IRIS Accounts Production v25.1.3.33 12199448 Board of Directors 30.9.24 1.10.23 30.9.24 30.9.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. true true true false true true false false false false false false false false false false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh121994482023-09-30121994482024-09-30121994482023-10-012024-09-30121994482022-09-30121994482022-10-012023-09-30121994482023-09-3012199448ns15:EnglandWales2023-10-012024-09-3012199448ns14:PoundSterling2023-10-012024-09-3012199448ns10:Director12023-10-012024-09-3012199448ns10:Consolidated2024-09-3012199448ns10:ConsolidatedGroupCompanyAccounts2023-10-012024-09-3012199448ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3012199448ns10:Consolidatedns10:MediumEntities2023-10-012024-09-3012199448ns10:Consolidatedns10:Audited2023-10-012024-09-3012199448ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3012199448ns10:Consolidated2023-10-012024-09-3012199448ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-10-012024-09-3012199448ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-10-012024-09-3012199448ns10:FullAccounts2023-10-012024-09-3012199448ns5:Subsidiary12023-10-012024-09-3012199448ns5:Subsidiary22023-10-012024-09-3012199448ns5:Subsidiary32023-10-012024-09-3012199448ns5:Subsidiary42023-10-012024-09-3012199448ns5:Subsidiary52023-10-012024-09-3012199448ns5:Subsidiary72023-10-012024-09-3012199448ns5:Subsidiary82023-10-012024-09-3012199448ns5:Subsidiary92023-10-012024-09-3012199448ns5:Subsidiary102023-10-012024-09-301219944812023-10-012024-09-3012199448ns10:Director22023-10-012024-09-3012199448ns10:RegisteredOffice2023-10-012024-09-3012199448ns10:Consolidatedns5:ContinuingOperations2023-10-012024-09-3012199448ns10:Consolidatedns5:DiscontinuedOperations2023-10-012024-09-3012199448ns10:Consolidatedns5:ContinuingOperations2022-10-012023-09-3012199448ns10:Consolidatedns5:DiscontinuedOperations2022-10-012023-09-3012199448ns10:Consolidated2022-10-012023-09-3012199448ns5:CurrentFinancialInstruments2024-09-3012199448ns5:CurrentFinancialInstruments2023-09-3012199448ns5:Non-currentFinancialInstruments2024-09-3012199448ns5:Non-currentFinancialInstruments2023-09-3012199448ns5:ShareCapital2024-09-3012199448ns5:ShareCapital2023-09-3012199448ns5:CapitalRedemptionReserve2024-09-3012199448ns5:CapitalRedemptionReserve2023-09-3012199448ns5:RetainedEarningsAccumulatedLosses2024-09-3012199448ns5:RetainedEarningsAccumulatedLosses2023-09-3012199448ns5:ShareCapital2022-09-3012199448ns5:RetainedEarningsAccumulatedLosses2022-09-3012199448ns5:CapitalRedemptionReserve2022-09-3012199448ns5:ShareCapital2022-10-012023-09-3012199448ns5:RetainedEarningsAccumulatedLosses2022-10-012023-09-3012199448ns5:CapitalRedemptionReserve2022-10-012023-09-3012199448ns5:ShareCapital2023-10-012024-09-3012199448ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-3012199448ns5:CapitalRedemptionReserve2023-10-012024-09-3012199448ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3012199448ns5:PlantMachinery2023-10-012024-09-3012199448ns5:FurnitureFittings2023-10-012024-09-3012199448ns5:MotorVehicles2023-10-012024-09-3012199448ns5:NetGoodwill2023-09-3012199448ns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-3012199448ns5:NetGoodwill2024-09-3012199448ns5:PatentsTrademarksLicencesConcessionsSimilar2024-09-3012199448ns5:NetGoodwill2023-09-3012199448ns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-3012199448ns5:PlantMachinery2023-09-3012199448ns5:PlantMachinery2024-09-3012199448ns5:PlantMachinery2023-09-3012199448ns5:CostValuation2023-09-30121994481ns5:Subsidiary12023-10-012024-09-3012199448ns5:Subsidiary232023-10-012024-09-30121994485ns5:Subsidiary32023-10-012024-09-30121994487ns5:Subsidiary42023-10-012024-09-3012199448ns5:Subsidiary592023-10-012024-09-301219944813ns5:Subsidiary72023-10-012024-09-3012199448ns5:Subsidiary8152023-10-012024-09-301219944817ns5:Subsidiary92023-10-012024-09-301219944819ns5:Subsidiary102023-10-012024-09-3012199448ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3012199448ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3012199448ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-09-3012199448ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-09-3012199448ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-09-3012199448ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-3012199448ns5:WithinOneYear2024-09-3012199448ns5:WithinOneYear2023-09-3012199448ns5:BetweenOneFiveYears2024-09-3012199448ns5:BetweenOneFiveYears2023-09-3012199448ns5:MoreThanFiveYears2024-09-3012199448ns5:MoreThanFiveYears2023-09-3012199448ns5:AllPeriods2024-09-3012199448ns5:AllPeriods2023-09-3012199448ns5:DeferredTaxation2023-09-3012199448ns5:DeferredTaxation2023-10-012024-09-3012199448ns5:DeferredTaxation2024-09-3012199448ns5:RetainedEarningsAccumulatedLosses2023-09-3012199448ns5:CapitalRedemptionReserve2023-09-30
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: M H Holland
P J Smyth



REGISTERED OFFICE: Eves Corner
Danbury
Chelmsford
Essex
CM3 4QB



REGISTERED NUMBER: 12199448 (England and Wales)



SENIOR STATUTORY AUDITOR: Lee Daley FCA FCCA



AUDITORS: THP Limited
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:





P J Smyth - Director


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.

