Company registration number 04001827 (England and Wales)
APPLE PIE EATING HOUSE & BAKERY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
APPLE PIE EATING HOUSE & BAKERY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
APPLE PIE EATING HOUSE & BAKERY LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
308,128
242,503
Current assets
Stocks
65,750
42,952
Debtors
5
878,614
722,953
Cash at bank and in hand
406,955
836,905
1,351,319
1,602,810
Creditors: amounts falling due within one year
6
(276,066)
(264,843)
Net current assets
1,075,253
1,337,967
Total assets less current liabilities
1,383,381
1,580,470
Creditors: amounts falling due after more than one year
7
(1,439)
(2,479)
Provisions for liabilities
(63,294)
(43,907)
Net assets
1,318,648
1,534,084
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
1,318,548
1,533,984
Total equity
1,318,648
1,534,084
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
APPLE PIE EATING HOUSE & BAKERY LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 November 2024 and are signed on its behalf by:
Mr R Fielding
Mr S H Fielding
Director
Director
Miss K Fielding
Director
Company registration number 04001827 (England and Wales)
APPLE PIE EATING HOUSE & BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Apple Pie Eating House & Bakery Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Apple Pie Eating House, Rydal Road, Ambleside, LA22 9AN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a straight line basis over its expected life, which is 20 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
APPLE PIE EATING HOUSE & BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold property
15 years straight line / 10 years straight line
Computer equipment
20% straight line / 15 straight line
Fixtures, fittings, plant and equipment
15% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
APPLE PIE EATING HOUSE & BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
APPLE PIE EATING HOUSE & BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 6 -
1.12
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.13
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
57
48
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
134,600
Amortisation and impairment
At 1 May 2023 and 30 April 2024
134,600
Carrying amount
At 30 April 2024
At 30 April 2023
APPLE PIE EATING HOUSE & BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
4
Tangible fixed assets
Leasehold property
Computer equipment
Fixtures, fittings, plant and equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
540,198
15,451
372,394
22,891
950,934
Additions
2,190
132,956
135,146
Disposals
(51,490)
(51,490)
At 30 April 2024
540,198
17,641
453,860
22,891
1,034,590
Depreciation and impairment
At 1 May 2023
464,136
5,548
230,163
8,584
708,431
Depreciation charged in the year
15,710
2,647
40,165
3,577
62,099
Eliminated in respect of disposals
(44,068)
(44,068)
At 30 April 2024
479,846
8,195
226,260
12,161
726,462
Carrying amount
At 30 April 2024
60,352
9,446
227,600
10,730
308,128
At 30 April 2023
76,062
9,903
142,231
14,307
242,503
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,730
4,733
Amounts owed by group undertakings
843,942
674,711
Other debtors
1,904
10,312
Prepayments and accrued income
30,038
33,197
878,614
722,953
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
109,878
96,199
Taxation and social security
117,230
131,619
Other creditors
48,958
37,025
276,066
264,843
APPLE PIE EATING HOUSE & BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,439
2,479
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
43 'A' Ordinary of £1 each
43
43
42 'B' Ordinary of £1 each
42
42
5 'C' Ordinary of £1 each
5
5
5 'D' Ordinary of £1 each
5
5
5 'E' Ordinary of £1 each
5
5
100
100
All shares are ranked pari passu in all respects save that the directors may vote dividends on one class of share and not another.
9
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
134,610
45,000
Transactions with related parties
2024
Balance
Amounts owed by related parties
£
Entities with control, joint control or significant influence over the company
843,942
2023
Balance
Amounts owed in previous period
£
Entities with control, joint control or significant influence over the company
674,711
11
Parent company
APPLE PIE EATING HOUSE & BAKERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
11
Parent company
(Continued)
- 9 -
Apple Pie Eating House & Bakery Ltd is a wholly owned subsidiary of Fayrefield Limited, a company registered in the England and Wales.
2024-04-302023-05-01false19 November 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityD FieldingMrs J A FieldingR FieldingMr S H FieldingK FieldingMrs J A Fieldingfalsefalse2024-11-13040018272023-05-012024-04-30040018272024-04-30040018272023-04-3004001827core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-04-3004001827core:PlantMachinery2024-04-3004001827core:FurnitureFittings2024-04-3004001827core:MotorVehicles2024-04-3004001827core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-3004001827core:PlantMachinery2023-04-3004001827core:FurnitureFittings2023-04-3004001827core:MotorVehicles2023-04-3004001827core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3004001827core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3004001827core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3004001827core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3004001827core:CurrentFinancialInstruments2024-04-3004001827core:CurrentFinancialInstruments2023-04-3004001827core:ShareCapital2024-04-3004001827core:ShareCapital2023-04-3004001827core:RetainedEarningsAccumulatedLosses2024-04-3004001827core:RetainedEarningsAccumulatedLosses2023-04-3004001827core:ShareCapitalOrdinaryShares2024-04-3004001827core:ShareCapitalOrdinaryShares2023-04-3004001827bus:Director22023-05-012024-04-3004001827bus:Director32023-05-012024-04-3004001827bus:Director42023-05-012024-04-3004001827core:Goodwill2023-05-012024-04-3004001827core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-05-012024-04-3004001827core:PlantMachinery2023-05-012024-04-3004001827core:FurnitureFittings2023-05-012024-04-3004001827core:MotorVehicles2023-05-012024-04-30040018272022-05-012023-04-3004001827core:NetGoodwill2023-04-3004001827core:NetGoodwill2024-04-3004001827core:NetGoodwill2023-04-3004001827core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-3004001827core:PlantMachinery2023-04-3004001827core:FurnitureFittings2023-04-3004001827core:MotorVehicles2023-04-30040018272023-04-3004001827core:Non-currentFinancialInstruments2024-04-3004001827core:Non-currentFinancialInstruments2023-04-3004001827bus:OrdinaryShareClass22024-04-3004001827bus:OrdinaryShareClass32024-04-3004001827bus:OrdinaryShareClass42024-04-3004001827bus:OrdinaryShareClass52024-04-3004001827bus:OrdinaryShareClass22023-05-012024-04-3004001827bus:OrdinaryShareClass32023-05-012024-04-3004001827bus:OrdinaryShareClass42023-05-012024-04-3004001827bus:OrdinaryShareClass52023-05-012024-04-3004001827bus:PrivateLimitedCompanyLtd2023-05-012024-04-3004001827bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3004001827bus:FRS1022023-05-012024-04-3004001827bus:AuditExemptWithAccountantsReport2023-05-012024-04-3004001827bus:Director12023-05-012024-04-3004001827bus:Director52023-05-012024-04-3004001827bus:CompanySecretary12023-05-012024-04-3004001827bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP