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REGISTERED NUMBER: 06893836 (England and Wales)
















Financial Statements

for the Year Ended 31 January 2023

for

Bailey Building Company Limited

Bailey Building Company Limited (Registered number: 06893836)

Contents of the Financial Statements
for the Year Ended 31 January 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Bailey Building Company Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: S P Bailey
Mrs L J Bailey





REGISTERED OFFICE: 701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT





REGISTERED NUMBER: 06893836 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Bailey Building Company Limited

Report of the Accountants to the Directors of
Bailey Building Company Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes 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 as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of the Company. 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 financial statements.






GCSD Accountants Limited


27 September 2023

Bailey Building Company Limited (Registered number: 06893836)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 44,596 49,846
44,596 49,846

CURRENT ASSETS
Stocks 20,000 447,980
Debtors 6 18,822 6,396
Cash at bank and in hand 400,342 11,396
439,164 465,772
CREDITORS
Amounts falling due within one year 7 43,867 107,684
NET CURRENT ASSETS 395,297 358,088
TOTAL ASSETS LESS CURRENT
LIABILITIES

439,893

407,934

PROVISIONS FOR LIABILITIES 9,807 8,386
NET ASSETS 430,086 399,548

Bailey Building Company Limited (Registered number: 06893836)

Balance Sheet - continued
31 January 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 429,986 399,448
SHAREHOLDERS' FUNDS 430,086 399,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





S P Bailey - Director


Bailey Building Company Limited (Registered number: 06893836)

Notes to the Financial Statements
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Bailey Building Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods & services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Bailey Building Company Limited (Registered number: 06893836)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 100,000
AMORTISATION
At 1 February 2022
and 31 January 2023 100,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

Bailey Building Company Limited (Registered number: 06893836)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 22,586 221 69,259 7,882 99,948
Additions 7,083 - - - 7,083
Disposals - - (13,800 ) - (13,800 )
At 31 January 2023 29,669 221 55,459 7,882 93,231
DEPRECIATION
At 1 February 2022 7,814 208 36,125 5,955 50,102
Charge for year 3,278 4 8,188 481 11,951
Eliminated on disposal - - (13,418 ) - (13,418 )
At 31 January 2023 11,092 212 30,895 6,436 48,635
NET BOOK VALUE
At 31 January 2023 18,577 9 24,564 1,446 44,596
At 31 January 2022 14,772 13 33,134 1,927 49,846

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,000 540
Other debtors 3,822 5,856
18,822 6,396

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 12,735 11,551
Taxation and social security 27,160 3,965
Other creditors 3,972 92,168
43,867 107,684