Acorah Software Products - Accounts Production 16.3.350 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 06872890 Mr Andrew Murray iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06872890 2023-06-30 06872890 2024-06-30 06872890 2023-07-01 2024-06-30 06872890 frs-core:CurrentFinancialInstruments 2024-06-30 06872890 frs-core:Non-currentFinancialInstruments 2024-06-30 06872890 frs-core:FurnitureFittings 2024-06-30 06872890 frs-core:FurnitureFittings 2023-07-01 2024-06-30 06872890 frs-core:FurnitureFittings 2023-06-30 06872890 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 06872890 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 06872890 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 06872890 frs-core:PlantMachinery 2024-06-30 06872890 frs-core:PlantMachinery 2023-07-01 2024-06-30 06872890 frs-core:PlantMachinery 2023-06-30 06872890 frs-core:SharePremium 2024-06-30 06872890 frs-core:ShareCapital 2024-06-30 06872890 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 06872890 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06872890 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 06872890 frs-bus:SmallEntities 2023-07-01 2024-06-30 06872890 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06872890 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06872890 frs-bus:Director1 2023-07-01 2024-06-30 06872890 frs-core:CurrentFinancialInstruments 1 2024-06-30 06872890 frs-countries:EnglandWales 2023-07-01 2024-06-30 06872890 2022-06-30 06872890 2023-06-30 06872890 2022-07-01 2023-06-30 06872890 frs-core:CurrentFinancialInstruments 2023-06-30 06872890 frs-core:Non-currentFinancialInstruments 2023-06-30 06872890 frs-core:SharePremium 2023-06-30 06872890 frs-core:ShareCapital 2023-06-30 06872890 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 06872890 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: 06872890
I.P. Bakery Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06872890
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 479,677 292,465
479,677 292,465
CURRENT ASSETS
Stocks 5 149,001 88,580
Debtors 6 259,682 614,254
Cash at bank and in hand 58,809 176,595
467,492 879,429
Creditors: Amounts Falling Due Within One Year 7 (866,121 ) (833,391 )
NET CURRENT ASSETS (LIABILITIES) (398,629 ) 46,038
TOTAL ASSETS LESS CURRENT LIABILITIES 81,048 338,503
Creditors: Amounts Falling Due After More Than One Year 8 (27,233 ) (41,111 )
NET ASSETS 53,815 297,392
CAPITAL AND RESERVES
Called up share capital 9 856 636
Share premium account 1,649,999 1,519,464
Profit and Loss Account (1,597,040 ) (1,222,708 )
SHAREHOLDERS' FUNDS 53,815 297,392
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Murray
Director
23/06/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
I.P. Bakery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06872890 . The registered office is 160 Dukes Road, London, W3 0SL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate as the directors believe the shareholders will continue to support the business moving forward.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 8% Straight Line
Plant & Machinery 10% Straight Line
Fixtures & Fittings 25% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company 
becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a 
net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially 
measured at transaction price including transaction costs and are subsequently carried at amortised cost 
using the effective interest method unless the arrangement constitutes a financing transaction, where the 
transaction is measured at the present value of the future receipts discounted at a market rate of interest. 
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual 
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the 
assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables that are classified as debt, are initially recognised 
at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is 
measured at the present value of the future payments discounted at a market rate of interest. Financial 
liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of 
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year 
or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at 
transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. 
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion 
of the company
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 26)
28 26
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 July 2023 522,244 544,321 14,353 1,080,918
Additions - 275,386 - 275,386
As at 30 June 2024 522,244 819,707 14,353 1,356,304
Depreciation
As at 1 July 2023 280,942 503,921 3,590 788,453
Provided during the period 30,295 54,842 3,037 88,174
As at 30 June 2024 311,237 558,763 6,627 876,627
Net Book Value
As at 30 June 2024 211,007 260,944 7,726 479,677
As at 1 July 2023 241,302 40,400 10,763 292,465
5. Stocks
2024 2023
£ £
Stock 149,001 88,580
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 179,107 209,753
Prepayments and accrued income 23,327 106,722
Other debtors 41,217 290,981
VAT 16,031 6,798
259,682 614,254
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,611 4,715
Trade creditors 352,655 266,822
Bank loans and overdrafts 6,180 15,923
Other taxes and social security 58,467 51,385
Other creditors 6,885 102,222
Shareholder Loan 367,323 216,404
Accruals and deferred income 5,000 105,166
Director's loan account 56,000 70,754
866,121 833,391
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 7,799
Bank loans 27,233 33,312
27,233 41,111
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 856 636
Page 6