The ad, by MCBD, opens with a sepia-tinted Victorian scene with a young girl wandering along a busy cobbled street and into a bakery where individual loaves were being loaded into an oven on a wooden palette.
The voice-over then explains that Hovis had created a new range of rolls before saying the strapline.
The body received complaints that the line suggested that the loaf was the same as when it was originally created but that its recipe, production, fibre content, centralised production system and delivery methods meant that this could not be the case.
A spokesman for the ASA said: "The ASA considered that viewers were likely to interpret the claim... to mean that Hovis continued to meet the needs of their customers (by introducing new products, made to the same brand standards and values, to suit differing tastes or requirements), just as it had since it began producing bread."