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Registration number: 05930991

Emma's Country Cakes Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Emma's Country Cakes Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Emma's Country Cakes Limited

Company Information

Director

Miss E R Davies

Registered office

Unit 61 Lydney Industrial Estate
Lydney
Gloucestershire
GL15 4EJ

Accountants

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Emma's Country Cakes Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Emma's Country Cakes Limited for the year ended 30 September 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Emma's Country Cakes Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Emma's Country Cakes Limited and state those matters that we have agreed to state to the Board of Directors of Emma's Country Cakes Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emma's Country Cakes Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Emma's Country Cakes Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Emma's Country Cakes Limited. You consider that Emma's Country Cakes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Emma's Country Cakes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Burton Sweet
Chartered Certified Accountants
Cornerstone House
Midland Way
Thornbury
Bristol
BS35 2BS

5 June 2025

 

Emma's Country Cakes Limited

(Registration number: 05930991)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

80,000

120,000

Tangible assets

5

99,355

110,955

 

179,355

230,955

Current assets

 

Stocks

7

207,505

295,840

Debtors

8

258,440

235,630

Other financial assets

6

31,667

26,974

Cash at bank and in hand

 

255,274

354,348

 

752,886

912,792

Creditors: Amounts falling due within one year

9

(149,668)

(253,223)

Net current assets

 

603,218

659,569

Total assets less current liabilities

 

782,573

890,524

Provisions for liabilities

(13,387)

(16,286)

Net assets

 

769,186

874,238

Capital and reserves

 

Called up share capital

1,101

1,101

Retained earnings

768,085

873,137

Shareholders' funds

 

769,186

874,238

For the financial year ending 30 September 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Emma's Country Cakes Limited

(Registration number: 05930991)
Balance Sheet as at 30 September 2024

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.

Approved and authorised by the director on 5 June 2025
 

.........................................
Miss E R Davies
Director

 

Emma's Country Cakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Unit 61 Lydney Industrial Estate
Lydney
Gloucestershire
GL15 4EJ

These financial statements were authorised for issue by the director on 5 June 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Emma's Country Cakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

20% Reducing balance

Motor vehicles

20% Reducing balance

Office equipment

20% Reducing balance

 

Emma's Country Cakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% Straight line

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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, stocks 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.

 

Emma's Country Cakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 subsequently measured at amortised cost using the effective interest method.

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.

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 24 (2023 - 23).

 

Emma's Country Cakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

800,000

800,000

At 30 September 2024

800,000

800,000

Amortisation

At 1 October 2023

680,000

680,000

Amortisation charge

40,000

40,000

At 30 September 2024

720,000

720,000

Carrying amount

At 30 September 2024

80,000

80,000

At 30 September 2023

120,000

120,000

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 October 2023

43,159

81,130

269,578

393,867

Additions

-

-

2,451

2,451

At 30 September 2024

43,159

81,130

272,029

396,318

Depreciation

At 1 October 2023

-

39,992

242,920

282,912

Charge for the year

-

8,228

5,823

14,051

At 30 September 2024

-

48,220

248,743

296,963

Carrying amount

At 30 September 2024

43,159

32,910

23,286

99,355

At 30 September 2023

43,159

41,138

26,658

110,955

 

Emma's Country Cakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Included within the net book value of land and buildings above is £43,159 (2023 - £43,159) in respect of freehold land and buildings.
 

 

Emma's Country Cakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 October 2023

26,974

26,974

Fair value adjustments

4,693

4,693

At 30 September 2024

31,667

31,667

Impairment

Carrying amount

At 30 September 2024

31,667

31,667

7

Stocks

2024
£

2023
£

Other inventories

207,505

295,840

8

Debtors

Current

2024
£

2023
£

Trade debtors

230,971

202,846

Prepayments

6,372

4,789

Other debtors

21,097

27,995

 

258,440

235,630

9

Creditors

Creditors: amounts falling due within one year

 

Emma's Country Cakes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024
£

2023
£

Due within one year

Trade creditors

85,532

186,526

Taxation and social security

21,405

24,926

Accruals and deferred income

29,078

27,657

Other creditors

13,653

14,114

149,668

253,223

10

Related party transactions

2024

At 1 October 2023
£

Repayments by director
£

At 30 September 2024
£

Loan

488

(484)

4

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Loan

509

(122,521)

122,500

488