BAGUETTE EXPRESS KMB LTD

BAGUETTE EXPRESS KMB LTD

BAGUETTE EXPRESS KMB LTD - Company Information

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BAGUETTE EXPRESS KMB LTD

Company Registration Number:
SC434850 (Scotland)

Unaudited abridged accounts for the year ended 29 February 2020

Period of accounts

Start date: 01 March 2019

End date: 29 February 2020

BAGUETTE EXPRESS KMB LTD

Contents of the Financial Statements

for the Period Ended 29 February 2020

Balance sheet
Notes

BAGUETTE EXPRESS KMB LTD

Balance sheet

As at 29 February 2020


Notes
2020
2019


£
£
Fixed assets
Intangible assets: 3 43,500 58,000
Tangible assets: 4 11,238 13,628
Total fixed assets: 54,738 71,628
Current assets
Stocks: 2,000 1,500
Debtors: 5 8,640 5,496
Cash at bank and in hand: 3,194 4,278
Total current assets: 13,834 11,274
Creditors: amounts falling due within one year: 6 (75,490) (90,840)
Net current assets (liabilities): (61,656) (79,566)
Total assets less current liabilities: (6,918) (7,938)
Provision for liabilities: (2,135) (2,583)
Total net assets (liabilities): (9,053) (10,521)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (9,153) (10,621)
Shareholders funds: (9,053) (10,521)

The notes form part of these financial statements

BAGUETTE EXPRESS KMB LTD

Balance sheet statements

For the year ending 29 February 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 November 2020
and signed on behalf of the board by:

Name: K Sangster
Status: Director

The notes form part of these financial statements

BAGUETTE EXPRESS KMB LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets and depreciation policy

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:Plant and machinery: 20% reducing balanceFixtures, fittings & equipment: 20% reducing balanceComputer equipment: 33% straight line

Intangible fixed assets and amortisation policy

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected tobenefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested forimpairment at least annually, or more frequently when there is an indication that the unit may be impaired.If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, theimpairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

BAGUETTE EXPRESS KMB LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

2. Employees

2020 2019
Average number of employees during the period 12 12

BAGUETTE EXPRESS KMB LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

3. Intangible Assets

Total
Cost £
At 01 March 2019 145,000
At 29 February 2020 145,000
Amortisation
At 01 March 2019 87,000
Charge for year 14,500
At 29 February 2020 101,500
Net book value
At 29 February 2020 43,500
At 28 February 2019 58,000

BAGUETTE EXPRESS KMB LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

4. Tangible Assets

Total
Cost £
At 01 March 2019 124,900
Additions 828
At 29 February 2020 125,728
Depreciation
At 01 March 2019 111,272
Charge for year 3,218
At 29 February 2020 114,490
Net book value
At 29 February 2020 11,238
At 28 February 2019 13,628

BAGUETTE EXPRESS KMB LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

5. Debtors

Other debtors £8,640 (2019: £5,496)

BAGUETTE EXPRESS KMB LTD

Notes to the Financial Statements

for the Period Ended 29 February 2020

6. Creditors: amounts falling due within one year note

Bank loans and overdrafts: £Nil (2019: £2)Trade creditors: £19,555 (2019: £Nil)Corporation tax: £754 (2019: £Nil)Other taxation and social security: £Nil (2019: -£2,765Other creditors: £55,181 (2019: £93,603)