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
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
The Loft Cafe And Bakery Limited
Statement of financial position
as at 31 July 2023
Tangible assets
4,784
7,344
Cash at bank and in hand
65,074
103,444
Creditors: amounts falling due within one year
(59,070)
(62,106)
Net current assets
17,318
53,523
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
The Loft Cafe And Bakery Limited
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
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.
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 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 are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
The Loft Cafe And Bakery Limited
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
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
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
At 31 July 2023
3,826
(295)
1,253
4,784
At 31 July 2022
6,203
253
888
7,344
Amounts falling due within one year
Accrued income and prepayments
777
800
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
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
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan
312
29,150
29,150
312
8
Average number of employees
During the year the average number of employees was 30 (2022: 26).