GRANDPA'S BREADS LIMITED - Limited company accounts 18.2

REGISTERED NUMBER: 08316734

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 December 2019

for

GRANDPA'S BREADS LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

Director:

S N Surani

Registered office:

279 Grays Inn Road

Holborn

London

WC1X 8QF

Registered number:

08316734

Accountants:

Andertons Europe Limited

1st Floor

156 Cromwell Road

Kensington

London

SW7 4EF

The director presents his report with the financial statements of the company for the year ended 31 December 2019.

Principal activity

The principal activity of the company in the year under review was that of bakery

Directors

The directors who have held office during the period from 1 January 2019 to the date of this report are

as follows:

M Esposito - resigned 21 June 2019

J Esposito - resigned 21 June 2019

G Esposito - resigned 21 June 2019

S N Surani - appointed 21 June 2019

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

On behalf of the board:

S N Surani - Director

23 November 2020

Turnover

241,534

310,846

Cost of sales

(46,325

)

(72,084

)

Gross profit

195,209

238,762

Distribution costs

(70,222

)

(120,411

)

Administrative expenses

(82,267

)

(94,552

)

Operating profit and

Profit before taxation

42,720

23,799

Tax on profit

-

Profit for the financial year

42,720

23,799

Fixed assets

Tangible assets

5

17,697

23,596

Current assets

Debtors

6

4,532

4,261

Cash at bank and in hand

65,326

63,143

69,858

67,404

Creditors

Amounts falling due within one year

7

114,391

160,557

Net current liabilities

(44,533

)

(93,153

)

Total assets less current liabilities

(26,836

)

(69,557

)

Creditors

Amounts falling due after more than
one year

8

19,209

Net liabilities

(46,045

)

(88,766

)

Capital and reserves

Called up share capital

100

Retained earnings

(46,145

)

(88,866

)

(46,045

)

(88,766

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director on 23 November 2020 and were signed by:

S N Surani - Director

1.	Statutory information

GRANDPA'S BREADS LIMITED is a private company, limited by shares , registered in Not

specified/Other. 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.

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 fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

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 3 (2018 - 4 ) .

4.	Operating profit

The operating profit is stated after charging:

2019

2018

£

Depreciation - owned assets

5,899

7,865

5.	Tangible fixed assets

Plant and

machinery

etc

£

COST

At 1 January 2019

and 31 December 2019

110,516

DEPRECIATION

At 1 January 2019

86,920

Charge for year

5,899

At 31 December 2019

92,819

NET BOOK VALUE

At 31 December 2019

17,697

At 31 December 2018

23,596

6.

Debtors: amounts falling due within one year

2019

2018

£

Trade debtors

4,532

4,261

7.

Creditors: amounts falling due within one year

2019

2018

£

Taxation and social security

20,079

(316

)

Other creditors

94,312

160,873

114,391

160,557

8.

Creditors: amounts falling due after more than one year

2019

2018

£

Trade creditors

19,209