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REGISTERED NUMBER: SC487541 (Scotland)















Financial Statements For The Year Ended 31 July 2024

for

Mhor Bread Ltd

Mhor Bread Ltd (Registered number: SC487541)






Contents of the Financial Statements
For The Year Ended 31 July 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Mhor Bread Ltd

Company Information
For The Year Ended 31 July 2024







DIRECTORS: O D Lewis
T O Lewis





REGISTERED OFFICE: Balquhidder
Lochearnhead
Perthshire
FK19 8PQ





REGISTERED NUMBER: SC487541 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Mhor Bread Ltd (Registered number: SC487541)

Abridged Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 361,789 386,086

CURRENT ASSETS
Stocks 27,528 31,000
Debtors 94,161 87,975
Cash at bank and in hand 130,735 80,988
252,424 199,963
CREDITORS
Amounts falling due within one year 139,393 145,966
NET CURRENT ASSETS 113,031 53,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

474,820

440,083

CREDITORS
Amounts falling due after more than one
year

5

(251,211

)

(267,039

)

PROVISIONS FOR LIABILITIES (17,496 ) (21,544 )
NET ASSETS 206,113 151,500

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 206,013 151,400
SHAREHOLDERS' FUNDS 206,113 151,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mhor Bread Ltd (Registered number: SC487541)

Abridged Statement of Financial Position - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





T O Lewis - Director


Mhor Bread Ltd (Registered number: SC487541)

Notes to the Financial Statements
For The Year Ended 31 July 2024

1. STATUTORY INFORMATION

Mhor Bread Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to the date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Heritable property - 2% on cost
Improvements to property - Over 15 years
Fixed plant and equipment - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Mhor Bread Ltd (Registered number: SC487541)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023 513,628
Additions 15,609
At 31 July 2024 529,237
DEPRECIATION
At 1 August 2023 127,542
Charge for year 39,906
At 31 July 2024 167,448
NET BOOK VALUE
At 31 July 2024 361,789
At 31 July 2023 386,086

Mhor Bread Ltd (Registered number: SC487541)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 August 2023 46,150
Reclassification/transfer 12,750
At 31 July 2024 58,900
DEPRECIATION
At 1 August 2023 18,410
Charge for year 14,725
Reclassification/transfer 2,125
At 31 July 2024 35,260
NET BOOK VALUE
At 31 July 2024 23,640
At 31 July 2023 27,740

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 years 204,399 212,287

6. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 10,432 14,682
Between one and five years 15,565 25,997
25,997 40,679

Mhor Bread Ltd (Registered number: SC487541)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 241,854 247,077
Hire purchase contracts 25,997 40,679
267,851 287,756

Cumberland Building Society (UK) plc hold a standard security over the property of the company and a floating
charge over the company's assets.