The Bakehouse (Scotland) Limited
Registered number
SC222850
Filleted Accounts
30 September 2024
The Bakehouse (Scotland) Limited
Registered number: SC222850
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 770,021 770,021
Current assets
Debtors 4 26,698 18,725
Cash at bank and in hand 208 80
26,906 18,805
Creditors: amounts falling due within one year 5 (638,864) (535,631)
Net current liabilities (611,958) (516,826)
Total assets less current liabilities 158,063 253,195
Creditors: amounts falling due after more than one year 6 (112,578) (203,015)
Net assets 45,485 50,180
Capital and reserves
Called up share capital 18,000 18,000
Profit and loss account 27,485 32,180
Shareholder's funds 45,485 50,180
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
John McCullagh
Director
Approved by the board on 23 June 2025
The Bakehouse (Scotland) Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements cover the period 1 April 2017 to 30 September 2018. This reflects the extended accounting period following the change of accounting date filed with Companies House to allow the accounting reference date to be coterminus with that of the ultimate parent undertaking. As a result the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statements Presentation paragraph 3.17(d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7;
Revenue Recognition
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. Turnover from the sale of goods is recognised when the the goods are delivered to the customer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% on cost
Plant and machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price after making due allowance for obsolete and slow moving items. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Rentals paid to operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions payable to company's pension scheme are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Freehold Property
£
Cost
At 1 October 2023 791,118
At 30 September 2024 791,118
Depreciation
At 1 October 2023 21,097
At 30 September 2024 21,097
Net book value
At 30 September 2024 770,021
At 30 September 2023 770,021
4 Debtors 2024 2023
£ £
Trade debtors 18,725 18,725
Amounts owed by group undertakings and undertakings in which the company has a participating interest 7,973 -
26,698 18,725
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 52,500 52,500
Trade creditors 16,701 16,701
Amounts owed to group undertakings and undertakings in which the company has a participating interest 566,164 462,930
Other creditors 3,499 3,500
638,864 535,631
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 112,578 203,015
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 255,515 255,515
The bank loan bears interest at a rate of 2.55% over the bank's rate and is repayable over 10 years. The directors consider that the carrying amount of the bank loans approximates to their fair value.
The bank loan is secured by Standard Securities over the freehold property held by the company.
8 Ultimate Parent Company
The immediate parent company is Moncrieffe Holidngs Limited a company incorporated in Scotland, under company number SC620641.
9 Controlling party
The directors are of the opinion that there is no controlling party.
10 Other information
The Bakehouse (Scotland) Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
1a Moncrieffe Road
Chapelhall
Airdrie
North Lanarkshire
ML6 8FS
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