38 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 20,000 20,000 40 40 40 xbrli:pure xbrli:shares iso4217:GBP 06223679 2023-07-01 2024-06-30 06223679 2024-06-30 06223679 2023-06-30 06223679 2022-07-01 2023-06-30 06223679 2023-06-30 06223679 2022-06-30 06223679 core:PlantMachinery 2023-07-01 2024-06-30 06223679 core:MotorVehicles 2023-07-01 2024-06-30 06223679 bus:Director2 2023-07-01 2024-06-30 06223679 core:NetGoodwill 2024-06-30 06223679 core:LandBuildings 2023-06-30 06223679 core:PlantMachinery 2023-06-30 06223679 core:MotorVehicles 2023-06-30 06223679 core:LandBuildings 2024-06-30 06223679 core:PlantMachinery 2024-06-30 06223679 core:MotorVehicles 2024-06-30 06223679 core:LandBuildings 2023-07-01 2024-06-30 06223679 core:WithinOneYear 2024-06-30 06223679 core:WithinOneYear 2023-06-30 06223679 core:AfterOneYear 2024-06-30 06223679 core:AfterOneYear 2023-06-30 06223679 core:ShareCapital 2024-06-30 06223679 core:ShareCapital 2023-06-30 06223679 core:RetainedEarningsAccumulatedLosses 2024-06-30 06223679 core:RetainedEarningsAccumulatedLosses 2023-06-30 06223679 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 06223679 core:Non-currentFinancialInstruments 2024-06-30 06223679 core:Non-currentFinancialInstruments 2023-06-30 06223679 core:LandBuildings 2023-06-30 06223679 core:PlantMachinery 2023-06-30 06223679 core:MotorVehicles 2023-06-30 06223679 core:FurnitureFittings core:LeasedAssetsHeldAsLessee 2024-06-30 06223679 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-06-30 06223679 core:LeasedAssetsHeldAsLessee 2024-06-30 06223679 core:FurnitureFittings core:LeasedAssetsHeldAsLessee 2023-06-30 06223679 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-06-30 06223679 core:LeasedAssetsHeldAsLessee 2023-06-30 06223679 bus:SmallEntities 2023-07-01 2024-06-30 06223679 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06223679 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06223679 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06223679 bus:FullAccounts 2023-07-01 2024-06-30 06223679 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 06223679 core:NetGoodwill 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 06223679
RUBY'S BAKERY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2024
RUBY'S BAKERY LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
185,343
166,166
Investments
7
40
40
----------
----------
185,383
166,206
Current assets
Stocks
156,440
145,336
Debtors
8
267,304
165,525
Cash at bank and in hand
176,270
73,340
----------
----------
600,014
384,201
Creditors: amounts falling due within one year
9
360,440
301,050
----------
----------
Net current assets
239,574
83,151
----------
----------
Total assets less current liabilities
424,957
249,357
Creditors: amounts falling due after more than one year
10
24,859
53,105
Provisions
Taxation including deferred tax
43,729
38,520
----------
----------
Net assets
356,369
157,732
----------
----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
356,269
157,632
----------
----------
Shareholders funds
356,369
157,732
----------
----------
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 statement of income and retained earnings has not been delivered.
RUBY'S BAKERY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
For the year ending 30 June 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 .
These financial statements were approved by the board of directors and authorised for issue on 11 October 2024 , and are signed on behalf of the board by:
Mrs W Sullivan
Director
Company registration number: 06223679
RUBY'S BAKERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 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 168 Church Road, Hove, East Sussex, BN3 2DL.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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 property
-
8.33% straight line
Plant and mchinery
-
25% reducing balance
Motor vehicle
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 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.
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.
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.
Defined contribution plans
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 as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 38 (2023: 25 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
20,000
---------
Amortisation
At 1 July 2023 and 30 June 2024
20,000
---------
Carrying amount
At 30 June 2024
---------
At 30 June 2023
---------
6. Tangible assets
Leasehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
36,295
389,569
124,123
549,987
Additions
27,603
74,096
101,699
Disposals
( 42,476)
( 42,476)
---------
----------
----------
----------
At 30 June 2024
36,295
417,172
155,743
609,210
---------
----------
----------
----------
Depreciation
At 1 July 2023
24,208
299,001
60,612
383,821
Charge for the year
1,659
29,543
28,762
59,964
Disposals
( 19,918)
( 19,918)
---------
----------
----------
----------
At 30 June 2024
25,867
328,544
69,456
423,867
---------
----------
----------
----------
Carrying amount
At 30 June 2024
10,428
88,628
86,287
185,343
---------
----------
----------
----------
At 30 June 2023
12,087
90,568
63,511
166,166
---------
----------
----------
----------
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:
Fixtures and fittings
Motor vehicles
Total
£
£
£
At 30 June 2024
25,831
36,482
62,313
---------
---------
---------
At 30 June 2023
34,442
21,704
56,146
---------
---------
---------
7. Investments
Other investments other than loans
£
Cost
At 1 July 2023 and 30 June 2024
40
----
Impairment
At 1 July 2023 and 30 June 2024
----
Carrying amount
At 30 June 2024
40
----
At 30 June 2023
40
----
8. Debtors
2024
2023
£
£
Trade debtors
221,179
109,675
Other debtors
46,125
55,850
----------
----------
267,304
165,525
----------
----------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
200,638
138,105
Corporation tax
71,510
15,407
Social security and other taxes
13,897
9,277
Other creditors
64,395
128,261
----------
----------
360,440
301,050
----------
----------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,333
23,333
Other creditors
11,526
29,772
---------
---------
24,859
53,105
---------
---------
11. Directors' advances, credits and guarantees
Included within other creditors is an amount of £14,929 (2023: £68,829) due to the directors.
12. Related party transactions
The company was under the control of Mrs Sullivan throughout the current and previous year.