Silverfin false false 27/01/2024 29/01/2023 27/01/2024 Miss T E Tubbs 31/12/2002 Mr N A Tubbs 31/12/2002 Mr H J Tubbs 31/12/2002 11 April 2024 The principal activity of the Company is the manufacture and retail of breads and associated products. 04626211 2024-01-27 04626211 bus:Director1 2024-01-27 04626211 bus:Director2 2024-01-27 04626211 bus:Director3 2024-01-27 04626211 2023-01-28 04626211 core:CurrentFinancialInstruments 2024-01-27 04626211 core:CurrentFinancialInstruments 2023-01-28 04626211 core:Non-currentFinancialInstruments 2024-01-27 04626211 core:Non-currentFinancialInstruments 2023-01-28 04626211 core:ShareCapital 2024-01-27 04626211 core:ShareCapital 2023-01-28 04626211 core:SharePremium 2024-01-27 04626211 core:SharePremium 2023-01-28 04626211 core:CapitalRedemptionReserve 2024-01-27 04626211 core:CapitalRedemptionReserve 2023-01-28 04626211 core:RetainedEarningsAccumulatedLosses 2024-01-27 04626211 core:RetainedEarningsAccumulatedLosses 2023-01-28 04626211 core:Goodwill 2023-01-28 04626211 core:Goodwill 2024-01-27 04626211 core:LandBuildings 2023-01-28 04626211 core:PlantMachinery 2023-01-28 04626211 core:Vehicles 2023-01-28 04626211 core:LandBuildings 2024-01-27 04626211 core:PlantMachinery 2024-01-27 04626211 core:Vehicles 2024-01-27 04626211 bus:OrdinaryShareClass1 2024-01-27 04626211 bus:PreferenceShareClass1 2024-01-27 04626211 2023-01-29 2024-01-27 04626211 bus:FilletedAccounts 2023-01-29 2024-01-27 04626211 bus:SmallEntities 2023-01-29 2024-01-27 04626211 bus:AuditExemptWithAccountantsReport 2023-01-29 2024-01-27 04626211 bus:PrivateLimitedCompanyLtd 2023-01-29 2024-01-27 04626211 bus:Director1 2023-01-29 2024-01-27 04626211 bus:Director2 2023-01-29 2024-01-27 04626211 bus:Director3 2023-01-29 2024-01-27 04626211 core:Goodwill core:TopRangeValue 2023-01-29 2024-01-27 04626211 core:LandBuildings core:TopRangeValue 2023-01-29 2024-01-27 04626211 core:PlantMachinery core:TopRangeValue 2023-01-29 2024-01-27 04626211 core:Vehicles 2023-01-29 2024-01-27 04626211 2022-01-30 2023-01-28 04626211 core:Goodwill 2023-01-29 2024-01-27 04626211 core:LandBuildings 2023-01-29 2024-01-27 04626211 core:PlantMachinery 2023-01-29 2024-01-27 04626211 core:Non-currentFinancialInstruments 2023-01-29 2024-01-27 04626211 bus:OrdinaryShareClass1 2023-01-29 2024-01-27 04626211 bus:OrdinaryShareClass1 2022-01-30 2023-01-28 04626211 bus:PreferenceShareClass1 2023-01-29 2024-01-27 04626211 bus:PreferenceShareClass1 2022-01-30 2023-01-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04626211 (England and Wales)

THE CRUSTY COB (CREATIONS) LIMITED

Unaudited Financial Statements
For the financial period from 29 January 2023 to 27 January 2024
Pages for filing with the registrar

THE CRUSTY COB (CREATIONS) LIMITED

Unaudited Financial Statements

For the financial period from 29 January 2023 to 27 January 2024

Contents

THE CRUSTY COB (CREATIONS) LIMITED

COMPANY INFORMATION

For the financial period from 29 January 2023 to 27 January 2024
THE CRUSTY COB (CREATIONS) LIMITED

COMPANY INFORMATION (continued)

For the financial period from 29 January 2023 to 27 January 2024
DIRECTORS Miss T E Tubbs
Mr N A Tubbs
Mr H J Tubbs
SECRETARY Miss T E Tubbs
REGISTERED OFFICE 14 Skyways Business Park
Fair Oak Close
Clyst Honiton
Exeter
EX5 2UL
United Kingdom
COMPANY NUMBER 04626211 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
THE CRUSTY COB (CREATIONS) LIMITED

BALANCE SHEET

As at 27 January 2024
THE CRUSTY COB (CREATIONS) LIMITED

BALANCE SHEET (continued)

