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REGISTERED NUMBER: 13816966 (England and Wales)











Financial Statements

for the Year Ended 31st December 2022

for

BAKER WILKINS & SMITH (BAHRAIN) LIMITED

BAKER WILKINS & SMITH (BAHRAIN) LIMITED (REGISTERED NUMBER: 13816966)






Contents of the Financial Statements
for the year ended 31st December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BAKER WILKINS & SMITH (BAHRAIN) LIMITED

Company Information
for the year ended 31st December 2022







DIRECTOR: T Siddons





REGISTERED OFFICE: Chapter House
33 London Road
Reigate
Surrey
RH2 9HZ





REGISTERED NUMBER: 13816966 (England and Wales)





ACCOUNTANTS: Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ

BAKER WILKINS & SMITH (BAHRAIN) LIMITED (REGISTERED NUMBER: 13816966)

Balance Sheet
31st December 2022

Notes £    £   
FIXED ASSETS
Intangible assets 4 1,392,188
Tangible assets 5 5,361
1,397,549

CURRENT ASSETS
Debtors 6 453,480
Cash at bank 45,232
498,712
CREDITORS
Amounts falling due within one year 7 1,899,500
NET CURRENT LIABILITIES (1,400,788 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,239

)

CAPITAL AND RESERVES
Called up share capital 8 100
Retained earnings (3,339 )
SHAREHOLDERS' FUNDS (3,239 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6th October 2023 and were signed by:




T Siddons - Director


BAKER WILKINS & SMITH (BAHRAIN) LIMITED (REGISTERED NUMBER: 13816966)

Notes to the Financial Statements
for the year ended 31st December 2022

1. STATUTORY INFORMATION

Baker Wilkins & Smith (Bahrain) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, 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.
Computer equipment - 33% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 .

BAKER WILKINS & SMITH (BAHRAIN) LIMITED (REGISTERED NUMBER: 13816966)

Notes to the Financial Statements - continued
for the year ended 31st December 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 1,546,875
At 31st December 2022 1,546,875
AMORTISATION
Charge for year 154,687
At 31st December 2022 154,687
NET BOOK VALUE
At 31st December 2022 1,392,188

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 7,934
At 31st December 2022 7,934
DEPRECIATION
Charge for year 2,573
At 31st December 2022 2,573
NET BOOK VALUE
At 31st December 2022 5,361

6. DEBTORS
£   
Amounts falling due within one year:
Trade debtors 402,560
Amounts recoverable on contract 30,591
Other debtors 437
Prepayments and accrued income 19,792
453,380

Amounts falling due after more than one year:
Amounts owed by group undertakings 100

Aggregate amounts 453,480

BAKER WILKINS & SMITH (BAHRAIN) LIMITED (REGISTERED NUMBER: 13816966)

Notes to the Financial Statements - continued
for the year ended 31st December 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 16,901
Tax 34,216
VAT 3,401
Directors' current accounts 1,756,538
Accrued expenses 88,444
1,899,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

9. RELATED PARTY DISCLOSURES

In December 2021, the company acquired the goodwill of the business in Bahrain from Baker Wilkins & Smith Limited, a company in which Mr Siddons is the director and shareholder.

The company is a wholly owned subsidiary of Baker Wilkins & Smith Holdings Limited, a company registered in England & Wales. Mr Siddons is the managing director and majority shareholder of the holding company.

As at the balance sheet date, the company owed £1,756,538 to T Siddons .

The controlling party is T Siddons.