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REGISTERED NUMBER: NI071703 (Northern Ireland)















BAGOLD LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2023






BAGOLD LIMITED (REGISTERED NUMBER: NI071703)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BAGOLD LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S D Kennedy
Mrs C J Markham
D P Markham
Mrs H Kennedy





SECRETARY: D P Markham





REGISTERED OFFICE: Forsyth House
Cromac Square
Belfast
Northern Ireland
BT2 8LA





REGISTERED NUMBER: NI071703 (Northern Ireland)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

BAGOLD LIMITED (REGISTERED NUMBER: NI071703)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,863,303 2,853,347
Investments 5 1,390,237 1,325,168
Investment property 6 2,654,459 2,532,164
6,907,999 6,710,679

CURRENT ASSETS
Stocks 2,087,784 2,036,067
Debtors 7 48,867 85,413
Investments 8 2,868,208 3,944,108
Cash at bank 673,813 825,408
5,678,672 6,890,996
CREDITORS
Amounts falling due within one year 9 13,718 86,530
NET CURRENT ASSETS 5,664,954 6,804,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,572,953

13,515,145

PROVISIONS FOR LIABILITIES 10 271,869 261,553
NET ASSETS 12,301,084 13,253,592

CAPITAL AND RESERVES
Called up share capital 11 1,481,216 1,481,216
Share premium 12 9,274,123 9,274,123
Fair value reserve 12 1,077,160 1,346,727
Retained earnings 12 468,585 1,151,526
SHAREHOLDERS' FUNDS 12,301,084 13,253,592

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

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

BAGOLD LIMITED (REGISTERED NUMBER: NI071703)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:




D P Markham - Director



Mrs C J Markham - Director


BAGOLD LIMITED (REGISTERED NUMBER: NI071703)

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

1. STATUTORY INFORMATION

Bagold Limited is a private company, limited by shares , registered in Northern Ireland. 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.

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

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

BAGOLD LIMITED (REGISTERED NUMBER: NI071703)

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

2. ACCOUNTING POLICIES - continued

Investments
Fixed asset investments are stated at cost less impairment.

Listed current asset investments are stated at fair value. Unlisted current asset investments are stated at cost less impairment.

Freehold property
Freehold land and buildings included in fixed assets primarily consists of forestry land which is stated at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 2,850,393 8,029 5,984 3,143 2,867,549
Additions 10,040 - - 1,731 11,771
At 31 March 2023 2,860,433 8,029 5,984 4,874 2,879,320
DEPRECIATION
At 1 April 2022 - 8,029 5,387 786 14,202
Charge for year - - 597 1,218 1,815
At 31 March 2023 - 8,029 5,984 2,004 16,017
NET BOOK VALUE
At 31 March 2023 2,860,433 - - 2,870 2,863,303
At 31 March 2022 2,850,393 - 597 2,357 2,853,347

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2017 1,865,520 7,488 5,984 - 1,878,992
Valuation in 2018 984,873 541 - - 985,414
Valuation in 2022 - - - 3,143 3,143
Valuation in 2023 10,040 - - 1,731 11,771
2,860,433 8,029 5,984 4,874 2,879,320

BAGOLD LIMITED (REGISTERED NUMBER: NI071703)

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

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Participating interests 690,237 625,168
Other loans 700,000 700,000
1,390,237 1,325,168

Additional information is as follows:
Interest
in
associate
£   
COST OR VALUATION
At 1 April 2022 625,168
Additions 65,069
At 31 March 2023 690,237
NET BOOK VALUE
At 31 March 2023 690,237
At 31 March 2022 625,168

Cost or valuation at 31 March 2023 is represented by:

Interest
in
associate
£   
Valuation in 2021 591,681
Valuation in 2022 33,487
Valuation in 2023 65,069
690,237
Other
loans
£   
At 1 April 2022
and 31 March 2023 700,000

BAGOLD LIMITED (REGISTERED NUMBER: NI071703)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 2,532,164
Additions 512,295
Disposals (390,000 )
At 31 March 2023 2,654,459
NET BOOK VALUE
At 31 March 2023 2,654,459
At 31 March 2022 2,532,164

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2017 2,351,839
Valuation in 2018 148,221
Valuation in 2021 176,864
Valuation in 2022 (144,760 )
Valuation in 2023 122,295
2,654,459

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,519 40,959
Other debtors 26,698 40,543
Prepayments and accrued income 19,650 3,911
48,867 85,413

8. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 2,868,208 3,944,108

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,691 17,126
Tax - 44,266
Social security and other taxes (8,049 ) 15,998
Other creditors 576 578
Accruals and deferred income 4,500 8,562
13,718 86,530

BAGOLD LIMITED (REGISTERED NUMBER: NI071703)

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

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 271,869 261,553

Deferred
tax
£   
Balance at 1 April 2022 261,553
Provided during year 10,316
Fair value adjustments
Balance at 31 March 2023 271,869

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,481,216 Ordinary £1 1,481,216 1,481,216

12. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2022 1,151,526 9,274,123 1,346,727 11,772,376
Deficit for the year (43,761 ) (43,761 )
Dividends (681,359 ) (681,359 )
Revaluation in year 42,179 - (269,567 ) (227,388 )
At 31 March 2023 468,585 9,274,123 1,077,160 10,819,868

13. RELATED PARTY DISCLOSURES

The director Mr D Markham received rental payments of £3,150 (2022 - £3,150 ) during the year from the company for the provision of office premises.

14. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as no one shareholder has a majority shareholding in the company.