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REGISTERED NUMBER: 04825754 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023

FOR

BAINES PROPERTIES LIMITED

BAINES PROPERTIES LIMITED (REGISTERED NUMBER: 04825754)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BAINES PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: A Baines-Holmes
Mrs J Baines-Holmes





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 04825754 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

BAINES PROPERTIES LIMITED (REGISTERED NUMBER: 04825754)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 400,000 400,000

CURRENT ASSETS
Cash at bank 18,182 10,899

CREDITORS
Amounts falling due within one year 5 145,263 148,766
NET CURRENT LIABILITIES (127,081 ) (137,867 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,919

262,133

CREDITORS
Amounts falling due after more than one
year

6

-

(2,111

)

PROVISIONS FOR LIABILITIES 7 (9,799 ) (9,799 )
NET ASSETS 263,120 250,223

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 144,325 144,325
Retained earnings 118,793 105,896
SHAREHOLDERS' FUNDS 263,120 250,223

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

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

BAINES PROPERTIES LIMITED (REGISTERED NUMBER: 04825754)

BALANCE SHEET - continued
31ST JULY 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 1st March 2024 and were signed on its behalf by:




A Baines-Holmes - Director



Mrs J Baines-Holmes - Director


BAINES PROPERTIES LIMITED (REGISTERED NUMBER: 04825754)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Baines Properties 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
The investment property has been revalued by the director. No other significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover represents rents received for the year.

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.

BAINES PROPERTIES LIMITED (REGISTERED NUMBER: 04825754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

2. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2022
and 31st July 2023 400,000
NET BOOK VALUE
At 31st July 2023 400,000
At 31st July 2022 400,000

Fair value at 31st July 2023 is represented by:
£   
Valuation in 2023 171,224
Cost 228,776
400,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 228,776 228,776

Investment property was valued on an open market basis on 31st July 2023 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,966 7,500
Tax 3,025 1,022
Directors' current accounts 139,602 139,601
Accrued expenses 670 643
145,263 148,766

BAINES PROPERTIES LIMITED (REGISTERED NUMBER: 04825754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 2,111

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,799 9,799

Deferred
tax
£   
Balance at 1st August 2022 9,799
Balance at 31st July 2023 9,799

8. RESERVES
Fair
value
reserve
£   
At 1st August 2022
and 31st July 2023 144,325