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Company registration number: 11632697
Cambridge Bakery Ltd
Unaudited filleted financial statements
31 December 2024
Coulter & Co.
Chartered Certified Accountants
Cambridge Bakery Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Cambridge Bakery Ltd
Directors and other information
Directors Scott Holden
Simon Curley
Company number 11632697
Registered office 111-113 Mill Road
Cambridge
CB1 2AZ
Accountants Coulter & Co.
Pera Business Park
M03 Tower Buiding
Nottingham Road
Melton Mowbray
LE13 0PB
Cambridge Bakery Ltd
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 34,060 38,029
Tangible assets 6 94,084 103,298
_______ _______
128,144 141,327
Current assets
Stocks 6,000 6,000
Debtors 7 35,113 37,769
Cash at bank and in hand 41,213 55,388
_______ _______
82,326 99,157
Creditors: amounts falling due
within one year 8 ( 100,986) ( 95,629)
_______ _______
Net current (liabilities)/assets ( 18,660) 3,528
_______ _______
Total assets less current liabilities 109,484 144,855
Creditors: amounts falling due
after more than one year 9 ( 28,272) ( 83,976)
Provisions for liabilities ( 3,483) ( 4,482)
_______ _______
Net assets 77,729 56,397
_______ _______
Capital and reserves
Called up share capital 999 999
Profit and loss account 76,730 55,398
_______ _______
Shareholders funds 77,729 56,397
_______ _______
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 March 2025 , and are signed on behalf of the board by:
Scott Holden
Director
Company registration number: 11632697
Cambridge Bakery Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 111-113 Mill Road, Cambridge, CB1 2AZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their 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 in finance costs in profit or loss in the period it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 21 (2023: 20 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 352,199 312,010
_______ _______
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 January 2024 and 31 December 2024 55,557 55,557
_______ _______
Amortisation
At 1 January 2024 17,529 17,529
Charge for the year 3,968 3,968
_______ _______
At 31 December 2024 21,497 21,497
_______ _______
Carrying amount
At 31 December 2024 34,060 34,060
_______ _______
At 31 December 2023 38,028 38,028
_______ _______
6. Tangible assets
Long leasehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 January 2024 104,781 70,745 31,078 206,604
Additions - - 3,786 3,786
_______ _______ _______ _______
At 31 December 2024 104,781 70,745 34,864 210,390
_______ _______ _______ _______
Depreciation
At 1 January 2024 25,071 64,789 13,446 103,306
Charge for the year 6,985 ( 612) 6,627 13,000
_______ _______ _______ _______
At 31 December 2024 32,056 64,177 20,073 116,306
_______ _______ _______ _______
Carrying amount
At 31 December 2024 72,725 6,568 14,791 94,084
_______ _______ _______ _______
At 31 December 2023 79,710 5,956 17,632 103,298
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 4,002 5,456
Other debtors 31,111 32,313
_______ _______
35,113 37,769
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 29,528 19,231
Corporation tax 8,500 14,535
Social security and other taxes 54,518 52,374
Other creditors 8,440 9,489
_______ _______
100,986 95,629
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 19,871 30,075
Other creditors 8,401 53,901
_______ _______
28,272 83,976
_______ _______