Company Registration No. NI615301 (Northern Ireland)
French Village Bakery Ltd
Unaudited accounts
for the year ended 31 January 2023
French Village Bakery Ltd
Unaudited accounts
Contents
French Village Bakery Ltd
Company Information
for the year ended 31 January 2023
Directors
Mr Robert Ashley French
Mrs Amy Elizabeth French
Company Number
NI615301 (Northern Ireland)
Registered Office
32 Montgomery Road
Belfast
BT6 9HL
Northern Ireland
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
French Village Bakery Ltd
Statement of financial position
as at 31 January 2023
Tangible assets
1,082,590
970,700
Inventories
165,496
86,723
Cash at bank and in hand
-
8,996
Creditors: amounts falling due within one year
(1,204,547)
(887,443)
Net current assets
97,005
163,114
Total assets less current liabilities
1,179,595
1,133,814
Creditors: amounts falling due after more than one year
(248,373)
(297,144)
Provisions for liabilities
Deferred tax
(108,072)
(19,438)
Net assets
823,150
817,232
Called up share capital
100
100
Profit and loss account
823,050
817,132
Shareholders' funds
823,150
817,232
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
Mr Robert Ashley French
Director
Company Registration No. NI615301
French Village Bakery Ltd
Notes to the Accounts
for the year ended 31 January 2023
French Village Bakery Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI615301. The registered office is 32 Montgomery Road, Belfast, BT6 9HL, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Straight Line
Motor vehicles
25% Reducing Balance
Fixtures & fittings
10% Straight Line
Computer equipment
25% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
French Village Bakery Ltd
Notes to the Accounts
for the year ended 31 January 2023
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
At 1 February 2022
150,000
At 31 January 2023
150,000
At 1 February 2022
150,000
At 31 January 2023
150,000
French Village Bakery Ltd
Notes to the Accounts
for the year ended 31 January 2023
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 February 2022
621,407
582,910
136,444
106,364
36,810
1,483,935
Additions
3,380
183,254
32,673
10,033
4,704
234,044
Disposals
-
-
(9,325)
-
-
(9,325)
At 31 January 2023
624,787
766,164
159,792
116,397
41,514
1,708,654
At 1 February 2022
-
343,701
63,807
72,013
33,714
513,235
Charge for the year
-
76,616
24,348
9,265
4,017
114,246
On disposals
-
-
(1,417)
-
-
(1,417)
At 31 January 2023
-
420,317
86,738
81,278
37,731
626,064
At 31 January 2023
624,787
345,847
73,054
35,119
3,783
1,082,590
At 31 January 2022
621,407
239,209
72,637
34,351
3,096
970,700
Amounts falling due within one year
Trade debtors
737,860
417,250
Amounts due from group undertakings etc.
351,355
484,503
Accrued income and prepayments
1,721
-
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
118,591
45,061
Trade creditors
398,621
291,412
Amounts owed to group undertakings and other participating interests
251,222
-
Taxes and social security
60,321
116,943
Other creditors
5,878
5,221
Loans from directors
238,958
296,334
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
248,373
297,144
French Village Bakery Ltd
Notes to the Accounts
for the year ended 31 January 2023
9
Deferred taxation
2023
2022
Accelerated capital allowances
108,072
19,438
Provision at start of year
19,438
19,438
Charged to the profit and loss account
88,634
-
Provision at end of year
108,072
19,438
10
Transactions with related parties
During the financial year, various loan accounts operated between French Bakery Village Ltd and other companies, all of which were under common control.
At the end of the financial year a total balance of £104,022 was owed to French Bakery Village Ltd by French Village Ltd (2022 - £112,142).
At the end of the financial year a total balance of £252,167 was owed to French Bakery Village Ltd by French Village Patisserie and Brasserie Ltd (2022 - £372,361).
11
Average number of employees
During the year the average number of employees was 96 (2022: 99).