Company Registration No. SC048485 (Scotland)
Dundee Cake Company Ltd
unaudited financial statements
for the year ended 31 January 2023
Pages for filing with Registrar
Dundee Cake Company Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Dundee Cake Company Ltd
Balance sheet
as at 31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
2
19,797
19,797
Net current assets
19,797
19,797
Capital and reserves
Called up share capital
3
20,000
20,000
Profit and loss reserves
(203)
(203)
Total equity
19,797
19,797
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 31 January 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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.
The 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.
The financial statements were approved by the board of directors and authorised for issue on 19 September 2023 and are signed on its behalf by:
RSI Goodfellow
MN Goodfellow
Director
Director
Company Registration No. SC048485
Dundee Cake Company Ltd
Notes to the financial statements
for the year ended 31 January 2023
- 2 -
1
Accounting policies
Company information
Dundee Cake Company Ltd is a private company limited by shares incorporated in Scotland. The registered office is 81 Gray Street, Broughty Ferry, Dundee, DD5 2BQ.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no profit and loss account is presented in these financial statements.
1.3
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction.
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Dundee Cake Company Ltd
Notes to the financial statements (continued)
for the year ended 31 January 2023
1
Accounting policies (continued)
- 3 -
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
2
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
19,797
19,797
3
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
20,000
20,000
20,000
20,000
Called-up share capital represents the nominal value of shares that have been issued.
4
Profit and loss reserves
The profit and loss account includes all current and prior period retained distributable profit and losses.