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Company Registration No. SC622696 (Scotland)
Clyde Bakery Limited Unaudited accounts for the year ended 29 February 2024
Clyde Bakery Limited Unaudited accounts Contents
Page
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Clyde Bakery Limited Company Information for the year ended 29 February 2024
Director
Janine Susan Assadi
Company Number
SC622696 (Scotland)
Registered Office
20 FORTH STREET GLASGOW G41 2SS UNITED KINGDOM
Accountants
Nairn Ltd 29 St Andrews Park Troon Ayrshire KA10 7GQ
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Clyde Bakery Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
173,888 
180,019 
Investments
129 
129 
174,017 
180,148 
Current assets
Inventories
1,500 
- 
Debtors
120,311 
201,948 
Cash at bank and in hand
24,155 
56,893 
145,966 
258,841 
Creditors: amounts falling due within one year
(272,120)
(160,295)
Net current (liabilities)/assets
(126,154)
98,546 
Total assets less current liabilities
47,863 
278,694 
Creditors: amounts falling due after more than one year
(21,235)
(233,271)
Provisions for liabilities
Deferred tax
(5,040)
(8,611)
Net assets
21,588 
36,812 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
21,488 
36,712 
Shareholders' funds
21,588 
36,812 
For the year ending 29 February 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 October 2024 and were signed on its behalf by
Janine Susan Assadi Director Company Registration No. SC622696
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Clyde Bakery Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Clyde Bakery Limited is a private company, limited by shares, registered in Scotland, registration number SC622696. The registered office is 20 FORTH STREET, GLASGOW, G41 2SS, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Clyde Bakery Limited Notes to the Accounts for the year ended 29 February 2024
Going concern
On 20 January 2023, the company had a fire at their trading premises which ceased production for a considerable period of time. Insurance payouts were received periodically during the period from April 2023 to October 2023. This material event has had a significant impact on the business, but the director believes through careful stewardship can remain a going concern. The position will be reviewed on a continual basis.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
205,078 
106,114 
6,041 
317,233 
Additions
5,905 
- 
37,026 
42,931 
At 29 February 2024
210,983 
106,114 
43,067 
360,164 
Depreciation
At 1 March 2023
81,835 
52,351 
3,028 
137,214 
Charge for the year
22,210 
20,826 
6,026 
49,062 
At 29 February 2024
104,045 
73,177 
9,054 
186,276 
Net book value
At 29 February 2024
106,938 
32,937 
34,013 
173,888 
At 28 February 2023
123,243 
53,763 
3,013 
180,019 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
28,561 
77,142 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 March 2023
129 
Valuation at 29 February 2024
129 
Clyde Bakery Limited owns 129 ordinary shares, or 100% of the issued share capital of Baker's House Limited
6
Inventories
2024 
2023 
£ 
£ 
Raw materials
500 
- 
Finished goods
1,000 
- 
1,500 
- 
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Clyde Bakery Limited Notes to the Accounts for the year ended 29 February 2024
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
25,754 
4,508 
Trade debtors
4,779 
29,291 
Accrued income and prepayments
12,635 
- 
Other debtors
77,143 
168,149 
120,311 
201,948 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,269 
1,269 
Obligations under finance leases and hire purchase contracts
9,995 
20,326 
Trade creditors
75,081 
65,168 
Taxes and social security
12,564 
11,886 
Other creditors
7,683 
61,646 
Loans from directors
160,515 
- 
Accruals
5,013 
- 
272,120 
160,295 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,587 
2,856 
Obligations under finance leases and hire purchase contracts
19,648 
26,337 
Loans from directors
- 
204,078 
21,235 
233,271 
10
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
5,040 
8,611 
2024 
2023 
£ 
£ 
Provision at start of year
8,611 
34,979 
Credited to the profit and loss account
(3,571)
(26,368)
Provision at end of year
5,040 
8,611 
11
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Clyde Bakery Limited Notes to the Accounts for the year ended 29 February 2024
12
Operating lease commitments
2024 
2023 
£ 
£ 
At 29 February 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
32,400 
31,000 
Later than one year and not later than five years
- 
31,000 
32,400 
62,000 
13
Transactions with related parties
Two shareholders obtained unlawful dividends which are to be repaid to the company. At the date of The Statement of Financial Position the amount due is £71,400. The two shareholders have been served notice to repay such monies.
14
Average number of employees
During the year the average number of employees was 17 (2023: 27).
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