Modern Baker Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 08474270 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

FOR

MODERN BAKER LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Miss M C Sharp

L W D Campbell

REGISTERED OFFICE:

214a Banbury Road

Oxford

Oxfordshire

OX2 7BY

REGISTERED NUMBER:

08474270 (England and Wales)

ACCOUNTANTS:

Logan & Brewerton

Chartered Certified Accountants

Astral House

Granville Way

Bicester

Oxfordshire

OX26 4JT

FIXED ASSETS

Intangible assets

2

53,723

-

Tangible assets

3

107,199

-

160,922

-

CURRENT ASSETS

Stocks

10,787

-

Debtors

13,000

-

Cash at bank and in hand

3,327

100

27,114

100

CREDITORS

Amounts falling due within one year

106,993

-

NET CURRENT (LIABILITIES)/ASSETS

(79,879

)

100

TOTAL ASSETS LESS CURRENT LIABILITIES

81,043

100

CAPITAL AND RESERVES

Called up share capital

4

334

100

Share premium

99,766

-

Profit and loss account

(19,057

)

-

SHAREHOLDERS' FUNDS

81,043

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 23 December 2015 and were signed on its behalf by:

L W D Campbell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Intangible assets

No Amortisation is being provided in respect of Research & Development costs for this year, due to the fact that the

company is still in the process of undertaking significant research and development on its product base. Further

details are given at Note 4.

Tangible fixed assets

Depreciation is provided as follows in order to write off each asset over its estimated useful life, having regard to the

points noted below:

Improvements to Property - No amortisation is being charged in the first year of the company's operation. With effect

from 1 April 2015, Improvements to Property will be amortised over the remaining years of the company's lease.

Plant & Machinery - Depreciation is being charged at variable rates on items of Plant & Machinery having regard to

the particular item concerned and its usage.

Fixtures & Fittings - Depreciation is being charged at variable rates on items of Fixtures & Fittings having regard to

the particular item concerned and its usage.

Office Equipment - Depreciation is being charged at variable rates on items of Office Equipment having regard to

the particular item concerned and its usage.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

53,723

At 31 March 2015

53,723

NET BOOK VALUE

At 31 March 2015

53,723

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

119,336

At 31 March 2015

119,336

DEPRECIATION

Charge for year

12,137

At 31 March 2015

12,137

NET BOOK VALUE

At 31 March 2015

107,199

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

13,734

Ordinary

0.024

3

334

100

9,614 Ordinary shares of 0.0243 each were allotted as fully paid at a premium of £10.377 per share during the year.

5.	ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is Mr L W D Campbell by virtue of his shareholding in the company.