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COMPANY REGISTRATION NUMBER: 05752685
Timberhill Bakery Ltd
Unaudited financial statements
31 August 2024
Timberhill Bakery Ltd
Statement of financial position
31 August 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
118,140
53,810
Current assets
Stocks
11,843
13,994
Debtors
6
7,115
2,956
Cash at bank and in hand
6,764
4,402
-------
-------
25,722
21,352
Prepayments and accrued income
1,711
2,854
Creditors: Amounts falling due within one year
7
( 222,260)
( 113,574)
---------
---------
Net current liabilities
( 194,827)
( 89,368)
---------
-------
Total assets less current liabilities
( 76,687)
( 35,558)
Creditors: Amounts falling due after more than one year
8
( 11,304)
( 19,231)
Accruals and deferred income
( 3,631)
( 2,482)
-------
-------
Net liabilities
( 91,622)
( 57,271)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 91,722)
( 57,371)
-------
-------
Shareholders deficit
( 91,622)
( 57,271)
-------
-------
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 income statement has not been delivered.
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Timberhill Bakery Ltd
Statement of financial position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 15 May 2025 , and are signed on behalf of the board by:
Mr M L Sweetman
Director
Company registration number: 05752685
Timberhill Bakery Ltd
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Old Gloucester Street, London, WC1N 3AX, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity .
Going concern
The accounts have been prepared on a going concern basis as the director believes that adequate resources are available to enable the company to meet its liabilities as they fall due through the support of the director
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery
-
between 10% and 33% straight line & 20% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Leasehold improvements
-
16% straight line
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 stock to its present location and condition.
4. Employee numbers
The average number of employees during the year was 4 (2023: 4 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Leasehold improvemnt
Total
£
£
£
£
£
Cost
At 1 September 2023
84,889
4,811
89,700
Additions
11,303
16,498
1,150
52,086
81,037
Disposals
( 1,500)
( 1,500)
-------
-------
------
-------
---------
At 31 August 2024
94,692
16,498
5,961
52,086
169,237
-------
-------
------
-------
---------
Depreciation
At 1 September 2023
34,106
1,784
35,890
Charge for the year
12,006
687
1,644
1,426
15,763
Disposals
( 556)
( 556)
-------
-------
------
-------
---------
At 31 August 2024
45,556
687
3,428
1,426
51,097
-------
-------
------
-------
---------
Carrying amount
At 31 August 2024
49,136
15,811
2,533
50,660
118,140
-------
-------
------
-------
---------
At 31 August 2023
50,783
3,027
53,810
-------
-------
------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
624
1
Other debtors
6,491
2,955
------
------
7,115
2,956
------
------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
4,524
6,585
Social security and other taxes
253
Bank loans and overdrafts
8,000
8,000
Other creditors
209,736
98,736
---------
---------
222,260
113,574
---------
---------
8. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,304
19,231
-------
-------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
10,000
Later than 1 year and not later than 5 years
13,333
-------
----
23,333
-------
----