30 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 148,679 140,730 7,949 148,679 7,949 xbrli:pure xbrli:shares iso4217:GBP 04608971 2023-06-01 2024-05-31 04608971 2024-05-31 04608971 2023-05-31 04608971 2022-06-01 2023-05-31 04608971 2023-05-31 04608971 2022-05-31 04608971 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04608971 core:PlantMachinery 2023-06-01 2024-05-31 04608971 core:FurnitureFittings 2023-06-01 2024-05-31 04608971 core:MotorVehicles 2023-06-01 2024-05-31 04608971 core:NetGoodwill 2023-06-01 2024-05-31 04608971 bus:Director1 2023-06-01 2024-05-31 04608971 bus:Director3 2023-06-01 2024-05-31 04608971 core:NetGoodwill 2023-05-31 04608971 core:NetGoodwill 2024-05-31 04608971 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 04608971 core:PlantMachinery 2023-05-31 04608971 core:FurnitureFittings 2023-05-31 04608971 core:MotorVehicles 2023-05-31 04608971 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 04608971 core:PlantMachinery 2024-05-31 04608971 core:FurnitureFittings 2024-05-31 04608971 core:MotorVehicles 2024-05-31 04608971 core:WithinOneYear 2024-05-31 04608971 core:WithinOneYear 2023-05-31 04608971 core:AfterOneYear 2024-05-31 04608971 core:AfterOneYear 2023-05-31 04608971 core:ShareCapital 2024-05-31 04608971 core:ShareCapital 2023-05-31 04608971 core:RetainedEarningsAccumulatedLosses 2024-05-31 04608971 core:RetainedEarningsAccumulatedLosses 2023-05-31 04608971 core:BetweenOneFiveYears 2024-05-31 04608971 core:BetweenOneFiveYears 2023-05-31 04608971 core:NetGoodwill 2023-05-31 04608971 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 04608971 core:PlantMachinery 2023-05-31 04608971 core:FurnitureFittings 2023-05-31 04608971 core:MotorVehicles 2023-05-31 04608971 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-05-31 04608971 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-05-31 04608971 bus:Director3 2023-05-31 04608971 bus:Director3 2024-05-31 04608971 bus:Director3 2023-05-31 04608971 bus:Director3 2022-06-01 2023-05-31 04608971 bus:SmallEntities 2023-06-01 2024-05-31 04608971 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04608971 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04608971 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04608971 bus:FullAccounts 2023-06-01 2024-05-31 04608971 core:OfficeEquipment 2023-06-01 2024-05-31 04608971 core:OfficeEquipment 2023-05-31 04608971 core:OfficeEquipment 2024-05-31 04608971 core:AfterOneYear 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 04608971
The Tudor Bakehouse Limited
Unaudited financial statements
31 May 2024
The Tudor Bakehouse Limited
Statement of financial position
31 May 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
7,949
Tangible assets
6
148,757
105,178
---------
---------
148,757
113,127
Current assets
Stocks
10,104
9,875
Debtors
7
43,964
21,494
Cash at bank and in hand
49,729
65,224
---------
-------
103,797
96,593
Creditors: Amounts falling due within one year
8
( 90,995)
( 67,294)
---------
-------
Net current assets
12,802
29,299
---------
---------
Total assets less current liabilities
161,559
142,426
Creditors: Amounts falling due after more than one year
9
( 11,662)
( 24,169)
Provisions
Taxation including deferred tax
( 24,203)
( 27,263)
---------
---------
Net assets
125,694
90,994
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
125,692
90,992
---------
-------
Shareholders funds
125,694
90,994
---------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
The Tudor Bakehouse Limited
Statement of financial position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
Mr P Muncila
Director
Company registration number: 04608971
The Tudor Bakehouse Limited
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Thoroughfare, Harleston, Norfolk, IP20 9AH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Purchased goodwill is stated at cost less amortisation. Amortisation is provided to write off the cost evenly over its estimated useful life of 5 years.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
20% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
20% straight line
Motor vehicles
-
25% reducing balance
Office equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of employees during the year was 30 (2023: 29 ).
5. Intangible assets
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
148,679
---------
Amortisation
At 1 June 2023
140,730
Charge for the year
7,949
---------
At 31 May 2024
148,679
---------
Carrying amount
At 31 May 2024
---------
At 31 May 2023
7,949
---------
6. Tangible assets
Leasehold improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Office Equipment
Total
£
£
£
£
£
£
Cost
At 1 June 2023
18,608
113,202
75,328
28,400
10,141
245,679
Additions
18,770
39,866
13,678
1,462
73,776
-------
---------
-------
-------
-------
---------
At 31 May 2024
37,378
153,068
89,006
28,400
11,603
319,455
-------
---------
-------
-------
-------
---------
Depreciation
At 1 June 2023
15,135
58,233
47,070
10,495
9,568
140,501
Charge for the year
870
15,458
8,989
4,476
404
30,197
-------
---------
-------
-------
-------
---------
At 31 May 2024
16,005
73,691
56,059
14,971
9,972
170,698
-------
---------
-------
-------
-------
---------
Carrying amount
At 31 May 2024
21,373
79,377
32,947
13,429
1,631
148,757
-------
---------
-------
-------
-------
---------
At 31 May 2023
3,473
54,969
28,258
17,905
573
105,178
-------
---------
-------
-------
-------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 May 2024
8,969
------
At 31 May 2023
11,958
-------
7. Debtors
2024
2023
£
£
Trade debtors
6,615
11,452
Other debtors
37,349
10,042
-------
-------
43,964
21,494
-------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
18,461
9,996
Trade creditors
50,020
39,066
Social security and other taxes
13,086
6,695
Other creditors
9,428
11,537
-------
-------
90,995
67,294
-------
-------
Net obligations under finance leases and hire purchase contracts are secured upon the assets to which the liability relates. Bank loans and overdrafts are secured debts included within creditors due within one year.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,662
21,669
Other creditors
2,500
-------
-------
11,662
24,169
-------
-------
Net obligations under finance leases and hire purchase contracts are secured upon the assets to which the liability relates. Bank loans and overdrafts are secured debts included within creditors due after more than one year.
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
30,500
18,000
Later than 1 year and not later than 5 years
75,875
72,000
---------
-------
106,375
90,000
---------
-------
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
A Director
4,052
19,530
( 20,000)
3,582
------
-------
-------
------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
A Director
12,318
( 8,266)
4,052
----
-------
------
------