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REGISTERED NUMBER: 04589534 (England and Wales)









WALDRONS PATISSERIE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WALDRONS PATISSERIE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R J Waldron
J C Waldron





REGISTERED OFFICE: Units 1-5 Churchills
Mardle Way Industrial Estate
BUCKFASTLEIGH
Devon
TQ11 0NR





REGISTERED NUMBER: 04589534 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 60,456 81,999
60,456 81,999

CURRENT ASSETS
Stocks 116,957 137,872
Debtors 324,703 207,245
Cash at bank 7,603 43,173
449,263 388,290
CREDITORS
Amounts falling due within one year 159,403 155,756
NET CURRENT ASSETS 289,860 232,534
TOTAL ASSETS LESS CURRENT LIABILITIES 350,316 314,533

CREDITORS
Amounts falling due after more than one year (9,416 ) (20,731 )

PROVISIONS FOR LIABILITIES (12,499 ) (10,191 )
NET ASSETS 328,401 283,611

CAPITAL AND RESERVES
Called up share capital 1,210 1,210
Retained earnings 327,191 282,401
SHAREHOLDERS' FUNDS 328,401 283,611

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

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

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





R J Waldron - Director


WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Waldrons Patisserie Limited 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover is recognised when the goods are delivered to the customer.

Goodwill
Goodwill relates to the acquisition of a business in 2004 and was previously being amortised evenly over its initial estimated useful economic life of 20 years.

The Directors have reviewed the policy and agreed that with effect from 1 January 2015 the remaining balance of goodwill is to be written off over a period of 5 years. Thus, as at 31 December 2019, the goodwill had been fully amortised.

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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery - Straight line over 10 years
Fixtures and fittings - Straight line over 10 years
Motor vehicles - 20% Reducing balance


Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

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

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit & loss account at a constant rate of charge on the balance of capital repayments outstanding.

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

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary cost payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 60,000
AMORTISATION
At 1 January 2023
and 31 December 2023 60,000
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 374,554
Additions 22,895
Disposals (36,913 )
At 31 December 2023 360,536
DEPRECIATION
At 1 January 2023 292,555
Charge for year 17,368
Eliminated on disposal (9,843 )
At 31 December 2023 300,080
NET BOOK VALUE
At 31 December 2023 60,456
At 31 December 2022 81,999

WALDRONS PATISSERIE LIMITED (REGISTERED NUMBER: 04589534)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023 62,188
Additions 22,895
Disposals (36,913 )
Transfer to ownership (25,275 )
At 31 December 2023 22,895
DEPRECIATION
At 1 January 2023 16,360
Charge for year 6,857
Eliminated on disposal (9,844 )
Transfer to ownership (11,083 )
At 31 December 2023 2,290
NET BOOK VALUE
At 31 December 2023 20,605
At 31 December 2022 45,828

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 6,674 14,544
Between one and five years 9,416 20,731
16,090 35,275

Non-cancellable operating leases
2023 2022
£    £   
Within one year 54,000 54,000
Between one and five years 216,000 216,000
In more than five years 193,500 247,500
463,500 517,500

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 16,090 35,275

The security is held over the asset to which the liability relates.