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Company No: 13629011 (England and Wales)

GLUTEN FREE BAKERS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

GLUTEN FREE BAKERS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

GLUTEN FREE BAKERS LTD

BALANCE SHEET

As at 30 September 2024
GLUTEN FREE BAKERS LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 19,513 22,793
Tangible assets 4 111,397 86,188
130,910 108,981
Current assets
Stocks 61,859 50,868
Debtors 5 72,141 49,244
Cash at bank and in hand 50,587 32,692
184,587 132,804
Creditors: amounts falling due within one year 6 ( 225,455) ( 105,866)
Net current (liabilities)/assets (40,868) 26,938
Total assets less current liabilities 90,042 135,919
Creditors: amounts falling due after more than one year 7 ( 275,667) ( 265,248)
Provision for liabilities ( 25,000) ( 8,425)
Net liabilities ( 210,625) ( 137,754)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 210,725 ) ( 137,854 )
Total shareholder's deficit ( 210,625) ( 137,754)

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.

Director's responsibilities:

The financial statements of Gluten Free Bakers Ltd (registered number: 13629011) were approved and authorised for issue by the Director on 24 July 2025. They were signed on its behalf by:

Mr S Bryon Edmond
Director
GLUTEN FREE BAKERS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
GLUTEN FREE BAKERS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gluten Free Bakers Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4-8 Finnimore Industrial Estate, Ottery St. Mary, EX11 1NR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The balance sheet shows a deficiency of assets totalling £229,630. The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for at least one year from the date of approval of the accounts. This depends on the continued financial support of the parent company.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 14 9

3. Intangible assets

Development costs Total
£ £
Cost
At 01 October 2023 31,589 31,589
Additions 3,185 3,185
At 30 September 2024 34,774 34,774
Accumulated amortisation
At 01 October 2023 8,796 8,796
Charge for the financial year 6,465 6,465
At 30 September 2024 15,261 15,261
Net book value
At 30 September 2024 19,513 19,513
At 30 September 2023 22,793 22,793

4. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 October 2023 88,880 5,333 4,972 99,185
Additions 36,403 455 140 36,998
At 30 September 2024 125,283 5,788 5,112 136,183
Accumulated depreciation
At 01 October 2023 12,041 487 469 12,997
Charge for the financial year 9,755 1,048 986 11,789
At 30 September 2024 21,796 1,535 1,455 24,786
Net book value
At 30 September 2024 103,487 4,253 3,657 111,397
At 30 September 2023 76,839 4,846 4,503 86,188

5. Debtors

2024 2023
£ £
Trade debtors 47,711 30,976
Prepayments and accrued income 12,735 11,568
VAT recoverable 4,995 0
Other debtors 6,700 6,700
72,141 49,244

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 58,830 43,992
Other loans 68,395 0
Accruals 63,844 38,005
Other taxation and social security 3,272 352
Other creditors 31,114 23,517
225,455 105,866

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to Group undertakings 275,667 196,853
Other loans 0 68,395
275,667 265,248

There are no amounts included above in respect ofwhich any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each (2023: 85 shares of £ 1.00 each) 100 85
Nil Ordinary B shares (2023: 15 shares of £ 1.00 each) 0 15
100 100

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 0 24,700

10. Related party transactions

Other related party transactions

2024 2023
£ £
Loan due to parent undertaking 275,667 196,853

No interest has been charged on this balance and there are no fixed dates for repayment.