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Registration number: SC469225

Jamie Baird Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 February 2021 to 31 March 2022

 

Jamie Baird Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Financial Statements

5 to 9

 

Jamie Baird Ltd

Company Information

Directors

James Baird

Registered office

30 West Mains Road
Edinburgh
EH9 3BG

Bankers

Bank of Scotland
PO Box 1000
BX2 1LB

Accountants

Roderick Gunkel & Associates Ltd
Orchardlea
Callander
FK17 8BG

 

Jamie Baird Ltd

Director's Report for the Period from 1 February 2021 to 31 March 2022

The director presents his report and the financial statements for the period from 1 February 2021 to 31 March 2022.

Director of the company

The director who held office during the period was as follows:

James Baird

Principal activity

The principal activity of the company has been monitoring financial services sales processes and sales

Director's responsibilities

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 Section 1A - Small Entities, the applicable Financial Reporting Standard. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

make judgements and accounting estimates that are reasonable and prudent;

select suitable accounting policies and apply them consistently;

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 25 July 2022
 

.........................................
James Baird
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Jamie Baird Ltd
for the Period Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jamie Baird Ltd for the period ended 31 March 2022 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
 

This report is made solely to the Board of Directors of Jamie Baird Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Jamie Baird Ltd and state those matters that we have agreed to state to the Board of Directors of Jamie Baird Ltd, as a body, in this report.

This is in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.doc. And, to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jamie Baird Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Jamie Baird Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jamie Baird Ltd. You consider that Jamie Baird Ltd is exempt from the statutory audit requirement for the period.
 

We have not been instructed to carry out an audit or a review of the accounts of Jamie Baird Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

image-name

....................................................................

Roderick Gunkel & Associates Ltd
Orchardlea
Callander
FK17 8BG


 

25 July 2022

 

Jamie Baird Ltd

(Registration number: SC469225)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

-

500

Current assets

 

Debtors

6

700

7,200

Cash at bank and in hand

 

29,886

20,866

 

30,586

28,066

Creditors: Amounts falling due within one year

7

(16,012)

(16,922)

Net current assets

 

14,574

11,144

Total assets less current liabilities

 

14,574

11,644

Provisions for liabilities

-

(95)

Net assets

 

14,574

11,549

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

14,474

11,449

Shareholders' funds

 

14,574

11,549

For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 25 July 2022
 

.........................................
James Baird
Director

 

Jamie Baird Ltd

Notes to the Financial Statements for the Period from 1 February 2021 to 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

Ther company has ceased trading and will be wound up without the need for a formal liquidation.

The address of its registered office is:
30 West Mains Road
Edinburgh
EH9 3BG

These financial statements were authorised for issue by the director on 25 July 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Jamie Baird Ltd

Notes to the Financial Statements for the Period from 1 February 2021 to 31 March 2022

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings, equipment

residual value after disposal of assets

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Jamie Baird Ltd

Notes to the Financial Statements for the Period from 1 February 2021 to 31 March 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2021 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

438

267

 

Jamie Baird Ltd

Notes to the Financial Statements for the Period from 1 February 2021 to 31 March 2022

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2021

2,760

2,760

Additions

638

638

Disposals

(700)

(700)

At 31 March 2022

2,698

2,698

Depreciation

At 1 February 2021

2,260

2,260

Charge for the period

438

438

At 31 March 2022

2,698

2,698

Carrying amount

At 31 March 2022

-

-

At 31 January 2021

500

500

6

Debtors

Current

2022
£

2021
£

Trade debtors

-

7,200

Other debtors

700

-

 

700

7,200

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

9

285

117

Trade creditors

 

2,160

-

Taxation and social security

 

13,567

15,305

Accruals and deferred income

 

-

1,500

 

16,012

16,922

 

Jamie Baird Ltd

Notes to the Financial Statements for the Period from 1 February 2021 to 31 March 2022

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Director current account

285

117