32 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 270,000 226,833 13,500 240,333 29,667 43,167 xbrli:pure xbrli:shares iso4217:GBP 05464356 2022-08-01 2023-07-31 05464356 2023-07-31 05464356 2022-07-31 05464356 2021-08-01 2022-07-31 05464356 2022-07-31 05464356 2021-07-31 05464356 core:NetGoodwill 2022-08-01 2023-07-31 05464356 core:PlantMachinery 2022-08-01 2023-07-31 05464356 core:FurnitureFittings 2022-08-01 2023-07-31 05464356 core:MotorVehicles 2022-08-01 2023-07-31 05464356 bus:Director1 2022-08-01 2023-07-31 05464356 core:NetGoodwill 2022-07-31 05464356 core:NetGoodwill 2023-07-31 05464356 core:LandBuildings 2022-07-31 05464356 core:PlantMachinery 2022-07-31 05464356 core:FurnitureFittings 2022-07-31 05464356 core:MotorVehicles 2022-07-31 05464356 core:LandBuildings 2023-07-31 05464356 core:PlantMachinery 2023-07-31 05464356 core:FurnitureFittings 2023-07-31 05464356 core:MotorVehicles 2023-07-31 05464356 core:WithinOneYear 2023-07-31 05464356 core:WithinOneYear 2022-07-31 05464356 core:AfterOneYear 2023-07-31 05464356 core:AfterOneYear 2022-07-31 05464356 core:LandBuildings 2022-08-01 2023-07-31 05464356 core:ShareCapital 2023-07-31 05464356 core:ShareCapital 2022-07-31 05464356 core:RetainedEarningsAccumulatedLosses 2023-07-31 05464356 core:RetainedEarningsAccumulatedLosses 2022-07-31 05464356 core:BetweenOneFiveYears 2023-07-31 05464356 core:MoreThanFiveYears 2023-07-31 05464356 core:NetGoodwill 2022-07-31 05464356 core:LandBuildings 2022-07-31 05464356 core:PlantMachinery 2022-07-31 05464356 core:FurnitureFittings 2022-07-31 05464356 core:MotorVehicles 2022-07-31 05464356 bus:SmallEntities 2022-08-01 2023-07-31 05464356 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 05464356 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 05464356 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05464356 bus:FullAccounts 2022-08-01 2023-07-31 05464356 core:LandBuildings core:LongLeaseholdAssets 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: 05464356
The Cottage Bakery (Ampthill) Limited
Filleted Unaudited Financial Statements
31 July 2023
The Cottage Bakery (Ampthill) Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
29,667
43,167
Tangible assets
6
32,800
49,639
--------
--------
62,467
92,806
Current assets
Stocks
21,626
22,042
Debtors
7
66,404
44,967
Cash at bank and in hand
27,885
63,766
---------
---------
115,915
130,775
Creditors: amounts falling due within one year
8
82,359
140,007
---------
---------
Net current assets/(liabilities)
33,556
( 9,232)
--------
--------
Total assets less current liabilities
96,023
83,574
Creditors: amounts falling due after more than one year
9
20,050
30,242
Provisions
Taxation including deferred tax
4,945
7,408
--------
--------
Net assets
71,028
45,924
--------
--------
The Cottage Bakery (Ampthill) Limited
Statement of Financial Position (continued)
31 July 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
70,928
45,824
--------
--------
Shareholders funds
71,028
45,924
--------
--------
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.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 April 2024 , and are signed on behalf of the board by:
S J Solway
Director
Company registration number: 05464356
The Cottage Bakery (Ampthill) Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR, Beds.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Property improvements
-
On cost
Plant & machinery
-
33% straight line
Fixtures & fittings
-
10% straight line
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 stock to its 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 as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets. financial liabilities or equity instruments. An equity instrument ia any contact that evidences a residual interest in the assets of the company after deducting all of its liabilities
4. Employee numbers
The average number of persons employed by the company during the year amounted to 32 (2022: 30 ).
5. Intangible assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
270,000
---------
Amortisation
At 1 August 2022
226,833
Charge for the year
13,500
---------
At 31 July 2023
240,333
---------
Carrying amount
At 31 July 2023
29,667
---------
At 31 July 2022
43,167
---------
6. Tangible assets
Property improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2022
42,701
17,198
221,702
43,172
324,773
Disposals
( 14,579)
( 14,579)
--------
--------
---------
--------
---------
At 31 July 2023
42,701
17,198
207,123
43,172
310,194
--------
--------
---------
--------
---------
Depreciation
At 1 August 2022
32,055
6,875
212,396
23,808
275,134
Charge for the year
2,821
4,499
4,611
4,842
16,773
Disposals
( 14,513)
( 14,513)
--------
--------
---------
--------
---------
At 31 July 2023
34,876
11,374
202,494
28,650
277,394
--------
--------
---------
--------
---------
Carrying amount
At 31 July 2023
7,825
5,824
4,629
14,522
32,800
--------
--------
---------
--------
---------
At 31 July 2022
10,646
10,323
9,306
19,364
49,639
--------
--------
---------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
43,230
39,652
Other debtors
23,174
5,315
--------
--------
66,404
44,967
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,192
10,012
Trade creditors
36,603
31,650
Corporation tax
15,763
8,306
Social security and other taxes
4,342
Other creditors
19,801
85,697
--------
---------
82,359
140,007
--------
---------
Bank loans and overdrafts due within one year and after one year are in respect of a Coronavirus Bounce Back loan which is not secured on the assets of the company .
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,050
30,242
--------
--------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
32,500
Later than 1 year and not later than 5 years
156,875
Later than 5 years
37,500
---------
----
226,875
---------
----