La Boulangerie Artisan Ltd 10922824 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is manufacture of bread, fresh pastry and cakes. Digita Accounts Production Advanced 6.30.9574.0 true 10922824 2023-09-01 2024-08-31 10922824 2024-08-31 10922824 core:AcceleratedTaxDepreciationDeferredTax 2024-08-31 10922824 core:CurrentFinancialInstruments 2024-08-31 10922824 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 10922824 core:Non-currentFinancialInstruments 2024-08-31 10922824 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 10922824 core:FurnitureFittingsToolsEquipment 2024-08-31 10922824 core:LandBuildings 2024-08-31 10922824 core:MotorVehicles 2024-08-31 10922824 bus:SmallEntities 2023-09-01 2024-08-31 10922824 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10922824 bus:FilletedAccounts 2023-09-01 2024-08-31 10922824 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10922824 bus:RegisteredOffice 2023-09-01 2024-08-31 10922824 bus:Director5 2023-09-01 2024-08-31 10922824 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10922824 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 10922824 core:LandBuildings 2023-09-01 2024-08-31 10922824 core:LeaseholdImprovements 2023-09-01 2024-08-31 10922824 core:MotorVehicles 2023-09-01 2024-08-31 10922824 core:PlantMachinery 2023-09-01 2024-08-31 10922824 core:Vehicles 2023-09-01 2024-08-31 10922824 countries:EnglandWales 2023-09-01 2024-08-31 10922824 2023-08-31 10922824 core:FurnitureFittingsToolsEquipment 2023-08-31 10922824 core:LandBuildings 2023-08-31 10922824 core:MotorVehicles 2023-08-31 10922824 2022-09-01 2023-08-31 10922824 2023-08-31 10922824 core:AcceleratedTaxDepreciationDeferredTax 2023-08-31 10922824 core:ProvisionsDeferredTax 2023-08-31 10922824 core:CurrentFinancialInstruments 2023-08-31 10922824 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10922824 core:Non-currentFinancialInstruments 2023-08-31 10922824 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 10922824 core:FurnitureFittingsToolsEquipment 2023-08-31 10922824 core:LandBuildings 2023-08-31 10922824 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 10922824

Prepared for the registrar

La Boulangerie Artisan Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

La Boulangerie Artisan Ltd

(Registration number: 10922824)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

403,444

434,072

Current assets

 

Stocks

30,754

33,559

Debtors

5

50,965

26,940

Cash at bank and in hand

 

352,185

134,997

 

433,904

195,496

Creditors: Amounts falling due within one year

6

(201,529)

(100,766)

Net current assets

 

232,375

94,730

Total assets less current liabilities

 

635,819

528,802

Creditors: Amounts falling due after more than one year

6

(12,500)

(22,500)

Deferred tax liabilities

8

(80,953)

(78,030)

Net assets

 

542,366

428,272

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

542,266

428,172

Shareholders' funds

 

542,366

428,272

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 May 2025
 


J M Dunkerton
Director

 

La Boulangerie Artisan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Dowdeswell Park
London Road
Cheltenham
GL52 6UT

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

La Boulangerie Artisan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% straight line

Furniture, fittings and equipment

15% and 25% straight line

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

La Boulangerie Artisan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
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 on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 52 (2023 - 32).

 

La Boulangerie Artisan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

 

4

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 September 2023

218,243

478,322

-

696,565

Additions

15,783

66,996

20,195

102,974

Disposals

-

(11,980)

-

(11,980)

At 31 August 2024

234,026

533,338

20,195

787,559

Depreciation

At 1 September 2023

66,575

195,918

-

262,493

Charge for the year

46,750

80,771

2,104

129,625

Eliminated on disposal

-

(8,003)

-

(8,003)

At 31 August 2024

113,325

268,686

2,104

384,115

Carrying amount

At 31 August 2024

120,701

264,652

18,091

403,444

At 31 August 2023

151,668

282,404

-

434,072

 

5

Debtors

2024
£

2023
£

Trade debtors

18,326

5,009

Prepayments

13,311

14,180

Other debtors

19,328

7,751

50,965

26,940

 

6

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

10,000

10,000

Trade creditors

 

66,585

35,452

Social security and other taxes

 

21,265

8,936

Outstanding defined contribution pension costs

 

-

247

Other creditors

 

863

72

Accrued expenses

 

27,189

16,709

Corporation tax liability

75,627

29,350

 

201,529

100,766

Due after one year

 

Loans and borrowings

7

12,500

22,500

 

La Boulangerie Artisan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

 

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,500

22,500

The £22,500 bank borrowings (£10,000 due within one year and £12,500 due after one year) represent a Bounce Back loan which is guaranteed by the UK Government.

 

8

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Origination and reversal of timing differences

80,953

80,953

2023

Liability
£

Origination and reversal of timing differences

78,056

Short term timing differences

(26)

78,030

 

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £58,846 (2023 - £83,196).

 

10

Related party transactions

Transactions with directors

At 31 August 2024, the company was owed £Nil (2023: £529) by the director J M Dunkerton, in the form of a director's loan account. The amount is interest free and repayable on demand.

Transactions with other related parties

At 31 August 2024, the company was owed £Nil (2023: £150) by Dowdeswell Park (Estates) LLP. The entities are related by virtue of the director J M Dunkerton.

During the year, the company paid rent of £173,898 (2023: £100,652) to Dunkertons Cider Co Ltd being 20% of the sales revenue generated from that site. The entities are related by virtue of the director J M Dunkerton.