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Registration number: 05958094

Winnie's Bakery Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Winnie's Bakery Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Winnie's Bakery Limited

Company Information

Directors

K S Pullin

C A Stevens

J Chamberlain

Registered office

5 Meadow Street
Weston-super-Mare
Somerset
BS23 1QG

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Winnie's Bakery Limited

(Registration number: 05958094)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

202,433

225,939

Current assets

 

Stocks

5

43,731

36,165

Debtors

6

114,761

105,143

Cash at bank and in hand

 

135,630

130,926

 

294,122

272,234

Creditors: Amounts falling due within one year

7

(202,219)

(148,888)

Net current assets

 

91,903

123,346

Total assets less current liabilities

 

294,336

349,285

Creditors: Amounts falling due after more than one year

7

(35,994)

(55,120)

Provisions for liabilities

(44,346)

(39,520)

Net assets

 

213,996

254,645

Capital and reserves

 

Called up share capital

76,000

126,000

Retained earnings

137,996

128,645

Shareholders' funds

 

213,996

254,645

For the financial year ending 31 October 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.

 

Winnie's Bakery Limited

(Registration number: 05958094)
Balance Sheet as at 31 October 2023

These financial statements 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
C A Stevens
Director

 

Winnie's Bakery Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 of the financial statements is Pound Sterling (£).

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 current and 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.

 

Winnie's Bakery Limited

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

2

Accounting policies (continued)

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.

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

Short leasehold

Straight line over 10 years

Improvements to property

15% on reducing balance

Plant and machinery

15% on reducing balance

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

Straight line over 3 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

Winnie's Bakery Limited

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

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Winnie's Bakery Limited

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

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 37 (2022 - 31).

 

Winnie's Bakery Limited

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

4

Tangible assets

Land and buildings
£

Improvements to property
£

Fixtures and fittings
 £

Motor vehicles
 £

Cost or valuation

At 1 November 2022

9,522

46,344

122,431

107,732

Additions

-

-

97

-

Disposals

-

-

-

(10,999)

At 31 October 2023

9,522

46,344

122,528

96,733

Depreciation

At 1 November 2022

7,617

30,308

90,572

52,337

Charge for the year

951

2,405

4,248

8,442

Eliminated on disposal

-

-

-

(10,173)

At 31 October 2023

8,568

32,713

94,820

50,606

Carrying amount

At 31 October 2023

954

13,631

27,708

46,127

At 31 October 2022

1,905

16,036

31,861

55,395

 

Winnie's Bakery Limited

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

4

Tangible assets (continued)

Computer equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 November 2022

21,127

219,775

526,931

Additions

1,754

9,933

11,784

Disposals

-

-

(10,999)

At 31 October 2023

22,881

229,708

527,716

Depreciation

At 1 November 2022

17,399

102,760

300,993

Charge for the year

2,720

15,697

34,463

Eliminated on disposal

-

-

(10,173)

At 31 October 2023

20,119

118,457

325,283

Carrying amount

At 31 October 2023

2,762

111,251

202,433

At 31 October 2022

3,728

117,014

225,939

Included within the net book value of land and buildings above is £953 (2022 - £1,904) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Stocks

43,731

36,165

 

Winnie's Bakery Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

83,508

67,880

Prepayments

14,796

15,763

Other debtors

16,457

21,500

 

114,761

105,143

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

20,271

22,063

Trade creditors

 

91,106

66,144

Taxation and social security

 

15,850

16,884

Accruals and deferred income

 

56,033

43,443

Other creditors

 

18,959

354

 

202,219

148,888

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

35,994

55,120

 

Winnie's Bakery Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

3,369

2,995

Hire purchase contracts

32,625

52,125

35,994

55,120

Current loans and borrowings

2023
£

2022
£

Bank borrowings

-

2,660

Hire purchase contracts

20,271

19,403

20,271

22,063