The Nottingham Doughnut Co. Limited 09657241 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is manufacturing, retailing and distribution of doughnuts Digita Accounts Production Advanced 6.30.9574.0 true 09657241 2021-04-01 2022-03-31 09657241 2022-03-31 09657241 core:RetainedEarningsAccumulatedLosses 2022-03-31 09657241 core:ShareCapital 2022-03-31 09657241 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09657241 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 09657241 core:FurnitureFittingsToolsEquipment 2022-03-31 09657241 core:MotorVehicles 2022-03-31 09657241 core:OtherPropertyPlantEquipment 2022-03-31 09657241 bus:SmallEntities 2021-04-01 2022-03-31 09657241 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 09657241 bus:AbridgedAccounts 2021-04-01 2022-03-31 09657241 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 09657241 bus:RegisteredOffice 2021-04-01 2022-03-31 09657241 bus:Director2 2021-04-01 2022-03-31 09657241 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 09657241 bus:Agent1 2021-04-01 2022-03-31 09657241 core:FurnitureFittings 2021-04-01 2022-03-31 09657241 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 09657241 core:MotorVehicles 2021-04-01 2022-03-31 09657241 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 09657241 countries:EnglandWales 2021-04-01 2022-03-31 09657241 2021-03-31 09657241 core:FurnitureFittingsToolsEquipment 2021-03-31 09657241 core:MotorVehicles 2021-03-31 09657241 core:OtherPropertyPlantEquipment 2021-03-31 09657241 2020-04-01 2021-03-31 09657241 2021-03-31 09657241 core:RetainedEarningsAccumulatedLosses 2021-03-31 09657241 core:ShareCapital 2021-03-31 09657241 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 09657241 core:Non-currentFinancialInstruments core:AfterOneYear 2021-03-31 09657241 core:FurnitureFittingsToolsEquipment 2021-03-31 09657241 core:MotorVehicles 2021-03-31 09657241 core:OtherPropertyPlantEquipment 2021-03-31 iso4217:GBP xbrli:pure

Registration number: 09657241

The Nottingham Doughnut Co. Limited

Unaudited Abridged Financial Statements

(Companies House version)

for the Year Ended 31 March 2022

 

The Nottingham Doughnut Co. Limited

Contents

Accountants' Report

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Nottingham Doughnut Co. Limited
for the Year Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Nottingham Doughnut Co. Limited for the year ended 31 March 2022 as set out on pages 2 to 7 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

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

It is your duty to ensure that The Nottingham Doughnut Co. Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Nottingham Doughnut Co. Limited. You consider that The Nottingham Doughnut Co. Limited 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 accounts of The Nottingham Doughnut Co. Limited. 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 accounts.

......................................

Page Kirk LLP
Chartered Accountants
Sherwood House
7 Gregory Boulevard
Nottingham
Nottinghamshire
NG7 6LB

13 July 2022

 

The Nottingham Doughnut Co. Limited

(Registration number: 09657241)
Abridged Balance Sheet as at 31 March 2022

Note

2022

2021
£

   

£

£

   

Fixed assets

   

 

Tangible assets

4

 

100,567

 

127,293

Current assets

   

 

Stocks

2,500

 

5,000

 

Debtors

90,350

 

34,209

 

Cash at bank and in hand

 

141,868

 

112,768

 

 

234,718

 

151,977

 

Creditors: Amounts falling due within one year

(181,021)

 

(130,067)

 

Net current assets

   

53,697

 

21,910

Total assets less current liabilities

   

154,264

 

149,203

Creditors: Amounts falling due after more than one year

 

(91,919)

 

(113,067)

Provisions for liabilities

 

(19,108)

 

(24,185)

Net assets

   

43,237

 

11,951

Capital and reserves

   

 

Called up share capital

4

 

4

 

Profit and loss account

43,233

 

11,947

 

Total equity

   

43,237

 

11,951

 

The Nottingham Doughnut Co. Limited

(Registration number: 09657241)
Abridged Balance Sheet as at 31 March 2022

For the financial year ending 31 March 2022 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 13 July 2022 and signed on its behalf by:
 

.........................................
Mr W E Smith
Director

 

The Nottingham Doughnut Co. Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 King Street
Nottingham
NG1 2SA

These financial statements were authorised for issue by the Board on 13 July 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation of financial statements

These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are accounted for under the accruals basis.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Nottingham Doughnut Co. Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33.33% Straight line

Motor vehicles

33.33% Straight line

Other property, plant and equipment

20% Straight line

Stocks

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

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

The Nottingham Doughnut Co. Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

During the year, the average number of employees at the company was 29 (2021 - 26).

 

The Nottingham Doughnut Co. Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 April 2021

168,424

53,770

82,693

304,887

Additions

29,476

45,089

4,885

79,450

Disposals

-

(51,600)

-

(51,600)

At 31 March 2022

197,900

47,259

87,578

332,737

Depreciation

At 1 April 2021

112,063

6,427

59,104

177,594

Charge for the year

39,527

19,508

16,826

75,861

Eliminated on disposal

-

(21,285)

-

(21,285)

At 31 March 2022

151,590

4,650

75,930

232,170

Carrying amount

At 31 March 2022

46,310

42,609

11,648

100,567

At 31 March 2021

56,361

47,343

23,589

127,293

5

Obligations under leases and hire purchase contracts

Operating leases

At 31 March 2022 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £171,800 (2021 - £204,250).