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Registration number: 09456482

Bakers Recovery Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Bakers Recovery Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Bakers Recovery Limited

(Registration number: 09456482)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

403,631

142,584

Current assets

 

Stocks

5

25,748

27,330

Debtors

6

58,917

105,706

Cash at bank and in hand

 

193,580

296,281

 

278,245

429,317

Creditors: Amounts falling due within one year

7

(141,569)

(199,474)

Net current assets

 

136,676

229,843

Total assets less current liabilities

 

540,307

372,427

Creditors: Amounts falling due after more than one year

7

(18,819)

-

Provisions for liabilities

(67,349)

(25,298)

Net assets

 

454,139

347,129

Capital and reserves

 

Called up share capital

400

400

Retained earnings

453,739

346,729

Shareholders' funds

 

454,139

347,129

 

Bakers Recovery Limited

(Registration number: 09456482)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

K J Baker
Director

D D Baker
Director

S A Baker
Director

     
 

Bakers Recovery Limited

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

1

General information

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

The address of its registered office is:
C/o Milsted Langdon LLP
Motivo House
Alvington
Yeovil
Somerset
BA20 2FG
England

These financial statements were authorised for issue by the Board on 27 May 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Summary of significant accounting policies and key accounting estimates

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

Going concern

After reviewing the accounts, the director is confident that the company will be able to pay its debts as they fall due and accordingly has prepared the financial statements on a going concern basis.

Revenue recognition

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

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

Government grants

Government grants are recognised using the accrual model. Where the costs have already been incurred then the grant is credited to the profit and loss account.

 

Bakers Recovery Limited

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

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

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

Asset class

Depreciation method and rate

Improvements to land and buildings

15% straight line

Furniture, fittings and equipment

25% straight line

Plant and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Bakers Recovery Limited

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

Cash and cash equivalents

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

Creditors

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

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

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

Share capital

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

Dividends

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

Defined contribution pension obligation

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

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 26 (2023 - 24).

 

Bakers Recovery Limited

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

4

Tangible assets

Improvements to land and buildings
£

Plant and equipment
£

Furniture, fittings and equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

2,355

31,763

8,588

279,113

321,819

Additions

-

60,702

2,315

259,207

322,224

At 30 September 2024

2,355

92,465

10,903

538,320

644,043

Depreciation

At 1 October 2023

2,355

12,501

5,317

159,063

179,236

Charge for the year

-

7,278

1,791

52,107

61,176

At 30 September 2024

2,355

19,779

7,108

211,170

240,412

Carrying amount

At 30 September 2024

-

72,686

3,795

327,150

403,631

At 30 September 2023

-

19,262

3,272

120,050

142,584

Included within the net book value of improvements to land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

25,748

27,330

 

Bakers Recovery Limited

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

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

56,805

90,379

Amounts owed by related parties

8

81

-

Prepayments

 

1,933

15,327

Income tax asset

98

-

 

58,917

105,706

7

Creditors

Due within one year

Note

2024
£

2023
£

 

Trade creditors

 

59,646

58,196

Amounts due to related parties

8

11,469

12,444

Social security and other taxes

 

31,091

78,457

Other creditors

 

33,771

3,626

Accruals

 

5,592

4,600

Corporation tax liability

-

42,151

 

141,569

199,474

Due after one year

 

Other non-current financial liabilities

 

18,819

-

8

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

12,444

12,444

Advanced

(975)

(975)

At end of period

11,469

11,469

2023

Key management
£

Total
£

At start of period

33,786

33,786

Advanced

2,510

2,510

Repaid

(23,852)

(23,852)

At end of period

12,444

12,444