| REGISTERED NUMBER: 12199448 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| AUDITED |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| BAKERS OF DANBURY LIMITED |
| REGISTERED NUMBER: 12199448 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| AUDITED |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| BAKERS OF DANBURY LIMITED |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 6 |
| Consolidated Income Statement | 9 |
| Consolidated Balance Sheet | 11 |
| Company Balance Sheet | 12 |
| Consolidated Statement of Changes in Equity | 13 |
| Company Statement of Changes in Equity | 14 |
| Consolidated Cash Flow Statement | 15 |
| Notes to the Consolidated Financial Statements | 16 |
| BAKERS OF DANBURY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: | Lee Daley FCA FCCA |
| AUDITORS: |
| Chartered Accountants |
| and Statutory Auditors |
| Unit 4 Mulgrave Chambers |
| 26-28 Mulgrave Road |
| Sutton |
| Surrey |
| SM2 6LE |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| The directors present their strategic report of the company and the group for the year ended 30 September 2024. |
| REVIEW OF BUSINESS |
| The group continued to consolidate its position as one of the more established and widely recognised specialists in monumental, historical and listed property building and renovation, having built up a strong and stable supply chain and distribution network over 140 years of trading. Current secured workload is very healthy and tender levels remain high. |
| The group companies are committed to providing high quality work at the most competitive price in the market through its dedicated in-house team and are proud to offer a highly responsive service backed by strong product expertise and knowledge. |
| On 26 April 2024, Collins & Curtis Masonry Limited, one of the group subsidiaries, entered into a Creditors' Voluntary Liquidation, the accounts accordingly only include the results of the subsidiary up and to that date. |
| Turnover in respect on continuing activities, increased by 7% following a whole group review of activities in 2023 by management, each subsidiary now ensures that they concentrate on more profitable activities and specialisms. |
| Gross profit margins, in respect of continuing activities, have fallen slightly by 1.41% to 12.89%. |
| The Director's are pleased with the group's performance given the challenging economic conditions prevailing in the year, This continues to enable the group to provide support to local associations and charities, as well as regional and national heritage organisations. |
| KEY PERFORMANCE INDICATORS |
| The group uses the following Key Performance Indicators to monitor the performance of the business: |
| 2024 | 2023 |
| Turnover - continuing activities | £22.25m | £20.81m |
| Turnover - total | £22.44m | £21.24m |
| Gross Profit Percentage - continuing activities | 12.89% | 14.30% |
| Gross Profit Percentage - total | 12.72% | 13.86% |
| Profit before tax - continuing activities | £0.69m | £0.69m |
| Profit before tax - total | £0.61m | £0.47m |
| Net assets | £1.64m | £1.39m |
| The net asset position reflects the solid position of the group from a solvency point of view and this forms the foundation on which the group can continue to grow and prosper. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The management of the business and the nature of the company's strategy are subject to a number of risks and the Directors have set out below the principal risks facing the business. The Directors are of the opinion that a thorough risk management process is adopted which involves a formal review of all risks identified below. Where possible, processes are in place to mitigate such risks. |
| Financial Risk Management |
| The group monitors its cash flow and working capital requirements to ensure that an adequate level of liquidity is maintained at all times. It is the group's policy to pay its suppliers in line with their credit terms. |
| Economic Risk Management |
| The group recognises the challenging risks associated with the current economic environment and believes that it has a strong Balance Sheet, robust internal controls and the necessary long-term strategy required to minimise the impact of these risks. |
| Competitive Risk Management |
| The group recognises the risks associated with the highly competitive markets that it operates in and will continue to offer the highest level of service to all of its customers as well as maintaining its support of its business partners. |
| Credit Risk Management |
