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REGISTERED NUMBER: 12427293 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

M J Bakery Limited

M J Bakery Limited (Registered number: 12427293)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M J Bakery Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: N Payne
Mrs K M Payne





REGISTERED OFFICE: Unit 7 Swan Lane Business Park
Exning
Suffolk
CB8 7FN





REGISTERED NUMBER: 12427293 (England and Wales)





ACCOUNTANTS: Blue Sky
Chartered Accountants
The Old Dairy
Cadhay
Ottery St Mary
Devon
EX11 1QT

M J Bakery Limited (Registered number: 12427293)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,586 6,586
Tangible assets 5 52,470 67,533
58,056 74,119

CURRENT ASSETS
Stocks 7,500 7,500
Debtors 6 91,779 89,253
Cash at bank 30,235 34,667
129,514 131,420
CREDITORS
Amounts falling due within one year 7 113,985 120,493
NET CURRENT ASSETS 15,529 10,927
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,585

85,046

CREDITORS
Amounts falling due after more than one
year

8

(1,269

)

(30,182

)

PROVISIONS FOR LIABILITIES (11,654 ) (8,847 )
NET ASSETS 60,662 46,017

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 60,562 45,917
SHAREHOLDERS' FUNDS 60,662 46,017

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

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

The directors acknowledge their 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.

M J Bakery Limited (Registered number: 12427293)

Balance Sheet - continued
31 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 Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





N Payne - Director


M J Bakery Limited (Registered number: 12427293)

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

1. Statutory information

M J Bakery 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. Accounting policies

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


M J Bakery Limited (Registered number: 12427293)

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

2. Accounting policies - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Covid 19
The director has considered the impact of COVID-19 and does not consider it to have a material impact on the balances included within the financial statements. In addition, the director does not consider it to cast any significant doubt upon the company's ability to continue successfully in the future.

The director has taken both reactive and proactive measures in order to mitigate any risks associated with COVID-19, including managing cash flow to ensure that debts can be paid when they fall due, managing staffing levels and monitoring key customer and supplier activity.

The director has implemented a robust system of procedures and controls in order to deal with any associated risks.

3. Employees and directors

The average number of employees during the year was 8 (2023 - 10 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2023
and 31 May 2024 10,000
Amortisation
At 1 June 2023 3,414
Charge for year 1,000
At 31 May 2024 4,414
Net book value
At 31 May 2024 5,586
At 31 May 2023 6,586

M J Bakery Limited (Registered number: 12427293)

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

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 June 2023 86,941 1,947 26,542 1,325 116,755
Additions 1,099 - - - 1,099
At 31 May 2024 88,040 1,947 26,542 1,325 117,854
Depreciation
At 1 June 2023 29,218 1,153 17,744 1,107 49,222
Charge for year 10,246 390 5,308 218 16,162
At 31 May 2024 39,464 1,543 23,052 1,325 65,384
Net book value
At 31 May 2024 48,576 404 3,490 - 52,470
At 31 May 2023 57,723 794 8,798 218 67,533

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 85,673 85,748
Other debtors 6,106 3,505
91,779 89,253

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,793 10,391
Trade creditors 28,434 19,507
Taxation and social security 23,474 25,022
Other creditors 44,284 55,573
113,985 120,493

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 1,269 22,389
Hire purchase contracts - 7,793
1,269 30,182