Company Registration No. 00859279 (England and Wales)
BERTWISTLES (BAKERS) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
BERTWISTLES (BAKERS) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BERTWISTLES (BAKERS) LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
71,529
76,597
Current assets
Stocks
5,733
5,722
Debtors
4
26,660
31,223
Cash at bank and in hand
36,949
28,109
69,342
65,054
Creditors: amounts falling due within one year
5
(47,183)
(36,361)
Net current assets
22,159
28,693
Total assets less current liabilities
93,688
105,290
Creditors: amounts falling due after more than one year
6
(32,940)
(34,666)
Provisions for liabilities
(4,400)
(4,900)
Net assets
56,348
65,724
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
55,348
64,724
Total equity
56,348
65,724
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BERTWISTLES (BAKERS) LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2019
30 September 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 March 2020 and are signed on its behalf by:
Mr RJW McKenna
Director
Company Registration No. 00859279
BERTWISTLES (BAKERS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 3 -
1
Accounting policies
Company information
Bertwistles (Bakers) Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5 - 9 Central Buildings, Padiham, Burnley, Lancashire, BB12 8NB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings
4% per annum straight line
Fixtures, fittings and equipment
15% per annum reducing balance
Motor vehicles
25% per annum reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
BERTWISTLES (BAKERS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 17 (2018 - 16).
3
Tangible fixed assets
Land and buildings
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2018
63,660
143,874
19,173
226,707
Additions
-
2,296
-
2,296
At 30 September 2019
63,660
146,170
19,173
229,003
Depreciation and impairment
At 1 October 2018
12,730
126,601
10,779
150,110
Depreciation charged in the year
2,546
2,719
2,099
7,364
At 30 September 2019
15,276
129,320
12,878
157,474
Carrying amount
At 30 September 2019
48,384
16,850
6,295
71,529
At 30 September 2018
50,930
17,273
8,394
76,597
BERTWISTLES (BAKERS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 5 -
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
22,533
23,963
Other debtors
4,127
7,260
26,660
31,223
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans (secured)
3,078
2,881
Trade creditors
12,113
8,755
Taxation and social security
6,405
7,641
Other creditors
25,587
17,084
47,183
36,361
6
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans (secured)
32,940
34,666