| As with most businesses the group is exposed to the credit risk of customers and their ability to pay debts on a timely basis. The Directors have continued to be prudent in status checks for new and existing customers, keeping debtor days as low as possible and limiting the dominance of any single customer in the overall turnover of the group. |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| GROUP STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| PRINCIPAL RISKS AND UNCERTAINTIES - (continued) |
| Inflation and the cost of living crisis |
| Global inflationary pressures that have arisen, as identified above, continue to represent the more significant risks to the group. These pressures are seen most clearly in relation to: |
| Wage cost inflation |
| The group is continually affected by wage cost inflation and pressures within the labour market. The group monitors the market to ensure complete compliance with labour market regulations, and maintains employment policies, remuneration and benefits packages that are designed to be competitive with other entities, as well as providing employees with fulfilling career opportunities. |
| Raw product cost and freight |
| Pressures globally have increased the raw product cost and the cost to move that raw product around the globe. The group continues to work hard with both manufacturers and logistical companies to achieve the best price through efficiencies of ordering and bulk purchasing. |
| ON BEHALF OF THE BOARD: |
| 6 June 2025 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024. |
| PRINCIPAL ACTIVITIES |
| The principal activity of the company in the year under review were that of a holding company and group management company. The activities of its subsidiaries are disclosed in note 11. |
| DIVIDENDS |
| During the year dividends were paid of £208,390 (2023: £196,107) The directors do not recommend a further dividend. |
| FUTURE DEVELOPMENTS |
| Since the year end, the group has received a regular stream of tenders and enquiries, a number of which are being successfully converted into contracts. The directors source new business, from both existing and new contacts whilst continuing to receive a large amount of insurance related work. |
| The directors monitor the marketplace, given the ongoing problems with a shortage of skilled labour and price pressures on raw materials, the current cost of living crisis and increased energy costs globally. The directors feel that, with their current loyal workforce and the regular inflow of work, they are well placed to to quote and win major contracts ensuring that the group continues its success. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report. |
| ACQUISITION OF OWN SHARES |
| During the year, the group acquired 108 (2023: Nil) of its issued D Ordinary shares for £11,909 (2023: £Nil). |
| The shares represented 6.3% (2023: Nil) of the D Ordinary shares in issue prior to their purchase. The transactions were undertaken to retain control of the group amongst the existing director shareholders. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| AUDITORS |
| The auditors, THP Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| BAKERS OF DANBURY LIMITED |
| Opinion |
| We have audited the financial statements of Bakers of Danbury Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| BAKERS OF DANBURY LIMITED |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. |
| Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
| - | the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
| - | we identified the laws and regulations applicable to the group through discussions with directors and other management, and from our commercial knowledge and experience of the sectors in which the group operates; |
| - | we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental, building regulations and health and safety legislation; |
| - | we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
| - | identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
| We assessed the susceptibility of the groups financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
| - | making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
| - | considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
| To address the risk of fraud through management bias and override of controls, we: |
| - | performed analytical procedures to identify any unusual or unexpected relationships; |
| - | reviewed journal entries to identify unusual transactions; |
| - | assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and |
| - | investigated the rationale behind significant or unusual transactions. |
| In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
| - | agreeing financial statement disclosures to underlying supporting documentation; |
