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REGISTERED NUMBER: 04424945 (England and Wales)



















FINEBAKE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






FINEBAKE LTD (REGISTERED NUMBER: 04424945)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


FINEBAKE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: Mr N Pshemish
Mrs M Pshemish





SECRETARY: Mrs M Pshemish





REGISTERED OFFICE: Unit 5
10 Manor Road
London
N16 5SA





REGISTERED NUMBER: 04424945 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

FINEBAKE LTD (REGISTERED NUMBER: 04424945)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 55,758 73,143
Investment property 6 81,760 81,760
137,518 154,903

CURRENT ASSETS
Stocks 7 5,500 3,500
Debtors 8 148,646 51,864
Cash at bank 374,247 740,352
528,393 795,716
CREDITORS
Amounts falling due within one year 9 584,688 883,140
NET CURRENT LIABILITIES (56,295 ) (87,424 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,223

67,479

CREDITORS
Amounts falling due after more than one
year

10

(33,796

)

(39,352

)

PROVISIONS FOR LIABILITIES 11 (10,349 ) (13,598 )
NET ASSETS 37,078 14,529

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 37,076 14,527
SHAREHOLDERS' FUNDS 37,078 14,529

FINEBAKE LTD (REGISTERED NUMBER: 04424945)

BALANCE SHEET - continued
30 APRIL 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 7 February 2024 and were signed on its behalf by:





Mrs M Pshemish - Director


FINEBAKE LTD (REGISTERED NUMBER: 04424945)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Finebake Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
The financial statements have been prepared on the historical cost basis, as modified to include investment properties measured at fair value through profit or loss.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Profit and Loss Account, 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.


FINEBAKE LTD (REGISTERED NUMBER: 04424945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 24 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 250,596 23,255 14,995 3,237 292,083
Additions - 1,200 - - 1,200
At 30 April 2023 250,596 24,455 14,995 3,237 293,283
DEPRECIATION
At 1 May 2022 184,195 17,399 14,639 2,707 218,940
Charge for year 16,600 1,764 89 132 18,585
At 30 April 2023 200,795 19,163 14,728 2,839 237,525
NET BOOK VALUE
At 30 April 2023 49,801 5,292 267 398 55,758
At 30 April 2022 66,401 5,856 356 530 73,143

FINEBAKE LTD (REGISTERED NUMBER: 04424945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 81,760
NET BOOK VALUE
At 30 April 2023 81,760
At 30 April 2022 81,760

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the company's directors who have the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.

The historical cost of investment properties at 30 April 2023 is £81,760.

7. STOCKS
2023 2022
£    £   
Stocks 5,500 3,500

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 47,528 44,254
Other debtors 101,118 7,610
148,646 51,864

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,556 312,796
Trade creditors 27,064 33,732
Taxation and social security 48,368 30,220
Other creditors 503,700 506,392
584,688 883,140

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 33,796 39,352

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
instalments

11,574

17,130

FINEBAKE LTD (REGISTERED NUMBER: 04424945)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 10,349 13,598

Deferred
tax
£   
Balance at 1 May 2022 13,598
Credit to Profit and Loss Account during year (3,249 )
Balance at 30 April 2023 10,349

The provision for deferred tax is in respect of accelerated capital allowances.