Registration number: 00050647

J & F J Baker & Company Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

J & F J Baker & Company Limited

(Registration number: 00050647)
Balance Sheet as at 30 April 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	6	6
Other financial assets	5	53,020	56,817
		53,026	56,823
Current assets
Stocks	6	328,138	329,481
Debtors	7	93,223	57,494
Cash at bank and in hand		1,899,723	1,675,121
		2,321,084	2,062,096
Creditors: Amounts falling due within one year	8	(208,112)	(171,759)
Net current assets		2,112,972	1,890,337
Total assets less current liabilities		2,165,998	1,947,160
Creditors: Amounts falling due after more than one year	8	(5,220)	(5,220)
Provisions for liabilities		513	826
Net assets		2,161,291	1,942,766
Capital and reserves
Called up share capital		7,500	7,500
Profit and loss account		2,153,791	1,935,266
Total equity		2,161,291	1,942,766

J & F J Baker & Company Limited

(Registration number: 00050647)
Balance Sheet as at 30 April 2023

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2023 and signed on its behalf by:
 

A Parr Director

H E Parr Company secretary and director

J & F J Baker & Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Hamlyns
Colyton
Devon
EX24 6PD

These financial statements were authorised for issue by the Board on 7 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The directors consider that there are no material uncertainties about the company’s ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Following this review, the directors consider that the company has adequate resources in place to continue trading for the next twelve months as a going concern.

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.

J & F J Baker & Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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
Land and buildings	over one year
Plant and machinery	over one year
Motor vehicles	over one year

Development costs

Research and development expenditure is written off as incurred.

Investments

Fixed asset invesments are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

J & F J Baker & Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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 stocks 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

J & F J Baker & Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 18 (2022 - 19).

4	Tangible assets

	Freehold land and buildings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 May 2022	74,194	392,351	80,421	546,966
Additions	-	5,250	-	5,250
At 30 April 2023	74,194	397,601	80,421	552,216
Depreciation
At 1 May 2022	74,190	392,350	80,420	546,960
Charge for the year	-	5,250	-	5,250
At 30 April 2023	74,190	397,600	80,420	552,210
Carrying amount
At 30 April 2023	4	1	1	6
At 30 April 2022	4	1	1	6

Included within the net book value of land and buildings above is £4 (2022 - £4) in respect of freehold land and buildings.
 

J & F J Baker & Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 May 2022	67,729	67,729
At 30 April 2023	67,729	67,729
Impairment
At 1 May 2022	10,912	10,912
Revaluation	3,797	3,797
At 30 April 2023	14,709	14,709
Carrying amount
At 30 April 2023	53,020	53,020

6

Stocks

	2023 £	2022 £
Raw materials and consumables	328,138	329,481

7

Debtors

	2023 £	2022 £
Trade debtors	81,890	50,808
Prepayments	11,333	6,686
	93,223	57,494

J & F J Baker & Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Creditors

Due within one year	Note	2023 £	2022 £
Trade creditors		47,192	72,198
Social security and other taxes		28,700	13,284
Other creditors		45,323	45,541
Accruals		31,328	6,683
Corporation tax liability		55,569	34,053
		208,112	171,759
Due after one year
Loans and borrowings	9	5,220	5,220