M H Holland
P J Smyth

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:





P J Smyth - Director


6 June 2025

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.




Lee Daley FCA FCCA (Senior Statutory Auditor)
for and on behalf of THP Limited
Chartered Accountants
and Statutory Auditors
Unit 4 Mulgrave Chambers
26-28 Mulgrave Road
Sutton
Surrey
SM2 6LE

12 June 2025

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

553,448

(82,415

)

471,033
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

589,848

(222,195

)

367,653
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 3,750 3,750
Tangible assets 11 45,113 4,905
Investments 12 676,256 676,256
725,119 684,911

CURRENT ASSETS
Debtors 14 1,359,437 1,469,292
Cash at bank and in hand 1,515,032 69,984
2,874,469 1,539,276
CREDITORS
Amounts falling due within one year 15 3,145,197 1,776,022
NET CURRENT LIABILITIES (270,728 ) (236,746 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

454,391

448,165

CREDITORS
Amounts falling due after more than one
year

16

(94,850

)

(114,850

)

PROVISIONS FOR LIABILITIES 20 (4,778 ) (1,226 )
NET ASSETS 354,763 332,089

CAPITAL AND RESERVES
Called up share capital 21 7,632 7,740
Capital redemption reserve 22 2,368 2,260
Retained earnings 22 344,763 322,089
354,763 332,089

Company's profit for the financial year 242,973 373,679

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

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)

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 8,724 253,023 1,276 263,023

Changes in equity
Issue of share capital (984 ) - - (984 )
Dividends - (196,107 ) - (196,107 )
Total comprehensive income - 265,173 984 266,157
Balance at 30 September 2023 7,740 322,089 2,260 332,089

Changes in equity
Issue of share capital (108 ) - - (108 )
Dividends - (208,390 ) - (208,390 )
Total comprehensive income - 231,064 108 231,172
Balance at 30 September 2024 7,632 344,763 2,368 354,763

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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

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
103 106

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 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

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 5,895
Additions 41,396
At 30 September 2024 47,291
DEPRECIATION
At 1 October 2023 990
Charge for year 1,188
At 30 September 2024 2,178
NET BOOK VALUE
At 30 September 2024 45,113
At 30 September 2023 4,905

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 676,256
NET BOOK VALUE
At 30 September 2024 676,256
At 30 September 2023 676,256

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Bakers of Danbury Contracts Limited
Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ.
Nature of business: Building Contractors
%
Class of shares: holding
Ordinary 100.00

Bakers of Danbury Heritage Limited
Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ.
Nature of business: Historical building renovation and repair
%
Class of shares: holding
Ordinary 100.00

Bakers Funeral Services Limited
Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ.
Nature of business: Funeral services
%
Class of shares: holding
Ordinary 100.00

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

Collins & Curtis Masonry Limited
Registered office: Eves Corner, Little Baddow Road, Danbury, Chelmsford, Essex, CM3 4BQ.
Nature of business: Stone and monumental masonry
%
Class of shares: holding
Ordinary 100.00

The company entered into a Creditors' Voluntary Liquidation of 26 April 2024.

Pickford Builders Limited
Registered office: Unit 18 Zone D, Chelmsford Road Industrial Estate, Great Dunmow, Essex CM6 1HD
Nature of business: Building contractors
%
Class of shares: holding
Ordinary 90.00

B&S Hardware Limited
Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ.
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

LJ Watts Limited
Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ.
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Metropolitan Masonry Limited
Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ.
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Youngvale Limited
Registered office: Eves Corner, Danbury, Chelmsford, Essex, CM3 4BQ.
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00


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 - 2,374
Amounts due from group undertakings - - 1,269,566 1,415,459
VAT - - 14,150 -
Prepayments and accrued income 97,484 84,002 75,721 51,459
4,825,588 4,568,904 1,359,437 1,469,292

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 30,000 27,500
Hire purchase contracts (see note 18) 11,027 28,001 - -
Trade creditors 2,180,985 1,971,300 26,843 13,435
Amounts owed to group undertakings - - 2,790,362 1,318,875
Corporation tax 128,107 112,498 21,085 4,556
Social security and other taxes 160,275 176,413 7,900 8,111
VAT 1,119,993 825,027 - 152,174
Other creditors 68,645 87,763 1,220 1,042
Directors' current accounts 200,664 183,718 200,664 183,718
Accruals and deferred income 1,466,116 1,086,486 67,123 66,611
5,502,060 4,645,023 3,145,197 1,776,022

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 75,506 95,506
Hire purchase contracts (see note 18) - 11,028 - -
Other creditors - - 19,344 19,344
120,273 227,433 94,850 114,850

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 30,000 27,500
166,248 173,817 30,000 27,500
Amounts falling due between one and two years:
Bank loan - 41,677 - -
Other loans - 1-2 years 45,349 109,222 30,000 30,000
45,349 150,899 30,000 30,000
Amounts falling due between two and five years:
Other loans - 2-5 years 74,924 65,506 45,506 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 55,167 55,167
Between one and five years 220,667 220,667
In more than five years 59,764 114,931
335,598 390,765

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 1,226
Provided during year 3,552
Balance at 30 September 2024 4,778

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 322,089 2,260 324,349
Profit for the year 242,973 - 242,973
Dividends (208,390 ) - (208,390 )
Purchase of own shares (11,909 ) 108 (11,801 )
At 30 September 2024 344,763 2,368 347,131


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