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REGISTERED NUMBER: 04589534 (England and Wales)









WALDRONS PATISSERIE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WALDRONS PATISSERIE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: R J Waldron
J C Waldron





REGISTERED OFFICE: Units 1-5 Churchills
Mardle Way Industrial Estate
BUCKFASTLEIGH
Devon
TQ11 0NR





REGISTERED NUMBER: 04589534 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

ABRIDGED BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 57,332 55,393
57,332 55,393

CURRENT ASSETS
Stocks 119,679 84,598
Debtors 181,969 158,730
Cash at bank 54,660 49,240
356,308 292,568
CREDITORS
Amounts falling due within one year 152,689 105,063
NET CURRENT ASSETS 203,619 187,505
TOTAL ASSETS LESS CURRENT LIABILITIES 260,951 242,898

CREDITORS
Amounts falling due after more than one year (3,542 ) (11,941 )

PROVISIONS FOR LIABILITIES (10,893 ) (10,525 )
NET ASSETS 246,516 220,432

CAPITAL AND RESERVES
Called up share capital 1,210 1,210
Retained earnings 245,306 219,222
SHAREHOLDERS' FUNDS 246,516 220,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 31 March 2022 and were signed on its behalf by:





R J Waldron - Director


WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Waldrons Patisserie 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised when the goods are delivered to the customer.

Goodwill
Goodwill relates to the acquisition of a business in 2004 and was previously being amortised evenly over its initial estimated useful economic life of 20 years.

The Directors have reviewed the policy and agreed that with effect from 1 January 2015 the remaining balance of goodwill is to be written off over a period of 5 years. Thus, as at 31 December 2019, the goodwill had been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - Straight line over 10 years
Fixtures and fittings - Straight line over 10 years

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

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

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

3. ACCOUNTING POLICIES - continued

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

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

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit & loss account at a constant rate of charge on the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to the profit & loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary cost payable for the period of absence.

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

3. ACCOUNTING POLICIES - continued

Grant income
Income received in relation to grants are classified either as relating to revenue or to assets.

Grants relating to revenue are recognised in other income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Where a timing difference arises, the income is held on the balance sheet. When received in arrears the expected income is recognises as a debtor so long as the relevant conditions have been satisfied. When received in advance of costs, the income is held as deferred income and systematically released to the profit and loss in the periods the cost is incurred.

Grants relating to assets are recognised initially as deferred income and released to other income on a systematic basis over the expected useful life of the asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 11 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021
and 31 December 2021 60,000
AMORTISATION
At 1 January 2021
and 31 December 2021 60,000
NET BOOK VALUE

At 31 December 2021 -
At 31 December 2020 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021 315,046
Additions 14,523
At 31 December 2021 329,569
DEPRECIATION
At 1 January 2021 259,653
Charge for year 12,584
At 31 December 2021 272,237
NET BOOK VALUE
At 31 December 2021 57,332
At 31 December 2020 55,393

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2021
and 31 December 2021 25,275
DEPRECIATION
At 1 January 2021 3,923
Charge for year 2,527
At 31 December 2021 6,450
NET BOOK VALUE
At 31 December 2021 18,825
At 31 December 2020 21,352

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2021 2020
£    £   
Net obligations repayable:
Within one year 8,119 7,759
Between one and five years 3,542 11,941
11,661 19,700

Non-cancellable operating leases
2021 2020
£    £   
Within one year 54,000 54,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts 11,661 19,700

The security is held over the asset to which the liability relates.