IRIS Accounts Production v24.3.2.46 01365137 director 1.6.23 31.5.24 31.5.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh013651372023-05-31013651372024-05-31013651372023-06-012024-05-31013651372022-05-31013651372022-06-012023-05-31013651372023-05-3101365137ns15:EnglandWales2023-06-012024-05-3101365137ns14:PoundSterling2023-06-012024-05-3101365137ns10:Director12023-06-012024-05-3101365137ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3101365137ns10:SmallEntities2023-06-012024-05-3101365137ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3101365137ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3101365137ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3101365137ns10:FullAccounts2023-06-012024-05-3101365137ns10:CompanySecretary12023-06-012024-05-3101365137ns10:RegisteredOffice2023-06-012024-05-3101365137ns5:CurrentFinancialInstruments2024-05-3101365137ns5:CurrentFinancialInstruments2023-05-3101365137ns5:Non-currentFinancialInstruments2024-05-3101365137ns5:Non-currentFinancialInstruments2023-05-3101365137ns5:ShareCapital2024-05-3101365137ns5:ShareCapital2023-05-3101365137ns5:FurtherSpecificReserve3ComponentTotalEquity2024-05-3101365137ns5:FurtherSpecificReserve3ComponentTotalEquity2023-05-3101365137ns5:RetainedEarningsAccumulatedLosses2024-05-3101365137ns5:RetainedEarningsAccumulatedLosses2023-05-3101365137ns5:FurnitureFittings2023-05-3101365137ns5:ComputerEquipment2023-05-3101365137ns5:FurnitureFittings2023-06-012024-05-3101365137ns5:ComputerEquipment2023-06-012024-05-3101365137ns5:FurnitureFittings2024-05-3101365137ns5:ComputerEquipment2024-05-3101365137ns5:FurnitureFittings2023-05-3101365137ns5:ComputerEquipment2023-05-3101365137ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3101365137ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3101365137ns5:FurtherSpecificReserve3ComponentTotalEquity2023-05-31
REGISTERED NUMBER: 01365137 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st May 2024

for

Bakers of Maybury Limited

Bakers of Maybury Limited (Registered number: 01365137)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bakers of Maybury Limited

Company Information
for the Year Ended 31st May 2024







DIRECTOR: A Mackay





SECRETARY: A Mackay





REGISTERED OFFICE: Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT





REGISTERED NUMBER: 01365137 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Bakers of Maybury Limited (Registered number: 01365137)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 877 1,168
Investment property 6 659,125 659,125
660,002 660,293

CURRENT ASSETS
Debtors 7 3,911 3,307
Cash at bank 116,382 82,639
120,293 85,946
CREDITORS
Amounts falling due within one year 8 112,689 32,570
NET CURRENT ASSETS 7,604 53,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

667,606

713,669

CREDITORS
Amounts falling due after more than one
year

9

(36,773

)

(117,924

)

PROVISIONS FOR LIABILITIES (81,696 ) (81,769 )
NET ASSETS 549,137 513,976

CAPITAL AND RESERVES
Called up share capital 22,800 22,800
Fair value reserve 10 363,082 363,082
Retained earnings 163,255 128,094
SHAREHOLDERS' FUNDS 549,137 513,976

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

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

The director acknowledges his 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.

Bakers of Maybury Limited (Registered number: 01365137)

Balance Sheet - continued
31st May 2024


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 director and authorised for issue on 27th January 2025 and were signed by:





A Mackay - Director


Bakers of Maybury Limited (Registered number: 01365137)

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


1. STATUTORY INFORMATION

Bakers of Maybury 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost of revaluation reserve of an asset, less its estimated residual value, over the useful economic life of the asset as follows:

Fixture and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Bakers of Maybury Limited (Registered number: 01365137)

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


3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

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.

Bakers of Maybury Limited (Registered number: 01365137)

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


3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st June 2023
and 31st May 2024 1,200 3,074 4,274
DEPRECIATION
At 1st June 2023 987 2,119 3,106
Charge for year 53 238 291
At 31st May 2024 1,040 2,357 3,397
NET BOOK VALUE
At 31st May 2024 160 717 877
At 31st May 2023 213 955 1,168

Bakers of Maybury Limited (Registered number: 01365137)

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


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023
and 31st May 2024 659,125
NET BOOK VALUE
At 31st May 2024 659,125
At 31st May 2023 659,125

Fair value at 31st May 2024 is represented by:
£   
Valuation in 2023 444,559
Cost 214,566
659,125

If investment property had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 214,566 214,566

Investment property was valued on an open market basis on 31st May 2024 by the director A Mackay .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,911 3,307

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 8,506 6,450
Other creditors 104,183 26,120
112,689 32,570

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 36,773 117,924

Bakers of Maybury Limited (Registered number: 01365137)

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


10. RESERVES
Fair
value
reserve
£   
At 1st June 2023
and 31st May 2024 363,082