| - | enquiring of management as to actual and potential litigation and claims; and |
| - | reviewing correspondence with HMRC and any other relevant regulators as required. |
| There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
| Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| BAKERS OF DANBURY LIMITED |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Chartered Accountants |
| and Statutory Auditors |
| Unit 4 Mulgrave Chambers |
| 26-28 Mulgrave Road |
| Sutton |
| Surrey |
| SM2 6LE |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| CONSOLIDATED INCOME STATEMENT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2024 | 2024 | 2024 |
| Continuing | Discontinued | Total |
| Notes | £ | £ | £ |
| TURNOVER | 3 | 22,251,737 | 185,004 | 22,436,741 |
| Cost of sales | (19,383,102 | ) | (198,379 | ) | (19,581,481 | ) |
| GROSS PROFIT/(LOSS) | 2,868,635 | (13,375 | ) | 2,855,260 |
| Administrative expenses | (2,186,833 | ) | (68,868 | ) | (2,255,701 | ) |
| 681,802 | (82,243 | ) | 599,559 |
| Other operating income | 8,512 | 120 | 8,632 |
| OPERATING PROFIT/(LOSS) | 5 | 690,314 | (82,123 | ) | 608,191 |
| Interest receivable and similar income | 30,405 | - | 30,405 |
| Interest payable and similar expenses | 6 | (25,218 | ) | - | (25,218 | ) |
| PROFIT/(LOSS) BEFORE TAXATION | 695,501 | (82,123 | ) | 613,378 |
| Tax on profit/(loss) | 7 | (142,053 | ) | (292 | ) | (142,345 | ) |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
| Profit/(loss) attributable to: |
| Owners of the parent | 457,629 |
| Non-controlling interests | 13,404 |
| 471,033 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| CONSOLIDATED INCOME STATEMENT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2023 | 2023 | 2023 |
| Continuing | Discontinued | Total |
| Notes | £ | £ | £ |
| TURNOVER | 3 | 20,813,266 | 430,103 | 21,243,369 |
| Cost of sales | (17,836,880 | ) | (462,841 | ) | (18,299,721 | ) |
| GROSS PROFIT/(LOSS) | 2,976,386 | (32,738 | ) | 2,943,648 |
| Administrative expenses | (2,246,796 | ) | (189,782 | ) | (2,436,578 | ) |
| 729,590 | (222,520 | ) | 507,070 |
| Other operating income | - | 381 | 381 |
| OPERATING PROFIT/(LOSS) | 5 | 729,590 | (222,139 | ) | 507,451 |
| Interest payable and similar expenses | 6 | (35,597 | ) | - | (35,597 | ) |
| PROFIT/(LOSS) BEFORE TAXATION | 693,993 | (222,139 | ) | 471,854 |
| Tax on profit/(loss) | 7 | (104,145 | ) | (56 | ) | (104,201 | ) |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
| Profit/(loss) attributable to: |
| Owners of the parent | 391,791 |
| Non-controlling interests | (24,138 | ) |
| 367,653 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| CONSOLIDATED BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 10 | 3,750 | 3,750 |
| Tangible assets | 11 | 190,245 | 128,094 |
| Investments | 12 | - | - |
| 193,995 | 131,844 |
| CURRENT ASSETS |
| Stocks | 13 | 33,779 | 48,537 |
| Debtors | 14 | 4,825,588 | 4,568,904 |
| Cash at bank and in hand | 2,230,075 | 1,518,690 |
| 7,089,442 | 6,136,131 |
| CREDITORS |
| Amounts falling due within one year | 15 | 5,502,060 | 4,645,023 |
| NET CURRENT ASSETS | 1,587,382 | 1,491,108 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
1,781,377 |
1,622,952 |
| CREDITORS |
| Amounts falling due after more than one year |
16 |
(120,273 |
) |
(227,433 |
) |
| PROVISIONS FOR LIABILITIES | 20 | (17,502 | ) | (2,651 | ) |
| NET ASSETS | 1,643,602 | 1,392,868 |
| CAPITAL AND RESERVES |
| Called up share capital | 21 | 7,632 | 7,740 |
| Capital redemption reserve | 22 | 2,368 | 2,260 |
| Retained earnings | 22 | 1,597,121 | 1,359,791 |
| 1,607,121 | 1,369,791 |
| NON-CONTROLLING INTERESTS | 36,481 | 23,077 |
| TOTAL EQUITY | 1,643,602 | 1,392,868 |
| The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by: |
| P J Smyth - Director |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| COMPANY BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 10 |
| Tangible assets | 11 |
| Investments | 12 |
| CURRENT ASSETS |
| Debtors | 14 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 15 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
16 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 20 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 21 |
| Capital redemption reserve | 22 |
| Retained earnings | 22 |
| Company's profit for the financial year | 242,973 | 373,679 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Called up | Capital |
| share | Retained | redemption |
| capital | earnings | reserve |
| £ | £ | £ |
| Balance at 1 October 2022 | 8,724 | 1,272,613 | 1,276 |
| Changes in equity |
| Issue of share capital | (984 | ) | - | - |
| Dividends | - | (196,107 | ) | - |
| Total comprehensive income | - | 283,285 | 984 |
