Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Benjamin Charles Hawkins 01/03/2017 Timothy David Hawkins 01/03/2017 09 September 2024 The principal activity of the Company during the financial year was producing bread and other fresh pastry goods and cakes. 10646063 2024-01-31 10646063 bus:Director1 2024-01-31 10646063 bus:Director2 2024-01-31 10646063 2023-01-31 10646063 core:CurrentFinancialInstruments 2024-01-31 10646063 core:CurrentFinancialInstruments 2023-01-31 10646063 core:Non-currentFinancialInstruments 2024-01-31 10646063 core:Non-currentFinancialInstruments 2023-01-31 10646063 core:ShareCapital 2024-01-31 10646063 core:ShareCapital 2023-01-31 10646063 core:FurtherSpecificReserve1ComponentTotalEquity 2024-01-31 10646063 core:FurtherSpecificReserve1ComponentTotalEquity 2023-01-31 10646063 core:RetainedEarningsAccumulatedLosses 2024-01-31 10646063 core:RetainedEarningsAccumulatedLosses 2023-01-31 10646063 core:Goodwill 2023-01-31 10646063 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-01-31 10646063 core:Goodwill 2024-01-31 10646063 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-01-31 10646063 core:LeaseholdImprovements 2023-01-31 10646063 core:PlantMachinery 2023-01-31 10646063 core:Vehicles 2023-01-31 10646063 core:FurnitureFittings 2023-01-31 10646063 core:OfficeEquipment 2023-01-31 10646063 core:LeaseholdImprovements 2024-01-31 10646063 core:PlantMachinery 2024-01-31 10646063 core:Vehicles 2024-01-31 10646063 core:FurnitureFittings 2024-01-31 10646063 core:OfficeEquipment 2024-01-31 10646063 core:CostValuation 2023-01-31 10646063 core:AdditionsToInvestments 2024-01-31 10646063 core:CostValuation 2024-01-31 10646063 core:CurrentFinancialInstruments core:Secured 2024-01-31 10646063 bus:OrdinaryShareClass1 2024-01-31 10646063 bus:OrdinaryShareClass2 2024-01-31 10646063 bus:OrdinaryShareClass3 2024-01-31 10646063 bus:OrdinaryShareClass4 2024-01-31 10646063 bus:OrdinaryShareClass5 2024-01-31 10646063 core:WithinOneYear 2024-01-31 10646063 core:WithinOneYear 2023-01-31 10646063 core:BetweenOneFiveYears 2024-01-31 10646063 core:BetweenOneFiveYears 2023-01-31 10646063 2023-02-01 2024-01-31 10646063 bus:FilletedAccounts 2023-02-01 2024-01-31 10646063 bus:SmallEntities 2023-02-01 2024-01-31 10646063 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10646063 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10646063 bus:Director1 2023-02-01 2024-01-31 10646063 bus:Director2 2023-02-01 2024-01-31 10646063 core:Goodwill core:TopRangeValue 2023-02-01 2024-01-31 10646063 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-02-01 2024-01-31 10646063 core:LeaseholdImprovements core:TopRangeValue 2023-02-01 2024-01-31 10646063 core:PlantMachinery core:TopRangeValue 2023-02-01 2024-01-31 10646063 core:Vehicles 2023-02-01 2024-01-31 10646063 core:FurnitureFittings 2023-02-01 2024-01-31 10646063 core:OfficeEquipment 2023-02-01 2024-01-31 10646063 2022-02-01 2023-01-31 10646063 core:Goodwill 2023-02-01 2024-01-31 10646063 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-02-01 2024-01-31 10646063 core:LeaseholdImprovements 2023-02-01 2024-01-31 10646063 core:PlantMachinery 2023-02-01 2024-01-31 10646063 core:CurrentFinancialInstruments 2023-02-01 2024-01-31 10646063 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 10646063 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 10646063 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 10646063 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 10646063 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 10646063 bus:OrdinaryShareClass3 2023-02-01 2024-01-31 10646063 bus:OrdinaryShareClass3 2022-02-01 2023-01-31 10646063 bus:OrdinaryShareClass4 2023-02-01 2024-01-31 10646063 bus:OrdinaryShareClass4 2022-02-01 2023-01-31 10646063 bus:OrdinaryShareClass5 2023-02-01 2024-01-31 10646063 bus:OrdinaryShareClass5 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10646063 (England and Wales)

