REGISTERED NUMBER: |
P. BAILEY BUILDING CONTRACTORS LIMITED |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2020 TO 30 APRIL 2022 |
REGISTERED NUMBER: |
P. BAILEY BUILDING CONTRACTORS LIMITED |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2020 TO 30 APRIL 2022 |
P. BAILEY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 04909803) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 1 November 2020 to 30 April 2022 |
Page |
Abridged Balance Sheet | 1 | to | 2 |
Notes to the Financial Statements | 3 | to | 5 |
P. BAILEY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 04909803) |
ABRIDGED BALANCE SHEET |
30 April 2022 |
2022 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
P. BAILEY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 04909803) |
ABRIDGED BALANCE SHEET - continued |
30 April 2022 |
The financial statements were approved by the Board of Directors and authorised for issue on |
P. BAILEY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 04909803) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 November 2020 to 30 April 2022 |
1. | STATUTORY INFORMATION |
P. Bailey Building Contractors Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis. No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
P. BAILEY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 04909803) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 November 2020 to 30 April 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. |
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. |
Rentals paid under operating leases are charged to income on as incurred over the lease term. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2020 |
and 30 April 2022 |
AMORTISATION |
At 1 November 2020 |
and 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 31 October 2020 |
Goodwill arose from the acquisition of an unincorporated business in 2003. It has been amortized over its estimated useful life of ten years and is now fully written off. |
P. BAILEY BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 04909803) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 November 2020 to 30 April 2022 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 November 2020 |
Disposals | ( |
) |
At 30 April 2022 |
DEPRECIATION |
At 1 November 2020 |
Charge for period |
Eliminated on disposal | ( |
) |
At 30 April 2022 |
NET BOOK VALUE |
At 30 April 2022 |
At 31 October 2020 |
6. | SECURED DEBTS |
The company has agreed borrowing facilities with its bankers secured by a debenture against all company assets. At the balance sheet date no borrowings were outstanding. |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year, loans advanced to the directors and still outstanding at the year end totalled £131,835. The loan has interest charged at 2% and is repayable on demand. |
8. | RELATED PARTY DISCLOSURES |
There have been no material transactions with any related parties. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr P Bailey. |
The company is controlled by its directors, by virtue of their shareholdings. |