| Balance at 30 September 2023 | 7,740 | 1,359,791 | 2,260 |
| Changes in equity |
| Issue of share capital | (108 | ) | - | - |
| Dividends | - | (208,390 | ) | - |
| Total comprehensive income | - | 445,720 | 108 |
| Balance at 30 September 2024 | 7,632 | 1,597,121 | 2,368 |
| Non-controlling | Total |
| Total | interests | equity |
| £ | £ | £ |
| Balance at 1 October 2022 | 1,282,613 | 47,215 | 1,329,828 |
| Changes in equity |
| Issue of share capital | (984 | ) | - | (984 | ) |
| Dividends | (196,107 | ) | (36,000 | ) | (232,107 | ) |
| Total comprehensive income | 284,269 | 11,862 | 296,131 |
| Balance at 30 September 2023 | 1,369,791 | 23,077 | 1,392,868 |
| Changes in equity |
| Issue of share capital | (108 | ) | - | (108 | ) |
| Dividends | (208,390 | ) | - | (208,390 | ) |
| Total comprehensive income | 445,828 | 13,404 | 459,232 |
| Balance at 30 September 2024 | 1,607,121 | 36,481 | 1,643,602 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| COMPANY STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Called up | Capital |
| share | Retained | redemption | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 October 2022 |
| Changes in equity |
| Issue of share capital | ( |
) | - | - | ( |
) |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2023 |
| Changes in equity |
| Issue of share capital | ( |
) | - | - | ( |
) |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 30 September 2024 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| CONSOLIDATED CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 25 | 1,274,696 | (48,524 | ) |
| Interest paid | (22,322 | ) | (32,634 | ) |
| Interest element of hire purchase payments paid |
(2,896 |
) |
(2,963 |
) |
| Tax paid | (111,885 | ) | (66,922 | ) |
| Net cash from operating activities | 1,137,593 | (151,043 | ) |
| Cash flows from investing activities |
| Purchase of intangible fixed assets | - | (5,000 | ) |
| Purchase of tangible fixed assets | (125,125 | ) | (5,895 | ) |
| Sale of tangible fixed assets | 3,568 | 21,187 |
| Interest received | 30,405 | - |
| Net cash from investing activities | (91,152 | ) | 10,292 |
| Cash flows from financing activities |
| New loans in year | 71,394 | 123,006 |
| Loan repayments in year | (175,095 | ) | (140,984 | ) |
| Capital repayments in year | (28,002 | ) | (40,027 | ) |
| Amount introduced by directors | 16,946 | 13,115 |
| Share buyback | (11,909 | ) | (108,506 | ) |
| Equity dividends paid | (208,390 | ) | (196,107 | ) |
| Net cash from financing activities | (335,056 | ) | (349,503 | ) |
| Increase/(decrease) in cash and cash equivalents | 711,385 | (490,254 | ) |
| Cash and cash equivalents at beginning of year |
26 |
1,518,690 |
2,008,944 |
| Cash and cash equivalents at end of year |
26 |
2,230,075 |
1,518,690 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Bakers of Danbury Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements are prepared on the going concern basis, which assumes the ability of the group to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts. |
| The directors, having considered all the information available, are confident that the group has adequate support for its subsidiary companies and resources thereto to continue its operational activities for the foreseeable future |
| Basis of consolidation |
| The group consolidated financial statements include the financial statements of the company and its active subsidiaries made up to 30 September 2024, and in respect of Collins & Curtis Masonry Limited, its trading up to and including 26 April 2024, when it went into liquidation. All accounting polices as detailed below are applied consistently across the group. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', from the requirement to present its individual company cash flow statement. |
| Significant judgements and estimates |
| In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| Estimates |
| The following estimates have had the most significant effect on amounts recognised in the financial statements. |
| Amounts recoverable on contracts |
| Revenue from amounts recoverable on contracts is based on the completion stage of those contracts, based on the costs incurred to date. The stage of completion is judged by reviewing the costs to date incurred as a percentage of the final expected contract costs. Using this percentage of completion, an adjustment is made to recognise the appropriate revenue at an expected margin. |
| Impairment of debtors |
| The group makes an estimate of the recoverable value of trade and other debtors. When assessing their impairment, the management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
