REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 November 2021 |
for |
DOUGH RE MI LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 November 2021 |
for |
DOUGH RE MI LIMITED |
DOUGH RE MI LIMITED (REGISTERED NUMBER: SC275559) |
Contents of the Financial Statements |
for the Year Ended 30 November 2021 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
DOUGH RE MI LIMITED (REGISTERED NUMBER: SC275559) |
Balance Sheet |
30 November 2021 |
2021 | 2020 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Creditors |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Retained earnings |
Shareholders' funds |
DOUGH RE MI LIMITED (REGISTERED NUMBER: SC275559) |
Balance Sheet - continued |
30 November 2021 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
DOUGH RE MI LIMITED (REGISTERED NUMBER: SC275559) |
Notes to the Financial Statements |
for the Year Ended 30 November 2021 |
1. | Statutory information |
Dough Re Mi Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
Turnover from the baking & wholesaling of bread and other related products is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer and the amount of turnover can be measured reliably. |
Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
Interest receivable |
Interest income is recognised using the effective interest method. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Tenant's improvement | - Straight line over 5 years |
Furniture, fittings & equipment | - 25% on reducing balance |
Van | - 25% on reducing balance |
Motor vehicle | - 25% straight line |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
DOUGH RE MI LIMITED (REGISTERED NUMBER: SC275559) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
2. | Accounting policies - continued |
Stocks |
Stocks are stated 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 stock to its present location and condition. Cost is calculated using first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Taxation |
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred taxation represents the future taxation consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits. |
Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
Pension costs and other post-retirement benefits |
The company operates money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year. |
Hire purchase and leases |
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 shorter. |
The interest element of the obligations is charged to profit and loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Bank and cash |
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
3. | Employees and directors |
The average number of employees during the year was |
DOUGH RE MI LIMITED (REGISTERED NUMBER: SC275559) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
4. | Tangible fixed assets |
Furniture, |
fittings |
& equipment | Van | Totals |
£ | £ | £ |
Cost |
At 1 December 2020 |
Additions |
At 30 November 2021 |
Depreciation |
At 1 December 2020 |
Charge for year |
At 30 November 2021 |
Net book value |
At 30 November 2021 |
At 30 November 2020 |
5. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
Director's loan | - | 1,475 |
6. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Bank overdraft |
Hire purchase contracts |
Trade creditors |
Corporation tax |
Taxation and social security |
Bank loan | 600 | 150 |
Director's loan | 40 | - |
Other creditors and accruals |
The director's loan is unsecured, interest free and carries no schedule of repayment. |
7. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
Bank loans |
Hire purchase contracts |
DOUGH RE MI LIMITED (REGISTERED NUMBER: SC275559) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
8. | Secured debts |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Hire purchase contracts | 14,444 | - |
The hire purchase contracts are secured over the assets concerned. |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | £1.00 | 100 | 100 |
10. | Other financial commitments |
At 30 November 2021, the company had minimum lease payments under a non-cancellable property lease over its remaining 20 months totalling £6,500. |