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Company Registration No. 04515390 (England and Wales)
NAFEES BAKERS LIMITED Unaudited accounts for the year ended 31 August 2024
NAFEES BAKERS LIMITED Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4,997 
6,663 
Tangible assets
830,516 
815,012 
Investment property
738,096 
462,535 
1,573,609 
1,284,210 
Current assets
Inventories
309,165 
235,245 
Debtors
1,506,760 
1,517,104 
Cash at bank and in hand
753,686 
798,858 
2,569,611 
2,551,207 
Creditors: amounts falling due within one year
(3,044,271)
(2,800,809)
Net current liabilities
(474,660)
(249,602)
Total assets less current liabilities
1,098,949 
1,034,608 
Provisions for liabilities
Deferred tax
(106,919)
(107,722)
Net assets
992,030 
926,886 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
992,028 
926,884 
Shareholders' funds
992,030 
926,886 
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by
Asif Saleem Director Company Registration No. 04515390
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NAFEES BAKERS LIMITED Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
NAFEES BAKERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04515390. The registered office is 210-212 Lilycroft Road, Bradford, West Yorkshire, BD9 5AJ, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
expenditure on lease hold 25% reducing balance basis
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Intangible fixed assets
Intangible fixed assets (expenditure on leasehold) are included at cost less accumulated amortisation.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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NAFEES BAKERS LIMITED Notes to the Accounts for the year ended 31 August 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
The directors have carried out a detailed review of the company's resources and projected income streams. They are confident that the company has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements. Therefore, the company continues to adopt the going concern basis in preparing the financial statements.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 September 2023
72,212 
At 31 August 2024
72,212 
Amortisation
At 1 September 2023
65,549 
Charge for the year
1,666 
At 31 August 2024
67,215 
Net book value
At 31 August 2024
4,997 
At 31 August 2023
6,663 
- 4 -
NAFEES BAKERS LIMITED Notes to the Accounts for the year ended 31 August 2024
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 September 2023
2,940,046 
Additions
246,134 
Disposals
(23,000)
At 31 August 2024
3,163,180 
Depreciation
At 1 September 2023
2,125,034 
Charge for the year
207,630 
At 31 August 2024
2,332,664 
Net book value
At 31 August 2024
830,516 
At 31 August 2023
815,012 
6
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
106,919 
107,722 
2024 
2023 
£ 
£ 
Provision at start of year
107,722 
98,976 
(Credited)/charged to the profit and loss account
(803)
8,746 
Provision at end of year
106,919 
107,722 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Average number of employees
During the year the average number of employees was 48 (2023: 48).
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