REGISTERED NUMBER: 03933118 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CHEEKY RASCALS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Russell

S J Russell

SECRETARY:

S J Russell

REGISTERED OFFICE:

Liss Mill

Mill Road

Liss

Hampshire

GU33 6BD

REGISTERED NUMBER:

03933118 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Tangible assets

4

321,658

408,153

CURRENT ASSETS

Stocks

5

3,058,142

1,773,395

Debtors

6

1,679,720

1,569,039

Cash at bank

556,845

182,914

5,294,707

3,525,348

CREDITORS

Amounts falling due within one year

7

2,839,227

1,564,832

NET CURRENT ASSETS

2,455,480

1,960,516

TOTAL ASSETS LESS CURRENT LIABILITIES

2,777,138

2,368,669

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

2,777,038

2,368,569

SHAREHOLDERS' FUNDS

2,777,138

2,368,669

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

S J Russell - Director

1.	STATUTORY INFORMATION

Cheeky Rascals Limited is a private company, limited by shares , registered in England and Wales. 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.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive cash balances and no significant long term liabilities.

Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

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

Turnover is recognised at the point when the goods are dispatched to the end customer.

Turnover in relation to consultancy is invoiced monthly or quarterly following the provision of the service.

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.

Motor Vehicles

25% on Reducing balance

Fixtures & fittings

25% on Reducing balance

Computer equipment

33.33% on cost

Short leasehold

20% 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 Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Office

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2024

673,192

16,521

186,421

44,016

920,150

Additions

-

12,999

99,532

3,458

115,989

Disposals

-

(6,989

)

(35,000

)

(5,889

)

(47,878

)

At 31 December 2024

673,192

22,531

250,953

41,585

988,261

Depreciation

At 1 January 2024

370,147

7,615

101,226

33,009

511,997

Charge for year

134,639

3,275

36,101

8,195

182,210

Eliminated on disposal

-

(3,941

)

(17,773

)

(5,890

)

(27,604

)

At 31 December 2024

504,786

6,949

119,554

35,314

666,603

Net book value

At 31 December 2024

168,406

15,582

131,399

6,271

321,658

At 31 December 2023

303,045

8,906

85,195

11,007

408,153

5.

STOCKS

2024

2023

£

£

Stocks

3,058,142

1,773,395

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,204,989

860,012

Other debtors

235,088

173,406

VAT

61,416

-

Deferred tax asset

Accelerated capital allowances

52,068

-

Prepayments and accrued income

126,159

535,621

1,679,720

1,569,039

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

265,405

-

Other loans

-

270,394

Trade creditors

1,778,705

441,131

Corporation tax

253,458

95,814

VAT

-

323,769

Other creditors

124,283

103,888

Directors' loan accounts

188,279

86,247

Accruals and deferred income

229,097

243,589

2,839,227

1,564,832

The company holds five fixed and floating charges over various assets and undertakings of the company, registered at Companies House.

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

16,274

42,000

Between one and five years

8,690

-

In more than five years

8,510

-

33,474

42,000

The operating lease in relation to the property expired during the year and is being renegotiated at the date of signing the balance sheet.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

ORDINARY

£1

100

100

10.	RELATED PARTY DISCLOSURES

Mr and Mrs Russell

Joint Directors

During the year the company paid rent to Mr and Mrs S Russell totalling £11,430 (2023: £11,458) for use of home for business accommodation. At the balance sheet date, the total amount owing to the joint directors was £188,279 (2023: £86,247 owing to the directors).

The company paid the directors £50,000 (2023: £50,000) in relation to rent for the company's premises.

Izmi Ltd

A company over which Mr & Mrs Russell have influence but not control

At the balance sheet date, the company was owed £67,126 (2023: £78,368) by Izmi Ltd. This balance was provided against the year end, reducing this to £Nil (2023 £Nil). No interest has been charged on this balance. During the year, the company made sales to Izmi Ltd of £17,759 (2023: £9,073) and purchases from Izmi Ltd of £18,944 (2023: £21,129).

11.	ULTIMATE CONTROLLING PARTY

The company considers there to be no ultimate controlling party as at the balance sheet date.