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Company registration number: 10106980
Becws Mon Bakery Ltd
Unaudited filleted financial statements
31 December 2024
Becws Mon Bakery Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Becws Mon Bakery Ltd
Directors and other information
Director Mr R H Lewis
Company number 10106980
Registered office Unit 13
Gaerwen Industrial Estate
Gaerwen
Ynys Mon
LL60 6HR
Business address Unit 13
Gaerwen Industrial Estate
Gaerwen
Ynys Mon
LL60 6HR
Accountants Parker O'Regan Tann & Co
Bangor Business Centre
2 Farrar Road
Bangor
Gwynedd
LL57 1LJ
Becws Mon Bakery Ltd
Chartered Certified accountants report to the director on the preparation of the
unaudited statutory financial statements of Becws Mon Bakery Ltd
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Becws Mon Bakery Ltd for the year ended 31 December 2024 as set out on pages to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com.
This report is made solely to the director of Becws Mon Bakery 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 financial statements of Becws Mon Bakery Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Becws Mon Bakery Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Becws Mon Bakery Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Becws Mon Bakery Ltd. You consider that Becws Mon Bakery 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 financial statements of Becws Mon Bakery 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 financial statements.
Parker O'Regan Tann & Co
Chartered Certified Accountants
Bangor Business Centre
2 Farrar Road
Bangor
Gwynedd
LL57 1LJ
19 February 2025
Becws Mon Bakery Ltd
Statement of financial position
31 December 2024
31/12/24 31/12/23
Note £ £ £ £
Fixed assets
Intangible assets - -
Tangible assets 5 297,521 232,094
_______ _______
297,521 232,094
Current assets
Stocks 61,000 47,000
Debtors 6 204,586 156,680
Cash at bank and in hand 6,627 7,109
_______ _______
272,213 210,789
Creditors: amounts falling due
within one year 7 ( 415,793) ( 359,990)
_______ _______
Net current liabilities ( 143,580) ( 149,201)
_______ _______
Total assets less current liabilities 153,941 82,893
Creditors: amounts falling due
after more than one year 8 ( 51,811) ( 23,405)
Provisions for liabilities ( 32,859) ( 16,280)
_______ _______
Net assets 69,271 43,208
_______ _______
Capital and reserves
Called up share capital 20 20
Profit and loss account 69,251 43,188
_______ _______
Shareholder funds 69,271 43,208
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 February 2025 , and are signed on behalf of the board by:
Mr R H Lewis
Director
Company registration number: 10106980
Becws Mon Bakery Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 13, Gaerwen Industrial Estate, Gaerwen, Ynys Mon, LL60 6HR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entitiy.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Government grants are recognised using the accrual model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 49 (2023: 43 ).
5. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2024 5,411 232,798 40,771 37,893 316,873
Additions - 40,479 13,168 50,325 103,972
Disposals - - - ( 9,145) ( 9,145)
_______ _______ _______ _______ _______
At 31 December 2024 5,411 273,277 53,939 79,073 411,700
_______ _______ _______ _______ _______
Depreciation
At 1 January 2024 - 64,149 7,278 13,352 84,779
Charge for the year - 20,913 4,666 6,878 32,457
Disposals - - - ( 3,057) ( 3,057)
_______ _______ _______ _______ _______
At 31 December 2024 - 85,062 11,944 17,173 114,179
_______ _______ _______ _______ _______
Carrying amount
At 31 December 2024 5,411 188,215 41,995 61,900 297,521
_______ _______ _______ _______ _______
At 31 December 2023 5,411 168,649 33,493 24,541 232,094
_______ _______ _______ _______ _______
6. Debtors
31/12/24 31/12/23
£ £
Trade debtors 147,364 116,549
Other debtors 57,222 40,131
_______ _______
204,586 156,680
_______ _______
7. Creditors: amounts falling due within one year
31/12/24 31/12/23
£ £
Bank loans and overdrafts 21,192 15,348
Trade creditors 134,878 110,732
Social security and other taxes 120,115 142,991
Other creditors 139,608 90,919
_______ _______
415,793 359,990
_______ _______
Bank loans and overdrafts are secured on the assets of the company.
8. Creditors: amounts falling due after more than one year
31/12/24 31/12/23
£ £
Bank loans and overdrafts 9,752 23,405
Other creditors 42,059 -
_______ _______
51,811 23,405
_______ _______
Bank loans and overdrafts are secured on the assets of the company.
9. Other financial commitments
At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £2,400 (2023 - NIL).