REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2023 |
for |
Finch Bakery Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2023 |
for |
Finch Bakery Limited |
Finch Bakery Limited (Registered number: 11842838) |
Contents of the Financial Statements |
for the Year Ended 31st March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Finch Bakery Limited |
Company Information |
for the Year Ended 31st March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Heap Bridge |
Bury |
Lancashire |
BL9 7HR |
Finch Bakery Limited (Registered number: 11842838) |
Balance Sheet |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
Finch Bakery Limited (Registered number: 11842838) |
Balance Sheet - continued |
31st March 2023 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Finch Bakery Limited (Registered number: 11842838) |
Notes to the Financial Statements |
for the Year Ended 31st March 2023 |
1. | STATUTORY INFORMATION |
The company is a private company limited by share capital, incorporated in England & Wales. |
The address of its registered office is: |
2 Heap Bridge |
Bury |
Lancashire |
BL9 7HR |
The principal place of business is: |
28A Queen Street |
Great Harwood |
Blackburn |
Lancashire |
BB6 7QQ |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
These financial statements have been prepared using the historical cost convention except that as |
disclosed in the accounting policies certain items are shown at fair value. |
GOODWILL |
TANGIBLE FIXED ASSETS |
Plant and machinery | - |
Fixtures and fittings | - |
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. |
Finch Bakery Limited (Registered number: 11842838) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
3. | ACCOUNTING POLICIES - continued |
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. |
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. |
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. |
TRADE DEBTORS |
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. |
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. |
CASH AND CASH EQUIVALENTS |
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Finch Bakery Limited (Registered number: 11842838) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st April 2022 |
and 31st March 2023 |
AMORTISATION |
At 1st April 2022 |
Amortisation for year |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2022 |
Additions |
At 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
7. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Finch Bakery Limited (Registered number: 11842838) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |