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REGISTERED NUMBER: 11343162 (England and Wales)







Financial Statements for the Year Ended 31st December 2023

for

Fitbakes Ltd

Fitbakes Ltd (Registered number: 11343162)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fitbakes Ltd

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Ms M Rauen-Prestes
L Butler
Ms D R W Hill
C Hughes





REGISTERED OFFICE: Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU





REGISTERED NUMBER: 11343162 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Fitbakes Ltd (Registered number: 11343162)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,690 1,995
Tangible assets 5 2,216 501
3,906 2,496

CURRENT ASSETS
Stocks 225,315 199,374
Debtors 6 117,672 92,050
Cash at bank 226,406 287,624
569,393 579,048
CREDITORS
Amounts falling due within one year 7 81,414 128,452
NET CURRENT ASSETS 487,979 450,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,885

453,092

CREDITORS
Amounts falling due after more than one
year

8

35,977

40,085
NET ASSETS 455,908 413,007

CAPITAL AND RESERVES
Called up share capital 174 162
Share premium 1,308,625 1,152,518
Retained earnings (852,891 ) (739,673 )
455,908 413,007

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

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

Fitbakes Ltd (Registered number: 11343162)

Balance Sheet - continued
31st December 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 12th August 2024 and were signed on its behalf by:





Ms M Rauen-Prestes - Director


Fitbakes Ltd (Registered number: 11343162)

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

1. STATUTORY INFORMATION

Fitbakes Ltd 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Plant and machinery-25% straight line
Computer equipment-25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of an asset, and is credited or charged to the profit or loss.

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.

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.

Fitbakes Ltd (Registered number: 11343162)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2023
and 31st December 2023 3,050
AMORTISATION
At 1st January 2023 1,055
Charge for year 305
At 31st December 2023 1,360
NET BOOK VALUE
At 31st December 2023 1,690
At 31st December 2022 1,995

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1st January 2023 11,983 1,350 13,333
Additions - 2,681 2,681
At 31st December 2023 11,983 4,031 16,014
DEPRECIATION
At 1st January 2023 11,941 891 12,832
Charge for year 42 924 966
At 31st December 2023 11,983 1,815 13,798
NET BOOK VALUE
At 31st December 2023 - 2,216 2,216
At 31st December 2022 42 459 501

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 101,688 64,464
Social security and other tax - 2,477
VAT 15,984 25,109
117,672 92,050

Fitbakes Ltd (Registered number: 11343162)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,380 4,042
Trade creditors 64,171 116,268
Social security and other taxes 64 -
Other creditors 7,648 4,382
Directors' current accounts 2,191 960
Accrued expenses 2,960 2,800
81,414 128,452

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 4,673 4,321
Bank loans - 2-5 years 15,977 14,833
Bank loans more 5 yr by instal 15,327 20,931
35,977 40,085

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,327 20,931

9. RELATED PARTY DISCLOSURES

In 2021 a formal share option agreement was issued to another director of the company giving him the option to purchase 60,000 shares at £2.25 per share. This agreement has not yet been exercised.