Company registration number 09463837 (England and Wales)
THE HEAVENLY BAKE COMPANY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE HEAVENLY BAKE COMPANY LTD
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
THE HEAVENLY BAKE COMPANY LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 MARCH 2024
- 1 -

The directors present their annual report and financial statements for the period ended 31 March 2024.

Principal activities

The principal activity of the company continued to be that of the manufacturing of bread, fresh pastry goods and cakes.

Directors

The directors who held office during the period and up to the date of signature of the financial statements were as follows:

H Finnegan
(Appointed 31 May 2023)
C Finnegan
(Appointed 31 May 2023)
N Patel
(Resigned 31 May 2023)
M Patel
(Resigned 31 May 2023)
N Patel
(Resigned 31 May 2023)
S Patel
(Resigned 31 May 2023)
J Patel
(Resigned 31 May 2023)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
C Finnegan
Director
15 May 2025
THE HEAVENLY BAKE COMPANY LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
31 March 2024
31 December 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,287,859
694,600
Current assets
Stocks
715,193
376,153
Debtors
4
482,095
1,479,314
Cash at bank and in hand
5,304
327,143
1,202,592
2,182,610
Creditors: amounts falling due within one year
5
(2,801,317)
(1,020,397)
Net current (liabilities)/assets
(1,598,725)
1,162,213
Total assets less current liabilities
689,134
1,856,813
Creditors: amounts falling due after more than one year
6
(422,128)
-
0
Provisions for liabilities
-
0
(158,320)
Net assets
267,006
1,698,493
Capital and reserves
Called up share capital
200
200
Share premium account
149,910
149,910
Profit and loss reserves
116,896
1,548,383
Total equity
267,006
1,698,493
THE HEAVENLY BAKE COMPANY LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -

For the financial period ended 31 March 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 of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 May 2025 and are signed on its behalf by:
C Finnegan
Director
Company registration number 09463837 (England and Wales)
THE HEAVENLY BAKE COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

The Heavenly Bake Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5, Saddlers Court, Barley Thorpe, Oakham, Leicestershire, LE15 7GH. The company registration number is 09463837.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line basis
Plant and equipment
10% straight line basis
Fixtures and fittings
10% straight line basis

Assets under construction are not subject to depreciation until they are available for operational use in the business.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, inventories are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

 

THE HEAVENLY BAKE COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
87
62
THE HEAVENLY BAKE COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 6 -
3
Tangible fixed assets
Leasehold land and buildings
Assets under construction
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
£
Cost
At 1 January 2023
-
0
-
0
1,526,601
77,777
1,604,378
Additions
460,376
13,116
1,389,479
5,147
1,868,118
Disposals
-
0
-
0
-
0
(748)
(748)
At 31 March 2024
460,376
13,116
2,916,080
82,176
3,471,748
Depreciation and impairment
At 1 January 2023
-
0
-
0
859,715
50,063
909,778
Depreciation charged in the period
17,056
-
0
247,635
9,607
274,298
Eliminated in respect of disposals
-
0
-
0
-
0
(187)
(187)
At 31 March 2024
17,056
-
0
1,107,350
59,483
1,183,889
Carrying amount
At 31 March 2024
443,320
13,116
1,808,730
22,693
2,287,859
At 31 December 2022
-
0
-
0
666,886
27,714
694,600
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
9,843
1,376,129
Corporation tax recoverable
81,629
-
0
Amounts owed by group undertakings and undertakings in which the company has a participating interest
230,555
-
0
Other debtors
160,068
103,185
482,095
1,479,314
5
Creditors: amounts falling due within one year
2024
2022
£
£
Bank loans
135,953
-
0
Trade creditors
1,038,141
606,953
Amounts owed to group undertakings and undertakings in which the company has a participating interest
856,977
-
0
Corporation tax
-
0
108,244
Other taxation and social security
110,944
25,757
Other creditors
659,302
279,443
2,801,317
1,020,397
THE HEAVENLY BAKE COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2022
£
£
Other creditors
422,128
-
0
7
Related party transactions

All transactions that took place were on normal commercial terms and on an arms length basis and therefore no further disclosure is required by FRS102 Section 1A

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