The Cottage Bakery (Ampthill) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05464356

The Cottage Bakery (Ampthill) Limited

Filleted Unaudited Financial Statements

31 July 2024

The Cottage Bakery (Ampthill) Limited

Statement of Financial Position

31 July 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	16,167	29,667
Tangible assets	6	34,980	32,800
		--------	--------
		51,147	62,467

Current assets

Stocks		22,836	21,626
Debtors	7	54,421	66,404
Cash at bank and in hand		127,654	27,885
		---------	---------
		204,911	115,915

Creditors: amounts falling due within one year	8	156,061		82,359
		---------		---------
Net current assets			48,850	33,556
			--------	--------
Total assets less current liabilities			99,997	96,023

Creditors: amounts falling due after more than one year	9		9,469	20,050

Provisions

Taxation including deferred tax	5,768	4,945
	--------	--------
Net assets	84,760	71,028
	--------	--------

The Cottage Bakery (Ampthill) Limited

Statement of Financial Position (continued)

31 July 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	84,660	70,928
	--------	--------
Shareholders funds	84,760	71,028
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 March 2025 , and are signed on behalf of the board by:

S J Solway
Director

Company registration number: 05464356

The Cottage Bakery (Ampthill) Limited

Notes to the Financial Statements

Year ended 31 July 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR, Beds.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property improvements	-	On cost
Plant & machinery	-	33% straight line
Fixtures & fittings	-	10% straight line
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets. financial liabilities or equity instruments. An equity instrument ia any contact that evidences a residual interest in the assets of the company after deducting all of its liabilities

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 36 (2023: 32 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 August 2023 and 31 July 2024	270,000
	---------
Amortisation
At 1 August 2023	240,333
Charge for the year	13,500
	---------
At 31 July 2024	253,833
	---------
Carrying amount
At 31 July 2024	16,167
	---------
At 31 July 2023	29,667
	---------

6. Tangible assets

	Property improvements	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 August 2023	42,701	17,198	207,123	43,172	310,194
Additions	–	6,255	7,720	–	13,975
	--------	--------	---------	--------	---------
At 31 July 2024	42,701	23,453	214,843	43,172	324,169
	--------	--------	---------	--------	---------
Depreciation
At 1 August 2023	34,876	11,374	202,494	28,650	277,394
Charge for the year	1,975	4,137	2,051	3,632	11,795
	--------	--------	---------	--------	---------
At 31 July 2024	36,851	15,511	204,545	32,282	289,189
	--------	--------	---------	--------	---------
Carrying amount
At 31 July 2024	5,850	7,942	10,298	10,890	34,980
	--------	--------	---------	--------	---------
At 31 July 2023	7,825	5,824	4,629	14,522	32,800
	--------	--------	---------	--------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	36,434	43,230
Other debtors	17,987	23,174
	--------	--------
	54,421	66,404
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,375	10,192
Trade creditors	85,609	36,603
Corporation tax	–	15,763
Social security and other taxes	676	–
Other creditors	59,401	19,801
	---------	--------
	156,061	82,359
	---------	--------

Bank loans and overdrafts due within one year and after one year are in respect of a Coronavirus Bounce Back loan which is not secured on the assets of the company.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	9,469	20,050
	-------	--------

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	34,375	32,500
Later than 1 year and not later than 5 years	122,500	156,875
Later than 5 years	37,500	37,500
	---------	---------
	194,375	226,875
	---------	---------