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REGISTERED NUMBER: 00758166 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

James Baxter Limited

James Baxter Limited (Registered number: 00758166)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

James Baxter Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mrs M M Baxter
J J Baxter
Mrs G Baxter





SECRETARY: Mrs G Baxter





REGISTERED OFFICE: Valley Farm
Tinsel Lane
Wellesborough
Nuneaton
Warwickshire
CV13 6LL





REGISTERED NUMBER: 00758166 (England and Wales)





ACCOUNTANTS: Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

James Baxter Limited (Registered number: 00758166)

Balance Sheet
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,360,738 2,218,654
Investments 5 1,029 1,029
2,361,767 2,219,683

CURRENT ASSETS
Stocks 118,900 244,816
Debtors 6 110,190 85,319
Cash at bank 1,058,033 776,135
1,287,123 1,106,270
CREDITORS
Amounts falling due within one year 7 (826,644 ) (722,704 )
NET CURRENT ASSETS 460,479 383,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,822,246

2,603,249

CREDITORS
Amounts falling due after more than one
year

8

(180,954

)

(180,954

)

PROVISIONS FOR LIABILITIES (84,811 ) (84,811 )
NET ASSETS 2,556,481 2,337,484

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Retained earnings 10 2,551,481 2,332,484
SHAREHOLDERS' FUNDS 2,556,481 2,337,484

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

James Baxter Limited (Registered number: 00758166)

Balance Sheet - continued
31 May 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





J J Baxter - Director


James Baxter Limited (Registered number: 00758166)

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

1. STATUTORY INFORMATION

James Baxter 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 3% on cost
Plant and machinery etc - 15% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

James Baxter Limited (Registered number: 00758166)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Pension contributions
The company operates a small self administered pension scheme. The assets of the scheme are held separately from those of the company in an independantly administered fund. The pension cost charge represents contributions payable by the company to the fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 1,418,486 1,351,645 2,770,131
Additions - 591,592 591,592
Disposals - (420,078 ) (420,078 )
At 31 May 2023 1,418,486 1,523,159 2,941,645
DEPRECIATION
At 1 June 2022 100,989 450,488 551,477
Charge for year 3,163 144,449 147,612
Eliminated on disposal - (118,182 ) (118,182 )
At 31 May 2023 104,152 476,755 580,907
NET BOOK VALUE
At 31 May 2023 1,314,334 1,046,404 2,360,738
At 31 May 2022 1,317,497 901,157 2,218,654

Included in cost of land and buildings is freehold land of £ 1,267,408 (2022 - £ 1,267,408 ) which is not depreciated.

James Baxter Limited (Registered number: 00758166)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 21,400
NET BOOK VALUE
At 31 May 2023 21,400
At 31 May 2022 21,400

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2022
and 31 May 2023 1,029
NET BOOK VALUE
At 31 May 2023 1,029
At 31 May 2022 1,029

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 76,996 36,048
Other debtors 33,194 49,271
110,190 85,319

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 8,310
Trade creditors 191,033 110,404
Taxation and social security 45,811 23,655
Other creditors 589,800 580,335
826,644 722,704

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 180,954 180,954

James Baxter Limited (Registered number: 00758166)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000

10. RESERVES
Retained
earnings
£   

At 1 June 2022 2,332,484
Profit for the year 222,997
Dividends (4,000 )
At 31 May 2023 2,551,481

11. RELATED PARTY DISCLOSURES

At 31May 2023 the directors were owed £586,115 by James Baxter Limited.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
James Baxter 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 of James Baxter Limited for the year ended 31 May 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of James Baxter Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of James Baxter Limited and state those matters that we have agreed to state to the Board of Directors of James Baxter Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than James Baxter Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that James Baxter Limited 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 of James Baxter Limited. You consider that James Baxter Limited 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 James Baxter Limited. 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.






Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


28 September 2023