Luke Evans Bakery Ltd - Accounts to registrar - small 17.1

REGISTERED NUMBER: 07672560 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

LUKE EVANS BAKERY LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

D Yates

Mrs H J Yates

REGISTERED OFFICE:

St.Helens House

King Street

Derby

DE1 3EE

REGISTERED NUMBER:

07672560 (England and Wales)

ACCOUNTANTS:

Smith Cooper Limited

Chartered Accountants

St.Helens House

King Street

Derby

DE1 3EE

FIXED ASSETS

Tangible assets

4

250,965

223,238

CURRENT ASSETS

Stocks

27,529

28,966

Debtors

5

193,262

190,091

Cash at bank and in hand

32,895

51,798

253,686

270,855

CREDITORS

Amounts falling due within one year

6

318,781

360,112

NET CURRENT LIABILITIES

(65,095

)

(89,257

)

TOTAL ASSETS LESS CURRENT LIABILITIES

185,870

133,981

CREDITORS

Amounts falling due after more than one year

7

(126,451

)

(75,461

)

PROVISIONS FOR LIABILITIES

(33,638

)

(25,564

)

NET ASSETS

25,781

32,956

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

25,681

32,856

SHAREHOLDERS' FUNDS

25,781

32,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 June 2017 and were signed on its behalf by:

D Yates - Director

1.	STATUTORY INFORMATION

Luke Evans Bakery Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts. The policy adopted for the recognition of turnover is as follows:

Sale of goods

Turnover from the sale of bakery goods is recognised when significant risks and rewards of ownership of the

goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the

economic benefits associated with the transaction will flow to the company and the costs incurred or to be

incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 78 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2016

19,705

331,586

19,860

5,147

376,298

Additions

-

79,450

-

-

79,450

Disposals

-

(16,277

)

-

-

(16,277

)

At 31 December 2016

19,705

394,759

19,860

5,147

439,471

DEPRECIATION

At 1 January 2016

6,568

132,690

10,103

3,699

153,060

Charge for year

3,284

39,817

1,463

362

44,926

Eliminated on disposal

-

(9,480

)

-

-

(9,480

)

At 31 December 2016

9,852

163,027

11,566

4,061

188,506

NET BOOK VALUE

At 31 December 2016

9,853

231,732

8,294

1,086

250,965

At 31 December 2015

13,137

198,896

9,757

1,448

223,238

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2016

152,002

Additions

72,000

At 31 December 2016

224,002

DEPRECIATION

At 1 January 2016

50,943

Charge for year

23,492

At 31 December 2016

74,435

NET BOOK VALUE

At 31 December 2016

149,567

At 31 December 2015

101,059

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

153,601

143,738

Other debtors

7,504

7,008

VAT

6,536

5,563

Prepayments and accrued income

25,621

33,782

193,262

190,091

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

21,049

20,617

Hire purchase contracts (see note 8)

33,573

26,202

Trade creditors

145,900

144,721

Corporation tax

13,731

26,046

Social security and other taxes

20,582

24,666

Other creditors

1,162

550

Net wages payable

31,621

30,325

Directors' current accounts

519

996

Accrued expenses

50,644

85,989

318,781

360,112

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans - 1-2 years

56,126

32,588

Hire purchase contracts (see note 8)

70,325

42,873

126,451

75,461

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2016

2015

£

£

Net obligations repayable:

Within one year

33,573

26,202

Between one and five years

70,325

42,873

103,898

69,075

Non-cancellable operating

leases

2016

2015

£

£

Within one year

46,912

51,695

Between one and five years

15,530

26,443

62,442

78,138

9.	ULTIMATE CONTROLLING PARTY

The controlling party is D and H Yates, jointly.