Two Magpies Bakery Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 08142430

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		28,492		37,392
Tangible Assets	5		795,409		828,798
Investments	6		45,000		-

			868,901		866,190
CURRENT ASSETS
Stocks	7	194,673		227,191
Debtors	8	4,223,706		3,176,380
Cash at bank and in hand		23,556		126,649

		4,441,935		3,530,220
Creditors: Amounts Falling Due Within One Year	9	(5,320,789 )		(3,990,295 )

NET CURRENT ASSETS (LIABILITIES)			(878,854 )		(460,075 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(9,953 )		406,115

Creditors: Amounts Falling Due After More Than One Year	10		(139,307 )		(326,515 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(153,269 )		(87,199 )

NET LIABILITIES			(302,529 )		(7,599 )

CAPITAL AND RESERVES
Called up share capital	11		201		201
Capital redemption reserve			10		10
Profit and Loss Account			(302,740 )		(7,810 )

SHAREHOLDERS' FUNDS			(302,529)		(7,599)

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Two Magpies Bakery Limited

Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Stephen Magnall

Director

16/10/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Two Magpies Bakery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08142430 . The registered office is 27 Market Hill, Framlingham, Woodbridge, IP13 9AN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of food, beverages, and bakery items sold directly to customers.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Over 25 years
Leasehold	Over 25 years
Plant & Machinery	15% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	20% reducing balance
Computer Equipment	20% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

...CONTINUED

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Two Magpies Bakery Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.6. Taxation - continued

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 104 (2024: 104)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 February 2024	89,000

As at 31 January 2025	89,000

Amortisation
As at 1 February 2024	51,608
Provided during the period	8,900

As at 31 January 2025	60,508

Net Book Value
As at 31 January 2025	28,492

As at 1 February 2024	37,392

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 February 2024	566,663	187,968	44,550	638,028
Additions	-	48,376	-	27,368

As at 31 January 2025	566,663	236,344	44,550	665,396

Depreciation
As at 1 February 2024	145,793	109,985	25,384	349,001
Provided during the period	22,505	18,954	4,792	63,279

As at 31 January 2025	168,298	128,939	30,176	412,280

...CONTINUED

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Two Magpies Bakery Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

Net Book Value
As at 31 January 2025	398,365	107,405	14,374	253,116

As at 1 February 2024	420,870	77,983	19,166	289,027


	Computer Equipment	Total
	£	£
Cost
As at 1 February 2024	36,068	1,473,277
Additions	5,934	81,678

As at 31 January 2025	42,002	1,554,955

Depreciation
As at 1 February 2024	14,316	644,479
Provided during the period	5,537	115,067

As at 31 January 2025	19,853	759,546

Net Book Value
As at 31 January 2025	22,149	795,409

As at 1 February 2024	21,752	828,798

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 February 2024	-
Additions	45,000

As at 31 January 2025	45,000

Provision
As at 1 February 2024	-

As at 31 January 2025	-

Net Book Value
As at 31 January 2025	45,000

As at 1 February 2024	-

7. Stocks

	2025	2024
	£	£
Stock	194,673	227,191

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Two Magpies Bakery Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

8. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	(380 )	551
Other debtors	4,224,086	3,175,829

	4,223,706	3,176,380

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	171,927	199,766
Bank loans and overdrafts	87,817	637,406
Other creditors	4,981,327	3,072,892
Taxation and social security	79,718	80,231

	5,320,789	3,990,295

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	139,307	326,515

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	201	201

12. Related Party Transactions

The following interest free loan balances were outstanding at year end:

Amounts owed from entities under common control £4,125,959 (2024: £2,974,565)

Amounts owed to entities under common control £4,050,344 (2024: £2,614,579)

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