Own Bake Limited 30/09/2017 iXBRL
Own Bake Limited 30/09/2017 iXBRL
Company registration number:
4851781
Unaudited filleted financial statements
Contents
Balance sheet
Notes to the financial statements
Balance sheet
30 September 2017
2017 | 2016 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 7 |
(
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(
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_______ | _______ | ||||||||
Net current liabilities |
(
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(
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_______ | _______ | ||||||||
Total assets less current liabilities |
(
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_______ | _______ | ||||||||
Net (liabilities)/assets |
(
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital | 8 |
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Profit and loss account |
(
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_______ | _______ | ||||||||
Shareholders (deficit)/funds |
(
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_______ | _______ | ||||||||
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the Profit and loss has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 June 2018
, and are signed on behalf of the board by:
..........................................
..........................................
Director
Director
Company registration number:
4851781
Notes to the financial statements
Year ended 30 September 2017
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Own Bake Ltd, 84 West Street, Bargoed, Mid Glamorgan, CF81 8SB.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment | - |
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Motor vehicles | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
Stocks
Financial instruments
4.
Staff costs
The average number of persons employed by the company during the year amounted to
5
(2016:
5
).
5.
Tangible assets
Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 October 2016 and 30 September 2017 |
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_______ | _______ | _______ | ||
Depreciation | ||||
At 1 October 2016 |
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Charge for the year |
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_______ | _______ | _______ | ||
At 30 September 2017 |
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_______ | _______ | _______ | ||
Carrying amount | ||||
At 30 September 2017 |
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_______ | _______ | _______ | ||
At 30 September 2016 |
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_______ | _______ | _______ | ||
6.
Debtors
2017 | 2016 | |||
£ | £ | |||
Other debtors |
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_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2017 | 2016 | |||
£ | £ | |||
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
8.
Called up share capital
Issued, called up and fully paid
2017 | 2016 | ||||||||
No | £ | No | £ | ||||||
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2 | 2 | 2 | 2 | |||||
_______ | _______ | _______ | _______ | ||||||
9.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | ||||
2017 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
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_______ | _______ | _______ | ||
2016 | ||||
Balance brought forward | Advances /(credits) to the directors | Balance o/standing | ||
£ | £ | £ | ||
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- |
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_______ | _______ | _______ | ||
10.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.