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Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Golden Crust Bakery Limited

Golden Crust Bakery Limited (Registered number: 05390498)






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


Golden Crust Bakery Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: M J Davies





SECRETARY: M J Davies





REGISTERED OFFICE: 146 High Street
Billericay
Essex
CM12 9DF





REGISTERED NUMBER: 05390498 (England and Wales)





ACCOUNTANTS: Michael Letch & Partners LLP
Accountants
146 High Street
Billericay
Essex
CM12 9DF

Golden Crust Bakery Limited (Registered number: 05390498)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 23,202 18,793
23,202 18,793

CURRENT ASSETS
Stocks 3,500 2,800
Debtors 5 125,994 101,281
Cash at bank and in hand 64,215 91,598
193,709 195,679
CREDITORS
Amounts falling due within one year 6 117,581 88,367
NET CURRENT ASSETS 76,128 107,312
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,330

126,105

CREDITORS
Amounts falling due after more than one
year

7

26,667

36,667
NET ASSETS 72,663 89,438

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 72,563 89,338
72,663 89,438

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 director acknowledges his 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.

Golden Crust Bakery Limited (Registered number: 05390498)

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 director and authorised for issue on 27 November 2023 and were signed by:





M J Davies - Director


Golden Crust Bakery Limited (Registered number: 05390498)

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

1. 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.

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 etc - 25% on reducing balance, Straight line over 10 years and Straight line over 3 years

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 17 ) .

Golden Crust Bakery Limited (Registered number: 05390498)

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

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 225,000
AMORTISATION
At 1 April 2022
and 31 March 2023 225,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 - 105,467 4,079 776 110,322
Additions 4,975 7,142 - - 12,117
Disposals - - (4,079 ) - (4,079 )
At 31 March 2023 4,975 112,609 - 776 118,360
DEPRECIATION
At 1 April 2022 - 87,642 3,111 776 91,529
Charge for year 498 6,242 - - 6,740
Eliminated on disposal - - (3,111 ) - (3,111 )
At 31 March 2023 498 93,884 - 776 95,158
NET BOOK VALUE
At 31 March 2023 4,477 18,725 - - 23,202
At 31 March 2022 - 17,825 968 - 18,793

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,638 40,576
Other debtors - 6,515
Social security and other tax 38,059 29,035
Directors' loan accounts 45,951 14,531
Tax 7,071 9,692
Prepayments 8,275 932
125,994 101,281

Golden Crust Bakery Limited (Registered number: 05390498)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 27,804 31,271
Tax 8,305 -
Social security and other taxes 60,544 22,857
Other creditors 3,465 9,980
Accrued expenses 7,463 14,259
117,581 88,367

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 26,667 36,667