Registered number
14138698
MADO BAKERY LTD
Filleted Accounts
31 May 2023
MADO BAKERY LTD
Registered number: 14138698
Balance Sheet
as at 31 May 2023
Notes 2023
£
Fixed assets
Tangible assets 3 15,402
Current assets
Stocks 1,750
Debtors 4 3,482
Cash at bank and in hand 5,005
10,237
Creditors: amounts falling due within one year 5 (8,107)
Net current assets 2,130
Total assets less current liabilities 17,532
Creditors: amounts falling due after more than one year 6 (20,500)
Net (liabilities)/assets (2,968)
Capital and reserves
Called up share capital 1
Profit and loss account (2,969)
Shareholder's funds (2,968)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Cemil BALCI
Director
Approved by the board on 9 February 2024
MADO BAKERY LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Corporation tax assets and liabilities are not discounted.
2 Employees 2023
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 15,402
At 31 May 2023 15,402
Depreciation
At 31 May 2023 -
Net book value
At 31 May 2023 15,402
4 Debtors 2023
£
Other debtors 3,482
5 Creditors: amounts falling due within one year 2023
£
Trade creditors 8,107
6 Creditors: amounts falling due after one year 2023
£
Other creditors 20,500
7 Other information
MADO BAKERY LTD is a private company limited by shares and incorporated in England. Its registered office is:
13 Parkhouse Court
Hatfield
AL10 9RQ
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