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Registration number: 12363931

The Bread Room Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

The Bread Room Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

The Bread Room Ltd

Company Information

Director

Mr Alain Guy Gilbert Guerin

Registered office

2 Fleet Street
Torquay
Devon
TQ1 1BX

Accountants

Neil Wilson Accountancy Limited Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

The Bread Room Ltd

(Registration number: 12363931)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

35,566

30,193

Current assets

 

Stocks

5

65

107

Debtors

6

18,156

12,436

Cash at bank and in hand

 

147

451

 

18,368

12,994

Creditors: Amounts falling due within one year

7

(90,822)

(59,590)

Net current liabilities

 

(72,454)

(46,596)

Net liabilities

 

(36,888)

(16,403)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(36,889)

(16,404)

Shareholders' deficit

 

(36,888)

(16,403)

For the financial year ending 31 December 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 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 June 2025
 

.........................................
Mr Alain Guy Gilbert Guerin
Director

 

The Bread Room Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
2 Fleet Street
Torquay
Devon
TQ1 1BX
England

These financial statements were authorised for issue by the director on 16 June 2025.

2

Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis. The director, who mis also one of the largest creditors, has personally guaranteed the debts of the company as at the Balance Sheet date.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

The Bread Room Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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

Plant and Machinery

25% Reducing balance

Furniture and Fittings

25% Reducing balance

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.

Trade 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.

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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Borrowings

 

The Bread Room Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

The Bread Room Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

23,115

1,031

8,534

32,680

Additions

-

150

9,374

9,524

At 31 December 2024

23,115

1,181

17,908

42,204

Depreciation

At 1 January 2024

-

353

2,134

2,487

Charge for the year

-

207

3,944

4,151

At 31 December 2024

-

560

6,078

6,638

Carrying amount

At 31 December 2024

23,115

621

11,830

35,566

At 31 December 2023

23,115

678

6,400

30,193

Included within the net book value of land and buildings above is £23,115 (2023 - £23,115) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Raw materials and consumables

65

107

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,895

2,170

Other debtors

16,261

10,266

 

18,156

12,436

 

The Bread Room Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

53,330

52,446

Trade creditors

 

20,908

3,244

Accruals and deferred income

 

1,480

1,505

Other creditors

 

15,104

2,395

 

90,822

59,590

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordianry of £1 each

1

1

1

1

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

40,943

46,171

Hire purchase contracts

-

6,275

Other borrowings

874

-

41,817

52,446

Out of balance to current Loans and borrowings category

(11,513)

-

 

The Bread Room Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Dividends

11

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Repayments by director
£

Other payments made to company by director
£

At 31 December 2024
£

Mr Alain Guy Gilbert Guerin

Loan to director

(2,395)

(8,771)

(1,854)

(13,020)

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

Mr Alain Guy Gilbert Guerin

Loan to director

8,204

(10,599)

(2,395)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570