Cyprus Bakery Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Cyprus Bakery Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11859006 . The registered office is Southgate Office Village, 286a Chase Road, London, N14 6HF.

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 goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property asset is a Trademark and is measured at cost. It is not amortised to the profit and loss account as usefull life can not be identified.

2.4. 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:

Leasehold	10 years
Plant & Machinery	15% reducing balance method
Motor Vehicles	20% reducing balance method
Fixtures & Fittings	15% reducing balance method

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. 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.

2.7. Taxation

Corporation 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.

...CONTINUED

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Cyprus Bakery Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.7. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 38 (2024: 38)

4. Intangible Assets

	Intellectual Property
	£
Cost
As at 1 September 2024	560

As at 31 August 2025	560

Amortisation
As at 1 September 2024	280
Provided during the period	280

As at 31 August 2025	560

Net Book Value
As at 31 August 2025	-

As at 1 September 2024	280

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 September 2024	40,226	625,941	10,000	108,293	784,460
Additions	6,088	16,500	5,700	9,299	37,587
Disposals	-	-	(4,300 )	-	(4,300 )

As at 31 August 2025	46,314	642,441	11,400	117,592	817,747

Depreciation
As at 1 September 2024	17,919	224,407	4,880	31,102	278,308
Provided during the period	5,307	62,705	1,304	12,974	82,290

As at 31 August 2025	23,226	287,112	6,184	44,076	360,598

...CONTINUED

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Cyprus Bakery Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

Net Book Value
As at 31 August 2025	23,088	355,329	5,216	73,516	457,149

As at 1 September 2024	22,307	401,534	5,120	77,191	506,152

6. Stocks

	2025	2024
	£	£
Finished goods	143,162	74,486

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	115,360	79,260
Prepayments and accrued income	66,633	51,982
Other debtors	289,000	1,114
VAT	27,678	28,702

	498,671	161,058

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	1,305
Trade creditors	135,951	116,423
Bank loans and overdrafts	-	5,556
Corporation tax	148,022	123,785
Other taxes and social security	23,006	27,433
Net wages	44,562	21,433
Other creditors	33,583	71,692
Accruals and deferred income	12,153	13,555
Directors' loan accounts	135,191	37,139

	532,468	418,321

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	-	23,389

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	1,305

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Cyprus Bakery Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

12. Pension Commitments

The company operates a defined contribution pension scheme for the directors and employess. The assets of the scheme are held separately from those of the company in an independently administered fund. During the year the company contributed £9,048.

13. Related Party Transactions

Included in creditors amount falling due within one year is an amount of £134,684 (2024: £37,139) due to Mr Berkan Ahiskal, director of the company. The loan is interest free.

Included in creditors amount falling due within one year is an amount of £507 (2024: £507) due to Mr Levent Ahiskal, director of the company. The loan is interest free.

Included in debtors amount falling due within one year is an amount of £270,000 (2024: £nil) due from a company where Mr Berkan Ahiskal is the common director. The loan is interest free.

The company occupies the leasehold premises and pays annual rental commitment of £60,000 per year to the beneficial owners of the company, who are also the owners of the leasehold property.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		280
Tangible Assets	5		457,149		506,152

			457,149		506,432
CURRENT ASSETS
Stocks	6	143,162		74,486
Debtors	7	498,671		161,058
Cash at bank and in hand		231,683		556,260

		873,516		791,804
Creditors: Amounts Falling Due Within One Year	8	(532,468 )		(418,321 )

NET CURRENT ASSETS (LIABILITIES)			341,048		373,483

TOTAL ASSETS LESS CURRENT LIABILITIES			798,197		879,915

Creditors: Amounts Falling Due After More Than One Year	9		-		(23,389 )

NET ASSETS			798,197		856,526

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			798,097		856,426

SHAREHOLDERS' FUNDS			798,197		856,526