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REGISTERED NUMBER: 00132872 (England and Wales)




















Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2023

for

Mademoiselle Desserts Taunton Limited

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Mademoiselle Desserts Taunton Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr D Boudy
Mr H G Verdino
Mr N Taylor
Mr E Sabatie-Garat
Ms R Sudhir



SECRETARY: Mr E Sabatie-Garat



REGISTERED OFFICE: The Bakery
Gardner Road
Maidenhead
Berkshire
SL6 7TU



REGISTERED NUMBER: 00132872 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr Julian Payne BA FCA



AUDITORS: Clifford Roberts - Statutory Auditor
63 Broad Green
Wellingborough
Northamptonshire
NN8 4LQ

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

Principal Activity

The principle activity of the company is the manufacture and wholesale of bakery products.

Business Review

The 12 months to 31st December 2023 showed growth in Turnover of 12.7% to £29,701,717 from £26,346,871. Profit/(Loss) for the year after Tax amounts to £2,799,416 in 2023 and was £1,654,087 in 2022.

The business operates predominantly in the hospitality industry. We witnessed very good growth vs the previous year growing category share in our biggest customer. We also benefitted by winning new business in new categories within retail.

The Company continued to absorb unprecedented raw materials increases throughout 2023. We managed to cover these increases with a price increase with our customers between January and March.

The level of inflation and cost of living combined with the labour shortage in food service has increased the challenge on growing top line sales and profitability in the high street, in restaurants and pubs. The New Product Development team have developed an extended core with a focus on the continually growing area of Vegan. The team have also developed continental classics alongside retro flavour profiles which gained great traction in 2023.

The new ERP system continues to play a key role in fast access to information and allowing the teams to find and fix issues quickly while improving efficiency.

.

Key Performance Indicators

The Directors monitor the performance of the company through monthly KPIs which include, but are not limited to:

Net Sales
Gross Profit
EBITDA
Net Working Capital
Cash generation and
Manufacturing data.


Principal Risks and Uncertainties

Going Concern

Based on forecasts and projections, together with available market information and the director's knowledge and experience of the industry, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Accordingly the company continues to adopt the going concern basis in preparing the annual financial statements.

With the business' focus being on planning ahead with new product ranges, investment in key new equipment alongside excellent customer contact and communication, it has lead to the business strengthen it's relationships and build relationships with new potential customers to get a strong start in 2024.







Price Risk

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

Strategic Report
for the Year Ended 31 December 2023


The Company is exposed to commodity price risk due to its operations. The Company looks to mitigate this risk wherever possible by entering into price and volume contracts to support its performance. The volatility of the commodity market as well increase in the packaging costs due to board costs going up, forced the company to increase their prices and thereby rebalance the product margins

Credit Risk

The Company has the policy of obtaining credit insurance on its customers, wherever possible, to mitigate the associated credit risk. There is also a policy in place to carry out appropriate credit checks on potential customers before sales are made. However, due to the blue-chip nature of our customer base, we have an excellent record in this area.

Cash Flow Risk

The Company is exposed to movements in working capital. To mitigate this the Company operates appropriate credit collection process to minimise over due debts. Supplier payments are maintained to agreed terms and inventory is monitored regularly.

Business Risk

The Board has established a formal process of identifying, evaluating and managing the business risk faced, with ongoing review of progress against strategic objectives. The business risks reviewed include:


- external business risk including regulatory and compliance obligations
- operational risk arising from supplier dependency, material damage, fire
- legal risk arising from contracts with suppliers
- information risk including integrity of IT systems and security of information.

ON BEHALF OF THE BOARD:





Mr N Taylor - Director


21 May 2024

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company is the manufacture and sale of frozen dessert products for the UK and European food service market. Products include various types of chocolate fudge cake, cheesecakes, and individual puddings.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

RESEARCH AND DEVELOPMENT
The company continues to develop new products in the areas of frozen desserts and cakes. It continues to actively assess market opportunities in the sector using the extensive product and sector knowledge of its experienced New Product Development team to bring innovative products to the market.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

Mr D Boudy
Mr H G Verdino
Mr N Taylor
Mr E Sabatie-Garat

Other changes in directors holding office are as follows:

Ms R Sudhir - appointed 6 September 2023

EMPLOYEES
The company ensures that employees are made aware of factors that affect the performance of the company and that employees are provided with information on matters which concern them. Employees are also regularly consulted to ensure that their views are taken into account in decisions that affect their interests.

