No 1 Baguette Limited SC724799 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Take-away food shop Digita Accounts Production Advanced 6.30.9574.0 true SC724799 2023-04-01 2024-03-31 SC724799 2024-03-31 SC724799 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-31 SC724799 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC724799 core:ShareCapital 2024-03-31 SC724799 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC724799 bus:SmallEntities 2023-04-01 2024-03-31 SC724799 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC724799 bus:FilletedAccounts 2023-04-01 2024-03-31 SC724799 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC724799 bus:RegisteredOffice 2023-04-01 2024-03-31 SC724799 bus:Director1 2023-04-01 2024-03-31 SC724799 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-01 2024-03-31 SC724799 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC724799 bus:Agent1 2023-04-01 2024-03-31 SC724799 countries:Scotland 2023-04-01 2024-03-31 SC724799 2022-03-01 2023-03-31 SC724799 2023-03-31 SC724799 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 SC724799 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC724799 core:ShareCapital 2023-03-31 SC724799 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC724799

No 1 Baguette Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

No 1 Baguette Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

No 1 Baguette Limited

Company Information

Director

S Coltman

Registered office

27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

Accountants

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

DEANS

Chartered Accountants

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
No 1 Baguette Limited for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of No 1 Baguette Limited for the year ended 31 March 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of No 1 Baguette Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of No 1 Baguette Limited and state those matters that we have agreed to state to the Board of Directors of No 1 Baguette Limited, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than No 1 Baguette Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that No 1 Baguette Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of No 1 Baguette Limited. You consider that No 1 Baguette Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of No 1 Baguette Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

16 September 2024

 

No 1 Baguette Limited

(Registration number: SC724799)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

1,000

1,000

Cash at bank and in hand

 

6,776

4,165

 

7,776

5,165

Creditors: Amounts falling due within one year

5

(7,125)

(6,047)

Net assets/(liabilities)

 

651

(882)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

650

(883)

Shareholders' funds/(deficit)

 

651

(882)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 September 2024
 

.........................................
S Coltman
Director

 

No 1 Baguette Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD
United Kingdom

The principal place of business is:
1 Sandbed
Hawick
TD9 0HF

These financial statements were authorised for issue by the director on 16 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company is not directly impacted by Brexit.

The company has suffered financially from the pandemic. Where appropriate, government support in the forms of grants and loans were used to mitigate the impact of lockdowns etc. The directors will continue to assess the impact of the pandemic and make decisions accordingly.

The accounts are presented in £GBP and are rounded to the nearest £1.

Revenue recognition

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales value added tax, returns, rebates and discounts.

Sale of goods – Retail

Sale of goods are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card.

The company does not operate any loyalty programmes.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

No 1 Baguette Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according 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 it’s liabilities.
 Recognition and measurement
Where shares are issued, any component that creates, a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expenses in the profit and loss account.
 Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

4

Stocks

2024
£

2023
£

Other inventories

1,000

1,000

 

No 1 Baguette Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

793

540

Taxation and social security

329

226

Accruals and deferred income

1,000

1,000

Other creditors

5,003

4,281

7,125

6,047

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1