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REGISTERED NUMBER: NI029118 (Northern Ireland)










Unaudited Financial Statements

for the Year Ended 28 February 2023

for

D & M Cakes Limited

D & M Cakes Limited (Registered number: NI029118)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


D & M Cakes Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr SJD Graham
Dr T J Graham
Miss L M Graham
Mrs E M E Anderson





SECRETARY: Miss L M Graham





REGISTERED OFFICE: Building 2
The Sidings
Antrim Road
Lisburn
Co. Antrim
BT28 3AJ





BUSINESS ADDRESS: 6 Barronstown Road
Dromore
Co. Down
BT25 1NT





REGISTERED NUMBER: NI029118 (Northern Ireland)





ACCOUNTANTS: KGA Accountants LLP
Building 2
The Sidings
Antrim Road
Lisburn
Co. Antrim
BT28 3AJ

D & M Cakes Limited (Registered number: NI029118)

Abridged Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 436,661 350,208
Investments 5 80 80
436,741 350,288

CURRENT ASSETS
Stocks 483,366 289,143
Debtors 954,971 768,711
Cash at bank 93,495 31,412
1,531,832 1,089,266
CREDITORS
Amounts falling due within one year 1,799,039 1,198,374
NET CURRENT LIABILITIES (267,207 ) (109,108 )
TOTAL ASSETS LESS CURRENT LIABILITIES 169,534 241,180

CREDITORS
Amounts falling due after more than one
year

6

457,595

542,036
NET LIABILITIES (288,061 ) (300,856 )

CAPITAL AND RESERVES
Called up share capital 8 3 3
Share premium 57,499 57,499
Retained earnings (345,563 ) (358,358 )
SHAREHOLDERS' FUNDS (288,061 ) (300,856 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

D & M Cakes Limited (Registered number: NI029118)

Abridged Balance Sheet - continued
28 February 2023


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 Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 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 13 November 2023 and were signed on its behalf by:




Mr SJD Graham - Director



Miss L M Graham - Director


D & M Cakes Limited (Registered number: NI029118)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

D & M Cakes Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are prepared in sterling which is the functional currency of the entity and rounded to the nearest £.

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.

Preparation of consolidated financial statements
The financial statements contain information about D & M Cakes Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
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 significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually the dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - in accordance with the property
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Costs includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


D & M Cakes Limited (Registered number: NI029118)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. 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.

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.

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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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

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 80 (2022 - 70 ) .

D & M Cakes Limited (Registered number: NI029118)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 1,537,943
Additions 164,527
At 28 February 2023 1,702,470
DEPRECIATION
At 1 March 2022 1,187,735
Charge for year 78,074
At 28 February 2023 1,265,809
NET BOOK VALUE
At 28 February 2023 436,661
At 28 February 2022 350,208

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

Totals
£   
COST
At 1 March 2022 153,404
Additions 120,491
At 28 February 2023 273,895
DEPRECIATION
At 1 March 2022 61,101
Charge for year 25,063
At 28 February 2023 86,164
NET BOOK VALUE
At 28 February 2023 187,731
At 28 February 2022 92,303

D & M Cakes Limited (Registered number: NI029118)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 March 2022
and 28 February 2023 80
NET BOOK VALUE
At 28 February 2023 80
At 28 February 2022 80

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Preference shares 377,000 377,000

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 47,001 75,423

Invoice discounting is secured upon book debts of the Company. The bank loans are secured via a legal charge over premises at 6 Barronstown Road, Dromore.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
332 Ordinary 1p 3 3

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is the balance of an interest-free loan from a director and shareholder of the company.The balance included within creditors greater than one year in the financial statements at 28 February 2023 is Nil (2022 : £62,395) and less than one year is £67,383 (2021 £60,000).The loan is repayable on a rolling 53 week basis.

10. RELATED PARTY DISCLOSURES

Included within debtors is an amount owed by the The R Project Limited (Subsidiary company) of £37,542 (2022 £61,197).