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REGISTERED NUMBER: 01030333 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HOME MADE BAKERY (ESSEX) LIMITED

HOME MADE BAKERY (ESSEX) LIMITED (REGISTERED NUMBER: 01030333)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOME MADE BAKERY (ESSEX) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs K E Dann
D E Dann
K J Flanagan





REGISTERED OFFICE: 17 Broadway West
Leigh on Sea
Essex
SS9 2BZ





REGISTERED NUMBER: 01030333 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

HOME MADE BAKERY (ESSEX) LIMITED (REGISTERED NUMBER: 01030333)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,544,593 1,535,425

CURRENT ASSETS
Stocks 11,470 11,160
Debtors 5 50,680 43,608
Cash at bank and in hand 223,775 178,119
285,925 232,887
CREDITORS
Amounts falling due within one year 6 201,695 184,904
NET CURRENT ASSETS 84,230 47,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,628,823

1,583,408

CREDITORS
Amounts falling due after more than one
year

7

(144,681

)

(156,956

)

PROVISIONS FOR LIABILITIES (95,341 ) (95,341 )
NET ASSETS 1,388,801 1,331,111

CAPITAL AND RESERVES
Called up share capital 103 103
Revaluation reserve 10 1,062,395 1,073,730
Retained earnings 10 326,303 257,278
SHAREHOLDERS' FUNDS 1,388,801 1,331,111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

HOME MADE BAKERY (ESSEX) LIMITED (REGISTERED NUMBER: 01030333)

BALANCE SHEET - continued
31 MARCH 2024


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 15 August 2024 and were signed on its behalf by:




Mrs K E Dann - Director



D E Dann - Director


HOME MADE BAKERY (ESSEX) LIMITED (REGISTERED NUMBER: 01030333)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Home Made Bakery (Essex) 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of sales excluding value added tax and trade discounts.


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.
Freehold property - 1% on cost
Fixtures, fittings and equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value.


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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

HOME MADE BAKERY (ESSEX) LIMITED (REGISTERED NUMBER: 01030333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 56 (2023 - 53 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 1,587,480 641,057 75,124 24,947 2,328,608
Additions - 58,000 - - 58,000
At 31 March 2024 1,587,480 699,057 75,124 24,947 2,386,608
DEPRECIATION
At 1 April 2023 147,406 591,398 33,590 20,789 793,183
Charge for year 15,876 21,532 10,384 1,040 48,832
At 31 March 2024 163,282 612,930 43,974 21,829 842,015
NET BOOK VALUE
At 31 March 2024 1,424,198 86,127 31,150 3,118 1,544,593
At 31 March 2023 1,440,074 49,659 41,534 4,158 1,535,425

Cost or valuation at 31 March 2024 is represented by:

Fixtures,
fittings
Freehold and Motor Computer
property equipment vehicles equipment Totals
£    £    £    £    £   
Valuation in 1988 112,382 - - - 112,382
Valuation in 2002 289,785 - - - 289,785
Valuation in 2006 403,000 - - - 403,000
Valuation in 2009 (193,000 ) - - - (193,000 )
Valuation in 2012 100,000 - - - 100,000
Valuation in 2017 360,000 - - - 360,000
Valuation in 2018 10,000 - - - 10,000
Valuation in 2022 30,517 - - - 30,517
Valuation in 2023 31,127 - - - 31,127
Cost 443,669 699,057 75,124 24,947 1,242,797
1,587,480 699,057 75,124 24,947 2,386,608

HOME MADE BAKERY (ESSEX) LIMITED (REGISTERED NUMBER: 01030333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 443,669 443,669
Aggregate depreciation 51,969 51,969

Freehold property was valued on an open market basis on 31 March 2023 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 33,384
DEPRECIATION
At 1 April 2023 19,301
Charge for year 3,521
At 31 March 2024 22,822
NET BOOK VALUE
At 31 March 2024 10,562
At 31 March 2023 14,083

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,639 24,133
Other debtors 2,433 8,167
VAT 10,608 11,308
50,680 43,608

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,590 14,085
Hire purchase contracts (see note 8) 3,191 4,786
Trade creditors 58,629 61,846
Taxation 47,743 29,652
Social security and other taxes 17,805 15,159
Other creditors 13,115 22,955
Undrawn directors remuneration 40,000 30,000
Directors' current accounts 6,622 6,421
201,695 184,904

HOME MADE BAKERY (ESSEX) LIMITED (REGISTERED NUMBER: 01030333)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 58,359 56,341
Bank loans more than 5 years 86,322 97,424
Hire purchase contracts (see note 8) - 3,191
144,681 156,956

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 86,322 97,424

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 3,191 4,786
Between one and five years - 3,191
3,191 7,977

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 159,271 167,850
Hire purchase contracts 3,191 7,977
162,462 175,827

The bank loan is secured against the freehold property.
The hire purchase liability is secured against the motor vehicle to which it relates.

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 257,278 1,073,730 1,331,008
Profit for the year 156,690 156,690
Dividends (99,000 ) (99,000 )
Transfer to Revaluation Reserve 11,335 - 11,335
Transferred from profit and
loss account - (11,335 ) (11,335 )
At 31 March 2024 326,303 1,062,395 1,388,698