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REGISTERED NUMBER: SC506649 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

TANTRUM DOUGHNUTS LTD

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 11

TANTRUM DOUGHNUTS LTD

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr Iain Baillie
Ms Annika Pullicino





REGISTERED OFFICE: 35 Old Dumbarton Road
Glasgow
G3 8RD





REGISTERED NUMBER: SC506649 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,757 -
Tangible assets 5 217,783 261,563
221,540 261,563

CURRENT ASSETS
Stocks 38,524 41,566
Debtors 6 33,467 45,451
Cash at bank and in hand 179,381 151,027
251,372 238,044
CREDITORS
Amounts falling due within one year 7 116,998 98,942
NET CURRENT ASSETS 134,374 139,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

355,914

400,665

CREDITORS
Amounts falling due after more than one
year

8

(42,699

)

(75,687

)

PROVISIONS FOR LIABILITIES 11 (24,181 ) (14,668 )
NET ASSETS 289,034 310,310

CAPITAL AND RESERVES
Called up share capital 12 16,000 16,000
Retained earnings 273,034 294,310
SHAREHOLDERS' FUNDS 289,034 310,310

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Balance Sheet - continued
31 October 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by:





Mr Iain Baillie - Director


TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 historical cost convention.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates or judgements used in the preparation of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discount and value added taxes. Turnover includes revenue earned from the sale of goods, the goods being doughnuts and beverages.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has paid for the goods.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
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.

Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged to profit and loss over the estimated useful economic lives, as follows:

Computer equipment - 20% reducing balance.
Fixtures and fittings - 20% reducing balance.
Plant and machinery - 20% reducing balance
Motor vehicles - 20% reducing balance
Leasehold improvements - 20% reducing balance
Website - 20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

At each reporting date the company assesses whether there is any indication of impairment. if such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use.

Any impairment loss is recognised immediately as an expense within profit and loss.

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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 Statement of Income and Retained Earnings, 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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Provisions
A provision is recognised when a company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 5,010
At 31 October 2023 5,010
AMORTISATION
Charge for year 1,253
At 31 October 2023 1,253
NET BOOK VALUE
At 31 October 2023 3,757

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 220,767 171,627 18,283
Additions - 6,317 3,638
At 31 October 2023 220,767 177,944 21,921
DEPRECIATION
At 1 November 2022 69,441 78,947 13,807
Charge for year 30,269 19,800 1,622
At 31 October 2023 99,710 98,747 15,429
NET BOOK VALUE
At 31 October 2023 121,057 79,197 6,492
At 31 October 2022 151,326 92,680 4,476

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 15,550 8,137 434,364
Additions - 715 10,670
At 31 October 2023 15,550 8,852 445,034
DEPRECIATION
At 1 November 2022 4,146 6,460 172,801
Charge for year 2,281 478 54,450
At 31 October 2023 6,427 6,938 227,251
NET BOOK VALUE
At 31 October 2023 9,123 1,914 217,783
At 31 October 2022 11,404 1,677 261,563

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2022
and 31 October 2023 76,629
DEPRECIATION
At 1 November 2022 15,326
Charge for year 12,260
At 31 October 2023 27,586
NET BOOK VALUE
At 31 October 2023 49,043
At 31 October 2022 61,303

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 352 609
Other debtors 1,500 1,308
VAT 2,346 8,589
Prepayments 29,269 34,945
33,467 45,451

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Hire purchase contracts (see note 10) 22,988 22,989
Trade creditors 31,774 38,706
Tax 15,098 14,407
Social security and other taxes 9,220 12,480
Other creditors - 337
Directors' current accounts 23 23
Accrued expenses 27,895 -
116,998 98,942

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 9) 25,000 35,000
Hire purchase contracts (see note 10) 17,699 40,687
42,699 75,687

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 20,000 20,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,000 15,000

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.10.23 31.10.22
£    £   
Gross obligations repayable:
Within one year 29,242 29,243
Between one and five years 22,533 51,776
51,775 81,019

Finance charges repayable:
Within one year 6,254 6,254
Between one and five years 4,834 11,089
11,088 17,343

Net obligations repayable:
Within one year 22,988 22,989
Between one and five years 17,699 40,687
40,687 63,676

Non-cancellable operating leases
31.10.23 31.10.22
£    £   
Within one year - 896
Between one and five years 205,083 260,003
In more than five years 280,000 314,000
485,083 574,899

TANTRUM DOUGHNUTS LTD (REGISTERED NUMBER: SC506649)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

11. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 24,181 14,668

Deferred
tax
£   
Balance at 1 November 2022 14,668
Provided during year 9,513
Balance at 31 October 2023 24,181

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
16,000 Ordinary 1 16,000 16,000

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr Iain Baillie
Balance outstanding at start of year (23 ) (2,099 )
Amounts advanced - 2,076
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (23 ) (23 )

Ms Annika Pullicino
Balance outstanding at start of year - 2,076
Amounts repaid - (2,076 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

14. RELATED PARTY DISCLOSURES

Directors' remuneration in the year including national insurance and pension contributions totalled £76,125 (2022 : £79,308).

Directors' dividends amounted to £36,002 (2022: £nil).

15. ULTIMATE CONTROLLING PARTY

Iain Baillie and Annika Pullicino are directors and each hold 4500 shares. Together they are the ultimate controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Tantrum Doughnuts Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tantrum Doughnuts Ltd for the year ended 31 October 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Tantrum Doughnuts Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tantrum Doughnuts Ltd and state those matters that we have agreed to state to the Board of Directors of Tantrum Doughnuts Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tantrum Doughnuts Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tantrum Doughnuts Ltd. You consider that Tantrum Doughnuts Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Tantrum Doughnuts Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL


14 February 2024