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REGISTERED NUMBER: SC289344 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Pathhead Bakery Limited

Pathhead Bakery Limited (Registered number: SC289344)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pathhead Bakery Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: G McLatchie





REGISTERED OFFICE: Unit 1-3
Waterside Industrial Unit
New Cumnock
Ayrshire
KA18 4DF





REGISTERED NUMBER: SC289344 (Scotland)





ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT

Pathhead Bakery Limited (Registered number: SC289344)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 30,000
Tangible assets 5 202,710 219,278
232,710 249,278

CURRENT ASSETS
Stocks 12,000 7,000
Debtors 6 52,386 50,791
Cash at bank and in hand 101,396 144,717
165,782 202,508
CREDITORS
Amounts falling due within one year 7 139,352 169,772
NET CURRENT ASSETS 26,430 32,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,140

282,014

CREDITORS
Amounts falling due after more than one
year

8

(27,500

)

(27,500

)

PROVISIONS FOR LIABILITIES (8,784 ) (9,418 )

ACCRUALS AND DEFERRED INCOME (7,000 ) (7,200 )
NET ASSETS 215,856 237,896

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 215,854 237,894
SHAREHOLDERS' FUNDS 215,856 237,896

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pathhead Bakery Limited (Registered number: SC289344)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





G McLatchie - Director


Pathhead Bakery Limited (Registered number: SC289344)

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

1. STATUTORY INFORMATION

Pathhead Bakery Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold Land and buildings 2% straight line
Computer equipment 33.33% straight line
Fixtures, fittings and equipment10% straight line
Motor vehicles 20% straight line

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Pathhead Bakery Limited (Registered number: SC289344)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Government grants
Grants are credited to deferred revenue. Grants toward capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants toward revenue expenditure are released to the profit and loss account as the related expenditure is incurred over the period to which the grant relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 200,000
AMORTISATION
At 1 September 2022
and 31 August 2023 170,000
NET BOOK VALUE
At 31 August 2023 30,000
At 31 August 2022 30,000

Pathhead Bakery Limited (Registered number: SC289344)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 240,472 279,898 520,370
Additions - 6,800 6,800
Disposals - (45,862 ) (45,862 )
At 31 August 2023 240,472 240,836 481,308
DEPRECIATION
At 1 September 2022 70,375 230,717 301,092
Charge for year 4,763 15,771 20,534
Eliminated on disposal - (43,028 ) (43,028 )
At 31 August 2023 75,138 203,460 278,598
NET BOOK VALUE
At 31 August 2023 165,334 37,376 202,710
At 31 August 2022 170,097 49,181 219,278

Included in cost of land and buildings is freehold land of £ 2,340 (2022 - £ 2,340 ) which is not depreciated.

The net book value of plant and machinery includes £4,010 (2022 £8,020) in respect of assets held under finance leases or hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 45,418 46,259
Other debtors 6,968 4,532
52,386 50,791

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts - 10,000
Hire purchase contracts - 382
Trade creditors 93,446 91,103
Amounts owed to associates 17,516 18,822
Taxation and social security 6,100 7,795
Other creditors 22,290 41,670
139,352 169,772

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 27,500 27,500

Pathhead Bakery Limited (Registered number: SC289344)

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

9. RELATED PARTY DISCLOSURES

Pathhead Bakery partnership

Pathhead Bakery partnership is a related party by virtue of common control. During the year under review the following transactions took place:

31.8.2331.8.22
£ £
Amount due to partnership at 1 September 202218,8228,335
Amounts invoiced by partnership55,54155,451
Amounts paid to partnership(55,541)(43,656)
Expenses paid on behalf of partnership(1,306)(1,398)
Amount due to partnership at 31 August 202317,51618,822