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Registered number: 11422182
Chantilly Patisserie Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—8
Page 1
Statement of Financial Position
Registered number: 11422182
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 22,368
Tangible Assets 5 73,846 48,840
73,847 71,208
CURRENT ASSETS
Stocks 6 290,097 238,930
Debtors 7 165,578 169,902
Cash at bank and in hand 52,039 139,068
507,714 547,900
Creditors: Amounts Falling Due Within One Year 8 (215,568 ) (248,633 )
NET CURRENT ASSETS (LIABILITIES) 292,146 299,267
TOTAL ASSETS LESS CURRENT LIABILITIES 365,993 370,475
Creditors: Amounts Falling Due After More Than One Year 9 (99,145 ) (153,129 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (12,000 ) (12,000 )
Deferred Taxation (12,007 ) -
NET ASSETS 242,841 205,346
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Share premium account 259,000 259,000
Income Statement (17,159 ) (54,654 )
SHAREHOLDERS' FUNDS 242,841 205,346
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For the year ending 31 January 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr M Rowe
Director
01/10/2024
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Chantilly Patisserie Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11422182 . The registered office is 4 Streamside Court, Aspen Way, Yalberton Industrial Estate, Paignton, Devon, TQ4 7QR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. 
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
Financial Instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
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2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises. 
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2.10. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
2.11. 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 in finance costs in profit or loss in the period it arises.
2.12. Fixed asset investment
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit and loss.
2.13. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.  The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2023: 33)
33 33
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 111,888
As at 31 January 2024 111,888
Amortisation
As at 1 February 2023 89,520
Provided during the period 22,367
As at 31 January 2024 111,887
Net Book Value
As at 31 January 2024 1
As at 1 February 2023 22,368
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 February 2023 3,529 91,119 - 94,648
Additions - 17,003 18,995 35,998
As at 31 January 2024 3,529 108,122 18,995 130,646
Depreciation
As at 1 February 2023 1,127 44,681 - 45,808
Provided during the period 588 10,008 396 10,992
As at 31 January 2024 1,715 54,689 396 56,800
Net Book Value
As at 31 January 2024 1,814 53,433 18,599 73,846
As at 1 February 2023 2,402 46,438 - 48,840
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6. Stocks
2024 2023
£ £
Materials 290,097 238,930
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 127,911 139,227
Other debtors 37,667 30,675
165,578 169,902
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 102,932 126,875
Bank loans and overdrafts 54,000 53,997
Corporation tax 17,324 5,790
Other taxes and social security 12,959 12,735
Other creditors 6,320 3,078
Accruals and deferred income 22,026 45,209
Directors' loan accounts 7 949
215,568 248,633
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 99,145 153,129
There are fixed and floating charges created 21 January 2019 and 4 February 2019 in respect of Company liabilities to Barclays Bank Plc.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Later than one year and not later than five years 23,568 23,568
23,568 23,568
12. Controlling Party
The company is under effective control by its directors
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