4 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,640,000 22,229 2,662,229 2,662,229 2,640,000 123,040 96,340 26,700 26,700 xbrli:pure xbrli:shares iso4217:GBP 01026934 2022-04-01 2023-03-31 01026934 2023-03-31 01026934 2022-03-31 01026934 2021-04-01 2022-03-31 01026934 2022-03-31 01026934 2021-03-31 01026934 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01026934 bus:Director6 2022-04-01 2023-03-31 01026934 bus:Director9 2022-04-01 2023-03-31 01026934 core:WithinOneYear 2023-03-31 01026934 core:WithinOneYear 2022-03-31 01026934 core:LandBuildings 2022-04-01 2023-03-31 01026934 core:ShareCapital 2023-03-31 01026934 core:ShareCapital 2022-03-31 01026934 core:CapitalRedemptionReserve 2023-03-31 01026934 core:CapitalRedemptionReserve 2022-03-31 01026934 core:RetainedEarningsAccumulatedLosses 2023-03-31 01026934 core:RetainedEarningsAccumulatedLosses 2022-03-31 01026934 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 01026934 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-03-31 01026934 core:Non-currentFinancialInstruments 2023-03-31 01026934 core:Non-currentFinancialInstruments 2022-03-31 01026934 core:LandBuildings 2023-03-31 01026934 core:LandBuildings 2022-03-31 01026934 core:LandBuildings 2022-03-31 01026934 bus:SmallEntities 2022-04-01 2023-03-31 01026934 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 01026934 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01026934 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01026934 bus:FullAccounts 2022-04-01 2023-03-31 01026934 bus:OrdinaryShareClass1 2023-03-31 01026934 bus:OrdinaryShareClass1 2022-03-31
COMPANY REGISTRATION NUMBER: 01026934
Bakers Properties Limited
Filleted Unaudited Financial Statements
31 March 2023
Bakers Properties Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
2,662,229
2,640,000
Investments
6
26,700
26,700
------------
------------
2,688,929
2,666,700
Current assets
Debtors
7
5,642
3,342
Cash at bank and in hand
267,209
255,147
---------
---------
272,851
258,489
Creditors: amounts falling due within one year
8
97,871
98,519
---------
---------
Net current assets
174,980
159,970
------------
------------
Total assets less current liabilities
2,863,909
2,826,670
Provisions
Taxation including deferred tax
105,945
105,945
------------
------------
Net assets
2,757,964
2,720,725
------------
------------
Capital and reserves
Called up share capital
9
111,182
111,182
Capital redemption reserve
3,103
3,103
Profit and loss account
2,643,679
2,606,440
------------
------------
Shareholders funds
2,757,964
2,720,725
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bakers Properties Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
SD Wood
AR Wood
Director
Director
Company registration number: 01026934
Bakers Properties Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year.
Income tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Tangible assets
All fixed assets are initially recorded at cost.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Land and buildings
£
Cost
At 1 April 2022
2,640,000
Additions
22,229
------------
At 31 March 2023
2,662,229
------------
Depreciation
At 1 April 2022 and 31 March 2023
------------
Carrying amount
At 31 March 2023
2,662,229
------------
At 31 March 2022
2,640,000
------------
The properties were professionally valued at £1,775,000 in October 2009 by Chartered Surveyors, on a current use open market basis. Since this date, the properties have been internally valued by the directors, one of which has a background in property surveying. The directors do not believe the values of the properties to be materially different from those stated in the balance sheet. No depreciation is provided in respect of these properties. On a historical cost basis these properties would have been included at an original cost of £1,121,262 (2022: £1,099,033).
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2022 and 31 March 2023
123,040
---------
Impairment
At 1 April 2022 and 31 March 2023
96,340
---------
Carrying amount
At 31 March 2023
26,700
---------
At 31 March 2022
26,700
---------
The company owns 100% of the share capital of Bakers & Sons (Danbury) Limited.
The company was dormant throughout the current and previous year.
7. Debtors
2023
2022
£
£
Prepayments and accrued income
5,642
3,342
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
26,701
26,700
Accruals and deferred income
35,053
34,427
Corporation tax
22,446
23,640
Other taxes and social security costs
2,131
2,212
Other creditors
11,540
11,540
--------
--------
97,871
98,519
--------
--------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
111,182
111,182
111,182
111,182
---------
---------
---------
---------