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Registered number: 11909578
Little Valley Bakery Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
RKC Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11909578
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 58,420 80,898
58,420 80,898
CURRENT ASSETS
Stocks 5 3,000 3,000
Debtors 6 16,582 9,415
Cash at bank and in hand 8,356 12,232
27,938 24,647
Creditors: Amounts Falling Due Within One Year 7 (83,881 ) (106,862 )
NET CURRENT ASSETS (LIABILITIES) (55,943 ) (82,215 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,477 (1,317 )
Creditors: Amounts Falling Due After More Than One Year 8 (32,982 ) (41,972 )
NET LIABILITIES (30,505 ) (43,289 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (30,507 ) (43,291 )
SHAREHOLDERS' FUNDS (30,505) (43,289)
Page 1
Page 2
For the year ending 31 March 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 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 Alec Merriman
Director
27/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Little Valley Bakery Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11909578 . The registered office is 219 Middle Road, Cwmdu, Swansea, SA5 8EY.
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. 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 20%
Plant & Machinery 15%
Motor Vehicles 25%
Fixtures & Fittings 20%
Computer Equipment 33%
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 18)
23 18
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2023 37,471 90,624 128,095
Additions - 1,607 1,607
As at 31 March 2024 37,471 92,231 129,702
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 14,990 32,207 47,197
Provided during the period 7,494 16,591 24,085
As at 31 March 2024 22,484 48,798 71,282
Net Book Value
As at 31 March 2024 14,987 43,433 58,420
As at 1 April 2023 22,481 58,417 80,898
5. Stocks
2024 2023
£ £
Stock 3,000 3,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,339 4,439
Other debtors 2,003 4,976
VAT 4,240 -
16,582 9,415
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,412 7,992
Bank loans and overdrafts 8,990 8,376
Other taxes and social security 16,407 9,320
Other creditors 9,432 9,714
Accruals and deferred income 6,088 1,266
Directors' loan accounts 35,552 70,194
83,881 106,862
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 32,982 41,972
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4