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 |
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|
1 |
Accounting policies |
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Basis of preparation |
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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). |
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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 |
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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": |
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- the requirements of Section 7 Statement of Cash Flows; |
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- the requirements of Section 3 Financial Statements Presentation paragraph 3.17(d); |
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- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48; |
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- the requirements of Section 33 Related Party Disclosures paragraph 33.7; |
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Revenue Recognition |
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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. |
|
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
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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 |
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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. |
|
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Debtors |
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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. |
|
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Creditors |
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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. |
|
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Taxation |
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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. |
|
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Provisions |
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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. |
|
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Leased assets |
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Rentals paid to operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
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Pensions |
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The company operates a defined contribution pension scheme. Contributions payable to company's pension scheme are expensed in the period to which they relate. |
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|
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 |
|
|
|
|
|
|
|
|
|
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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. |
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The bank loan is secured by Standard Securities over the freehold property held by the company. |
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|
8 |
Ultimate Parent Company |
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The immediate parent company is Moncrieffe Holidngs Limited a company incorporated in Scotland, under company number SC620641. |
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|
9 |
Controlling party |
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The directors are of the opinion that there is no controlling party. |
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|
10 |
Other information |
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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 |