During the year, the company gave full and fair consideration to applications for employment from disabled persons having regard to their particular aptitudes, when related to any suitable opportunities available.

Company policy provides that existing employees who become disabled shall continue employment with the company, if at all possible, subject to any appropriate training.

Training, career development and promotion apply equally to all employees, taking into consideration their aptitudes and abilities.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

Report of the Directors
for the Year Ended 31 December 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Clifford Roberts - Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr N Taylor - Director


21 May 2024

Report of the Independent Auditors to the Members of
Mademoiselle Desserts Taunton Limited

Opinion
We have audited the financial statements of Mademoiselle Desserts Taunton Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Mademoiselle Desserts Taunton Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory framework applicable to the company and the
sector in which they operate. We determined that the following laws and regulations were most significant:
Companies Act 2006, UK Generally Accepted Accounting Practice.
- We obtained an understanding of how the company is complying with those legal and regulatory
frameworks by making inquiries to the management and by observing the oversight of management, the
culture of honesty and ethical behaviour and whether strong emphasis is placed on fraud prevention, which
may reduce the opportunities for fraud to take place, and fraud deterrence, which could persuade
individuals not to commit fraud in the first instance. We corroborated our inquiries through our review of all
relevant available audit information.
- We assessed and understood the susceptibility of the company's financial statements to material
misstatement, including how fraud might occur. Based on this understanding we designed our audit
procedures to identify non-compliance with such laws and regulations. The audit procedures performed by
the engagement team included:
- Identifying and assessing the design and effectiveness of controls management has in place to
prevent and detect fraud;

- Understanding how senior management consider and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process;



- Performing audit work on the risk of management override of the controls, including testing of
journal entries and other adjustments for appropriateness, evaluating the business rationale of
significant transactions outside the normal course of business and reviewing the accounting
estimates for bias; and
- Assessing the extent of compliance with the relevant laws and regulations.


Report of the Independent Auditors to the Members of
Mademoiselle Desserts Taunton Limited


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Julian Payne BA FCA (Senior Statutory Auditor)
for and on behalf of Clifford Roberts - Statutory Auditor
63 Broad Green
Wellingborough
Northamptonshire
NN8 4LQ

21 May 2024

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

Statement of Comprehensive Income
for the Year Ended 31 December 2023

2023 2022
Notes £ £

TURNOVER 3 29,701,717 26,346,871

Cost of sales 20,367,015 19,110,755
GROSS PROFIT 9,334,702 7,236,116

Administrative expenses 5,849,116 5,136,021
OPERATING PROFIT 5 3,485,586 2,100,095

Restructuring costs 6 14,944 -
3,470,642 2,100,095

Interest receivable and similar income 42,932 14,084
Interest payable and similar expenses 7 (24,202 ) (17,007 )
PROFIT BEFORE TAXATION 3,489,372 2,097,172

Tax on profit 8 718,654 443,085
PROFIT FOR THE FINANCIAL YEAR 2,770,718 1,654,087

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,770,718

1,654,087

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 2,697,560 2,565,438
2,697,560 2,565,438

CURRENT ASSETS
Stocks 11 3,378,433 2,312,360
Debtors 12 8,362,199 7,083,743
Cash at bank and in hand 1,438,687 1,475,308
13,179,319 10,871,411
CREDITORS
Amounts falling due within one year 13 4,367,425 4,569,242
NET CURRENT ASSETS 8,811,894 6,302,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,509,454

8,867,607

CREDITORS
Amounts falling due after more than one
year

14

(90,273

)

(272,767

)

PROVISIONS FOR LIABILITIES 19 (363,617 ) (309,994 )
NET ASSETS 11,055,564 8,284,846

CAPITAL AND RESERVES
Called up share capital 20 4,500 4,500
Revaluation reserve 21 847,149 847,149
Capital redemption reserve 21 3,300 3,300
Retained earnings 21 10,200,615 7,429,897
SHAREHOLDERS' FUNDS 11,055,564 8,284,846

