St_James_Pastry_Limited_31_Mar_2025_companies_house_set_of

		2025	2024
Fixed assets
Tangible assets	5	79,203		104,355
Current assets
Stocks		25,300		23,000
Debtors	6	1,359,624		1,400,274
Cash at bank and in hand		49,207		79,178
		1,434,131		1,502,452
Creditors: amounts falling due within one year	7	(448,506	)	(331,278	)
Net current assets		985,625		1,171,174
Total assets less current liabilities		1,064,828		1,275,529
Provisions for liabilities		(18,963	)	(25,067	)
Net assets		1,045,865		1,250,462
Capital and reserves
Called up share capital		990		990
Profit and loss account		1,044,875		1,249,472
Shareholders funds		1,045,865		1,250,462

St James Pastry Limited

Notes to the Financial Statements

Year ended

31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

67 Milmead Industrial Centre

Mill Mead Road

London

N17 9QU

, .

The principal activity of the company is the manufacture of filo pastry and related products.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.

The

financial statements

are prepared in sterling, which is the presentation and functional currency of the company.

The following accounting policies have been applied consistently throughout the year.

Judgements and key sources of estimation uncertainty

The company makes certain estimates and assumptions regarding the future. Estimates and judgements are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are discussed below.

- Useful lives of depreciable assets Management reviews the useful lives of depreciable assets at each reporting date to ensure that the useful lives represent a reasonable estimate of likely period of benefit to the Company. Actual useful lives, however, may vary due to unforseen events.

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.

Current tax

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.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when 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 measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount 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. However, the increase is recognised in profit or loss to the extent that 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. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

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

Plant and machinery	25% reducing balance
Fixtures, fittings and equipment	25% reducing balance
Motor vehicles	25% reducing balance

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.

Financial instruments

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

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

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 statement of financial position 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.

Defined contribution pension plan

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.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

62.00

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 April 2024	337,936
Additions	1,250
At 31 March 2025	339,186
Depreciation
At 1 April 2024	233,581
Charge	26,402
At 31 March 2025	259,983
Carrying amount
At 31 March 2025	79,203
At 31 March 2024	104,355

6 Debtors

	2025	2024
	£	£
Trade debtors	444,687	568,547
Amounts owed by group undertakings and undertakings in which the company has a participating interest	890,413	815,281
Other debtors	24,524	16,446
	1,359,624	1,400,274

7 Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	174,408	155,182
Taxation and social security	94,979	67,064
Other creditors	179,119	109,032
	448,506	331,278

8 Related party transactions

The company took the advantage of exemption under section 33.2 of FRS102 not to disclose related party transactions with wholly owned subsidiaries and the parent company.

9 Controlling party

Christopher James Holdings Limited , a company incorporated in England is the ultimate holding company and holds 100% of the issued share capital.

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	79,203		104,355
Current assets
Stocks		25,300		23,000
Debtors	6	1,359,624		1,400,274
Cash at bank and in hand		49,207		79,178
		1,434,131		1,502,452
Creditors: amounts falling due within one year	7	(448,506	)	(331,278	)
Net current assets		985,625		1,171,174
Total assets less current liabilities		1,064,828		1,275,529
Provisions for liabilities		(18,963	)	(25,067	)
Net assets		1,045,865		1,250,462
Capital and reserves
Called up share capital		990		990
Profit and loss account		1,044,875		1,249,472
Shareholders funds		1,045,865		1,250,462