Doughlicious Limited
Doughlicious Limited
Registered number: 09325278
Unaudited Financial Statements
For The Year Ended
30 November 2022
CORNEL Accountants Limited
129 Station Road
Amersham
Buckinghamshire
HP7 0AH
Doughlicious Limited
Unaudited Financial Statements
For The Year Ended
30 November 2022
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—6 |
Doughlicious Limited
Balance Sheet
As At
30 November 2022
Balance Sheet
Registered number:
09325278
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
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CURRENT ASSETS | |||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 7 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Creditors: Amounts Falling Due After More Than One Year | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 9 |
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Share premium account |
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Other reserves |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 2,030,557 | 2,116,065 | |||
Doughlicious Limited
Balance Sheet (continued)
As At
30 November 2022
On behalf of the board
Director
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The notes on pages 3 to 6 form part of these financial statements.
Doughlicious Limited
Notes to the Financial Statements
For The Year Ended
30 November 2022
Notes to the Financial Statements
1.
General Information
Doughlicious Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
09325278
. The registered office is Unit 3, Heron Trading Estate, Alliance Road, London, W3 0RA.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
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 |
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Plant & Machinery |
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Fixtures & Fittings |
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Computer Equipment |
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Leasehold improvements are depreciated per the lease length of the contract signed.
2.4.
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.
2.5.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Doughlicious Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2022
2.6.
Taxation
Income 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 year 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.
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 asset reflects 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.
2.7.
Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black Scholes model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
When the terms and conditions of equity-settled share-based payments at the time they were granted are subsequently modified, the fair value of the share-based payment under the original terms and conditions and under the modified terms and conditions are both determined at the date of the modification. Any excess of the modified fair value over the original fair value is recognised over the remaining vesting period in addition to the grant date fair value of the original share-based payment. The share-based payment expense is not adjusted if the modified fair value is less than the original fair value.
Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
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All Employees |
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Doughlicious Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2022
4.
Tangible Assets
Land & Property | |||||
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Leasehold | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
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Cost | |||||
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Additions |
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Disposals |
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Depreciation | |||||
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Provided during the period |
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Disposals |
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As at
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Net Book Value | |||||
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As at
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5.
Stocks
2022 | 2021 | ||
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£ | £ | ||
Stock |
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Finished goods |
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6.
Debtors
2022 | 2021 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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VAT | - |
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Included in other debtors is an amount of £66,078 (2021 : £47,906) in respect of warehouse lease deposits.
Doughlicious Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2022
7.
Creditors: Amounts Falling Due Within One Year
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£ | £ | ||
Trade creditors |
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Bank loans and overdrafts |
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Other taxes and social security |
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VAT |
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Other creditors |
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Accruals and deferred income |
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Directors' loan accounts | - |
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8.
Creditors: Amounts Falling Due After More Than One Year
2022 | 2021 | ||
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£ | £ | ||
Bank loans |
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10.
Related Party Transactions
Included in Creditors is a loan of £NIL (2021 : £49,602) owed to Mrs K Bricken (Director).
11.
Share-based payment transactions
The company operates a share option scheme for the benefit of its employees. Certain employees of the company have been granted options over the ordinary shares in the company. The options are granted with a fixed exercise price, are subject to vesting conditions and are subject to and in accordance with the rules of the company share option plans.
As the company is unable to directly measure the fair value of employee services received, it considers the use of a pricing model such as the Black Scholes Model as being appropriate to determine the fair value of the share options at grant date.
During the period, the company recognised total share based payment expenses of £5,181 (30 November 2021 : £4,277) which related to equity-settled share based payment transactions.
Outstanding number of share options at 1 December 2021 - 805
Number of share options granted in the period to 30 November 2022 - NIL
Number of share options lapsed in the period to 30 November 2022 - 170
Number of share options exercised in the period to 30 November 2022 - NIL
Outstanding number of share options at 30 November 2022 - 635
Of which were exercisable at 30 November 2022 - NIL