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Registered number:
FOR THE PERIOD ENDED 31 MARCH 2025
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WENZELS THE BAKERS LIMITED
COMPANY INFORMATION
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WENZELS THE BAKERS LIMITED
CONTENTS
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WENZELS THE BAKERS LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 MARCH 2025
The directors present the Strategic Report for the period ended 31 March 2025.
Wenzels the Bakers Limited (“the Company”) is an independent baker established in 1975, operating primarily across North West London and surrounding areas. The principal activity of the Company continues to be the production and retailing of bakery products.
During the year, the Company continued its strategy of controlled expansion, supported by ongoing investment in its central bakery, logistics capability and head office infrastructure. These investments are intended to support both current operations and anticipated future growth. The directors consider that the Company has performed satisfactorily during the year and that the financial position at the year end remains sound with a positive EBIDTA, as reflected in the accompanying financial statements.
The directors recognise that the Company operates in a dynamic and competitive environment and have identified the following principal risks and uncertainties.
Commercial environment The Company is exposed to changes in consumer spending patterns, general economic conditions, cost inflation and levels of footfall across the UK high street. Competitive pressures remain present within the bakery and food-to-go sector. The directors continue to mitigate these risks through disciplined pricing, a focus on product quality and value, and by maintaining a strong and recognisable brand. Online delivery platforms remain an established supplementary revenue stream. Supply chain and people risk The Company’s operations are dependent on the availability and cost of raw materials, reliable logistics, and the recruitment and retention of skilled employees. The directors mitigate these risks through long-standing supplier relationships, diversified sourcing where possible, and ongoing investment in recruitment, training and staff engagement. Regulatory and compliance risk The Company is subject to a range of regulatory requirements including employment law, health and safety legislation, food hygiene standards and taxation. Compliance is monitored through established internal controls, policies and procedures.
The directors monitor performance using a range of financial key performance indicators, including:
- Total turnover - Like-for-like sales performance - Gross margin - Wage costs as a percentage of turnover - Net profit margin
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WENZELS THE BAKERS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
Non-financial indicators monitored by the directors include store numbers, new store openings, customer feedback and internal quality assessments.
In accordance with section 172 of the Companies Act 2006, the directors consider that, during the year ended 31 March 2025, they have acted in good faith to promote the success of the Company for the benefit of its members as a whole.
In carrying out their duties, the directors have had regard to: - the likely long-term consequences of decisions; - the interests of the Company’s employees; - the need to foster the Company’s business relationships with suppliers, customers and others; - the impact of the Company’s operations on the community and the environment; - the desirability of maintaining a reputation for high standards of business conduct; and - the need to act fairly as between members of the Company. Employees The directors recognise that employees are fundamental to the success of the Company. The Company aims to provide a safe and supportive working environment, with appropriate training, development opportunities and reward structures. Suppliers and customers The Company seeks to build and maintain strong relationships with suppliers through open communication and timely settlement of obligations. Customer satisfaction remains central to the Company’s strategy, supported by consistent product quality and service standards. Community and reputation The directors recognise the importance of the UK high street and local communities to the Company’s long-term success. The Company continues to support local employment and charitable initiatives where appropriate. High standards of business conduct The directors remain committed to maintaining appropriate governance arrangements, internal controls and ethical standards in support of sustainable long-term growth.
This report was approved by the board and signed on its behalf.
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WENZELS THE BAKERS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 MARCH 2025
The directors present their report and the financial statements for the period ended 31 March 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the period, after taxation, amounted to £1,827,784 (2024 - profit £2,064,414).
Ordinary interim dividends were paid amounting to £Nil (2024 - £5,115,000).
The directors who served during the period were:
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WENZELS THE BAKERS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
Based on our principle of delivering quality products, at affordable prices with outstanding customer service, we have seen increasing demand for our products in recent years. We plan to meet this demand by opening additional shops and the directors anticipate a further increase in both turnover and operating profit.
Furthermore, to assist with the level of demand created by these additional shops, we are in the process of developing and expanding the bakery.
The Company's policy is to consult and discuss with employees; through management and departmental meetings, matters likely to affect employees' interests.
Matters of concern to employees are given through regular meetings which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the Company's performance.
The Company's current policy concerning the payment of trade creditors is to:
• settle the terms of payment with suppliers when agreeing the terms of each transaction; • ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and • pay in accordance with the Company's contractual and other legal obligations.
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WENZELS THE BAKERS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
The Company's greenhouse gas emissions and energy consumption for the period are:
• Total energy consumption (kWh) calculated across the company from electricity, gas and transport is 9,376,405 kwh (2024: 8,746,448 kwh). • The combined scope one and two carbon emissions for the period was recorded at 1,937 tCO2e (2024: 1,846 tCO2e). • The specific carbon consumption (SCC) for the period is calculated at 0.030 kgCO2e/£k turnover (2024: 0.028 kgCO2e/£k).
