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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
Page
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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
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It’s Bagels Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
15,801 
17,428 
Tangible assets
291,997 
- 
307,798 
17,428 
Current assets
Inventories
11,783 
- 
Debtors
271,294 
45,237 
Cash at bank and in hand
189,645 
72,187 
472,722 
117,424 
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)
- 
Net assets
77,510 
169,469 
Capital and reserves
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
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It’s Bagels Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
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.
Going concern
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.
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It’s Bagels Limited Notes to the Accounts for the year ended 31 May 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 June 2023
17,428 
At 31 May 2024
17,428 
Amortisation
At 1 June 2023
- 
Charge for the year
1,627 
At 31 May 2024
1,627 
Net book value
At 31 May 2024
15,801 
At 31 May 2023
17,428 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2023
- 
- 
- 
- 
- 
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 
Depreciation
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 
Net book value
At 31 May 2024
11,056 
102,538 
171,309 
7,094 
291,997 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
53,176 
- 
Amounts due from group undertakings etc.
164,516 
- 
Accrued income and prepayments
21,102 
12,737 
238,794 
12,737 
Amounts falling due after more than one year
Other debtors
32,500 
32,500 
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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 
£ 
£ 
VAT
2,517 
- 
Trade creditors
(121,597)
(41,272)
Taxes and social security
45,116 
- 
Other creditors
14,919 
- 
Loans from directors
(6,166)
5,155 
Accruals
14,090 
1,500 
(51,121)
(34,617)
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
754,131 
- 
9
Share capital
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).
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