REGISTERED NUMBER: |
BAILEY ESTATES LIMITED |
Financial Statements for the Year Ended 31 December 2022 |
REGISTERED NUMBER: |
BAILEY ESTATES LIMITED |
Financial Statements for the Year Ended 31 December 2022 |
BAILEY ESTATES LIMITED (REGISTERED NUMBER: 03066503) |
Contents of the Financial Statements |
for the year ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 5 |
BAILEY ESTATES LIMITED |
Company Information |
for the year ended 31 December 2022 |
Director: |
Registered office: |
Registered number: |
Accountants: |
5-6 Greenfield Crescent |
Edgbaston |
Birmingham |
West Midlands |
B15 3BE |
BAILEY ESTATES LIMITED (REGISTERED NUMBER: 03066503) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Non distributable reserves |
Distributable reserves |
Shareholders' funds |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
BAILEY ESTATES LIMITED (REGISTERED NUMBER: 03066503) |
Notes to the Financial Statements |
for the year ended 31 December 2022 |
1. | Statutory information |
Bailey Estates Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment properties are included at open market value and the aggregate surplus or deficit is transferred to reserves. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | Employees and directors |
The average number of employees during the year was NIL (2021 - NIL). |
4. | Investment property |
Total |
£ |
Fair value |
At 1 January 2022 |
Disposals | ( |
) |
Revaluations | 111,000 |
At 31 December 2022 |
Net book value |
At 31 December 2022 |
At 31 December 2021 |
Fair value at 31 December 2022 is represented by: |
£ |
Valuation in 2012 | 344,079 |
Valuation in 2013 | 108,000 |
Valuation in 2014 | 52,000 |
Valuation in 2015 | 35,000 |
Valuation in 2016 | 35,000 |
Valuation in 2018 | 51,000 |
Valuation in 2019 | 53,500 |
Valuation in 2020 | 127,000 |
Valuation in 2021 | 47,000 |
Valuation in 2022 | 111,000 |
Cost | 1,089,421 |
2,053,000 |
BAILEY ESTATES LIMITED (REGISTERED NUMBER: 03066503) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
4. | Investment property - continued |
The investment properties are included at open market value and were valued by Mr Graham Bailey, director, in December 2022, the values being reflected in the accounts. |
Included in investment property is property with a value of £2,053,000 used in operating leases. |
5. | Debtors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Other debtors |
6. | Creditors: amounts falling due within one year |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2022 | 2021 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 834,036 | 888,096 |
8. | Secured debts |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
The loan is secured by the company against its investment property portfolio by way of a fixed and floating charge. |
9. | Provisions for liabilities |
2022 | 2021 |
£ | £ |
Deferred tax | 11,488 | 24,964 |
Deferred |
tax |
£ |
Balance at 1 January 2022 |
Provided during year | ( |
) |
Balance at 31 December 2022 |
BAILEY ESTATES LIMITED (REGISTERED NUMBER: 03066503) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2022 |
9. | Provisions for liabilities - continued |
The deferred tax provision relates to the revaluation of investment properties as required under the provisions of UK GAAP FRS 102. |
10. | Ultimate controlling party |
The controlling party is G Bailey. |