BATH_BAKERY_LIMITED - Accounts

BATH BAKERY LIMITED - Company Information

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Company Registration number 05066836 England & Wales

BATH BAKERY LIMITED

Abbreviated Accounts

For the year ended 31 March 2014

BATH BAKERY LIMITED

Financial statements for the year ended 31 March 2014

Contents

Pages

Balance sheet

Notes to the financial statements

2-3

BATH BAKERY LIMITED

Abbreviated balance sheet as at 31 March 2014

2014

2013

Notes

Fixed assets

Intangible assets

34,039

46,854

Tangible assets

114,850

118,003

148,889

164,857

Current assets

Stock

17,490

17,980

Debtors

158,105

113,662

Cash at bank and in hand

111,938

99,582

287,533

231,224

Creditors:

amounts falling due within one year

(351,637)

(340,181)

Net current liabilities

(64,104)

(108,957)

Total assets less current liabilities

84,785

55,900

Provision for liabilities

(13,618)

71,167

55,900

Capital and reserves

Called up share capital

1,000

Profit and loss account

70,167

54,900

Shareholders' funds

71,167

55,900

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the board of directors on 23 December 2014 and signed on its behalf.

__________________________ Mr M Slevin - Director

Company Registration No: 05066836

The notes on pages 2 to 3 form part of these financial statements.

BATH BAKERY LIMITED

Notes to the abbreviated accounts for the year ended 31 March 2014

Accounting policies

Basis of accounting

The financial statements are prepared on the historical cost basis of accounting and have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.

Turnover

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

Depreciation of tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Leasehold property

Over the period of the lease

Motor vehicles

25% on reducing balance

Equipment, fixtures and fittings

15% on reducing balance

Plant and machinery

15% on reducing balance

Goodwill

Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful economic life of 5 years.

Stocks

Stock and work in progress is valued at the lower of cost and estimated net realisable value.

Cost of raw materials is determined on the first in first out basis. In the case of work in progress and finished goods, cost includes all direct expenditure and production overheads based on the normal level of activity. Net realisable value is the price at which the stock can be released in the normal course of business, less further costs to completion of sale.

Deferred taxation

Deferred tax is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on a [discounted\nondiscounted] basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and lease transactions

Rentals under operating leases are charged to the profit and loss account as they fall due.

BATH BAKERY LIMITED

Notes to the abbreviated accounts for the year ended 31 March 2014 (continued)

Fixed assets

Intangible

Tangible

fixed

assets

Total

Cost:

At 1 April 2013

104,071

290,901

394,972

Additions

18,008

At 31 March 2014

104,071

308,909

412,980

Depreciation:

At 1 April 2013

57,217

172,898

230,115

Provision for the year

12,815

21,161

33,976

At 31 March 2014

70,032

194,059

264,091

Net book value:

At 31 March 2014

34,039

114,850

148,889

At 31 March 2013

46,854

118,003

164,857

Called-up share capital

2014

2013

2014

2013

Allotted, called up and fully paid

Equity shares:

Ordinary shares of £1 each

1,000

Controlling party

The company is controlled by Bacalar Limited a company incorporated in Ireland which owns 100% of the called share capital.

Related parties

Description of

Value of transactions

Amount owed From/(to)

transactions

during year

at 31 March 2014

during the year

2014

2013

2014

2013

Loan

25,000

3,000

28,000

3,000

Loan

30,000

3,000

33,000

3,000

Management charge

22,000

30,000

82,000

60,000