Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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7,927,342 | 7,826,220 | |||
Current assets | ||||
Debtors | 4 |
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1,492,491 | 777,309 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current liabilities | (1,230,590) | (1,934,545) | ||
Total assets less current liabilities | 6,696,752 | 5,891,675 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of M Baker (Holdings) Limited (registered number:
Mr A E Browne
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
M Baker (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales (registered number: 01310725). The address of the Company's registered office is Senate Court, Southernhay Gardens, Exeter, Devon, EX1 1NT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of M Baker (Holdings) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
The profit and loss account represents the accumulated profits less dividends.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2022 | 2021 | ||
£ | £ | ||
Subsidiary undertakings |
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Other investments and loans |
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7,927,342 | 7,826,220 |
Investments in subsidiaries
2022 | |
£ | |
Cost | |
At 01 April 2021 |
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At 31 March 2022 |
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Carrying value at 31 March 2022 |
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Carrying value at 31 March 2021 |
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Listed investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 April 2021 |
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Additions |
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Disposals | (
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Movement in fair value | (
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At 31 March 2022 |
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Provisions for impairment | |||
At 01 April 2021 |
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At 31 March 2022 |
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Carrying value at 31 March 2022 |
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Carrying value at 31 March 2021 |
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2022 | 2021 | ||
£ | £ | ||
Amounts owed by own subsidiaries |
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2022 | 2021 | ||
£ | £ | ||
Amounts owed to own subsidiaries |
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Accruals |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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10,000 | 10,000 | ||
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2,808,000 | 2,808,000 |
Repayments or distributions of capital (other than the redemption of shares of any class or the purchase by the Company of its own shares) will be applied firstly to the redeemable preference shares. The A and B ordinary shares are non redeemable.
The A and B ordinary shares convey the right to receive notice of, to attend and vote at all general meetings of the Company. The redeemable preference shares do not contain this right other than in respect of matters affecting the rights and privileges of the redeemable preference shares.
Redeemable preference shares are redeemable in multiples of not less than 10 redeemable preference shares upon the Company giving 10 business days' notice to the holders of the redeemable preference shares.
Contingent liabilities
2022 | 2021 | ||
£ | £ | ||
Total indebtedness |
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The loans were paid off in full in the year ended 31/03/2022.