Patton's Bakery Limited 31/03/2025 iXBRL

Company registration number: NI607679

Patton's Bakery Limited

Unaudited filleted financial statements

31 March 2025

Patton's Bakery Limited

Contents

Directors and other information

Accountants report

Balance sheet

Notes to the financial statements

Patton's Bakery Limited

Directors and other information


	Directors	Mr W Patton
		Mrs J Patton


	Company number	NI607679


	Registered office	Unit 2
		Kiltonga Industrial Estate
		Newtownards
		Down
		BT23 4TJ


	Business address	Unit 2
		Kiltonga Industrial Estate
		Newtownards
		Down
		BT23 4TJ


	Accountants	Jones Peters
		Hughes House
		6 Church Street
		Banbridge
		Down
		BT32 4AA




	Bankers	Bank of Ireland
		82a Main Street
		Bangor
		Down
		BT20 4AG

Patton's Bakery Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Patton's Bakery Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Patton's Bakery Limited for the year ended 31 March 2025 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the board of directors of Patton's Bakery Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Patton's Bakery Limited and state those matters that we have agreed to state to the board of directors of Patton's Bakery Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Patton's Bakery Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Patton's Bakery Limited 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 Patton's Bakery Limited. You consider that Patton's Bakery Limited 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 Patton's Bakery Limited. 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.

Jones Peters

Chartered Accountants

Hughes House

6 Church Street

Banbridge

Down

BT32 4AA

20 August 2025

Patton's Bakery Limited

Balance sheet

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	6	-		-
Tangible assets	7	692,405		686,387
		_______		_______
			692,405		686,387

Current assets
Stocks		40,150		23,500
Debtors	8	392,236		393,237
Cash at bank and in hand		253,912		427,067
		_______		_______
		686,298		843,804
Creditors: amounts falling due
within one year	9	( 426,813)		( 480,812)
		_______		_______
Net current assets			259,485		362,992
			_______		_______
Total assets less current liabilities			951,890		1,049,379

Creditors: amounts falling due
after more than one year	10		( 18,599)		( 60,136)

Provisions for liabilities			( 71,786)		( 68,103)

			_______		_______
Net assets			861,505		921,140
			_______		_______

Capital and reserves
Called up share capital			100,000		100,000
Capital redemption reserve			100,000		100,000
Profit and loss account			661,505		721,140
			_______		_______
Shareholders funds			861,505		921,140
			_______		_______

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

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 20 August 2025 , and are signed on behalf of the board by:

Mr W Patton Mrs J Patton

Director Director

Company registration number: NI607679

Patton's Bakery Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 2, Kiltonga Industrial Estate, Newtownards, Down, BT23 4TJ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance Sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 50 (2024: 55 ).

5. Tax on profit/loss

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	8,301	-
Adjustments in respect of previous periods	( 9,644)	-
	_______	_______

Deferred tax:
Origination and reversal of timing differences	3,683	12,111
	_______	_______
Tax on profit/loss	2,340	12,111
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit/loss for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 19.00 % (2024: 19.00%).

	2025	2024
	£	£
Profit/(loss) before taxation	49,705	( 61,728)
	_______	_______

Profit/(loss) multiplied by rate of tax	9,444	( 11,728)
Adjustments in respect of prior periods	( 9,644)	-
Effect of capital allowances and depreciation	( 1,143)	2,579
Utilisation of tax losses	-	9,149
Deferred Tax (Release)/Charge in the year	3,683	12,111
	_______	_______
Tax on profit/loss	2,340	12,111
	_______	_______

6. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	145,469	145,469
	_______	_______
Amortisation
At 1 April 2024 and 31 March 2025	145,469	145,469
	_______	_______
Carrying amount
At 31 March 2025	-	-
	_______	_______
At 31 March 2024	-	-
	_______	_______

7. Tangible assets

	Freehold property	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	405,262	790,035	217,790	1,413,087
Additions	-	71,319	-	71,319
	_______	_______	_______	_______
At 31 March 2025	405,262	861,354	217,790	1,484,406
	_______	_______	_______	_______
Depreciation
At 1 April 2024	-	561,996	164,704	726,700
Charge for the year	-	52,030	13,271	65,301
	_______	_______	_______	_______
At 31 March 2025	-	614,026	177,975	792,001
	_______	_______	_______	_______
Carrying amount
At 31 March 2025	405,262	247,328	39,815	692,405
	_______	_______	_______	_______
At 31 March 2024	405,262	228,039	53,086	686,387
	_______	_______	_______	_______

8. Debtors

	2025	2024
	£	£
Trade debtors	344,043	349,586
Other debtors	48,193	43,651
	_______	_______
	392,236	393,237
	_______	_______

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	48,421	48,504
Trade creditors	338,390	389,259
Social security and other taxes	23,196	24,404
Other creditors	16,806	18,645
	_______	_______
	426,813	480,812
	_______	_______

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	18,599	60,136
	_______	_______

11. Financial instruments

All financial instruments have been recorded at transaction price. There are no other financial instruments other than those included in debtors and liabilities.