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Registrar

Registration number: 05905174

Blackbird Bakery Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Blackbird Bakery Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 10

 

Blackbird Bakery Limited

Company Information

Directors

S Sweeney

E G Sweeney

Registered office

35 Rothschild Street
London
SE27 0JN

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Blackbird Bakery Limited

(Registration number: 05905174)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

393,707

423,654

Current assets

 

Stocks

6

24,165

24,607

Debtors

7

1,279,087

1,173,845

Cash at bank and in hand

 

469,833

361,559

 

1,773,085

1,560,011

Creditors: Amounts falling due within one year

8

(655,014)

(604,079)

Net current assets

 

1,118,071

955,932

Total assets less current liabilities

 

1,511,778

1,379,586

Creditors: Amounts falling due after more than one year

8

(92,131)

(200,527)

Provisions for liabilities

(79,978)

(75,479)

Net assets

 

1,339,669

1,103,580

Capital and reserves

 

Called up share capital

10

100

103

Share premium reserve

-

6,881

Retained earnings

1,339,569

1,096,596

Shareholders' funds

 

1,339,669

1,103,580

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

E G Sweeney
Director

 

Blackbird Bakery Limited

Statement of Changes in Equity for the Year Ended 30 June 2024

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 July 2023

103

6,881

1,096,596

1,103,580

Profit for the year

-

-

252,973

252,973

Dividends

-

-

(10,000)

(10,000)

Purchase of own share capital

(3)

(6,881)

-

(6,884)

At 30 June 2024

100

-

1,339,569

1,339,669


 

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 July 2022

103

6,881

1,150,094

1,157,078

Profit for the year

-

-

116,666

116,666

Dividends

-

-

(170,164)

(170,164)

At 30 June 2023

103

6,881

1,096,596

1,103,580


 

 

Blackbird Bakery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 35 Rothschild Street, London, SE27 0JN.

These financial statements were authorised for issue by the Board on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Government grants are assistance by government in the form of a transfer of resources to an entity in return for past or future compliance with specified conditions relating to the operating activities of the entity. Grants are recognised in the profit and loss account at the date they are received, under the performance model.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Blackbird Bakery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold properties

Straight line basis over the life of the lease

Plant and machinery

25% Straight line basis

Fixtures, fittings and equipment

25% Straight line basis

Motor vehicles

25% Straight line basis

Leasehold improvements

Straight line basis over the life of the lease

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line basis over its useful economic life

Stocks

Stocks are stated at cost and relates to baking raw materials.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Blackbird Bakery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 157 (2023 - 146).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

9,000

9,000

At 30 June 2024

9,000

9,000

Amortisation

At 1 July 2023

9,000

9,000

At 30 June 2024

9,000

9,000

Carrying amount

At 30 June 2024

-

-

 

Blackbird Bakery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Land and buildings
£

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Improvements to property
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

2,500

224,800

76,634

225,110

737,328

1,266,372

Additions

-

-

-

-

125,231

125,231

At 30 June 2024

2,500

224,800

76,634

225,110

862,559

1,391,603

Depreciation

At 1 July 2023

2,500

176,438

31,778

129,622

502,380

842,718

Charge for the year

-

16,610

15,266

21,689

101,613

155,178

At 30 June 2024

2,500

193,048

47,044

151,311

603,993

997,896

Carrying amount

At 30 June 2024

-

31,752

29,590

73,799

258,566

393,707

At 30 June 2023

-

48,362

44,856

95,488

234,948

423,654

 

Blackbird Bakery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Stocks

2024
£

2023
£

Other inventories

24,165

24,607

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

27,985

13,908

Amounts owed by group undertakings and undertakings in which the company has a participating interest

13

382,110

286,176

Prepayments

 

96,423

95,812

Other debtors

 

772,569

777,949

 

1,279,087

1,173,845

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

81,436

41,765

Trade creditors

 

162,092

160,907

Taxation and social security

 

200,735

119,874

Accruals and deferred income

 

184,887

259,308

Other creditors

 

25,864

22,225

 

655,014

604,079

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

92,131

200,527

 

Blackbird Bakery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

63,761

23,040

Hire purchase contracts

17,675

18,725

81,436

41,765

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

86,239

176,960

Hire purchase contracts

5,892

23,567

92,131

200,527

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary B shares of £0 (2023 - £1) each

-

-

3

3

100

100

103

103

During the year 3 ordinary B shares were bought back by the company for a price of £6,884.

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

147,587

184,903

Later than one year and not later than five years

522,742

568,429

Later than five years

285,625

374,509

955,954

1,127,841

The amount of non-cancellable operating lease payments recognised as an expense during the year was £177,900 (2023 - £185,512).

 

Blackbird Bakery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

12

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are guarantees of £150,000 (2023 - £200,000). The bank loan is secured by a fixed and floating charge over the company's assets.

13

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Director's Loan Account

286,177

112,962

(17,029)

382,110

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Director's Loan Account

335,865

120,476

(170,164)

286,177

 

Expenditure with and payables to related parties

2024

Other related parties
£

Rent payable

113,103

2023

Other related parties
£

Rent payable

98,190

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

586,856

586,856

Advanced

3,083

3,083

At end of period

589,939

589,939

2023

Other related parties
£

Total
£

At start of period

563,857

563,857

Advanced

22,999

22,999

At end of period

586,856

586,856