| Revenue from amounts recoverable on contracts is based on the completion stage of those contracts, based on the costs incurred to date. The stage of completion is calculated by comparing actual costs incurred, mainly in relation to labour and materials, as a proportion of total final expected costs and by using this percentage of completion, an adjustment is made for to recognise the appropriate revenue. |
| Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. |
| Revenue from the provision of funeral services is recognised once the rendering of the funeral service is complete. Income received prior to the service is recognised within creditors and only released once the service has taken place. |
| Revenue from the sale of ancillary goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Intangible assets |
| Intangible assets acquired separately from a business are recognised at costs and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. |
| Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably, arises from contractual or other legal rights and is separable from the entity. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stock is stated at the lower of cost and estimated selling price, after making due allowance for obsolete and slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised. |
| Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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. |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or financial leases are capitalised in the balance sheet and are depreciated over their estimated useful lives. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period on a straight line basis. The capital element of the future payment is treated as a liability. |
| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred. |
| Pension costs and other post-retirement benefits |
| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the principal activities of the group. |
| An analysis of turnover by class of business is given below: |
| 2024 | 2023 |
| £ | £ |
| Building and construction | 21,717,615 | 20,485,709 |
| Funeral and memorial | 719,126 | 757,660 |
| 22,436,741 | 21,243,369 |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries | 3,509,238 | 3,616,458 |
| Social security costs | 361,684 | 378,111 |
| Other pension costs | 91,578 | 104,415 |
| 3,962,500 | 4,098,984 |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Administrative staff | 50 | 49 |
| Direct staff | 53 | 57 |
| 2024 | 2023 |
| £ | £ |
| Directors remuneration | 19,680 | 32,066 |
| Directors' pension contributions | 9,603 | 26,069 |
| Information regarding the highest paid Director is as follows: |
| Emoluments etc | 16,663 | 16,767 |
| Pension contributions | 5,360 | 5,360 |
| The directors are also considered to be the key management personnel of the group. |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Depreciation - owned assets | 21,798 | 18,529 |
| Depreciation - assets on hire purchase contracts | 36,622 | 61,364 |
| Loss/(profit) on disposal of fixed assets | 986 | (15,445 | ) |
| Goodwill amortisation | - | 5,000 |
| Auditors' remuneration | 34,162 | 35,350 |
| Operating leases | 205,326 | 201,005 |
| Auditors' remuneration | 34,162 | 35,350 |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2024 | 2023 |
| £ | £ |
| Bank interest | 11,486 | 9,059 |
| Bank loan interest | 2,648 | 5,088 |
| Other loan interest | 8,188 | 18,487 |
| Hire purchase interest | 2,896 | 2,963 |
| 25,218 | 35,597 |
| 7. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Current tax: |
| UK corporation tax | 128,107 | 111,494 |
| Under/(over) provision in |
| prior year | (613 | ) | - |
| Total current tax | 127,494 | 111,494 |
| Deferred tax: |
| Transfer to/(from) deferred |
| tax | 14,851 | (7,293 | ) |
| Tax on profit | 142,345 | 104,201 |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2024 | 2023 |
| £ | £ |
| Profit before tax | 613,378 | 471,854 |
| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 22.010 %) |
153,345 |
103,855 |
| Effects of: |
| Expenses not deductible for tax purposes | (3,125 | ) | 203 |
| Income not taxable for tax purposes | (7,262 | ) | 1,101 |
| Depreciation in excess of capital allowances | - | 175 |
| Adjustments to tax charge in respect of previous periods | (613 | ) | - |
| Marginal rate reliefs | - | (1,133 | ) |
| Total tax charge | 142,345 | 104,201 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 8. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| 9. | DIVIDENDS |
| 2024 | 2023 |
| £ | £ |
| shares of each |
| Interim | 208,390 | 196,107 |
| 10. | INTANGIBLE FIXED ASSETS |
| Group |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 | 5,000 | 3,750 | 8,750 |
| AMORTISATION |
| At 1 October 2023 |
