Registered number
12125965
Bakers Direct Ltd
Filleted Accounts
31 January 2024
Bakers Direct Ltd
Registered number: 12125965
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 77,125 105,208
Current assets
Stocks 551,300 528,800
Debtors 4 277,402 147,865
Cash at bank and in hand 110,300 44,326
939,002 720,991
Creditors: amounts falling due within one year 5 (165,227) (63,102)
Net current assets 773,775 657,889
Total assets less current liabilities 850,900 763,097
Creditors: amounts falling due after more than one year 6 (4,371) (30,039)
Provisions for liabilities (19,300) (19,800)
Net assets 827,229 713,258
Capital and reserves
Called up share capital 100 100
Share premium 295,085 295,085
Profit and loss account 532,044 418,073
Shareholder's funds 827,229 713,258
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Baker
Director
Approved by the board on 12 September 2024
Bakers Direct Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% straight line
Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 35,166 121,235 156,401
Additions 981 - 981
At 31 January 2024 36,147 121,235 157,382
Depreciation
At 1 February 2023 14,266 36,927 51,193
Charge for the year 4,337 24,727 29,064
At 31 January 2024 18,603 61,654 80,257
Net book value
At 31 January 2024 17,544 59,581 77,125
At 31 January 2023 20,900 84,308 105,208
4 Debtors 2024 2023
£ £
Trade debtors 165,608 68,082
Director's loan account 43,751 -
Other debtors 68,043 79,783
277,402 147,865
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,742 17,961
Trade creditors 28,787 15,943
Taxation and social security costs 118,039 23,202
Other creditors 9,659 5,996
165,227 63,102
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 4,371 30,039
7 Other information
Bakers Direct Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 26 & 27
Sedgewick Road
Luton
LU4 9DT
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