated on disposal

-

-

-

At 31 December 2024

6,239

425,319

19,004

NET BOOK VALUE

At 31 December 2024

12,056

433,529

17,805

At 31 December 2023

12,653

461,386

18,400

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

513,462

54,291

1,374,533

Additions

650,099

20,799

778,070

Disposals

(417,492

)

(999

)

(418,491

)

At 31 December 2024

746,069

74,091

1,734,112

DEPRECIATION

At 1 January 2024

236,084

37,388

587,813

Charge for year

148,782

14,416

299,419

Eliminated on disposal

(223,409

)

(69

)

(223,478

)

At 31 December 2024

161,457

51,735

663,754

NET BOOK VALUE

At 31 December 2024

584,612

22,356

1,070,358

At 31 December 2023

277,378

16,903

786,720

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

130,050

498,552

628,602

Additions

-

648,421

648,421

Disposals

-

(403,647

)

(403,647

)

At 31 December 2024

130,050

743,326

873,376

DEPRECIATION

At 1 January 2024

27,094

228,188

255,282

Charge for year

25,740

147,714

173,454

Eliminated on disposal

-

(215,266

)

(215,266

)

At 31 December 2024

52,834

160,636

213,470

NET BOOK VALUE

At 31 December 2024

77,216

582,690

659,906

At 31 December 2023

102,956

270,364

373,320

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

69,983

64,110

Other debtors

1,583,253

726,619

1,653,236

790,729

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 9)

153,154

127,206

Trade creditors

578,083

221,219

Taxation and social security

928,456

822,045

Other creditors

3,420,241

2,876,043

5,079,934

4,046,513

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 9)

483,337

193,314

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

153,154

127,206

Between one and five years

483,337

193,314

636,491

320,520

Non-cancellable

operating leases

2024

2023

£

£

Within one year

305,663

229,818

Between one and five years

69,946

262,325

375,609

492,143

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

636,491

320,520

11.	RELATED PARTY DISCLOSURES

At the balance sheet date, £2,511,812 (2023: £2,581,812) was owing to participating interests and included in other creditors. No interest has been charged in respect of this loan, which is repayable on demand.

At the balance sheet date, £302,100 (2023: NIL) was owing from the controlling party and included in other debtors. No interest has been charged in respect of this loan, which is repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Charles and Ivy Top Limited.