REGISTERED NUMBER: 07406596 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

REAL PATISSERIE (KEMP TOWN) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A D Gourlay

J Gourlay

REGISTERED OFFICE:

Units 11-13

Grange Road Industrial Estate

Southwick

Brighton

West Sussex

BN42 4EN

REGISTERED NUMBER:

07406596 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Tangible assets

3

116,370

119,847

CURRENT ASSETS

Stocks

4

13,273

5,921

Debtors

5

48,740

18,586

Cash at bank and in hand

20,653

33,830

82,666

58,337

CREDITORS

Amounts falling due within one year

6

(179,826

)

(180,493

)

NET CURRENT LIABILITIES

(97,160

)

(122,156

)

TOTAL ASSETS LESS CURRENT LIABILITIES

19,210

(2,309

)

CREDITORS

Amounts falling due after more than one year

7

(13,064

)

(27,684

)

NET ASSETS/(LIABILITIES)

6,146

(29,993

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,046

(30,093

)

6,146

(29,993

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 17 March 2025 and were signed on its behalf by:

J Gourlay - Director

1.	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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

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

Tangible fixed assets

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

Short leasehold

-

Straight Line over 15 years

Leasehold Improvements

-

10% on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

15% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 34 ) .

3.	TANGIBLE FIXED ASSETS

Short

Leasehold

Plant and

Motor

leasehold

Improvements

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

3,610

87,093

232,683

10,950

334,336

Additions

-

-

10,240

16,033

26,273

At 31 December 2024

3,610

87,093

242,923

26,983

360,609

DEPRECIATION

At 1 January 2024

508

56,492

153,628

3,861

214,489

Charge for year

244

2,053

25,516

1,937

29,750

At 31 December 2024

752

58,545

179,144

5,798

244,239

NET BOOK VALUE

At 31 December 2024

2,858

28,548

63,779

21,185

116,370

At 31 December 2023

3,102

30,601

79,055

7,089

119,847

4.

STOCKS

2024

2023

£

£

Stocks

13,273

5,921

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

32,606

185

Other debtors

5,000

5,000

Tax

-

2,746

VAT

-

376

Accrued income

1,605

-

Prepayments

9,529

10,279

48,740

18,586

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,219

9,719

Hire purchase contracts (see note 8)

4,159

8,180

Trade creditors

77,564

99,630

Amounts owed to group undertakings

5,993

18,523

Tax

55,518

19,815

Social security and other taxes

15,611

17,338

VAT

4,992

-

Other creditors

4,603

4,019

Directors' loan accounts

59

418

Accruals and deferred income

1,108

2,851

179,826

180,493

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

10,444

10,220

Bank loans - 2-5 years

887

11,573

Hire purchase contracts (see note 8)

1,733

5,891

13,064

27,684

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Gross obligations repayable:

Within one year

4,989

9,366

Between one and five years

2,079

7,067

7,068

16,433

Finance charges repayable:

Within one year

830

1,186

Between one and five years

346

1,176

1,176

2,362

Net obligations repayable:

Within one year

4,159

8,180

Between one and five years

1,733

5,891

5,892

14,071

Non-cancellable

operating leases

2024

2023

£

£

Within one year

38,500

38,500

Between one and five years

117,000

117,000

In more than five years

101,333

139,833

256,833

295,333

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, J Gourlay decreased his loan to the company. As at 31 December 2024, the company owed him £59 (2023: £418). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

Open Bakery Limited

Open Bakery is a related party of Real Patisserie (Kemp Town) due to Mr J Gourlay (Director) holding 50% shares of Open Bakery.

During the year Open Bakery Limited invoiced Real Patisserie (Kemp Town) Limited £124,277 (2023: £99,515) as a wages recharge and received £7,229 (2023: £9,500) of rent income. The company also lent Open Bakery £5,774 during the year (2023: £6,504) .

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs B Gourlay.

This was by virtue of her 51% holding of the issued share capital.

12.	ACCOUNTING BASIS

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. During the year the company made a profit of £218,257, and as at the year end the current liabilities exceeded current assets by £97,160.

The validity of this basis depends upon the continued support of the company's director. The director confirms that he will give the required support.