Company No:
Contents
Note | 2022 | 2021 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
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6,119,123 | 4,115,000 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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1,261,501 | 719,260 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current liabilities | (6,145,623) | (2,202,235) | ||
Total assets less current liabilities | (26,500) | 1,912,765 | ||
Creditors | ||||
Amounts falling due after more than one year | 6 |
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
The financial statements of M Baker (Roche) 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 (Roche) 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: 09840160). The address of the Company's registered office is Senate Court, Southernhay Gardens, Exeter, Devon, United Kingdom, 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 (Roche) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
The Company has an excess of liabilities over assets. The Company relies on the continued support from other group companies which is expected to continue. The Group has expressed willingness to continue to support the Company for the foreseeable future. On that basis, the directors consider it appropriate to continue to prepare the financial statements on the going concern basis.
Exchange differences are recognised in the Statement of Comprehensive Income 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.
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
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 Comprehensive Income as described below.
The fair value is determined annually by the directors, on an open market value for existing use basis.
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.
General
The profit and loss account represents the accumulated profits less dividends.
Non distributable
The profit and loss account - non distributable represents the accumulated difference between the cost and valuations of the investment property held by the company less deferred tax.
2022 | 2021 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investment property | |
£ | |
Valuation | |
As at 01 April 2021 |
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Additions | 2,004,123 |
As at 31 March 2022 |
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Assumptions
The 2022 valuations were made by the directors, on an open market value for existing use basis.
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£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Prepayments and accrued income |
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VAT recoverable |
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£ | £ | ||
Bank loans (secured) |
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Amounts owed to Group undertakings |
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Amounts owed to fellow subsidiaries |
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Accruals and deferred income |
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Corporation tax |
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Other taxation and social security |
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2022 | 2021 | ||
£ | £ | ||
Bank loans (secured) |
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2022 | 2021 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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