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Registration number: 10857332

Premier Pastries & Sweets Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Premier Pastries & Sweets Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Premier Pastries & Sweets Ltd

Company Information

Director

Mr Izaias De Oliveira Ciappina

Registered office

Unit 15-16
8 High Cross Centre
Fountayne Road
London
N15 4QN

Accountants

Loyal Accountancy Ltd Suite 2.04
Oxford House
49 Oxford Road
London
N4 3EY

 

Premier Pastries & Sweets Ltd

(Registration number: 10857332)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

33,395

23,326

Current assets

 

Debtors

4

28,630

30,582

Cash at bank and in hand

 

217,893

217,804

 

246,523

248,386

Creditors: Amounts falling due within one year

5

(39,550)

(64,856)

Net current assets

 

206,973

183,530

Total assets less current liabilities

 

240,368

206,856

Provisions for liabilities

(6,345)

(4,432)

Net assets

 

234,023

202,424

Capital and reserves

 

Called up share capital

6

102

102

Retained earnings

233,921

202,322

Shareholders' funds

 

234,023

202,424

 

Premier Pastries & Sweets Ltd

(Registration number: 10857332)
Balance Sheet as at 31 July 2024

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 April 2025
 

.........................................
Mr Izaias De Oliveira Ciappina
Director

 

Premier Pastries & Sweets Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

1

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Premier Pastries & Sweets Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Premier Pastries & Sweets Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 4).

3

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

39,318

39,318

Additions

15,960

15,960

At 31 July 2024

55,278

55,278

Depreciation

At 1 August 2023

15,992

15,992

Charge for the year

5,891

5,891

At 31 July 2024

21,883

21,883

Carrying amount

At 31 July 2024

33,395

33,395

At 31 July 2023

23,326

23,326

4

Debtors

Current

2024
£

2023
£

Trade debtors

26,730

28,682

Prepayments

1,900

1,900

 

28,630

30,582

 

Premier Pastries & Sweets Ltd

Notes to the Financial Statements for the Year Ended 31 July 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,655

4,492

Taxation and social security

15,666

27,229

Other creditors

21,229

33,135

39,550

64,856

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

Ordinary A share of £1 each

1

1

1

1

Ordinary B Share of £1 each

1

1

1

1

102

102

102

102