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REGISTERED NUMBER: OC325924 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Baker and King Building Services LLP

Baker and King Building Services LLP (Registered number: OC325924)






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




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Baker and King Building Services LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mr G G King
Mrs C King





REGISTERED OFFICE: Milestone House
Haveringland Road
Haveringland
Norwich
Norfolk
NR10 4PS





REGISTERED NUMBER: OC325924 (England and Wales)





ACCOUNTANTS: Steve Pye & Co.
Chartered Certified Accountants
Unit 8
Home Farm
Norwich Road
Norwich
Norfolk
NR10 5PQ

Baker and King Building Services LLP (Registered number: OC325924)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 35,550 163,592

CURRENT ASSETS
Stocks 65,393 18,229
Debtors 6 33,153 59,820
Cash at bank and in hand 51,734 41,384
150,280 119,433
CREDITORS
Amounts falling due within one year 7 65,639 61,316
NET CURRENT ASSETS 84,641 58,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,191

221,709

CREDITORS
Amounts falling due after more than one year 8 - 94,568
NET ASSETS ATTRIBUTABLE TO MEMBERS 120,191 127,141

Baker and King Building Services LLP (Registered number: OC325924)

Statement of Financial Position - continued
31 March 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

120,191

127,141

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 120,191 127,141
Amounts due from members 6 (20,695 ) (36,234 )
99,496 90,907

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

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





Mr G G King - Designated member

Baker and King Building Services LLP (Registered number: OC325924)

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

1. STATUTORY INFORMATION

Baker and King Building Services LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - nil
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Baker and King Building Services LLP (Registered number: OC325924)

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

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Baker and King Building Services LLP (Registered number: OC325924)

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

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 133,067 114,572 247,639
Additions - 15,106 15,106
Disposals (133,067 ) - (133,067 )
At 31 March 2023 - 129,678 129,678
DEPRECIATION
At 1 April 2022 - 84,047 84,047
Charge for year - 10,081 10,081
At 31 March 2023 - 94,128 94,128
NET BOOK VALUE
At 31 March 2023 - 35,550 35,550
At 31 March 2022 133,067 30,525 163,592

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 21,166
Other debtors 33,153 38,654
33,153 59,820

Baker and King Building Services LLP (Registered number: OC325924)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 52,299 45,795
Taxation and social security 4,043 9,274
Other creditors 9,297 6,247
65,639 61,316

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors - 94,568

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.
There is no provision for specific legally enforceable protection afforded to creditors in such an event.
There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests