Company Registration No. 14140235 (England and Wales)
It’s Bagels Limited
Unaudited accounts
for the year ended 31 May 2024
It’s Bagels Limited
Unaudited accounts
Contents
It’s Bagels Limited
Company Information
for the year ended 31 May 2024
Director
Daniel Samuel Martensen
Company Number
14140235 (England and Wales)
Registered Office
C/O Viewpoint Partners Limited
Suite 3.06 Canterbury Court
Kennington Park, 1-3 Brixton Road
London
Greater London
SW9 6DE
United Kingdom
It’s Bagels Limited
Statement of financial position
as at 31 May 2024
Intangible assets
15,801
17,428
Cash at bank and in hand
189,645
72,187
Creditors: amounts falling due within one year
51,121
34,617
Net current assets
523,843
152,041
Total assets less current liabilities
831,641
169,469
Creditors: amounts falling due after more than one year
(754,131)
-
Called up share capital
154
100
Share premium
206,902
206,901
Profit and loss account
(129,546)
(37,532)
Shareholders' funds
77,510
169,469
For the year ending 31 May 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 February 2025 and were signed on its behalf by
Daniel Samuel Martensen
Director
Company Registration No. 14140235
It’s Bagels Limited
Notes to the Accounts
for the year ended 31 May 2024
It’s Bagels Limited is a private company, limited by shares, registered in England and Wales, registration number 14140235. The registered office is C/O Viewpoint Partners Limited, Suite 3.06 Canterbury Court, Kennington Park, 1-3 Brixton Road, London, Greater London, SW9 6DE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The purchase of a leasehold is amortised using the straight line method over 10 years.
The accounts have been prepared on a going concern basis which assumes that the Company will continue to trade. The directors are confident that the Company will become profitable in the foreseeable future and undertake to continue to support the Company until such time.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
is depreciated using the straight line method over 10 years.
Plant & machinery
is depreciated using the straight line method over 10 years.
Fixtures & fittings
is depreciated using the straight line method over 10 years.
Computer equipment
is depreciated using the straight line method over 5 years.
It’s Bagels Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Intangible fixed assets
Other
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
Additions
11,977
110,504
185,474
8,128
316,083
At 31 May 2024
11,977
110,504
185,474
8,128
316,083
Charge for the year
921
7,966
14,165
1,034
24,086
At 31 May 2024
921
7,966
14,165
1,034
24,086
At 31 May 2024
11,056
102,538
171,309
7,094
291,997
Amounts falling due within one year
Amounts due from group undertakings etc.
164,516
-
Accrued income and prepayments
21,102
12,737
Amounts falling due after more than one year
Other debtors
32,500
32,500
It’s Bagels Limited
Notes to the Accounts
for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
(121,597)
(41,272)
Taxes and social security
45,116
-
Loans from directors
(6,166)
5,155
8
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
153,846 Ordinary shares of £0.001 each
153.84
0.10
Shares issued during the period:
153,746 Ordinary shares of £0.001 each
153.74
10
Transactions with related parties
At the balance sheet date, the Company was owed £25,815 by It's Bagels Holdings Limited.
At the balance sheet date, the Company was owed £109,342 by It's Bagels Soho Limited.
At the balance sheet date, the Company was owed £29,369 by It's Bagels Productions Limited.
All balances are interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 15 (2023: 0).