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Registered number: 10637880
Oven Fresh Bakery Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Merranti Figures Accounting Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10637880
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,642 6,872
4,642 6,872
CURRENT ASSETS
Debtors 5 31,889 27,558
Cash at bank and in hand 18,386 35,888
50,275 63,446
Creditors: Amounts Falling Due Within One Year 6 (41,510 ) (41,131 )
NET CURRENT ASSETS (LIABILITIES) 8,765 22,315
TOTAL ASSETS LESS CURRENT LIABILITIES 13,407 29,187
Creditors: Amounts Falling Due After More Than One Year 7 (13,333 ) (29,051 )
NET ASSETS 74 136
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account (26 ) 36
SHAREHOLDERS' FUNDS 74 136
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Daniel Miles
Director
5 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Oven Fresh Bakery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10637880 . The registered office is 49 Lesbourne Road, Reigate, Surrey, RH2 7JS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Motor Vehicles 25% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 16)
16 16
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 51,259 14,429 65,688
Additions 1,145 - 1,145
As at 31 March 2024 52,404 14,429 66,833
Depreciation
As at 1 April 2023 48,169 10,647 58,816
Provided during the period 2,619 756 3,375
As at 31 March 2024 50,788 11,403 62,191
Net Book Value
As at 31 March 2024 1,616 3,026 4,642
As at 1 April 2023 3,090 3,782 6,872
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,393 9,311
Other debtors 3,496 18,247
31,889 27,558
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,270 2,553
Trade creditors 19,368 17,972
Bank loans and overdrafts 10,000 10,000
Other creditors 1,230 4,212
Taxation and social security 7,642 6,394
41,510 41,131
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 5,718
Bank loans 13,333 23,333
13,333 29,051
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,270 2,553
Later than one year and not later than five years - 5,718
3,270 8,271
3,270 8,271
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Daniel Miles 17,458 1,845 (17,458 ) - 1,845
The above loan is unsecured, interest free and repayable on demand.
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