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2024 and were signed on its behalf by:





Mr N Taylor - Director


Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£ £ £ £ £
Balance at 1 January 2022 4,500 5,775,810 847,149 3,300 6,630,759

Changes in equity
Total comprehensive income - 1,654,087 - - 1,654,087
Balance at 31 December 2022 4,500 7,429,897 847,149 3,300 8,284,846

Changes in equity
Total comprehensive income - 2,770,718 - - 2,770,718
Balance at 31 December 2023 4,500 10,200,615 847,149 3,300 11,055,564

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

1. STATUTORY INFORMATION

Mademoiselle Desserts Taunton Limited is a private company, limited by shares , registered in England and Wales. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates
Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty at the balance sheet date that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Customer Rebates/Retrospective discounts
The company enters into arrangements with certain customers to pay rebates and/or retrospective discounts depending on volume achieved. These arrangements are negotiated on an individual customer basis. Accruals are recorded when goods are sold according to the terms of the contract and the expected rate at which these payments will be made.

Stock provisions
The company's stock provision is calculated based on a full review of stock at period end. The business will identify stock for which the realisable value is less than cost, stock which is within 6 months of its sell by date and any stock which is considered to be damaged.

Debtors
Debtors are recorded when a sale is made. A review of the recoverability of debt is undertaken periodically through the year to determine any bad debt provision requirement. This review also considers the level of credit insurance cover in place for the customer.

Critical accounting judgments in applying the company's accounting policies
Certain critical accounting judgements (apart from those involving estimations included above) in applying the company's accounting policies are described below:

Sales of goods and services
The company sells goods and ensures that revenue is recognised at the time at which title passes on the sale of goods.

Stock valuation
Stock valuation, in accordance with FRS102, incorporates the cost of raw materials, direct labour costs associated with production and directly attributable overheads. Management reassesses the allocation of these costs at the end of each period.

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

2. ACCOUNTING POLICIES - continued

Revenue
Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales / value added tax, returns, rebates. on the terms of delivery of the goods, and discounts and after eliminating sales within the company.

Turnover is recognised once the risk and rewards relating to a good have been transferred. This will depend on the terms of delivery of the goods.

Intangible assets
Intangible fixed assets purchased separately from a business are capitalised at their cost. Intangible assets acquired as part os an acquisition are capitalised at their fair value where this can be measured reliably.

Software, concessions, patents, licences and trademarks purchased by the Company are amortised on a straight line basis to nil equal annual instalments over their useful economic lives once the asset is in use. Amortisation charges are included within administrative expenses

Asset Class Amortisation rate

Order book - 4 years
Software - 5 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - between 40 and 50 years
Plant and machinery - between 3 and 12 years
Fixtures and fittings - between 3 and 12 years
Motor vehicles - between 3 and 5 years

Tangible fixed assets are stated in the balance sheet at historical valuation or cost less accumulated depreciation and subsequent accumulated impairment losses. Cost includes directly attributable costs and appropriate commissioning costs

Assets under construction are capitalised as costs are incurred. These assets are not depreciated until construction is complete and the asset is in use, at which point it is transferred into an appropriate alternative category.

An impairment of value is determined necessary where the post tax realisable value and continuing use value are less than the net book of an asset. A review is carried out on each reporting date for evidence of impairment. Any impairment loss is recognised in the profit and loss account.

Stocks
Stocks are stated at the lower of cost or net realisable value. Cost is calculated on first-in, first-out (FIFO) basis. Cost includes raw materials, direct labour expenses and related production and other overheads. Net realisable value is the estimated selling price, in the ordinary course of business, less costs to completion and appropriate selling and distribution expenses. Provision is made for obsolete, slow-moving or defective items where appropriate

Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date and any adjustments to tax payable in respect of previous years.


Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is provided in full on timing differences that result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply on crystallisation based on currently enacted tax rates and law. The deferred tax provision is included within provisions for liabilities. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset, or on unremitted earnings of subsidiaries and associates where there is no commitment to remit these earnings.
Deferred tax is determined using 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. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets and liabilities are not discounted.