The methodology taken to comply with the requirements of reporting follows a number of defined steps, outlined as follows:
• Identify the boundary of compliance (i.e. financial or operational control) • Determine the scope of report (i.e. Scope One, Two, Three) • Identify the assets to be included within the scope (i.e. buildings, vehicles) • Identify a suitable metric for the intensity ratio • Collate the data from all sources • Audit the data sufficiency, relevance and quality • Detail any assumptions or estimations made • Determine steps taken to improve efficiency • Collate into the annual report detail • Obtain sign off from primary contact and board level senior officer The scope for reporting includes the requirements of scope one and two of a carbon footprint as defined under the Green House Gas Protocol Corporate Standard (https://ghgprotocol.org /corporate-standard ). The inclusion in this scope is: Scope One • Imported natural gas • Owned and leased transport (diesel and petrol) Scope Two • Imported electricity Wider sources as defined as scope three are voluntary for reporting under SECR are excluded from reporting. All fuels have been converted from their raw units of measure to kWh using industry standard conversion factors sourced from UK Government Department for Business, Energy and Industrial Strategy (BEIS). There are no assumptions or estimations made.
We have engaged a specialist consultancy firm to manage our approach to the Energy Savings Opportunity Scheme (ESOS III) and will look to implement energy saving measures as a result of the findings.
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WENZELS THE BAKERS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
Details of transactions that have occurred since the balance sheet date can be found in notes 30 and 31.
The auditors, Adler Shine LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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WENZELS THE BAKERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENZELS THE BAKERS LIMITED
We have audited the financial statements of Wenzels The Bakers Limited (the 'Company') for the period ended 31 March 2025, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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WENZELS THE BAKERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENZELS THE BAKERS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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WENZELS THE BAKERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENZELS THE BAKERS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements.
We obtained an understanding in this regard through discussions with management and the application of our cumulative audit knowledge and experience of this sector. The key laws and regulations we considered in this context included the Companies Act 2006 and applicable tax legislation. We considered the nature of the industry and sector, control environment and business performance. We discussed mattered amongst the audit team regarding how and where fraud might occur in the financial statements and the potential indicators of fraud. We address the risk of fraud arising from management override of journals by performing audit procedures which included, but were not limited to, the test of journals, enquiries of management, reviewing accounting estimates for evidence of bias, and evaluation the business rationale of any significant transactions which appeared unusual or outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
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WENZELS THE BAKERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WENZELS THE BAKERS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Aston House
Cornwall Avenue
N3 1LF
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WENZELS THE BAKERS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 MARCH 2025
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WENZELS THE BAKERS LIMITED
REGISTERED NUMBER: 06080714
BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 18 to 38 form part of these financial statements.
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WENZELS THE BAKERS LIMITED
REGISTERED NUMBER: 06080714
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
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WENZELS THE BAKERS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2025
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WENZELS THE BAKERS LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 MARCH 2025
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WENZELS THE BAKERS LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
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WENZELS THE BAKERS LIMITED
ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 31 MARCH 2025
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Wenzels the Bakers Limited is a private company limited by shares registered in England and Wales. Its principal place of business and registered office address is Sunley House, Old's Approach, Watford, WD18 9TB.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The Company's functional and presentational currency is Sterling (£), shown in these financial statements rounded to the nearest £1.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
In preparing the Company's going concern assessment, the directors have prepared detailed financial forecasts and cash flows looking at a period beyond 12 months from the date of the approval of these financial statements. The directors have considered a number of factors in relation to the Company, including financial performance, continued access to borrowing facilities and the ability to continue to operate the Company's secured debt structure within its financial covenants.
The projections indicate that the Company will have sufficient liquidity for at least the next 12 months and it is for this reason the directors have adopted the going concern basis of accounting in the preparation of the financial statements.
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as set out below.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
2.Accounting policies (continued)
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. The key assumptions and other key sources of uncertainty that have a significant effect on the amount recognised in the financial statements are described below: Stock valuation Stock is included at the lower of cost and net realisable value. The directors have reviewed the stock obsolescence policy and are satisfied that stock is fairly valued at the period end. Recoverability of debtors Judgements have been made on the recoverability of trade debtors and the valuation of provisions and the directors are satisfied that the debtors are recoverable. Tangible and intangible fixed assets Judgements have been made in relation to the lives of tangible and intangible assets. In particular, the valuation and the useful economic life and residual values of fixtures and fittings and motor vehicles. The directors have concluded that the asset values and residual values are appropriate.
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 26
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 27
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 28
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
12.Taxation (continued)
There were no factors that may affect future tax charges.
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 30
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 31
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
15.Tangible fixed assets (continued)
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 33
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 34
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 35
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
Page 36
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
26.Share capital (continued)
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £343,606 (2024 - £313,490). Contributions totalling £66,039 (2024 - £62,732) were payable to the fund at the balance sheet date and are included in other creditors.
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WENZELS THE BAKERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
30.Other financial commitments
Since the balance sheet date, the Company has provided a cross guarantee in respect of borrowings by a group company totalling £5,772,000.
At the balance sheet date, amounts owed by directors to the Company totalled £1,813,861 (2024 - £1,043 due to directors). These amounts are interest bearing and repayable on demand.
Since the balance sheet date, these loans have been repaid.
Wenzels Holdings Ltd became the immediate parent company on 31 October 2024.
Mr P Wenzel, a director, remains the ultimate controlling party. The Company's financial statements will be included in the consolidated financial statements of Wenzels Holdings Ltd from the acquisition date. The Wenzels Holdings Ltd financial statements will be the smallest and largest group in which the Company's accounts will be included and these can be obtained from Companies House once filed.
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