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Registered number: 09325278
Doughlicious Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
CORNEL Accountants Limited
129 Station Road
Amersham
Buckinghamshire
HP7 0AH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09325278
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 138,497 -
Tangible Assets 5 1,025,656 979,121
1,164,153 979,121
CURRENT ASSETS
Stocks 6 1,086,962 722,758
Debtors 7 1,332,375 728,621
Investments 8 8,886 -
Cash at bank and in hand 296,850 415,205
2,725,073 1,866,584
Creditors: Amounts Falling Due Within One Year 9 (919,234 ) (764,350 )
NET CURRENT ASSETS (LIABILITIES) 1,805,839 1,102,234
TOTAL ASSETS LESS CURRENT LIABILITIES 2,969,992 2,081,355
Creditors: Amounts Falling Due After More Than One Year 10 (30,615 ) (50,798 )
NET ASSETS 2,939,377 2,030,557
CAPITAL AND RESERVES
Called up share capital 11 223 210
Share premium account 5,635,673 3,898,476
Other reserves 12,832 9,458
Profit and Loss Account (2,709,351 ) (1,877,587 )
SHAREHOLDERS' FUNDS 2,939,377 2,030,557
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For the year ending 30 November 2023 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 Profit and Loss Account.
On behalf of the board
Mr Daniel Bricken
Director
25th November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Doughlicious Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09325278 . The registered office is Unit 3, Heron Trading Estate, Alliance Road, London, W3 0RA.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are amortised to the profit and loss account over its estimated economic life of 10 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 4 Years or 5 Years (Effective life)
Plant & Machinery 25% Reducing balance
Fixtures & Fittings 20% Straight line
Computer Equipment 33% Straight line
Leasehold improvements are depreciated per the lease length of the contract signed.
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.
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2.7. 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 year 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 asset reflects 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.
2.8. Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.

When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
All Employees 44 32
44 32
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 December 2022 -
Additions 141,101
As at 30 November 2023 141,101
...CONTINUED
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Page 5
Amortisation
As at 1 December 2022 -
Provided during the period 2,604
As at 30 November 2023 2,604
Net Book Value
As at 30 November 2023 138,497
As at 1 December 2022 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 488,207 956,661 9,136 27,691 1,481,695
Additions 60,375 277,121 2,173 6,747 346,416
As at 30 November 2023 548,582 1,233,782 11,309 34,438 1,828,111
Depreciation
As at 1 December 2022 164,410 322,001 761 15,402 502,574
Provided during the period 104,573 184,457 2,135 8,716 299,881
As at 30 November 2023 268,983 506,458 2,896 24,118 802,455
Net Book Value
As at 30 November 2023 279,599 727,324 8,413 10,320 1,025,656
As at 1 December 2022 323,797 634,660 8,375 12,289 979,121
6. Stocks
2023 2022
£ £
Stock 440,508 355,994
Finished goods 646,454 366,764
1,086,962 722,758
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 604,772 624,468
Prepayments and accrued income 74,579 38,075
Other debtors 157,028 66,078
Corporation tax recoverable assets 56,555 -
VAT 174,764 -
Net wages 42 -
Amounts owed by subsidiaries 264,635 -
1,332,375 728,621
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Included in other debtors is an amount of £107,028 (2022 : £66,078) in respect of warehouse lease deposits and £50,000 (2022 : £nil) in respect of a foreign currency transaction held on account, awaiting repayment at the balance sheet date.
8. Current Asset Investments
2023 2022
£ £
Shares in subsidiaries 8,886 -
8,886 -
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 852,226 699,417
Bank loans and overdrafts 26,229 26,229
Other taxes and social security 40,285 29,784
VAT - 8,920
Other creditors 494 -
919,234 764,350
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 30,615 50,798
30,615 50,798
11. Share Capital
2023 2022
Allotted, called up and fully paid £ £
22,253 Ordinary Shares of £ 0.01 each 223 210
Shares issued during the period: £
1,300 Ordinary Shares of £ 0.01 each 13
During the year 1,300 ordinary £0.01 shares (2022 : 574) were allotted and fully paid for cash consideration to provide additional working capital. Amounts received as consideration in excess of the nominal value are taken to the share premium account. 
12. Related Party Transactions
During the year, the company made direct sales of £96,440 (2022 : £NIL) and management fees of £55,575 (2022 : £NIL) to a subsidiary company in he U.S.A. of which £NIL was owed to the company at the year end. The company also has accrued royalty fee income of £8,603 (2022 : NIL) and £6,889 accrued interest income (2022 : £NIL) to the subsidiary company in the U.S.A. at the year end. Included in Debtors, is a loan balance of £264,449 (2022 : £nil) owed from the subsidiary company in the U.S.A and £186 (2022 : £NIL) from a subsidiary company in France.
13. Share-based payment transactions
The company operates a share option scheme for the benefit of its employees. Certain employees of the company have been granted options over the ordinary shares in the company. The options are granted with a fixed exercise price, are subject to vesting conditions and are subject to and in accordance with the rules of the company share option plans.
As the company is unable to directly measure the fair value of employee services received, it considers the use of a pricing model such as the Black Scholes Model as being appropriate to determine the fair value of the share options at grant date.
During the period, the company recognised total share based payment expenses of £3,374 (2022 : £5,181) which related to equity-settled share based payment transactions. 
...CONTINUED
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Outstanding number of share options at 1 December 2022 - 635
Number of share options granted in the period to 30 November 2023 - NIL
Number of share options lapsed in the period to 30 November 2023 - NIL
Number of share options exercised in the period to 30 November 2023 - NIL
Outstanding number of share options at 30 November 2023 - 635
Of which were exercisable at 30 November 2023 - NIL
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