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REGISTERED NUMBER: 12819786 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Bagels + Schmear Ltd

Bagels + Schmear Ltd (Registered number: 12819786)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bagels + Schmear Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: F Goldhill
O Goldhill





REGISTERED OFFICE: Office 10, Unit 1 465c Hornsey Road
Islington
London
N19 4DR





REGISTERED NUMBER: 12819786 (England and Wales)





ACCOUNTANTS: Goldhill Accountancy Ltd
Office 10, Unit 1
465C Hornsey Road
Islington
London
N19 4DR

Bagels + Schmear Ltd (Registered number: 12819786)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 184 209
Tangible assets 5 69,071 99,584
69,255 99,793

CURRENT ASSETS
Stocks 6 6,408 4,050
Debtors 7 26,074 26,385
Cash at bank 41,699 15,724
74,181 46,159
CREDITORS
Amounts falling due within one year 8 58,611 58,222
NET CURRENT ASSETS/(LIABILITIES) 15,570 (12,063 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,825

87,730

PROVISIONS FOR LIABILITIES 9 13,123 18,921
NET ASSETS 71,702 68,809

CAPITAL AND RESERVES
Called up share capital 120 120
Share premium 10 99,982 99,982
Retained earnings 10 (28,400 ) (31,293 )
71,702 68,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Bagels + Schmear Ltd (Registered number: 12819786)

Balance Sheet - continued
31 March 2023


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 3 October 2023 and were signed on its behalf by:





O Goldhill - Director


Bagels + Schmear Ltd (Registered number: 12819786)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Bagels + Schmear Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Bagels + Schmear Ltd (Registered number: 12819786)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2022
and 31 March 2023 250
AMORTISATION
At 1 April 2022 41
Amortisation for year 25
At 31 March 2023 66
NET BOOK VALUE
At 31 March 2023 184
At 31 March 2022 209

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 61,502 40,914 9,148 2,790 114,354
Additions - 2,504 632 441 3,577
Disposals - (545 ) - - (545 )
At 31 March 2023 61,502 42,873 9,780 3,231 117,386
DEPRECIATION
At 1 April 2022 8,654 4,681 986 449 14,770
Charge for year 20,501 10,275 2,073 696 33,545
At 31 March 2023 29,155 14,956 3,059 1,145 48,315
NET BOOK VALUE
At 31 March 2023 32,347 27,917 6,721 2,086 69,071
At 31 March 2022 52,848 36,233 8,162 2,341 99,584

Bagels + Schmear Ltd (Registered number: 12819786)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 6,408 4,050

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,205 2,281
Other debtors 8,067 8,874
VAT 3,178 5,561
Prepayments 13,624 9,669
26,074 26,385

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 2,045 6,386
Social security and other taxes 37 125
Other creditors 267 624
Directors' current accounts 55,895 49,857
Accrued expenses 367 1,230
58,611 58,222

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 13,123 18,921

Deferred
tax
£   
Balance at 1 April 2022 18,921
Provided during year (5,798 )
Balance at 31 March 2023 13,123

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 (31,293 ) 99,982 68,689
Profit for the year 2,893 2,893
At 31 March 2023 (28,400 ) 99,982 71,582

Bagels + Schmear Ltd (Registered number: 12819786)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
F Goldhill
Balance outstanding at start of year (49,090 ) (1,993 )
Amounts advanced 550 614
Amounts repaid (6,631 ) (47,711 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (55,171 ) (49,090 )

O Goldhill
Balance outstanding at start of year (767 ) -
Amounts advanced 2,514 8,573
Amounts repaid (2,471 ) (9,340 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (724 ) (767 )

The directors' current account balance shown under creditors of £55,895 (2022: £49,857) has no fixed date for repayment, is repayable upon demand and is non-interest bearing.