DA BARA LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

DA BARA LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

DA BARA LIMITED

BALANCE SHEET

As at 31 January 2024
DA BARA LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 12,882 14,583
Tangible assets 4 317,936 281,007
Investments 5 300 200
331,118 295,790
Current assets
Stocks 45,684 36,732
Debtors 6 130,964 89,570
Cash at bank and in hand 114,247 51,872
290,895 178,174
Creditors: amounts falling due within one year 7 ( 303,547) ( 257,546)
Net current liabilities (12,652) (79,372)
Total assets less current liabilities 318,466 216,418
Creditors: amounts falling due after more than one year 8 ( 105,433) ( 66,573)
Provision for liabilities ( 63,493) ( 52,450)
Net assets 149,540 97,395
Capital and reserves
Called-up share capital 9 88 88
Fair value reserve 3,479 5,178
Profit and loss account 145,973 92,129
Total shareholders' funds 149,540 97,395

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Da Bara Limited (registered number: 10646063) were approved and authorised for issue by the Board of Directors on 09 September 2024. They were signed on its behalf by:

Benjamin Charles Hawkins
Director
Timothy David Hawkins
Director
DA BARA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
DA BARA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Da Bara Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is Da Bara Bakery, Unit9A A30 Business Park, Lodge Way, Indian Queens, Saint Columb, Cornwall, TR9 6FZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Website costs 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 2 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 41 45

3. Intangible assets

Goodwill Website costs Total
£ £ £
Cost
At 01 February 2023 23,000 5,000 28,000
Additions 0 2,210 2,210
At 31 January 2024 23,000 7,210 30,210
Accumulated amortisation
At 01 February 2023 13,417 0 13,417
Charge for the financial year 2,300 1,611 3,911
At 31 January 2024 15,717 1,611 17,328
Net book value
At 31 January 2024 7,283 5,599 12,882
At 31 January 2023 9,583 5,000 14,583

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 February 2023 73,856 5,522 84,832 297,986 21,857 484,053
Additions 0 216 29,395 68,326 0 97,937
Disposals 0 0 ( 22,398) ( 578) ( 3,144) ( 26,120)
At 31 January 2024 73,856 5,738 91,829 365,734 18,713 555,870
Accumulated depreciation
At 01 February 2023 26,386 3,030 50,042 114,480 9,108 203,046
Charge for the financial year 7,385 2,187 5,635 27,925 1,729 44,861
Disposals 0 0 ( 7,699) ( 353) ( 1,921) ( 9,973)
At 31 January 2024 33,771 5,217 47,978 142,052 8,916 237,934
Net book value
At 31 January 2024 40,085 521 43,851 223,682 9,797 317,936
At 31 January 2023 47,470 2,492 34,790 183,506 12,749 281,007

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 200
Additions 100
At 31 January 2024 300
Carrying value at 31 January 2024 300
Carrying value at 31 January 2023 200

6. Debtors

2024 2023
£ £
Trade debtors 40,182 46,437
Amounts owed by Group undertakings 38,378 24,214
Prepayments 29,870 16,511
VAT recoverable 20,731 843
Other debtors 1,803 1,565
130,964 89,570

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 20,000 20,000
Trade creditors 40,025 37,403
Amounts owed to Group undertakings 0 34,488
Amounts owed to directors 15,264 22,692
Accruals and deferred income 115,539 107,380
Taxation and social security 24,029 0
Obligations under finance leases and hire purchase contracts (secured) 48,286 23,225
Other creditors 40,404 12,358
303,547 257,546

The hire purchase contracts are secured against those assets of which they relate to.

The bank loan is secured by a debenture over all of the company's assets and undertakings. It also has a cross guarantee in the form of a debenture from Da Bara (RHL) Limited over all of its assets and undertakings.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 28,333 48,333
Obligations under finance leases and hire purchase contracts (secured) 77,100 18,240
105,433 66,573

The hire purchase contracts are secured against those assets of which they relate to.

The bank loan is secured by a debenture over all of the company's assets and undertakings. It also has a cross guarantee in the form of a debenture from Da Bara (RHL) Limited over all of its assets and undertakings.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
84 Ordinary shares of £ 1.00 each 84 84
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
1 Ordinary C share of £ 1.00 1 1
1 Ordinary D share of £ 1.00 1 1
88 88

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 52,000 52,000
between one and five years 208,000 260,000
260,000 312,000