Registered number
08616007
Wong Wong Bakery Limited
Filleted Accounts
30 June 2024
Wong Wong Bakery Limited
Registered number: 08616007
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 261,020 206,640
Current assets
Stocks 4,000 4,000
Debtors 5 35,904 43,167
Cash at bank and in hand 230,387 116,559
270,291 163,726
Creditors: amounts falling due within one year 6 (192,028) (73,944)
Net current assets 78,263 89,782
Total assets less current liabilities 339,283 296,422
Creditors: amounts falling due after more than one year 7 (35,469) (49,071)
Provisions for liabilities (9,601) (19,996)
Net assets 294,213 227,355
Capital and reserves
Called up share capital 100 100
Profit and loss account 294,113 227,255
Shareholders' funds 294,213 227,355
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.
Wah Sang Chan
Director
Approved by the board on 20 March 2025
Wong Wong Bakery Limited
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets at rates calculated as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 10 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
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 22 22
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 5,000
At 30 June 2024 5,000
Amortisation
At 1 July 2023 5,000
At 30 June 2024 5,000
Net book value
At 30 June 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Fixture and fittings Total
£ £ £ £
Cost
At 1 July 2023 38,205 226,844 130,405 395,454
Additions - 88,080 30,900 118,980
Disposals - (11,518) - (11,518)
At 30 June 2024 38,205 303,406 161,305 502,916
Depreciation
At 1 July 2023 - 159,267 29,547 188,814
Charge for the year - 45,472 14,883 60,355
On disposals - (7,273) - (7,273)
At 30 June 2024 - 197,466 44,430 241,896
Net book value
At 30 June 2024 38,205 105,940 116,875 261,020
At 30 June 2023 38,205 67,577 100,858 206,640
5 Debtors 2024 2023
£ £
Trade debtors 30,000 33,741
Other debtors 5,904 9,426
35,904 43,167
Amounts due after more than one year included above 30,000 30,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,028 4,587
Trade creditors 200,503 81,119
Taxation and social security costs (10,503) (11,762)
192,028 73,944
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,667 31,667
Obligations under finance lease and hire purchase contracts - 3,811
Other creditors 13,802 13,593
35,469 49,071
8 Other information
Wong Wong Bakery Limited is a private company limited by shares and incorporated in England. Its registered office is:
32 Princess Street
Manchester
M1 4LB
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