Company Registration No. 00859279 (England and Wales)
BERTWISTLES (BAKERS) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
BERTWISTLES (BAKERS) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BERTWISTLES (BAKERS) LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2021
30 September 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
62,106
68,989
Current assets
Stocks
6,753
6,011
Debtors
4
24,395
20,813
Cash at bank and in hand
55,254
43,281
86,402
70,105
Creditors: amounts falling due within one year
5
(49,023)
(51,109)
Net current assets
37,379
18,996
Total assets less current liabilities
99,485
87,985
Creditors: amounts falling due after more than one year
6
(26,411)
(29,889)
Provisions for liabilities
(3,600)
(4,400)
Net assets
69,474
53,696
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
68,474
52,696
Total equity
69,474
53,696
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 2021 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 2021
30 September 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 June 2022 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 2021
- 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, United Kingdom, 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
Going concern
The director
s
ha
ve
considered the financial stability of the company, while taking into account the impact of
COVID-19, for a period of at least 12 months from the date of signing these accounts.
The director
s
ha
ve
a reasonable expectation that the company has adequate resources to continue in
operational existence for the foreseeable future. Thus the director
s
continue to adopt the going concern
basis of accounting in preparing the financial statements.
1.3
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.
1.4
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
.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.6
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.
BERTWISTLES (BAKERS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
1
Accounting policies
(Continued)
- 4 -
1.7
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
1.9
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.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
BERTWISTLES (BAKERS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
18
17
3
Tangible fixed assets
Land and buildings
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2020 and 30 September 2021
63,660
146,365
23,173
233,198
Depreciation and impairment
At 1 October 2020
17,822
131,852
14,535
164,209
Depreciation charged in the year
2,546
2,177
2,160
6,883
At 30 September 2021
20,368
134,029
16,695
171,092
Carrying amount
At 30 September 2021
43,292
12,336
6,478
62,106
At 30 September 2020
45,838
14,513
8,638
68,989
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
18,344
16,156
Other debtors
6,051
4,657
24,395
20,813
BERTWISTLES (BAKERS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 6 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loan (secured)
3,253
3,061
Trade creditors
13,864
11,658
Taxation and social security
12,403
6,594
Other creditors
19,503
29,796
49,023
51,109
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loan (secured)
26,411
29,889