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REGISTERED NUMBER: 07834262 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2023

for

THE EXPLODING BAKERY LIMITED

THE EXPLODING BAKERY LIMITED (REGISTERED NUMBER: 07834262)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE EXPLODING BAKERY LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: O W Coysh
T L Oxford-Edwards





REGISTERED OFFICE: 4 Otter Court Manaton Close
Marsh Barton Trading Estate
Exeter
Devon
EX2 8PF





REGISTERED NUMBER: 07834262 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

THE EXPLODING BAKERY LIMITED (REGISTERED NUMBER: 07834262)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,954 10,132
Tangible assets 5 306,293 107,624
311,247 117,756

CURRENT ASSETS
Stocks 133,010 93,870
Debtors 6 235,679 228,787
Cash at bank and in hand 263,902 196,866
632,591 519,523
CREDITORS
Amounts falling due within one year 7 (180,700 ) (189,308 )
NET CURRENT ASSETS 451,891 330,215
TOTAL ASSETS LESS CURRENT
LIABILITIES

763,138

447,971

CREDITORS
Amounts falling due after more than one
year

8

(151,502

)

(56,121

)

PROVISIONS FOR LIABILITIES (69,155 ) (14,450 )
NET ASSETS 542,481 377,400

CAPITAL AND RESERVES
Called up share capital 125 125
Retained earnings 542,356 377,275
542,481 377,400

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.

THE EXPLODING BAKERY LIMITED (REGISTERED NUMBER: 07834262)

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.

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 25 September 2024 and were signed on its behalf by:




T L Oxford-Edwards - Director



O W Coysh - Director


THE EXPLODING BAKERY LIMITED (REGISTERED NUMBER: 07834262)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

The Exploding Bakery 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are being amortised evenly over their estimated useful life of 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - Straight line over 6 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
Financial instruments are classified and accounted for, accordingly to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


THE EXPLODING BAKERY LIMITED (REGISTERED NUMBER: 07834262)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

Assets obtained under hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 20,483
Additions 1,980
At 31 December 2023 22,463
AMORTISATION
At 1 January 2023 10,351
Charge for year 7,158
At 31 December 2023 17,509
NET BOOK VALUE
At 31 December 2023 4,954
At 31 December 2022 10,132

THE EXPLODING BAKERY LIMITED (REGISTERED NUMBER: 07834262)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 January 2023 - 109,218 117,459
Additions 52,878 174,057 4,477
At 31 December 2023 52,878 283,275 121,936
DEPRECIATION
At 1 January 2023 - 60,110 63,914
Charge for year 735 19,806 13,675
At 31 December 2023 735 79,916 77,589
NET BOOK VALUE
At 31 December 2023 52,143 203,359 44,347
At 31 December 2022 - 49,108 53,545

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 3,650 5,679 236,006
Additions - 3,250 234,662
At 31 December 2023 3,650 8,929 470,668
DEPRECIATION
At 1 January 2023 3,284 1,074 128,382
Charge for year 92 1,685 35,993
At 31 December 2023 3,376 2,759 164,375
NET BOOK VALUE
At 31 December 2023 274 6,170 306,293
At 31 December 2022 366 4,605 107,624

THE EXPLODING BAKERY LIMITED (REGISTERED NUMBER: 07834262)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 22,900
Additions 170,868
At 31 December 2023 193,768
DEPRECIATION
At 1 January 2023 5,726
Charge for year 11,414
At 31 December 2023 17,140
NET BOOK VALUE
At 31 December 2023 176,628
At 31 December 2022 17,174

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 138,415 164,141
Other debtors 6,670 12,571
Other debtor - intercompany 19,538 15,634
VAT 54,186 26,039
Prepayments 16,870 10,402
235,679 228,787

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 17,575 17,272
Hire purchase contracts (see note 9) 53,795 4,580
Trade creditors 63,050 75,955
Tax 8,601 35,537
Social security and other taxes 13,170 10,512
Other creditors 6,394 (3,871 )
Directors' loan accounts 9,672 11,206
Accruals and deferred income 8,443 38,117
180,700 189,308

THE EXPLODING BAKERY LIMITED (REGISTERED NUMBER: 07834262)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 17,273 17,273
Bank loans - 2-5 years 7,230 24,500
Hire purchase contracts (see note 9) 126,999 14,348
151,502 56,121

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 53,795 4,580
Between one and five years 126,999 14,348
180,794 18,928

Non-cancellable operating leases
2023 2022
£    £   
Within one year 50,000 26,000
Between one and five years 145,833 75,833
In more than five years 22,000 -
217,833 101,833

10. ULTIMATE CONTROLLING PARTY

The company is controlled by William & Lyall Limited, a company registered in England and Wales.

The registered office and principal place of business is:

4 Otter Court Manaton Close
Marsh Barton Trading Estate
Exeter
EX2 8PF

Group accounts are not prepared by William & Lyall Limited.