Registered number
09560259
CAPITAL BREAD LTD
Filleted Accounts
30 June 2024
CAPITAL BREAD LTD
Registered number: 09560259
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 275,830 299,337
Current assets
Stocks 15,358 19,310
Debtors 4 389,098 317,647
Cash at bank and in hand 315,051 346,476
719,507 683,433
Creditors: amounts falling due within one year 5 (612,275) (401,643)
Net current assets 107,232 281,790
Total assets less current liabilities 383,062 581,127
Creditors: amounts falling due after more than one year 6 (61,248) (132,233)
Net assets 321,814 448,894
Capital and reserves
Called up share capital 310 310
Share premium 114,133 114,133
Profit and loss account 207,371 334,451
Shareholders' funds 321,814 448,894
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Francois Bonnefoy
Director
Approved by the board on 7 March 2025
CAPITAL BREAD LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor Vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 31 28
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 375,169 199,015 574,184
Additions 72,254 56,301 128,555
Disposals (42,381) (55,366) (97,747)
At 30 June 2024 405,042 199,950 604,992
Depreciation
At 1 July 2023 202,450 72,397 274,847
Charge for the year 67,995 58,584 126,579
On disposals (21,743) (50,521) (72,264)
At 30 June 2024 248,702 80,460 329,162
Net book value
At 30 June 2024 156,340 119,490 275,830
At 30 June 2023 172,719 126,618 299,337
4 Debtors 2024 2023
£ £
Trade debtors 266,086 239,364
Amounts owed by group undertakings and undertakings in which the company has a participating interest 10,000 500
VAT Debtors 13,841 9,762
Rent Deposits 28,735 28,735
Prepayments 69,642 39,286
Cycle to Work Scheme 794 -
389,098 317,647
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,231 24,369
Obligations under finance lease and hire purchase contracts 30,963 15,250
Trade creditors 49,098 57,933
Taxation and social security costs 185,183 149,742
Director's Loan Account 768 134
Net Wages 51,992 43,824
Pension Payable 3,431 3,185
Accruals 108,109 107,206
Other creditors 162,500 -
612,275 401,643
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,230 58,736
Obligations under finance lease and hire purchase contracts 31,018 73,497
61,248 132,233
Related party transactions
During the year the company incurred consultancy fees amounting to £168,000 which were charged at an arms length by Companies which are under common ownership.
7 Other information
CAPITAL BREAD LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 47 Metropolitan Park,
Norwich Road,
Greenford
UB6 8UP
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