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REGISTERED NUMBER: 03066503 (England and Wales)















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: G Bailey





Registered office: 24 Whiston Grove
Rotherham
South Yorkshire
S60 2TX





Registered number: 03066503 (England and Wales)





Accountants: Haines Watts Birmingham LLP
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 2,053,000 2,042,000

Current assets
Debtors 5 - 2,660
Cash at bank and in hand 230,237 344,042
230,237 346,702
Creditors
Amounts falling due within one year 6 561,110 699,581
Net current liabilities (330,873 ) (352,879 )
Total assets less current liabilities 1,722,127 1,689,121

Creditors
Amounts falling due after more than one
year

7

(843,813

)

(897,873

)

Provisions for liabilities 9 (11,488 ) (24,964 )
Net assets 866,826 766,284

Capital and reserves
Called up share capital 2 2
Non distributable reserves 837,900 726,900
Distributable reserves 28,924 39,382
Shareholders' funds 866,826 766,284

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:




G Bailey - Director


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 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 as modified by the revaluation of certain assets.

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 2,042,000
Disposals (100,000 )
Revaluations 111,000
At 31 December 2022 2,053,000
Net book value
At 31 December 2022 2,053,000
At 31 December 2021 2,042,000

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 - 2,660

6. Creditors: amounts falling due within one year
2022 2021
£    £   
Bank loans and overdrafts 2,444 2,444
Trade creditors 8,960 9,996
Taxation and social security 8,231 10,335
Other creditors 541,475 676,806
561,110 699,581

7. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Bank loans 843,813 897,873

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 846,257 900,317

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 24,964
Provided during year (13,476 )
Balance at 31 December 2022 11,488

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.