Research and development
Expenditure on research is written off to the profit and loss account in the year in which it is incurred. Development expenditure is capitalised only where there is a clearly defined project, the expenditure is separately identifiable, the outcome of the project can be assessed with reasonable certainty, aggregate costs are expected to exceed related future sales and adequate resources exist to enable the project to be completed.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result, with gains or losses on translation being included in the profit and loss account.

Hire purchase and leasing commitments
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. A defined contribution plan is a post-employment benefit plan under which the company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. The assets of the scheme are held separately from those of the Company in an independently administered fund. The amount charged to the profit and loss account represents the contributions payable to the scheme in respect of the accounting period.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2023 2022
£ £
United Kingdom 29,625,502 25,916,666
Europe 76,215 430,205
29,701,717 26,346,871

4. EMPLOYEES AND DIRECTORS

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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


2023 2022
£    £   
Wages and Salaries 5,662,727 4,752,748
Social security costs 519,174 444,866
Other pension costs 349,665 214,831

6,531,567 5,412,445

The average number of employees during the year was as follows:
2023 2022

Direct 159 146
Administration 42 39

201 185


5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£ £
Hire of plant and machinery 28,283 32,120
Depreciation - owned assets 400,114 386,149
Profit on disposal of fixed assets (10,850 ) (3,348 )
Audit fee 18,500 18,500
Non audit fees 1,796 5,500
Foreign exchange differences 2,043 1,714

6. EXCEPTIONAL ITEMS
2023 2022
£ £
Restructuring costs (14,944 ) -

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£ £
Bank interest 24,202 17,007

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£ £
Current tax:
UK corporation tax 665,031 306,229

Deferred tax 53,623 136,856
Tax on profit 718,654 443,085

UK corporation tax has been charged at 23.52% .

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£ £
Profit before tax 3,489,372 2,097,172
Profit multiplied by the standard rate of corporation tax in the UK of
23.521% (2022 - 19%)

820,735

398,463

Effects of:
Depreciation in excess of capital allowances 20,879 55,695
Adjustments to tax charge in respect of previous periods - 10
Group relief Surrender (Claimed) (122,945 ) (88,633 )
Other timing differences (15 ) 77,550
Total tax charge 718,654 443,085

9. INTANGIBLE FIXED ASSETS
Computer
Order book software Totals
£ £ £
COST
At 1 January 2023
and 31 December 2023 2,159,777 340,774 2,500,551
AMORTISATION
At 1 January 2023
and 31 December 2023 2,159,777 340,774 2,500,551
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

10. TANGIBLE FIXED ASSETS
Freehold Asset under Plant and
property construction machinery
£ £ £
COST
At 1 January 2023 1,953,619 477,190 4,094,309
Additions - 207,046 276,509
Disposals - (100,000 ) -
Reclassification/transfer - (140,083 ) 96,147
At 31 December 2023 1,953,619 444,153 4,466,965
DEPRECIATION
At 1 January 2023 660,928 - 3,423,475
Charge for year 30,141 - 288,983
Eliminated on disposal - - -
At 31 December 2023 691,069 - 3,712,458
NET BOOK VALUE
At 31 December 2023 1,262,550 444,153 754,507
At 31 December 2022 1,292,691 477,190 670,834

Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 January 2023 617,127 18,560 7,160,805
Additions 148,681 - 632,236
Disposals - (18,560 ) (118,560 )
Reclassification/transfer 43,936 - -
At 31 December 2023 809,744 - 7,674,481
DEPRECIATION
At 1 January 2023 493,380 17,584 4,595,367
Charge for year 80,014 976 400,114
Eliminated on disposal - (18,560 ) (18,560 )
At 31 December 2023 573,394 - 4,976,921
NET BOOK VALUE
At 31 December 2023 236,350 - 2,697,560
At 31 December 2022 123,747 976 2,565,438

Tangible fixed assets are stated in the balance sheet at historical valuation or cost less accumulated depreciation and subsequent accumulated impairment losses. Cost includes directly attributable costs and appropriate commissioning costs.

