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Company Registration No. SC508348 (Scotland)
The Loft Cafe And Bakery Limited Unaudited accounts for the year ended 31 July 2023
The Loft Cafe And Bakery Limited Unaudited accounts Contents
Page
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The Loft Cafe And Bakery Limited Company Information for the year ended 31 July 2023
Director
Charlotte Kington
Company Number
SC508348 (Scotland)
Registered Office
The Loft Cafe And Bakery Ltd Peffers Place Haddington EH41 3DR Scotland
Accountants
AGL Tax Solutions LLP 2A Station Yard Haddington East Lothian EH41 3PP
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The Loft Cafe And Bakery Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,784 
7,344 
Current assets
Inventories
10,647 
9,445 
Debtors
667 
2,740 
Cash at bank and in hand
65,074 
103,444 
76,388 
115,629 
Creditors: amounts falling due within one year
(59,070)
(62,106)
Net current assets
17,318 
53,523 
Net assets
22,102 
60,867 
Capital and reserves
Called up share capital
1 
2 
Capital redemption reserve
(28,837)
- 
Profit and loss account
50,938 
60,865 
Shareholders' funds
22,102 
60,867 
For the year ending 31 July 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 director acknowledges her 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 and authorised for issue on 7 February 2024 and were signed on its behalf by
Charlotte Kington Director Company Registration No. SC508348
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The Loft Cafe And Bakery Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
The Loft Cafe And Bakery Limited is a private company, limited by shares, registered in Scotland, registration number SC508348. The registered office is The Loft Cafe And Bakery Ltd, Peffers Place , Haddington, EH41 3DR, Scotland.
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.
3
Accounting policies
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.
Basis of preparation
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company’s ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue. The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the 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.
Tangible fixed assets and depreciation
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.
Plant & machinery
15% straight line
Fixtures & fittings
25% straight line
Computer equipment
33.33% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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The Loft Cafe And Bakery Limited Notes to the Accounts for the year ended 31 July 2023
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company’s pension scheme are charged to profit and loss in the period to which they relate.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2022
58,488 
2,891 
10,888 
72,267 
Additions
2,729 
575 
365 
3,669 
At 31 July 2023
61,217 
3,466 
11,253 
75,936 
Depreciation
At 1 August 2022
52,285 
2,638 
10,000 
64,923 
Charge for the year
5,106 
1,123 
- 
6,229 
At 31 July 2023
57,391 
3,761 
10,000 
71,152 
Net book value
At 31 July 2023
3,826 
(295)
1,253 
4,784 
At 31 July 2022
6,203 
253 
888 
7,344 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
354 
2,117 
Accrued income and prepayments
777 
800 
Other debtors
(464)
(177)
667 
2,740 
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The Loft Cafe And Bakery Limited Notes to the Accounts for the year ended 31 July 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
23,814 
21,716 
Trade creditors
11,207 
11,563 
Taxes and social security
9,573 
17,811 
Other creditors
12,364 
8,592 
Loans from directors
312 
624 
Accruals
1,800 
1,800 
59,070 
62,106 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's Loan
312 
29,150 
29,150 
312 
312 
29,150 
29,150 
312 
8
Average number of employees
During the year the average number of employees was 30 (2022: 26).
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