REGISTERED NUMBER: 06755963 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

PONG CHEESE LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

B N Lambourne

M H A March Smith

REGISTERED OFFICE:

11 Laura Place

Bath

BA2 4BL

REGISTERED NUMBER:

06755963 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pong Cheese Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pong Cheese Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pong Cheese Ltd and state those matters that we have agreed to state to the Board of Directors of Pong Cheese Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pong Cheese Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pong Cheese Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pong Cheese Ltd. You consider that Pong Cheese Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pong Cheese Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

29 September 2025

FIXED ASSETS

Tangible assets

4

3,319

14,015

CURRENT ASSETS

Stocks

38,460

47,300

Debtors

5

46,223

43,964

Cash at bank and in hand

94,054

127,951

178,737

219,215

CREDITORS

Amounts falling due within one year

6

179,358

200,684

NET CURRENT (LIABILITIES)/ASSETS

(621

)

18,531

TOTAL ASSETS LESS CURRENT LIABILITIES

2,698

32,546

CREDITORS

Amounts falling due after more than one year

7

-

(16,555

)

PROVISIONS FOR LIABILITIES

9

(618

)

(1,493

)

NET ASSETS

2,080

14,498

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,980

14,398

2,080

14,498

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 Income Statement has not been delivered.

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

M H A March Smith - Director

B N Lambourne - Director

1.	STATUTORY INFORMATION

Pong Cheese Ltd 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.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, recognised when the goods are dispatched.

Tangible fixed assets

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

Leasehold improvements

-

25% on cost

Plant and machinery

-

33% on cost and 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.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the assets if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

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 (2023 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

improvements

machinery

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

39,971

59,081

99,052

DEPRECIATION

At 1 January 2024

33,813

51,224

85,037

Charge for year

6,093

4,603

10,696

At 31 December 2024

39,906

55,827

95,733

NET BOOK VALUE

At 31 December 2024

65

3,254

3,319

At 31 December 2023

6,158

7,857

14,015

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,432

2,321

Other debtors

44,791

41,643

46,223

43,964

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

155,778

183,094

Taxation and social security

5,201

4,233

Other creditors

18,379

13,357

179,358

200,684

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

-

16,555

8.	SECURED DEBTS

HSBC Bank Plc hold a fixed and floating charge over all assets, including all of the property or undertaking of the company.

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

618

1,493

Deferred

tax

£

Balance at 1 January 2024

1,493

Accelerated capital allowances

(875

)

Balance at 31 December 2024

618

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

Value:

£

£

40

A Ordinary

£1

40

40

40

B Ordinary

£1

40

40

10

C Ordinary

£1

10

10

10

D Ordinary

£1

10

10

100

100

All classes of shares have full voting rights.

All classes of shares have differing rights to dividend payments depending on resolutions at directors meetings.

Shareholders for all classes of shares are entitled pari passu to participate in a distribution from a winding up of the company.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the directors owed the company £17,578 (2023: £19,581). During the year £33,681 was advanced and £35,684 was repaid. Interest has been charged at 2.25% and the loans are repayable on demand.

12.	LEASE COMMITMENTS

At the balance sheet date the company was committed to making operating lease payments totalling £10,783 (2023: £25,183)