Bakery Solutions Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: 04585498 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

BAKERY SOLUTIONS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G M Edwards

Mr M H Cook

SECRETARY:

Mr M H Cook

REGISTERED OFFICE:

12 Victoria Road

Barnsley

S70 2BB

REGISTERED NUMBER:

04585498 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

BANKERS:

Lloyds Bank Plc

1 Claremont Road

Surbiton

KT6 4QS

CURRENT ASSETS

Stocks

-

7,769

Debtors

6

78,732

77,886

Cash at bank

10,795

9,674

89,527

95,329

CREDITORS

Amounts falling due within one year

7

57,333

71,233

NET CURRENT ASSETS

32,194

24,096

TOTAL ASSETS LESS CURRENT LIABILITIES

32,194

24,096

CREDITORS

Amounts falling due after more than one
year

8

30,684

35,534

NET ASSETS/(LIABILITIES)

1,510

(11,438

)

CAPITAL AND RESERVES

Called up share capital

9

50

Retained earnings

1,460

(11,488

)

SHAREHOLDERS' FUNDS

1,510

(11,438

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 1st May 2025 and were signed on its behalf by:

Mr M H Cook - Director

1.	STATUTORY INFORMATION

Bakery Solutions Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of bakery machinery is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the delivery and installation of the goods.

Goodwill

Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Revenue grants

Grants which are received for compensation for expenses or losses which have already been incurred are recognisable in income when the grant is received or receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

1,500

AMORTISATION

At 1st January 2024

and 31st December 2024

1,500

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st January 2024

and 31st December 2024

1,282

DEPRECIATION

At 1st January 2024

and 31st December 2024

1,282

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

6.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

57,474

24,413

Other debtors

7,066

-

Other loans

63

Directors' current accounts

-

39,281

64,603

63,757

2024

2023

£

Amounts falling due after more than one year:

Other debtors

14,129

Aggregate amounts

78,732

77,886

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

6,991

36,337

Other loans

5,250

Trade creditors

12,926

16,356

Corporation tax

7,000

-

Social security and other taxes

756

354

VAT

10,014

9,586

Other creditors

10,653

-

Directors' current accounts

343

-

Accruals and deferred income

3,400

3,350

57,333

71,233

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans - 1-2 years

6,991

Bank loans - 2-5 years

20,972

Bank loans more 5 yr by instal

2,721

7,571

30,684

35,534

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,721

7,571

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

50

Ordinary

£1

50

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2024 and 31st December 2023:

2024

2023

£

Mr M H Cook

Balance outstanding at start of year

19,515

28,227

Amounts repaid

(19,812

)

(8,712

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(297

)

19,515

Mr G M Edwards

Balance outstanding at start of year

19,765

28,477

Amounts repaid

(19,812

)

(8,712

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(47

)

19,765

11.	RELATED PARTY DISCLOSURES

Entity under common control:

31.12.24

31.12.23

£

Loans from related parties

7,305

1,440

Loans repaid to related parties

6,370

4,059

Amounts due to related parties written off

935

14,115