REGISTERED NUMBER: SC557119 (Scotland)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

The Pastry Section Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

Ms L Stewart

REGISTERED OFFICE:

29 Brandon Street

Hamilton

ML3 6DA

REGISTERED NUMBER:

SC557119 (Scotland)

ACCOUNTANTS:

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

FIXED ASSETS

Tangible assets

5

28,871

52,739

CURRENT ASSETS

Stocks

4,000

3,500

Debtors

6

2,720

2,312

Cash at bank and in hand

18,702

20,889

25,422

26,701

CREDITORS

Amounts falling due within one year

7

70,682

81,537

NET CURRENT LIABILITIES

(45,260

)

(54,836

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,389

)

(2,097

)

CREDITORS

Amounts falling due after more than one year

8

(3,830

)

(12,614

)

PROVISIONS FOR LIABILITIES

-

(8,901

)

NET LIABILITIES

(20,219

)

(23,612

)

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Capital redemption reserve

10,000

10,000

Retained earnings

(35,219

)

(38,612

)

SHAREHOLDERS' FUNDS

(20,219

)

(23,612

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2025 and were signed by:

Ms L Stewart - Director

1.	STATUTORY INFORMATION

The Pastry Section Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis as the director has undertaken to continue supporting the company through their director's loan account.

Turnover

Turnover is derived from the various pastry goods supplied by the company.

Turnover is measured at the fair value of these goods supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Over the period of lease

Plant and machinery etc

-

25% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and 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 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 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 the income statement on a straight line basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 15 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

8,835

136,490

145,325

DEPRECIATION

At 1 March 2024

6,039

86,547

92,586

Charge for year

884

22,984

23,868

At 28 February 2025

6,923

109,531

116,454

NET BOOK VALUE

At 28 February 2025

1,912

26,959

28,871

At 29 February 2024

2,796

49,943

52,739

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 March 2024

and 28 February 2025

13,000

DEPRECIATION

At 1 March 2024

4,876

Charge for year

3,247

At 28 February 2025

8,123

NET BOOK VALUE

At 28 February 2025

4,877

At 29 February 2024

8,124

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

2,720

2,312

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

6,250

15,000

Hire purchase contracts

2,534

2,534

Trade creditors

23,321

16,448

Taxation and social security

6,010

6,077

Other creditors

32,567

41,478

70,682

81,537

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

6,250

Hire purchase contracts

3,830

6,364

3,830

12,614

9.	RELATED PARTY DISCLOSURES

The company operates a loan account with the director, L Stewart.

During the year, the company repaid loans totalling £8,079 to the director. At the year end, the balance due to the director was £30,149 (2024: £38,227). There are no fixed repayment terms and no interest charged.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Pastry Section Ltd for the year ended 28 February 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of The Pastry Section Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Pastry Section Ltd and state those matters that we have agreed to state to the director of The Pastry Section Ltd in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that The Pastry Section Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Pastry Section Ltd. You consider that The Pastry Section Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Pastry Section Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

15 September 2025