Registered number
10752330
Bread and Flowers Ltd
Filleted Accounts
31 December 2023
Bread and Flowers Ltd
Registered number: 10752330
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 7,126 14,252
Tangible assets 4 14,342 19,898
21,468 34,150
Current assets
Stocks 2,000 500
Debtors 5 29,232 26,424
31,232 26,924
Creditors: amounts falling due within one year 6 (90,681) (65,019)
Net current liabilities (59,449) (38,095)
Total assets less current liabilities (37,981) (3,945)
Creditors: amounts falling due after more than one year 7 (24,900) (42,940)
Provisions for liabilities (2,725) -
Net liabilities (65,606) (46,885)
Capital and reserves
Called up share capital 100 100
Profit and loss account (65,706) (46,985)
Shareholders' funds (65,606) (46,885)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr Martin Simcock
Director
Approved by the board on 9 April 2024
Bread and Flowers Ltd
Notes to the Accounts
for the year ended 31 December 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Motor vehicles over 4 years
Plant and machinery 15% Reducing balance
Computer equipment over 5 years
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 current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 35,630
At 31 December 2023 35,630
Amortisation
At 1 January 2023 21,378
Provided during the year 7,126
At 31 December 2023 28,504
Net book value
At 31 December 2023 7,126
At 31 December 2022 14,252
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 3,525 10,787 19,350 33,662
At 31 December 2023 3,525 10,787 19,350 33,662
Depreciation
At 1 January 2023 3,160 6,573 4,031 13,764
Charge for the year 86 632 4,838 5,556
At 31 December 2023 3,246 7,205 8,869 19,320
Net book value
At 31 December 2023 279 3,582 10,481 14,342
At 31 December 2022 365 4,214 15,319 19,898
5 Debtors 2023 2022
£ £
Trade debtors 1,802 -
Other debtors 27,430 26,424
29,232 26,424
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,604 24,997
Trade creditors 2,933 5,038
Taxation and social security costs 23,642 6,231
Other creditors 59,502 28,753
90,681 65,019
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,900 42,940
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 30,000 25,800
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr Martin Simcock
Interest-free and unsecured 26,424 27,430 (26,424) 27,430
26,424 27,430 (26,424) 27,430
10 Other information
Bread and Flowers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5B Sunrise Business Park
Higher Shaftesbury Road
Blandford Forum
Dorset
DT11 8ST
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