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Registration number: 12875056

Victoria Baker Homes Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Victoria Baker Homes Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Victoria Baker Homes Ltd

(Registration number: 12875056)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

33,790

24,416

Current assets

 

Stocks

5

62,323

100

Debtors

6

116,682

71,575

Cash at bank and in hand

 

11,606

26,116

 

190,611

97,791

Creditors: Amounts falling due within one year

7

(170,619)

(67,469)

Net current assets

 

19,992

30,322

Total assets less current liabilities

 

53,782

54,738

Creditors: Amounts falling due after more than one year

7

(3,492)

(8,714)

Provisions for liabilities

(6,420)

(4,639)

Net assets

 

43,870

41,385

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

43,868

41,383

Shareholders' funds

 

43,870

41,385

 

Victoria Baker Homes Ltd

(Registration number: 12875056)
Balance Sheet as at 31 January 2023

For the financial year ending 31 January 2023 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 year in question in accordance with section 476; and

The director acknowledges her 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the director on 24 July 2023
 

.........................................
V Baker
Director

 

Victoria Baker Homes Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.

Tax

The tax expense for the period comprises of current and deferred tax.

 

Victoria Baker Homes Ltd

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

The current 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

Office Equipment

33% Straight Line

Motor Vehicles

25% Reducing Balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Victoria Baker Homes Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2022

1,715

35,193

36,908

Additions

-

18,850

18,850

At 31 January 2023

1,715

54,043

55,758

Depreciation

At 1 February 2022

761

11,731

12,492

Charge for the year

571

8,905

9,476

At 31 January 2023

1,332

20,636

21,968

Carrying amount

At 31 January 2023

383

33,407

33,790

At 31 January 2022

954

23,462

24,416

5

Stocks

2023
£

2022
£

Work in Progress

62,323

100

 

Victoria Baker Homes Ltd

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

6

Debtors

2023
£

2022
£

Trade debtors

109,420

70,976

Prepayments

504

599

Other debtors

6,758

-

116,682

71,575

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

5,223

5,223

Trade creditors

 

35,118

6,059

Taxation and social security

 

49,563

37,353

Accruals and deferred income

 

2,460

1,973

Other creditors

 

78,255

16,861

 

170,619

67,469

2023
£

2022
£

Current loans and borrowings

HP and finance lease liabilities

5,223

5,223

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

3,492

8,714

Included in loans and borrowings are amounts owed under hire purchase. These hire purchases are secured by the assets themselves.