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REGISTERED NUMBER: 04565012 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

V.G. Bailey (Contractors) Limited

V.G. Bailey (Contractors) Limited (Registered number: 04565012)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


V.G. Bailey (Contractors) Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: Mr V G Bailey
Mr S H Bailey





REGISTERED OFFICE: Broom House
39/43 London Road
Hadleigh
BENFLEET
Essex
SS7 2QL





REGISTERED NUMBER: 04565012 (England and Wales)





ACCOUNTANTS: BPSL
Brooms Professional Services Limited
Chartered Certified Accountants
Broom House
39/43 London Road
Hadleigh, Benfleet
Essex
SS7 2QL

V.G. Bailey (Contractors) Limited (Registered number: 04565012)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,126 18,149

CURRENT ASSETS
Debtors 5 27,155 43,256
Cash at bank 351,203 342,586
378,358 385,842
CREDITORS
Amounts falling due within one year 6 131,305 158,331
NET CURRENT ASSETS 247,053 227,511
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,179

245,660

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 260,979 245,460
SHAREHOLDERS' FUNDS 261,179 245,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 3 November 2023 and were signed on its behalf by:



Mr V G Bailey - Director



Mr S H Bailey - Director


V.G. Bailey (Contractors) Limited (Registered number: 04565012)

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

1. STATUTORY INFORMATION

V.G. Bailey (Contractors) 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.

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 - 10% on cost
Motor vehicles - 25% on reducing balance
Equipment - 10% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

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

V.G. Bailey (Contractors) Limited (Registered number: 04565012)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Equipment Totals
£    £    £    £   
COST
At 1 May 2022 509,272 115,493 5,163 629,928
Additions - - 528 528
At 30 April 2023 509,272 115,493 5,691 630,456
DEPRECIATION
At 1 May 2022 508,047 99,181 4,551 611,779
Charge for year 300 4,079 172 4,551
At 30 April 2023 508,347 103,260 4,723 616,330
NET BOOK VALUE
At 30 April 2023 925 12,233 968 14,126
At 30 April 2022 1,225 16,312 612 18,149

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors - 35,670
Other debtors 15,000 -
VAT 3,019 5,865
Prepayments 9,136 1,721
27,155 43,256

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 679 27,563
Tax 16,755 34,350
Social security and other taxes 578 506
Other creditors 2,345 17,418
Directors' current accounts 106,685 74,231
Accrued expenses 4,263 4,263
131,305 158,331