| and 30 September 2024 | 5,000 | - | 5,000 |
| NET BOOK VALUE |
| At 30 September 2024 | - | 3,750 | 3,750 |
| At 30 September 2023 | - | 3,750 | 3,750 |
| Company |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| AMORTISATION |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 11. | TANGIBLE FIXED ASSETS |
| Group |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 October 2023 | 83,901 | 19,025 | 284,137 | 387,063 |
| Additions | 56,896 | - | 68,229 | 125,125 |
| Disposals | (70,445 | ) | (4,250 | ) | (35,129 | ) | (109,824 | ) |
| Reclassification/transfer | 4,124 | (4,124 | ) | - | - |
| At 30 September 2024 | 74,476 | 10,651 | 317,237 | 402,364 |
| DEPRECIATION |
| At 1 October 2023 | 78,456 | 16,558 | 163,955 | 258,969 |
| Charge for year | 2,266 | 1,696 | 54,458 | 58,420 |
| Eliminated on disposal | (70,445 | ) | (4,250 | ) | (30,575 | ) | (105,270 | ) |
| Reclassification/transfer | 3,495 | (3,495 | ) | - | - |
| At 30 September 2024 | 13,772 | 10,509 | 187,838 | 212,119 |
| NET BOOK VALUE |
| At 30 September 2024 | 60,704 | 142 | 129,399 | 190,245 |
| At 30 September 2023 | 5,445 | 2,467 | 120,182 | 128,094 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 October 2023 | 220,314 |
| Transfer to ownership | (107,585 | ) |
| At 30 September 2024 | 112,729 |
| DEPRECIATION |
| At 1 October 2023 | 123,049 |
| Charge for year | 36,622 |
| Transfer to ownership | (64,661 | ) |
| At 30 September 2024 | 95,010 |
| NET BOOK VALUE |
| At 30 September 2024 | 17,719 |
| At 30 September 2023 | 97,265 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 11. | TANGIBLE FIXED ASSETS - continued |
| Company |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 12. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 October 2023 |
| and 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ. |
| Nature of business: |
| % |
| Class of shares: | holding |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 12. | FIXED ASSET INVESTMENTS - continued |
| Registered office: Eves Corner, Little Baddow Road, Danbury, Chelmsford, Essex, CM3 4BQ. |
| Nature of business: |
| % |
| Class of shares: | holding |
| The company entered into a Creditors' Voluntary Liquidation of 26 April 2024. |
| Registered office: Unit 18 Zone D, Chelmsford Road Industrial Estate, Great Dunmow, Essex CM6 1HD |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ. |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ. |
| Nature of business: |
| % |
| Class of shares: | holding |
| 13. | STOCKS |
| Group |
| 2024 | 2023 |
| £ | £ |
| Finished goods | 33,779 | 33,930 |
| Raw materials | - | 14,607 |
| 33,779 | 48,537 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Trade debtors | 2,242,090 | 1,967,875 |
| Amounts recoverable on contracts | 1,805,210 | 1,727,273 |
| Other debtors | 680,804 | 789,754 |
| Amounts due from group undertakings | - | - |
| VAT | - | - |
| Prepayments and accrued income | 97,484 | 84,002 |
| 4,825,588 | 4,568,904 |
| 15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Bank loans and overdrafts (see note 17) | 41,677 | 55,555 |
| Other loans (see note 17) | 124,571 | 118,262 |
| Hire purchase contracts (see note 18) | 11,027 | 28,001 |
| Trade creditors | 2,180,985 | 1,971,300 |
| Amounts owed to group undertakings | - | - |
| Corporation tax | 128,107 | 112,498 |
| Social security and other taxes | 160,275 | 176,413 |
| VAT | 1,119,993 | 825,027 | - | 152,174 |
| Other creditors | 68,645 | 87,763 |
| Directors' current accounts | 200,664 | 183,718 |
| Accruals and deferred income | 1,466,116 | 1,086,486 |
| 5,502,060 | 4,645,023 |
| 16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Bank loans (see note 17) | - | 41,677 |
| Other loans (see note 17) | 120,273 | 174,728 |
| Hire purchase contracts (see note 18) | - | 11,028 |
| Other creditors | - | - |
| 120,273 | 227,433 |
| Company |
| Other loans are unsecured, interest free and are due to be repaid by March 2028. |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 17. | LOANS |
| An analysis of the maturity of loans is given below: |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Amounts falling due within one year or on | demand: |
| Bank loan | 41,677 | 55,555 |
| Other loans | 124,571 | 118,262 |
| 166,248 | 173,817 |
| Amounts falling due between one and two | years: |
| Bank loan | - | 41,677 |
| Other loans - 1-2 years | 45,349 | 109,222 | 30,000 |
| 45,349 | 150,899 |
| Amounts falling due between two and five | years: |
| Other loans - 2-5 years | 74,924 | 65,506 |
| The bank loan contains no security over the assets of the company. Interest is payable at 4.19%. |
