Company registration number 6642613 (England and Wales)
BLOOMSBURY BAKERY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BLOOMSBURY BAKERY LTD
COMPANY INFORMATION
Directors
Mr Nicholas Markiewicz
Mrs Melanie Markiewicz
Mr Sam Markiewicz
Company number
6642613
Registered office
Blue Pig Cottage
1 Elmer Street North
Grantham
Lincs.
NG31 6RE
Accountants
Burgin & Co
Blue Pig Cottage
1 Elmer Street North
Grantham
Lincs.
NG31 6RE
Business address
Inner Street Business Park
Inner Street
Grantham
Lincs
UK
NG31 6HN
BLOOMSBURY BAKERY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BLOOMSBURY BAKERY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
87,310
114,832
Current assets
Stocks
8,963
8,063
Debtors
49,673
47,280
Cash at bank and in hand
10,260
24,840
68,896
80,183
Creditors: amounts falling due within one year
Loans and overdrafts
4,793
15,000
Obligations under finance leases
17,276
26,931
Taxation and social security
26,834
11,867
Other creditors
16,358
23,841
65,261
77,639
Net current assets
3,635
2,544
Total assets less current liabilities
90,945
117,376
Creditors: amounts falling due after more than one year
Loans and overdrafts
22,647
28,749
Obligations under finance leases
46,147
66,525
(68,794)
(95,274)
Provisions for liabilities
(21,827)
(21,818)
Net assets
324
284
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
224
184
Total equity
324
284
BLOOMSBURY BAKERY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Mr Nicholas Markiewicz
Mrs Melanie Markiewicz
Director
Director
Mr Sam Markiewicz
Director
Company registration number 6642613 (England and Wales)
BLOOMSBURY BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Bloomsbury Bakery Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Blue Pig Cottage, 1 Elmer Street North, Grantham, Lincs., NG31 6RE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on reducing balance
Computers
33% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition..
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
BLOOMSBURY BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
26
26
BLOOMSBURY BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
219,878
3,260
87,440
310,578
Depreciation and impairment
At 1 January 2023
185,211
3,118
7,417
195,746
Depreciation charged in the year
7,380
137
20,005
27,522
At 31 December 2023
192,591
3,255
27,422
223,268
Carrying amount
At 31 December 2023
27,287
5
60,018
87,310
At 31 December 2022
34,667
142
80,023
114,832
5
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
15,775
23,880