U-Bake Limited 31/10/2025 iXBRL

Company registration number: NI034838

U-Bake Limited

Unaudited filleted financial statements

31 October 2025

U-Bake Limited

Contents

Directors and other information

Balance sheet

Notes to the financial statements

U-Bake Limited

Directors and other information


	Director	Mr John McDaid


	Company number	NI034838


	Registered office	Beraghmore Road
		Skeoge Industrial Estate
		Derry
		BT48 8SE


	Accountants	Fergus McAteer & Co.
		31/33 Clarendon Street
		Derry
		BT48 7ER




	Bankers	AIB
		Meadowbank
		Strand Road
		Derry
		BT48 7TN


	Solicitors	MacDermott & McGurk
		12 Clarendon Street
		Derry
		BT48 7ET

U-Bake Limited

Balance sheet

31 October 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	1,380,360		1,435,138
		_______		_______
			1,380,360		1,435,138

Current assets
Stocks	6	60,240		92,952
Debtors	7	1,109,048		1,131,847
Investments	8	1,484,200		1,025,863
Cash at bank and in hand		1,759,368		1,037,680
		_______		_______
		4,412,856		3,288,342
Creditors: amounts falling due
within one year	9	( 735,280)		( 550,104)
		_______		_______
Net current assets			3,677,576		2,738,238
			_______		_______
Total assets less current liabilities			5,057,936		4,173,376

Creditors: amounts falling due
after more than one year	10		( 27,205)		( 25,454)

Provisions for liabilities			( 228,908)		( 239,700)

			_______		_______
Net assets			4,801,823		3,908,222
			_______		_______

Capital and reserves
Called up share capital	11		86,620		86,620
Capital redemption reserve			33,380		33,380
Profit and loss account			4,681,823		3,788,222
			_______		_______
Shareholders funds			4,801,823		3,908,222
			_______		_______

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

Director's 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 director acknowledges 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 and director's report have not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 02 April 2026 , and are signed on behalf of the board by:

Mr John McDaid

Director

Company registration number: NI034838

U-Bake Limited

Notes to the financial statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Beraghmore Road, Skeoge Industrial Estate, Derry, BT48 8SE.

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. Summary of significant 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. 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:


Land and buildings	-	2 %	reducing balance
Plant and machinery	-	10 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	20 %	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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

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. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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.

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. 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. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 46 (2024: 48 ).

5. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 November 2024	649,332	2,543,916	20,956	238,055	3,452,259
Additions	-	55,186	2,960	22,309	80,455
Disposals	-	-	-	( 12,000)	( 12,000)
	_______	_______	_______	_______	_______
At 31 October 2025	649,332	2,599,102	23,916	248,364	3,520,714
	_______	_______	_______	_______	_______
Depreciation
At 1 November 2024	206,803	1,684,225	13,935	112,158	2,017,121
Charge for the year	8,851	89,596	1,771	26,295	126,513
Disposals	-	-	-	( 3,280)	( 3,280)
	_______	_______	_______	_______	_______
At 31 October 2025	215,654	1,773,821	15,706	135,173	2,140,354
	_______	_______	_______	_______	_______
Carrying amount
At 31 October 2025	433,678	825,281	8,210	113,191	1,380,360
	_______	_______	_______	_______	_______
At 31 October 2024	442,529	859,691	7,021	125,897	1,435,138
	_______	_______	_______	_______	_______

6. Stocks

	2025	2024
	£	£
Raw materials and consumables	32,063	42,202
Finished goods and goods for resale	28,177	50,750
	_______	_______
	60,240	92,952
	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	613,603	603,055
Other debtors	495,445	528,792
	_______	_______
	1,109,048	1,131,847
	_______	_______

8. Investments

	2025	2024
	£	£
Other investments	1,484,200	1,025,863
	_______	_______

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	347,889	293,470
Corporation tax	323,121	248,669
Social security and other taxes	12,906	-
Other creditors	51,364	7,965
	_______	_______
	735,280	550,104
	_______	_______

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

	2025	2024
	£	£
Other creditors	27,205	25,454
	_______	_______

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	86,620	86,620	86,620	86,620
	_______	_______	_______	_______

12. Contingent assets and liabilities

There is a contingent liability to repay certain government grants under the terms of offer from Invest Northern Ireland if the company fails to achieve and maintain specific conditions. In the opinion of the directors the terms of offer have been complied with and no loss is expected.

13. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Amounts repaid	Balance o/standing
		£	£	£
	Mr John McDaid	58,640	( 58,640)	-
		_______	_______	_______

2024
		Balance brought forward	Amounts repaid	Balance o/standing
		£	£	£
	Mr John McDaid	93,640	( 35,000)	58,640
		_______	_______	_______

14. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Related party	( 58,640)	( 35,000)	-	58,640
	_______	_______	_______	_______

The related party is a director of the company.

15. Controlling party

At 31 October 2025 Mr John McDaid is the ultimate controlling party of the company.