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Registration number: 12600707

The Wood Fired Oven Company Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023

 

The Wood Fired Oven Company Limited

(Registration number: 12600707)

Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

74,918

101,290

Current assets

 

Debtors

4

1,241

47,651

Cash at bank and in hand

 

34,162

54,344

 

35,403

101,995

Creditors: Amounts falling due within one year

5

(89,016)

(142,059)

Net current liabilities

 

(53,613)

(40,064)

Total assets less current liabilities

 

21,305

61,226

Provisions for liabilities

(18,729)

(19,185)

Net assets

 

2,576

42,041

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

2,476

41,941

Shareholders' funds

 

2,576

42,041

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 18 March 2024 and signed on its behalf by:
 

.........................................

Mr T C Truelove
Director

 

The Wood Fired Oven Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

Accounting policies

Statutory information

The Wood Fired Oven Company Limited is a private company, limited by shares, domiciled in England and Wales, company number 12600707. The registered office is at Roydhouse, Shelley, Nr Huddersfield, HD8 8LR.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

The Wood Fired Oven Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% straight line basis

Motor vehicles

25% straight line basis

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments


Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

3

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost

At 1 October 2022

61,407

68,645

130,052

At 30 September 2023

61,407

68,645

130,052

Depreciation

At 1 October 2022

12,645

16,117

28,762

Charge for the year

9,211

17,161

26,372

At 30 September 2023

21,856

33,278

55,134

Carrying amount

At 30 September 2023

39,551

35,367

74,918

At 30 September 2022

48,762

52,528

101,290

 

The Wood Fired Oven Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

4

Debtors

2023
£

2022
£

Trade debtors

-

5,750

Prepayments

1,228

26,513

Other debtors

13

15,388

1,241

47,651

5

Creditors

2023
£

2022
£

Due within one year

Trade creditors

22

9,462

Amounts owed to related undertakings

84,483

95,365

Taxation and social security

-

1,625

Accruals and deferred income

4,511

23,475

Other creditors

-

12,132

89,016

142,059

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £210 (2022 - £570).