Honeyrose Bakery Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04041793 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

HONEYROSE BAKERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A P Apodaca

L L W Madsen

J F Mclaughlin

SECRETARY:

D H Godfrey

REGISTERED OFFICE:

Premier House

Disraeli Road

London

NW10 7BT

REGISTERED NUMBER:

04041793 (England and Wales)

ACCOUNTANTS:

LEES

Chartered Certified Accountants

Puerorum House

26 Great Queen Street

London

WC2B 5BL

FIXED ASSETS

Tangible assets

4

1,553,684

1,540,195

Investments

5

-

29,946

1,553,684

1,570,141

CURRENT ASSETS

Stocks

220,159

177,327

Debtors

6

626,883

540,868

Cash at bank and in hand

107,577

87,278

954,619

805,473

CREDITORS

Amounts falling due within one year

7

274,407

234,436

NET CURRENT ASSETS

680,212

571,037

TOTAL ASSETS LESS CURRENT LIABILITIES

2,233,896

2,141,178

CREDITORS

Amounts falling due after more than one year

8

(550,331

)

(602,823

)

PROVISIONS FOR LIABILITIES

(13,607

)

-

NET ASSETS

1,669,958

1,538,355

CAPITAL AND RESERVES

Called up share capital

10

100

100

Share premium

99,662

99,662

Capital redemption reserve

4

4

Retained earnings

1,570,192

1,438,589

SHAREHOLDERS' FUNDS

1,669,958

1,538,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30 September 2019 and were signed on its behalf by:

L L W Madsen - Director

1.	STATUTORY INFORMATION

Honeyrose Bakery Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible assets

Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off

the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the

assets concerned. The principal annual rates used for this purpose are as follows:

Land and buildings

straight line over the term of the lease and 2% on cost

Plant and machinery etc

20% on reducing balance

Depreciation is not provided on assets purchased during the year but not brought into use by the balance sheet

date.

Investment in subsidiary undertakings

Investments in subsidiary undertakings are recorded at cost less any provision for impairment. Impairment

reviews are performed by the company when there has been an indication of potential impairment.

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2017 - 41 ) .

4.	TANGIBLE ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

1,893,163

788,491

2,681,654

Additions

17,583

75,563

93,146

Disposals

-

(356

)

(356

)

At 31 December 2018

1,910,746

863,698

2,774,444

DEPRECIATION

At 1 January 2018

522,913

618,546

1,141,459

Charge for year

37,461

41,896

79,357

Eliminated on disposal

-

(56

)

(56

)

At 31 December 2018

560,374

660,386

1,220,760

NET BOOK VALUE

At 31 December 2018

1,350,372

203,312

1,553,684

At 31 December 2017

1,370,250

169,945

1,540,195

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

44,100

Transfer to ownership

(44,100

)

At 31 December 2018

-

DEPRECIATION

At 1 January 2018

29,664

Charge for year

2,410

Transfer to ownership

(32,074

)

At 31 December 2018

-

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

14,436

5.	INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

29,946

Impairments

(29,946

)

At 31 December 2018

-

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

29,946

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

370,119

290,570

Other debtors

256,764

250,298

626,883

540,868

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

52,444

52,463

Hire purchase contracts

-

6,615

Trade creditors

134,060

78,642

Amounts owed to group undertakings

-

1

Taxation and social security

41,131

44,672

Other creditors

46,772

52,043

274,407

234,436

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

550,331

602,823

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

329,784

386,644

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

602,775

655,286

Hire purchase contracts

-

6,615

602,775

661,901

Bank loans are secured by fixed and floating charges over the freehold premises and other company assets.

Hire purchase contracts are secured on the assets concerned.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Nominal

2018

2017

Number:

Class:

value:

£

£

1,770

Ordinary

£0.01

18

18

8,230

Ordinary A

£0.01

82

82

100

100

11.	PENSION COMMITMENTS

At 31 December 2018, included in other creditors falling due within one year are unpaid contributions of £2

(2017 - £1,249) due to a defined contribution pension scheme.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2018 and

31 December 2017:

2018

2017

£

£

L L W Madsen

Balance outstanding at start of year

104,503

101,825

Amounts advanced

3,419

2,678

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

107,922

104,503

Interest of £2,624 (2017 - £2,678) was charged at HM Revenue and Customs official rate of interest on any

beneficial overdrawn loan account by the company. The above loan is unsecured and repayable on demand.