As at 27 January 2024
Note 27.01.2024 28.01.2023
£ £
Fixed assets
Intangible assets 3 4,973 8,923
Tangible assets 4 473,291 483,444
478,264 492,367
Current assets
Stocks 42,896 50,714
Debtors 5 61,953 55,448
Cash at bank and in hand 162,890 387,901
267,739 494,063
Creditors: amounts falling due within one year 6 ( 124,585) ( 131,586)
Net current assets 143,154 362,477
Total assets less current liabilities 621,418 854,844
Creditors: amounts falling due after more than one year 7 ( 102,441) ( 140,983)
Provision for liabilities ( 91,000) ( 91,050)
Net assets 427,977 622,811
Capital and reserves
Called-up share capital 8 111,500 111,500
Share premium account 2,372 2,372
Capital redemption reserve 8,000 8,000
Profit and loss account 306,105 500,939
Total shareholders' funds 427,977 622,811

For the financial period ending 27 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 The Crusty Cob (Creations) Limited (registered number: 04626211) were approved and authorised for issue by the Board of Directors on 11 April 2024. They were signed on its behalf by:

Miss T E Tubbs
Director
THE CRUSTY COB (CREATIONS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 29 January 2023 to 27 January 2024
THE CRUSTY COB (CREATIONS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 29 January 2023 to 27 January 2024
1. Accounting policies

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

General information and basis of accounting

The Crusty Cob (Creations) 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 14 Skyways Business Park, Fair Oak Close, Clyst Honiton, Exeter, EX5 2UL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

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.

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
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:

Land and buildings 20 years straight line
Plant and machinery 15 years straight line
Vehicles 30 % 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 Statement of Income and Retained Earnings 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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 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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

During the year the company received £Nil in relation to Covid related Statutory Sick Pay (2023: £328). The total grants recognised in the accounts are £Nil (2023: £328).

2. Employees

Period from
29.01.2023 to
27.01.2024
Period from
30.01.2022 to
28.01.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 100 100

3. Intangible assets

Goodwill Total
£ £
Cost
At 29 January 2023 349,499 349,499
At 27 January 2024 349,499 349,499
Accumulated amortisation
At 29 January 2023 340,576 340,576
Charge for the financial period 3,950 3,950
At 27 January 2024 344,526 344,526
Net book value
At 27 January 2024 4,973 4,973
At 28 January 2023 8,923 8,923

4. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 29 January 2023 286,481 761,582 43,897 1,091,960
Additions 0 22,103 27,163 49,266
Disposals 0 ( 7,277) ( 21,500) ( 28,777)
At 27 January 2024 286,481 776,408 49,560 1,112,449
Accumulated depreciation
At 29 January 2023 68,590 500,011 39,915 608,516
Charge for the financial period 14,329 38,892 3,629 56,850
Disposals 0 ( 6,937) ( 19,271) ( 26,208)
At 27 January 2024 82,919 531,966 24,273 639,158
Net book value
At 27 January 2024 203,562 244,442 25,287 473,291
At 28 January 2023 217,891 261,571 3,982 483,444

5. Debtors

27.01.2024 28.01.2023
£ £
Trade debtors 16,804 18,172
Prepayments 11,735 12,289
VAT recoverable 3,734 14,986
Corporation tax 19,680 0
Other debtors 10,000 10,001
61,953 55,448

6. Creditors: amounts falling due within one year

27.01.2024 28.01.2023
£ £
Bank loans 38,528 36,875
Trade creditors 20,850 17,888
Accruals 25,409 23,565
Taxation and social security 7,551 24,263
Other creditors 32,247 28,995
124,585 131,586

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

27.01.2024 28.01.2023
£ £
Bank loans (secured) 102,441 140,983

A £152,250 loan was acquired on 22 February 2017 and will mature on 22 February 2027. The loan is being settled by 120 monthly instalments.

A £203,000 loan was acquired on 30 October 2017 and will mature on 29 October 2027. The loan is being settled by 120 monthly instalments.

8. Called-up share capital

27.01.2024 28.01.2023
£ £
Allotted, called-up and fully-paid
3,000 Ordinary shares of £ 1.00 each 3,000 3,000
108,500 12.00% Preference shares of £ 1.00 each 108,500 108,500
111,500 111,500

Dividends:

Preference share holders are entitled to a fixed cumulative cash dividend of 12p per share per annum. The remaining profits which the Company determines to distribute in any financial year shall be applied in distributing the balance of such profits amongst the holders of the Ordinary Shares then in issue pari passu according to the number of such shares held by them respectively.

Voting rights:

Ordinary Shares will confer on each holder thereof (in that capacity) the right to receive notice of an to attend, speak and vote at all general meetings of the Company. Preference Shares shall confer of the holder thereof no right to receive notice of or attend or speak or vote at all general meetings of the Company.

9. Financial commitments

Commitments

Capital commitments are as follows:

27.01.2024 28.01.2023
£ £
Contracted for but not provided for:
Other 819,121 1,159,803

10. Related party transactions

Mr H Tubbs, Mrs T Tubbs and Mr N Tubbs have all provided a personal guarantee in an amount of £150,000 each on behalf of the company.