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Registered Number: SC692819
Scotland

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

FULL CIRCLE BAKES LTD

Directors Jacquelyn Stabler
Peter Stabler
Registered Number SC692819
Registered Office 276 Cumbernauld Road
Glasgow
Lanarkshire
G31 2UL
1
Director's report and financial statements
The directors present his/her/their report and accounts for the year ended 31 March 2024.
Directors
The directors who served the company throughout the year were as follows:
Jacquelyn Stabler
Statement of directors' responsibilities
The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
  • select suitable accounting policies and then apply them consistently
  • make judgements and estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board and signed on its behalf by:


----------------------------------
Peter Stabler
Director

Date approved: 21 January 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Full Circle Bakes Ltd for the year ended 31 March 2024


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Full Circle Bakes Ltd for the year ended 31 March 2024 as set out on pages Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Full Circle Bakes Ltd , as a body, in accordance with the terms of our engagement letter.

Our work has been undertaken solely to prepare for your approval the accounts of Full Circle Bakes Ltd and state those matters that we have agreed to state to the Board of Directors of Full Circle Bakes Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Full Circle Bakes Ltd and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Full Circle Bakes Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Full Circle Bakes Ltd.

You consider that Full Circle Bakes Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Full Circle Bakes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts as at 31 March 2024.



....................................................
FBD Consultancy Accounts & Tax Ltd.
2 Glasgow Road
Dennyloanhead
Stirlingshire
FK4 1QF
21 January 2025
3
  2024   2023
    £ £   £ £
Fixed assets   28,819      19,459 
Current assets 3,033      11,261   
Prepayments and accrued income 7,500      6,000   
Creditors: amount falling due within one year (272,705)     (58,507)  
Net current assets   (262,172)     (41,246)
Total assets less current liabilities   (233,353)     (21,787)
Creditors: amount falling due after more than one year   (3,058)     (6,816)
Net assets   (236,411)     (28,603)
 

         
Capital and reserves   (236,411)     (28,603)
 
NOTES TO THE ACCOUNTS

General Information
Full Circle Bakes Ltd is a private company, limited by shares, registered in Scotland, registration number SC692819, registration address 276 Cumbernauld Road, Glasgow, Lanarkshire, G31 2UL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on the assumption that the company is no longer a going concern. As a result of ongoing losses, the company temporarily ceased trading on 8 December 2024. The director is currently evaluating the company's options, including the potential for restructuring and possible liquidation.


The director has assessed that the company is no longer able to meet its obligations as they fall due, and no plans exist for the continuation of trade in the current structure. However, the director is hopeful that a portion of the business can be saved, and trade recommenced on a renewed basis.

As a result, the financial statements have been prepared on a basis other than going concern.


This alternative basis reflects the anticipated realisable value of the company's assets and the estimated settlement of liabilities, taking into account the cessation of trading and the directors plans for the company.

The director acknowledges the material uncertainty surrounding the final outcome of these deliberations, but believes that the basis of preparation adopted is appropriate in the circumstances.




2.

Average number of employees

Average number of employees during the year was 18 (2023 : 8).


For the year ended 31 March 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 accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 21 January 2025 and were signed on its behalf by:


--------------------------------
Peter Stabler
Director
4