The Clay-oven Bakery Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 05814141 (England and Wales)

Abbreviated Accounts

for the Year Ended 31st May 2015

for

THE CLAY-OVEN BAKERY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr N Badat

SECRETARY:

Mrs A Badat

REGISTERED OFFICE:

85 Cobden Street

Leicester

LE1 2LB

REGISTERED NUMBER:

05814141 (England and Wales)

ACCOUNTANTS:

Watergates Ltd

109 Coleman Road

Leicester

LE5 4LE

FIXED ASSETS

Tangible assets

2

548,582

600,917

CURRENT ASSETS

Stocks

10,496

8,450

Debtors

53,018

29,904

Cash at bank and in hand

87,389

56,496

150,903

94,850

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

(115,748

)

(99,595

)

NET CURRENT ASSETS/(LIABILITIES)

35,155

(4,745

)

TOTAL ASSETS LESS CURRENT LIABILITIES

583,737

596,172

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

3

(439,174

)

(484,552

)

NET ASSETS

144,563

111,620

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

144,463

111,520

SHAREHOLDERS' FUNDS

144,563

111,620

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2015.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st May 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26th February 2016 and were signed by:

Mr N Badat - Director

1.	ACCOUNTING POLICIES

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

TURNOVER

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

The turnover shown in the profit and loss account represents amounts invoiced during the year,

exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value

of work done in the year, including estimates of amounts not invoiced. Turnover in respect of

long-term contracts and contracts for on-going services is recognised by reference to the stage of

completion.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

2% on cost

Long leasehold

-

10% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Office equipment

-

25% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date where transactions or events have occurred at that date that will result in an

obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of

fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement

assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of

the assets concerned. However, no provision is made where, on the basis of all available evidence

at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into

replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the director considers that it is 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 an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership

remain with the lessor are charged against profits on a straight line basis over the period of the

lease.

FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2014

834,592

Additions

37,583

Disposals

(79,235

)

At 31st May 2015

792,940

DEPRECIATION

At 1st June 2014

233,675

Charge for year

57,957

Eliminated on disposal

(47,274

)

At 31st May 2015

244,358

NET BOOK VALUE

At 31st May 2015

548,582

At 31st May 2014

600,917

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

31/5/15

31/5/14

£

£

Repayable by instalments

439,174

484,552

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/15

31/5/14

value:

£

£

100

Ordinary

£1

100

100