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2024-02-29
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No description of principal activities is disclosed
2023-03-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
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05553823
2023-03-01
2024-02-29
05553823
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2023-02-28
05553823
2022-03-01
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05553823
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05553823
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2024-02-29
05553823
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2024-02-29
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2024-02-29
05553823
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05553823
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2023-02-28
05553823
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2024-02-29
05553823
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05553823
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2024-02-29
05553823
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2023-02-28
05553823
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2024-02-29
05553823
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05553823
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05553823
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05553823
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05553823
1
2023-03-01
2024-02-29
Company registration number:
05553823
Burton Road Bakery Ltd
Unaudited filleted financial statements
29 February 2024
Burton Road Bakery Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Burton Road Bakery Ltd
Directors and other information
|
|
|
|
Director |
Mr Mark Ryder |
|
|
|
|
|
|
|
Secretary |
Mark Ryder |
|
|
|
|
|
|
|
Company number |
05553823 |
|
|
|
|
|
|
|
Registered office |
165 Burton Rd |
|
|
West Didsbury |
|
|
Manchester |
|
|
M20 2LN |
|
|
|
|
|
|
|
Business address |
165 Burton Road |
|
|
West Didsbury |
|
|
Manchester |
|
|
M20 2LN |
|
|
|
|
|
|
|
Accountants |
Purcell & Co |
|
|
204 Mauldeth Rd |
|
|
Burnage |
|
|
Manchester |
|
|
M19 1AJ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers |
National Westminster Bank Plc |
|
|
427 Wilmslow Rd |
|
|
Withington |
|
|
Manchester |
|
|
M20 1AB |
|
|
|
Burton Road Bakery Ltd
Accountant's Report to the director on the preparation of the
unaudited statutory financial statements of Burton Road Bakery Ltd
Period ended 29 February 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the period ended 29 February 2024 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Purcell & Co
Certified Public Accountants
204 Mauldeth Rd
Burnage
Manchester
M19 1AJ
11 March 2024
Burton Road Bakery Ltd
Statement of financial position
29 February 2024
|
|
|
29/02/24 |
|
|
|
28/02/23 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
6 |
- |
|
|
|
- |
|
|
Tangible assets |
|
7 |
- |
|
|
|
5,918 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
- |
|
|
|
5,918 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
- |
|
|
|
2,300 |
|
|
Debtors |
|
8 |
1,113 |
|
|
|
- |
|
|
Cash at bank and in hand |
|
|
78,502 |
|
|
|
97,698 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
79,615 |
|
|
|
99,998 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
9 |
(
5,453) |
|
|
|
(
14,519) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
74,162 |
|
|
|
85,479 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
74,162 |
|
|
|
91,397 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
- |
|
|
|
(
1,310) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
74,162 |
|
|
|
90,087 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
2 |
|
|
|
2 |
Profit and loss account |
|
|
|
|
74,160 |
|
|
|
90,085 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholder funds |
|
|
|
|
74,162 |
|
|
|
90,087 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
11 March 2024
, and are signed on behalf of the board by:
Mr Mark Ryder
Director
Company registration number:
05553823
Burton Road Bakery Ltd
Notes to the financial statements
Period ended 29 February 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 165 Burton Rd, West Didsbury, Manchester, M20 2LN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates
.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
8
(2023:
12
).
5.
Tax on profit
Major components of tax expense
|
|
|
Period |
Year |
|
|
|
ended |
ended |
|
|
|
29/02/24 |
28/02/23 |
|
|
|
£ |
£ |
|
Current tax: |
|
|
|
|
UK current tax expense |
|
4,973 |
2,719 |
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Deferred tax: |
|
|
|
|
Origination and reversal of timing differences |
|
(
1,310) |
(
101) |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
3,663 |
2,618 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Reconciliation of tax expense
The tax assessed on the profit for the period is lower than (2023: higher than) the
standard rate of corporation tax in the UK
of
19.00
% (2023: 19.00%).
|
|
|
Period |
Year |
|
|
|
ended |
ended |
|
|
|
29/02/24 |
28/02/23 |
|
|
|
£ |
£ |
|
Profit before taxation |
|
20,517 |
12,941 |
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Profit multiplied by rate of tax |
|
3,898 |
2,459 |
|
Effect of expenses not deductible for tax purposes |
|
308 |
- |
|
Effect of capital allowances and depreciation |
|
767 |
260 |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
4,973
|
2,719
|
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 March 2023 |
39,999 |
39,999 |
|
|
|
|
|
Disposals |
(39,999) |
(39,999) |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 29 February 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 March 2023 |
39,999 |
39,999 |
|
|
|
|
|
Disposals |
(
39,999) |
(
39,999) |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 29 February 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 29 February 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 28 February 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
7.
Tangible assets
|
|
Plant and machinery |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 March 2023 |
14,115 |
14,115 |
|
|
|
|
|
|
Disposals |
(
14,115) |
(
14,115) |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 29 February 2024 |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 March 2023 |
8,196 |
8,196 |
|
|
|
|
|
|
Disposals |
(
8,196) |
(
8,196) |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 29 February 2024 |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 29 February 2024 |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
At 28 February 2023 |
5,919 |
5,919
|
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
29/02/24 |
28/02/23 |
|
|
|
£ |
£ |
|
Other debtors |
|
1,113 |
- |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
29/02/24 |
28/02/23 |
|
|
|
£ |
£ |
|
Trade creditors |
|
480 |
1,307 |
|
Corporation tax |
|
4,973 |
2,719 |
|
Social security and other taxes |
|
- |
5,399 |
|
Other creditors |
|
- |
5,094 |
|
|
|
_______ |
_______ |
|
|
|
5,453 |
14,519 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
29/02/24 |
28/02/23 |
|
|
|
£ |
£ |
|
Included in provisions (note ) |
|
- |
1,310 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
29/02/24 |
28/02/23 |
|
|
|
£ |
£ |
|
Accelerated capital allowances |
|
(
1,310) |
(
101) |
|
|
|
_______ |
_______ |
|
|
|
|
|
11.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
|
|
|
29/02/24 |
28/02/23 |
|
|
|
£ |
£ |
|
Financial assets that are debt instruments measured at amortised cost |
|
|
|
|
Cash at bank |
|
78,502 |
94,442 |
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Financial liabilities measured at amortised cost |
|
|
|
|
Trade creditors |
|
480 |
1,307 |
|
Accrued charges |
|
(-) |
5,094 |
|
|
|
_______ |
_______ |
|
|
|
480 |
6,401 |
|
|
|
_______ |
_______ |
|
|
|
|
|
12.
Related party transactions
During the period the company entered into the following transactions with related parties:
|
|
Transaction value |
|
|
|
|
|
Period |
Year |
|
|
|
|
ended |
ended |
|
|
|
|
29/02/24 |
28/02/23 |
|
|
|
|
£ |
£ |
|
|
|
Mark Ryder |
15,000 |
18,000 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
During the year the company paid to the director Mr Mark Ryder, £15,000 (2023:£18,000) for rent of the business premises. At 29th February 2024 he was owed £nil (2023:£nil).
13.
Controlling party
For the year under review the company was controlled by the director Mr
Mark Ryder
as he owns all of the issued share capital of the company.