| 18. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase contracts |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year | 11,027 | 28,001 |
| Between one and five years | - | 11,028 |
| 11,027 | 39,029 |
| Group |
| Non-cancellable operating | leases |
| 2024 | 2023 |
| £ | £ |
| Within one year | 138,500 | 180,163 |
| Between one and five years | 362,333 | 454,049 |
| In more than five years | 75,744 | 145,661 |
| 576,577 | 779,873 |
| The above relates to properties and vehicles. |
| Company |
| Non-cancellable operating | leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| The above relates to property. |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 19. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts | 11,027 | 39,029 |
| Liabilities under hire purchase are secured against the assets on hire. |
| Other loans are secured against the assets financed with fixed interest rates of 8.9% over the term of the loan. |
| Bank facilities provided by Barclays Bank Plc are secured by a debenture over the assets of the company and group undertakings. |
| 20. | PROVISIONS FOR LIABILITIES |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Deferred tax |
| Accelerated capital allowances | 17,502 | 2,651 | 4,778 | 1,226 |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2023 | 2,651 |
| Charge to Income Statement during year | 14,851 |
| Balance at 30 September 2024 | 17,502 |
| Company |
| Deferred |
| tax |
| £ |
| Balance at 1 October 2023 |
| Provided during year |
| Balance at 30 September 2024 |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 21. | CALLED UP SHARE CAPITAL |
| Group | 2024 | 2023 |
| £ | £ |
| Ordinary A Shares of £1 each | 950 | 950 |
| Ordinary B Shares of £1 each | - | - |
| Ordinary C Shares of £1 each | 5,100 | 5,100 |
| Ordinary D Shares of £1 each | 1,582 | 1,690 |
| 7,632 | 7,740 |
| Company | 2024 | 2023 |
| £ | £ |
| Ordinary A Shares of £1 each | 950 | 950 |
| Ordinary B Shares of £1 each | - | - |
| Ordinary C Shares of £1 each | 5,100 | 5,100 |
| Ordinary D Shares of £1 each | 1,582 | 1,690 |
| 7,632 | 7,740 |
| Ordinary class A to D are management shares, with all classes ranking pari passu. |
| The Directors may at any time resolve to declare a dividend on one or more classes of share and not one or other classes. |
| 22. | RESERVES |
| Group |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 October 2023 | 1,359,791 | 2,260 | 1,362,051 |
| Profit for the year | 457,629 | - | 457,629 |
| Dividends | (208,390 | ) | - | (208,390 | ) |
| Purchase of own shares | (11,909 | ) | 108 | (11,801 | ) |
| At 30 September 2024 | 1,597,121 | 2,368 | 1,599,489 |
| Company |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 October 2023 | 324,349 |
| Profit for the year | - |
| Dividends | ( |
) | - | ( |
) |
| Purchase of own shares | (11,909 | ) | 108 | (11,801 | ) |
| At 30 September 2024 | 347,131 |
| 23. | RELATED PARTY DISCLOSURES |
| At the year end, the directors were owed £200,664 (2023 - £183,718) by the group. The loans are interest free and carry no fixed repayment terms. |
| Dividends paid to directors in the year were £208,390 (2023 - £196,107) |
| 24. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is P J Smyth by virtue of his majority shareholding. |
| BAKERS OF DANBURY LIMITED (REGISTERED NUMBER: 12199448) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 25. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Profit before taxation | 613,378 | 471,854 |
| Depreciation charges | 58,420 | 79,893 |
| Loss/(profit) on disposal of fixed assets | 986 | (15,445 | ) |
| Impairment of goodwill | - | 5,000 |
| Finance costs | 25,218 | 35,597 |
| Finance income | (30,405 | ) | - |
| 667,597 | 576,899 |
| Decrease in stocks | 14,758 | 63,092 |
| (Increase)/decrease in trade and other debtors | (256,684 | ) | 539,558 |
| Increase/(decrease) in trade and other creditors | 849,025 | (1,228,073 | ) |
| Cash generated from operations | 1,274,696 | (48,524 | ) |
| 26. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 30 September 2024 |
| 30.9.24 | 1.10.23 |
| £ | £ |
| Cash and cash equivalents | 2,230,075 | 1,518,690 |
| Year ended 30 September 2023 |
| 30.9.23 | 1.10.22 |
| £ | £ |
| Cash and cash equivalents | 1,518,690 | 2,008,944 |
| 27. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.10.23 | Cash flow | At 30.9.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 1,518,690 | 711,385 | 2,230,075 |
| 1,518,690 | 711,385 | 2,230,075 |
| Debt |
| Finance leases | (39,029 | ) | 28,002 | (11,027 | ) |
| Debts falling due within 1 year | (173,817 | ) | 7,569 | (166,248 | ) |
| Debts falling due after 1 year | (216,405 | ) | 96,132 | (120,273 | ) |
| (429,251 | ) | 131,703 | (297,548 | ) |
| Total | 1,089,439 | 843,088 | 1,932,527 |