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

11. STOCKS
2023 2022
£ £
Raw materials 534,564 787,994
Work-in-progress 2,192 10,181
Finished goods 2,841,677 1,514,185
3,378,433 2,312,360

Stocks are stated at the lower of cost or net realisable value. Cost is calculated on first-in, first-out (FIFO) basis. Cost includes raw materials, direct labour expenses and related production and other overheads. Net realisable value is the estimated selling price, in the ordinary course of business, less costs to completion and appropriate selling and distribution expenses. Provision is made for obsolete, slow-moving or defective items where appropriate

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 5,283,819 4,924,536
Amounts owed by group undertakings 2,824,740 1,801,931
VAT 163,734 280,158
Prepayments and accrued income 89,906 77,118
8,362,199 7,083,743

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts (see note 15) 198,111 192,839
Trade creditors 1,891,736 2,672,111
Amounts owed to group undertakings - 1,436
Tax 316,075 95,966
Social security and other taxes 153,738 140,050
Other creditors 109,850 88,199
Accruals and deferred income 1,697,915 1,378,641
4,367,425 4,569,242

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans (see note 15) 90,273 272,767

15. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due within one year or on demand:
Bank loans 198,111 192,839

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

15. LOANS - continued
2023 2022
£ £
Amounts falling due between one and two years:
Bank loans 90,273 198,111

Amounts falling due between two and five years:
Bank loans - 74,656

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 12,604 16,765
Between one and five years 15,506 2,911
28,110 19,676

17. SECURED DEBTS

The HSBC hold a fixed charge over freehold property known as 35 Frobisher Way, Bindon Road, Taunton.

Interest is charged on the mortgage facility at 1.95% per annum over the Bank of England base rate.

18. FINANCIAL INSTRUMENTS

Objectives and policies

The company's principal financial instruments comprise bank balances, inter-company loans, hire purchase creditors, trade creditors and trade debtors.

The company's activities and financial instruments expose it to a number of financial risks, such as movements in interest rates, credit risk, liquidity risk and cash flow risk. The directors review and agree policies for managing each of these risks and these are summarised below.

Interest rate risk
The company is exposed to interest rate risk on interest bearing credit facilities.

Credit risk
The company implemented the policy of obtaining credit insurance on its customers, wherever possible, to mitigate the risk associated with it. With the volatility on the high street due to Brexit and increased levels of uncertainty, this is an area of increased focus for the company. However , due to the blue-chip nature of our customer base we have an excellent record in this area.

Liquidity risk
The company ensures that there are sufficient cash resources within the company to fund capital expenditure and working capital movements. As such the liquidity risk is mitigated.

Cash flow risk
The company is exposed to movements in working capital. To mitigate this the company operates an appropriate credit collection process to minimise overdue customer debts. Supplier payments are maintained to agreed terms and inventory is regularly reviewed against set targets

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

19. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 363,617 309,994

Deferred tax
£
Balance at 1 January 2023 309,994
Accelerated capital allowances 53,623
Balance at 31 December 2023 363,617

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
4,500 Ordinary £1.00 4,500 4,500

21. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£ £ £ £

At 1 January 2023 7,429,897 847,149 3,300 8,280,346
Profit for the year 2,770,718 2,770,718
At 31 December 2023 10,200,615 847,149 3,300 11,051,064

Called up share capital represents the nominal value of shares that have been issued.
The capital redemption reserve represents the nominal value of shares that have been redeemed by the company.
The profit and loss account includes all current and prior period profits and losses.
The revaluation reserve is the surplus or deficit arising on the uplift of the historic valuation of land and buildings to their fair value

22. CAPITAL COMMITMENTS
2023 2022
£ £
Contracted but not provided for in the
financial statements 106,256 132,123

23. OTHER FINANCIAL COMMITMENTS

The company has given a fixed charge, floating charge and negative pledge to Credit Industriel Et Commercial as security against existing and future obligations by group companies.

Mademoiselle Desserts Taunton Limited (Registered number: 00132872)

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

24. ULTIMATE CONTROLLING PARTY

The immediate holding company is Case Topco Limited, a company incorporated in the UK, with a registered office at The Bakery, Gardner Road Maidenhead Berkshire

The ultimate controlling party is Mademoiselle Desserts International, 14 Place Georges Pompidou 78180 Montigny Le Bretonneux, France.