Two Magpies Bakery (Holt) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 13216389

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		145,320		189,027

			145,320		189,027
CURRENT ASSETS
Stocks	5	5,910		-
Debtors	6	1,321,413		396,171
Cash at bank and in hand		4,001		10,329

		1,331,324		406,500
Creditors: Amounts Falling Due Within One Year	7	(1,795,827 )		(836,100 )

NET CURRENT ASSETS (LIABILITIES)			(464,503 )		(429,600 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(319,183 )		(240,573 )

NET LIABILITIES			(319,183 )		(240,573 )

CAPITAL AND RESERVES
Called up share capital	8		101		101
Profit and Loss Account			(319,284 )		(240,674 )

SHAREHOLDERS' FUNDS			(319,183)		(240,573)

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Two Magpies Bakery (Holt) 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

27/10/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Two Magpies Bakery (Holt) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13216389 . 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. 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:

Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance

2.4. 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.

2.5. 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.

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: 16 (2024: 24)

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Two Magpies Bakery (Holt) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 February 2024	364,591
Additions	4,897

As at 31 January 2025	369,488

Depreciation
As at 1 February 2024	175,564
Provided during the period	48,604

As at 31 January 2025	224,168

Net Book Value
As at 31 January 2025	145,320

As at 1 February 2024	189,027

5. Stocks

	2025	2024
	£	£
Stock	5,910	-

6. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	1,202,301	303,173
Due after more than one year
Other debtors	119,112	92,998

	1,321,413	396,171

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	19,697	54,335
Other creditors	1,760,593	763,227
Taxation and social security	15,537	18,538

	1,795,827	836,100

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Two Magpies Bakery (Holt) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	101	101

9. Related Party Transactions

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

Amounts owed from entities under common control £1,202,301 (2024: £289,867)

Amounts owed to entities under common control £ 1,759,012.30 (2024: £755,037)

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