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REGISTERED NUMBER: 11842838 (England and Wales)










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: R Finch
L Sinclair





REGISTERED OFFICE: 2 Heap Bridge
Bury
BL9 7HR





REGISTERED NUMBER: 11842838 (England and Wales)





ACCOUNTANTS: Thompson Jones Business Solutions Limited
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 5 137,200 156,800
Tangible assets 6 243,907 254,588
381,107 411,388

CURRENT ASSETS
Stocks 7 15,000 15,000
Debtors 8 36,446 80,405
Cash at bank 63,207 31,162
114,653 126,567
CREDITORS
Amounts falling due within one year 9 (68,392 ) (58,615 )
NET CURRENT ASSETS 46,261 67,952
TOTAL ASSETS LESS CURRENT
LIABILITIES

427,368

479,340

CREDITORS
Amounts falling due after more than one
year

10

(88,185

)

(119,384

)
NET ASSETS 339,183 359,956

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 339,083 359,856
SHAREHOLDERS' FUNDS 339,183 359,956

Finch Bakery Limited (Registered number: 11842838)

Balance Sheet - continued
31st March 2023


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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th August 2023 and were signed on its behalf by:




R Finch - Director



L Sinclair - Director


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

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
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
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its 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.
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on cost

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 38 (2022 - 41 ) .

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 196,000
AMORTISATION
At 1st April 2022 39,200
Amortisation for year 19,600
At 31st March 2023 58,800
NET BOOK VALUE
At 31st March 2023 137,200
At 31st March 2022 156,800

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1st April 2022 165,347 130,943 51,575 347,865
Additions - 6,840 20,223 27,063
At 31st March 2023 165,347 137,783 71,798 374,928
DEPRECIATION
At 1st April 2022 - 80,688 12,589 93,277
Charge for year - 26,739 11,005 37,744
At 31st March 2023 - 107,427 23,594 131,021
NET BOOK VALUE
At 31st March 2023 165,347 30,356 48,204 243,907
At 31st March 2022 165,347 50,255 38,986 254,588

7. STOCKS
2023 2022
£    £   
Stocks 15,000 15,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 33,746
Other debtors 36,446 46,659
36,446 80,405

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 31,198 29,680
Trade creditors 1,353 1,532
Taxation and social security 33,577 23,402
Other creditors 2,264 4,001
68,392 58,615

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 88,185 119,384