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REGISTERED NUMBER: 06480626 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

NORBAKE SERVICES LIMITED

NORBAKE SERVICES LIMITED (REGISTERED NUMBER: 06480626)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NORBAKE SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2021







DIRECTORS: S A Dalal
A Green





SECRETARY: S A Dalal





REGISTERED OFFICE: Ground Floor, St Paul's House
23 Park square
Leeds
West Yorkshire
LS1 2ND





REGISTERED NUMBER: 06480626 (England and Wales)





ACCOUNTANTS: Sedulo Leeds Limited
St Paul's House
23 Park Square
Leeds
West Yorkshire
LS1 2ND

NORBAKE SERVICES LIMITED (REGISTERED NUMBER: 06480626)

BALANCE SHEET
28 FEBRUARY 2021

28.2.21 29.2.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127,491 121,060

CURRENT ASSETS
Stocks 489,226 501,272
Debtors 5 523,111 775,642
Cash at bank and in hand 39,303 18,187
1,051,640 1,295,101
CREDITORS
Amounts falling due within one year 6 345,400 463,563
NET CURRENT ASSETS 706,240 831,538
TOTAL ASSETS LESS CURRENT
LIABILITIES

833,731

952,598

CREDITORS
Amounts falling due after more than one year 7 264,155 218,029
NET ASSETS 569,576 734,569

CAPITAL AND RESERVES
Called up share capital 86 86
Capital redemption reserve 15 15
Retained earnings 569,475 734,468
SHAREHOLDERS' FUNDS 569,576 734,569

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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.

NORBAKE SERVICES LIMITED (REGISTERED NUMBER: 06480626)

BALANCE SHEET - continued
28 FEBRUARY 2021


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 2 September 2022 and were signed on its behalf by:





S A Dalal - Director


NORBAKE SERVICES LIMITED (REGISTERED NUMBER: 06480626)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021


1. STATUTORY INFORMATION

Norbake Services Limited 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.

The principal activity of the company in the period under review was that of servicing, sales, project management and installation of bakery equipment for industrial and commercial outlets.

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.

In common with virtually every other business in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the directors believe they have taken all possible steps to protect the Company including accessing relevant Government assistance.

At the time of signing these accounts the directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

The Financial Statements are prepared in sterling which is the functional currency of the company.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


NORBAKE SERVICES LIMITED (REGISTERED NUMBER: 06480626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2021


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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 the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2020 - 13 ) .

NORBAKE SERVICES LIMITED (REGISTERED NUMBER: 06480626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2021


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2020 37,415 67,408 289,306 96,473 490,602
Additions - 1,919 76,634 - 78,553
Disposals - - (81,680 ) - (81,680 )
At 28 February 2021 37,415 69,327 284,260 96,473 487,475
DEPRECIATION
At 1 March 2020 31,678 61,905 218,082 57,877 369,542
Charge for year 1,151 1,862 30,504 12,761 46,278
Eliminated on disposal - - (55,836 ) - (55,836 )
At 28 February 2021 32,829 63,767 192,750 70,638 359,984
NET BOOK VALUE
At 28 February 2021 4,586 5,560 91,510 25,835 127,491
At 29 February 2020 5,737 5,503 71,224 38,596 121,060

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2020 19,495
Additions 76,634
At 28 February 2021 96,129
DEPRECIATION
At 1 March 2020 13,313
Charge for year 20,705
At 28 February 2021 34,018
NET BOOK VALUE
At 28 February 2021 62,111
At 29 February 2020 6,182

NORBAKE SERVICES LIMITED (REGISTERED NUMBER: 06480626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2021


5. DEBTORS
28.2.21 29.2.20
£    £   
Amounts falling due within one year:
Trade debtors 170,048 328,321
Other debtors 53,063 147,321
223,111 475,642

Amounts falling due after more than one year:
Other debtors 300,000 300,000

Aggregate amounts 523,111 775,642

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.21 29.2.20
£    £   
Bank loans and overdrafts 50,000 -
Hire purchase contracts (see note 8) 11,143 3,925
Trade creditors 159,619 218,284
Taxation and social security 97,019 83,839
Other creditors 27,619 157,515
345,400 463,563

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.21 29.2.20
£    £   
Hire purchase contracts (see note 8) 51,822 2,109
Other creditors 212,333 215,920
264,155 218,029

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
28.2.21 29.2.20
£    £   
Net obligations repayable:
Within one year 11,143 3,925
Between one and five years 51,822 2,109
62,965 6,034

NORBAKE SERVICES LIMITED (REGISTERED NUMBER: 06480626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2021


8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
28.2.21 29.2.20
£    £   
Within one year 49,878 49,878
Between one and five years 29,547 60,744
79,425 110,622

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.21 29.2.20
£    £   
Hire purchase contracts 62,965 -

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances to/(credits from) the directors subsisted during the years ended 28 February 2021 and 29 February 2020:

28.2.21 29.2.20
£    £   
A Green
Balance outstanding at start of year - (1,855 )
Amounts advanced - 72,161
Amounts repaid - (70,306 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

S A Dalal
Balance outstanding at start of year - 5,458
Amounts advanced - 68,209
Amounts repaid - (73,667 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. RELATED PARTY DISCLOSURES

Included in Other creditors are loans due to the directors, A Green and S A Dalal, of £2,685 (2020 - £3,684) and £7,816 (2020 - £31,823) respectively. No interest is paid on these loans.