Iscream Oxford Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08971038

ISCREAM OXFORD LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

ISCREAM OXFORD LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		5,727	11,795

Current assets

Stocks		36,187	14,972
Debtors	6	5,140	30,320
Cash at bank and in hand		15,875	3,789
		--------	--------
		57,202	49,081

Creditors: amounts falling due within one year	7	55,237		60,568
		--------		--------
Net current assets/(liabilities)			1,965	( 11,487)
			-------	--------
Total assets less current liabilities			7,692	308

Provisions

Taxation including deferred tax	1,432	–
	-------	----
Net assets	6,260	308
	-------	----

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		6,160	208
		-------	----
Shareholders funds		6,260	308
		-------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

ISCREAM OXFORD LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 28 December 2025 , and are signed on behalf of the board by:

G MacDonald

Director

Company registration number: 08971038

ISCREAM OXFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Northfield Shire Barn, Southmoor, Abingdon. The trading address is Covered Market, 113 The Market Street, Oxford.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax.

Taxation

Tax on income represents the sum of tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the note to the accounts because of items of that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using the tax rates that have been enacted or subsequently enacted by the end of the accounting period. 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 accounts. 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 timing differences reverse, based on current tax rates and laws.

Operating leases

Operating lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	6% straight line
Plant and machinery	-	10% straight line
Fixtures and fittings	-	20% reducing balance
Equipment	-	33 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Trade and other debtors

Trade and other debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Related parties

For the purposes of these financial statements, a party is considered to be related to the Company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the Company in making financial and operating policy decisions, or has joint control over the Company;

(ii) the Company and the party are subject to common control;

(iii) the party is an associate of the Company or a joint venture in which the Company is a venturer;

(iv) the party is a member of key management personnel of the Company or the Company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to in (i) or is an entity under the control,joint control or significant influence of such individuals; or close family members of an individual are those family members who it may be expected to influence, or be influenced by, that individual in their dealings with the entity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 18 (2024: 18 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	49,976	82,803	3,315	4,692	140,786
Additions	–	–	2,998	469	3,467
	--------	--------	-------	-------	---------
At 31 March 2025	49,976	82,803	6,313	5,161	144,253
	--------	--------	-------	-------	---------
Depreciation
At 1 April 2024	47,852	73,869	2,737	4,533	128,991
Charge for the year	265	8,249	715	306	9,535
	--------	--------	-------	-------	---------
At 31 March 2025	48,117	82,118	3,452	4,839	138,526
	--------	--------	-------	-------	---------
Carrying amount
At 31 March 2025	1,859	685	2,861	322	5,727
	--------	--------	-------	-------	---------
At 31 March 2024	2,124	8,934	578	159	11,795
	--------	--------	-------	-------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	–	21,934
Other debtors	5,140	8,386
	-------	--------
	5,140	30,320
	-------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	8,000	23,541
Corporation tax	28,412	21,483
Social security and other taxes	10,914	8,836
Pension creditor	759	2,727
Other creditors	7,152	3,981
	--------	--------
	55,237	60,568
	--------	--------

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	27,520	27,520
Later than 1 year and not later than 5 years	110,080	110,080
Later than 5 years	110,080	137,600
	---------	---------
	247,680	275,200
	---------	---------

10. Directors' advances, credits and guarantees

There was a balance owed by the Directors at 31 March 2024 of £2,245, which was repaid in full on 31 May 2024. There was no interest charged on the balance due.