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Registration number: SC696377

Mor Bakehouse Limited

trading as Mor Bakery

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Mor Bakehouse Limited

trading as Mor Bakery

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Mor Bakehouse Limited

trading as Mor Bakery

Company Information

Directors

Mr D A Christophers

Mr J S Maclellan

Mr T J Symons

Registered office

Carncroft
Pitlochry
Perth and Kinross
PH16 5JL

Accountants

D.J. Reynolds & Co.
15 Alverton Street
Penzance
Cornwall
TR18 2QP

 

Mor Bakehouse Limited

trading as Mor Bakery

(Registration number: SC696377)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

717,085

311,212

Current assets

 

Stocks

5

30,000

20,000

Debtors

6

167,843

63,490

Cash at bank and in hand

 

119,318

150,556

 

317,161

234,046

Creditors: Amounts falling due within one year

7

(1,228,668)

(696,684)

Net current liabilities

 

(911,507)

(462,638)

Net liabilities

 

(194,422)

(151,426)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(194,522)

(151,526)

Shareholders' deficit

 

(194,422)

(151,426)

For the financial year ending 30 April 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; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mr J S Maclellan
Director

 

Mor Bakehouse Limited

trading as Mor Bakery

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Carncroft
Pitlochry
Perth and Kinross
PH16 5JL
Scotland

These financial statements were authorised for issue by the Board on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

In the opinion of the Directors, the company can continue to operate on a going concern basis. This is due to two of the shareholders, Symons Retail Limited and St Ives Restaurants Limited, agreeing to support the company for at least the next 12 months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Mor Bakehouse Limited

trading as Mor Bakery

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Machinery and equipment

12.5% Reducing balance

Office equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Mor Bakehouse Limited

trading as Mor Bakery

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 67 (2023 - 21).

 

Mor Bakehouse Limited

trading as Mor Bakery

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

181,455

898

-

168,262

350,615

Additions

308,366

249

28,995

161,503

499,113

At 30 April 2024

489,821

1,147

28,995

329,765

849,728

Depreciation

At 1 May 2023

18,145

225

-

21,033

39,403

Charge for the year

47,168

231

7,249

38,592

93,240

At 30 April 2024

65,313

456

7,249

59,625

132,643

Carrying amount

At 30 April 2024

424,508

691

21,746

270,140

717,085

At 30 April 2023

163,310

673

-

147,229

311,212

Included within the net book value of land and buildings above is £424,508 (2023 - £163,310) in respect of short leasehold land and buildings.
 

 

Mor Bakehouse Limited

trading as Mor Bakery

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Stocks

2024
£

2023
£

Other inventories

30,000

20,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

18,321

-

Prepayments

121,768

51,628

Other debtors

27,754

11,862

 

167,843

63,490

 

Mor Bakehouse Limited

trading as Mor Bakery

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

7,274

-

Trade creditors

 

350,544

156,445

Taxation and social security

 

7,685

4,560

Accruals and deferred income

 

12,005

8,642

Other creditors

 

851,160

527,037

 

1,228,668

696,684

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

7,274

-

10

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Funds introduced by director
£

At 30 April 2024
£

Mr J S Maclellan

Interest free loan from the director, repayable on demand

1,401

(2,490)

325,243

324,154

         
       

 

 

Mor Bakehouse Limited

trading as Mor Bakery

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

At 1 May 2022
£

Funds introduced by director
£

At 30 April 2023
£

Mr J S Maclellan

Interest free loan from the director, repayable on demand

-

1,401

1,401

       
     

 

Loans from related parties

2024

Associates
£

Total
£

At start of period

524,950

524,950

At end of period

524,950

524,950

2023

Associates
£

Total
£

At start of period

19,925

19,925

Advanced

505,025

505,025

At end of period

524,950

524,950

Terms of loans from related parties

Interest-free loans from Symons Retail Limited and St Ives Restaurants Limited, repayable on demand.