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REGISTERED NUMBER: 11527796 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Studio Bakery Limited

Studio Bakery Limited (Registered number: 11527796)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Studio Bakery Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs L Metcalf
Mrs A Metcalf





REGISTERED OFFICE: The Cow Shed Gisburn Road
Bolton By Bowland
Clitheroe
United Kingdom
BB7 4LT





REGISTERED NUMBER: 11527796 (England and Wales)





ACCOUNTANTS: Flourish Finance Limited
A6, Arundel House
Ackhurst Business Park
Foxhole Road
Chorley
Lancashire
PR7 1NY

Studio Bakery Limited (Registered number: 11527796)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,160
Tangible assets 5 632,374 339,057
632,374 340,217

CURRENT ASSETS
Stocks 338,451 278,037
Debtors 6 155,111 193,666
Cash in hand 90,007 69,654
583,569 541,357
CREDITORS
Amounts falling due within one year 7 249,706 210,367
NET CURRENT ASSETS 333,863 330,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

966,237

671,207

CREDITORS
Amounts falling due after more than
one year

8

(244,907

)

(170,717

)

PROVISIONS FOR LIABILITIES (98,993 ) (44,350 )
NET ASSETS 622,337 456,140

Studio Bakery Limited (Registered number: 11527796)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 622,235 456,038
622,337 456,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





Mrs L Metcalf - Director


Studio Bakery Limited (Registered number: 11527796)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Studio Bakery Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life:
- Bakery equipment - 25% reducing balance
- Computer equipment - 33% straight line
- Machinery and equipment - 25% reducing balance
- Motor Vehicles - 25% reducing balance.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Studio Bakery Limited (Registered number: 11527796)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 11,600
AMORTISATION
At 1 June 2023 10,440
Charge for year 1,160
At 31 May 2024 11,600
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 1,160

Studio Bakery Limited (Registered number: 11527796)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 80,882 376,729 457,611
Additions 36,421 377,421 413,842
Disposals - (24,350 ) (24,350 )
At 31 May 2024 117,303 729,800 847,103
DEPRECIATION
At 1 June 2023 - 118,554 118,554
Charge for year 14,232 101,531 115,763
Eliminated on disposal - (19,588 ) (19,588 )
At 31 May 2024 14,232 200,497 214,729
NET BOOK VALUE
At 31 May 2024 103,071 529,303 632,374
At 31 May 2023 80,882 258,175 339,057

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 135,111 169,311
Other debtors 20,000 24,355
155,111 193,666

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 26,072 24,525
Trade creditors 95,362 60,340
Taxation and social security 17,465 22,091
Other creditors 110,807 103,411
249,706 210,367

Studio Bakery Limited (Registered number: 11527796)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 57,753 83,701
Other creditors 187,154 87,016
244,907 170,717