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REGISTERED NUMBER: 13676321 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 October 2023

for

BAILEY & CO WALL & FLOOR TILING LIMITED

BAILEY & CO WALL & FLOOR TILING LIMITED (REGISTERED NUMBER: 13676321)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

BAILEY & CO WALL & FLOOR TILING LIMITED

Company Information
for the Year Ended 31 October 2023







DIRECTORS: J Bailey
Mrs K Bailey





REGISTERED OFFICE: White Cottage
15 Stone Road
Stoke On Trent
ST12 9HA





REGISTERED NUMBER: 13676321 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

BAILEY & CO WALL & FLOOR TILING LIMITED (REGISTERED NUMBER: 13676321)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,468 9,761

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 5 64,036 84,542
Cash at bank 44,442 38,037
110,478 124,579
CREDITORS
Amounts falling due within one year 6 9,954 21,363
NET CURRENT ASSETS 100,524 103,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,992

112,977

CREDITORS
Amounts falling due after more than one year 7 - (1,013 )

PROVISIONS FOR LIABILITIES (3,460 ) (687 )
NET ASSETS 117,532 111,277

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 117,332 111,077
117,532 111,277

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 5 February 2024 and were signed on its behalf by:





J Bailey - Director


BAILEY & CO WALL & FLOOR TILING LIMITED (REGISTERED NUMBER: 13676321)

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


1. STATUTORY INFORMATION

Bailey & Co Wall & Floor Tiling 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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

BAILEY & CO WALL & FLOOR TILING LIMITED (REGISTERED NUMBER: 13676321)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 825 12,360 - 13,185
Additions - 24,985 1,049 26,034
Disposals - (9,386 ) - (9,386 )
At 31 October 2023 825 27,959 1,049 29,833
DEPRECIATION
At 1 November 2022 214 3,210 - 3,424
Charge for year 153 7,655 262 8,070
Eliminated on disposal - (2,129 ) - (2,129 )
At 31 October 2023 367 8,736 262 9,365
NET BOOK VALUE
At 31 October 2023 458 19,223 787 20,468
At 31 October 2022 611 9,150 - 9,761

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 4,791
DEPRECIATION
At 1 November 2022 1,244
Charge for year 887
At 31 October 2023 2,131
NET BOOK VALUE
At 31 October 2023 2,660
At 31 October 2022 3,547

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 59,870 69,710
Other debtors 4,166 14,832
64,036 84,542

BAILEY & CO WALL & FLOOR TILING LIMITED (REGISTERED NUMBER: 13676321)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 1,013 1,514
Trade creditors (1,968 ) (327 )
Taxation and social security (22,442 ) (17,097 )
Other creditors 33,351 37,273
9,954 21,363

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts - 1,013

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the share capital.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Bailey & Co Wall & Floor Tiling Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bailey & Co Wall & Floor Tiling Limited for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bailey & Co Wall & Floor Tiling Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bailey & Co Wall & Floor Tiling Limited and state those matters that we have agreed to state to the Board of Directors of Bailey & Co Wall & Floor Tiling Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bailey & Co Wall & Floor Tiling Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bailey & Co Wall & Floor Tiling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bailey & Co Wall & Floor Tiling Limited. You consider that Bailey & Co Wall & Floor Tiling Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bailey & Co Wall & Floor Tiling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


5 February 2024