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REGISTERED NUMBER: 03402469 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

L & M BAKERIES LIMITED

L & M BAKERIES LIMITED (REGISTERED NUMBER: 03402469)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L & M BAKERIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: Mr E M Gregoriou





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 03402469 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

L & M BAKERIES LIMITED (REGISTERED NUMBER: 03402469)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Investment property 4 750,000 750,000

CURRENT ASSETS
Debtors 5 2,080 1,745
Cash at bank and in hand 17,798 21,702
19,878 23,447
CREDITORS
Amounts falling due within one year 6 35,319 22,321
NET CURRENT (LIABILITIES)/ASSETS (15,441 ) 1,126
TOTAL ASSETS LESS CURRENT
LIABILITIES

734,559

751,126

PROVISIONS FOR LIABILITIES 7 34,178 34,178
NET ASSETS 700,381 716,948

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 335,877 335,877
Retained earnings 364,404 380,971
SHAREHOLDERS' FUNDS 700,381 716,948

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

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

The director acknowledges his 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.

L & M BAKERIES LIMITED (REGISTERED NUMBER: 03402469)

BALANCE SHEET - continued
31 AUGUST 2024


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

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

The financial statements were approved by the director and authorised for issue on 15 May 2025 and were signed by:





Mr E M Gregoriou - Director


L & M BAKERIES LIMITED (REGISTERED NUMBER: 03402469)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

L & M Bakeries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 750,000
NET BOOK VALUE
At 31 August 2024 750,000
At 31 August 2023 750,000

L & M BAKERIES LIMITED (REGISTERED NUMBER: 03402469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. INVESTMENT PROPERTY - continued

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2017 220,055
Valuation in 2021 150,000
Cost 379,945
750,000

If investment property had not been revalued it would have been included at the following historical cost:

31.8.24 31.8.23
£    £   
Cost 379,945 379,945

Investment property was valued on an open market basis on 31 August 2024 by the director .

The directors have revalued the properties in accordance with valuations of similar properties in the area as at 31/08/2024 and post year end sales values.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 2,080 -
Prepayments - 1,745
2,080 1,745

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Corporation tax payable - 2,255
Director`s current account 19,839 4,226
Accrued expenses 480 840
Tenants deposit 15,000 15,000
35,319 22,321

7. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 34,178 34,178

L & M BAKERIES LIMITED (REGISTERED NUMBER: 03402469)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 34,178
Movement in the year
Balance at 31 August 2024 34,178

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
At 1 September 2023
and 31 August 2024 335,877