Company No: 04997141 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	21,824		23,206
Tangible assets	4	289,218		383,134
		311,042		406,340
Current assets
Stocks		48,546		25,000
Debtors	5	100,470		108,724
Cash at bank and in hand		353,127		135,722
		502,143		269,446
Creditors: amounts falling due within one year	6	( 693,763)		( 655,692)
Net current liabilities		(191,620)		(386,246)
Total assets less current liabilities		119,422		20,094
Creditors: amounts falling due after more than one year	7	( 5,285)		( 70,077)
Provision for liabilities		( 49,044)		( 27,641)
Net assets/(liabilities)		65,093		( 77,624)
Capital and reserves
Called-up share capital	8	100		100
Share premium account		7,326		7,326
Profit and loss account		57,667		( 85,050 )
Total shareholders' funds/(deficit)		65,093		( 77,624)

For the financial year ending 30 April 2025 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Ceylon 1 Limited (registered number: 04997141) were approved and authorised for issue by the Board of Directors on 26 November 2025. They were signed on its behalf by:

Mr R Green Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ceylon 1 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Mentmore Studios/Bakery, 11A Argall Avenue, London, E10 7QE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

20 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Computer equipment	4 years straight line
Other property, plant and equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is determined using the first in, first out (FIFO) method.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	93		104

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 May 2024	27,654		27,654
At 30 April 2025	27,654		27,654
Accumulated amortisation
At 01 May 2024	4,448		4,448
Charge for the financial year	1,382		1,382
At 30 April 2025	5,830		5,830
Net book value
At 30 April 2025	21,824		21,824
At 30 April 2024	23,206		23,206

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£		£
Cost
At 01 May 2024	415,356		893,377		105,625		396,299		0		29,940		1,840,597
Additions	0		500		12,940		5,030		907		0		19,377
At 30 April 2025	415,356		893,877		118,565		401,329		907		29,940		1,859,974
Accumulated depreciation
At 01 May 2024	354,629		729,417		77,964		266,372		0		29,081		1,457,463
Charge for the financial year	28,325		41,128		10,151		33,001		15		673		113,293
At 30 April 2025	382,954		770,545		88,115		299,373		15		29,754		1,570,756
Net book value
At 30 April 2025	32,402		123,332		30,450		101,956		892		186		289,218
At 30 April 2024	60,727		163,960		27,661		129,927		0		859		383,134

5. Debtors

	2025		2024
	£		£
Trade debtors	7,139		27,045
Other debtors	93,331		81,679
	100,470		108,724

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	19,511		133,134
Trade creditors	235,974		256,894
Taxation and social security	183,010		91,355
Other creditors	255,268		174,309
	693,763		655,692

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	5,285		70,077

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50,000 Ordinary A shares of £ 0.001 each	50		50
50,000 Ordinary B shares of £ 0.001 each	50		50
	100		100