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REGISTERED NUMBER: 05949441 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Baileys Skip Hire and Recycling Ltd

Baileys Skip Hire and Recycling Ltd (Registered number: 05949441)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Baileys Skip Hire and Recycling Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N D Bailey
P J Tyler
Mrs L Bailey





SECRETARY: Mrs L Bailey





REGISTERED OFFICE: Grange Farm, Main Street
Little Oakley
Corby
Northamptonshire
NN18 8HA





REGISTERED NUMBER: 05949441 (England and Wales)





ACCOUNTANTS: Carter & Co
19 Warren Park Way
Enderby
Leicester
LE19 4SA

Baileys Skip Hire and Recycling Ltd (Registered number: 05949441)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,037,422 3,711,898

CURRENT ASSETS
Stocks 61,540 58,500
Debtors 5 969,162 1,399,713
Cash at bank 702,546 748,477
1,733,248 2,206,690
CREDITORS
Amounts falling due within one year 6 1,349,014 888,739
NET CURRENT ASSETS 384,234 1,317,951
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,421,656

5,029,849

CREDITORS
Amounts falling due after more than one
year

7

(3,001,613

)

(1,056,727

)

PROVISIONS FOR LIABILITIES (923,954 ) (310,022 )
NET ASSETS 9,496,089 3,663,100

CAPITAL AND RESERVES
Called up share capital 8 75,000 75,000
Revaluation reserve 9 5,912,692 -
Retained earnings 3,508,397 3,588,100
SHAREHOLDERS' FUNDS 9,496,089 3,663,100

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

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

Baileys Skip Hire and Recycling Ltd (Registered number: 05949441)

Balance Sheet - continued
31 December 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 26 February 2024 and were signed on its behalf by:





N D Bailey - Director


Baileys Skip Hire and Recycling Ltd (Registered number: 05949441)

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

1. STATUTORY INFORMATION

Baileys Skip Hire and Recycling Ltd 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 2% on cost

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Baileys Skip Hire and Recycling Ltd (Registered number: 05949441)

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

2. ACCOUNTING POLICIES - continued

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 45 (2022 - 45 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 1,103,039 5,227,022 6,330,061
Additions - 4,130,279 4,130,279
Disposals - (417,183 ) (417,183 )
Revaluations 5,912,692 - 5,912,692
At 31 December 2023 7,015,731 8,940,118 15,955,849
DEPRECIATION
At 1 January 2023 - 2,618,163 2,618,163
Charge for year - 668,616 668,616
Eliminated on disposal - (368,352 ) (368,352 )
At 31 December 2023 - 2,918,427 2,918,427
NET BOOK VALUE
At 31 December 2023 7,015,731 6,021,691 13,037,422
At 31 December 2022 1,103,039 2,608,859 3,711,898

The land was valued in accordance with the current RICS valuation - Global standards effective January 2020 on the basis of market value. This was completed on 18th November 2022 by Lambert Smith Hampton Valuations.

The property was valued in accordance with RICS Professional Statement January 2018 and is on the basis of estimated reinstatement building cost. This was completed on 12th December 2023 by Securus Risk Advisors.

In the directors opinion the valuations continue to represent the market value at the balance sheet date.

Baileys Skip Hire and Recycling Ltd (Registered number: 05949441)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 1,073,173
Additions 3,263,194
At 31 December 2023 4,336,367
DEPRECIATION
At 1 January 2023 344,459
Charge for year 311,790
At 31 December 2023 656,249
NET BOOK VALUE
At 31 December 2023 3,680,118
At 31 December 2022 728,714

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 840,087 978,394
Other debtors 129,075 421,319
969,162 1,399,713

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 20,166 32,000
Hire purchase contracts 725,841 200,204
Trade creditors 418,389 444,217
Taxation and social security 150,125 197,685
Other creditors 34,493 14,633
1,349,014 888,739

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 813,221 570,896
Hire purchase contracts 2,188,392 485,831
3,001,613 1,056,727

Baileys Skip Hire and Recycling Ltd (Registered number: 05949441)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
75,000 Ordinary £1.00 75,000 75,000

9. RESERVES
Revaluation
reserve
£   
Transfer to profit and loss 5,912,692

At 31 December 2023 5,912,692