1 July 2023 v2024.35.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP021642992023-07-012024-06-30021642992024-06-30021642992023-06-3002164299core:WithinOneYear2024-06-3002164299core:WithinOneYear2023-06-3002164299core:ShareCapital2024-06-3002164299core:ShareCapital2023-06-3002164299core:OtherReservesSubtotal2024-06-3002164299core:OtherReservesSubtotal2023-06-3002164299core:RetainedEarningsAccumulatedLosses2024-06-3002164299core:RetainedEarningsAccumulatedLosses2023-06-3002164299bus:Director12023-07-012024-06-3002164299bus:RegisteredOffice2023-07-012024-06-3002164299core:PlantMachinery2023-07-012024-06-30021642992022-07-012023-06-3002164299core:PlantMachinery2023-07-0102164299core:PlantMachinery2024-06-3002164299core:PlantMachinery2023-06-30021642992022-07-010216429912023-07-012024-06-3002164299countries:EnglandWales2023-07-012024-06-3002164299bus:AuditExemptWithAccountantsReport2023-07-012024-06-3002164299bus:PrivateLimitedCompanyLtd2023-07-012024-06-3002164299bus:SmallEntities2023-07-012024-06-3002164299bus:FullAccounts2023-07-012024-06-30
Company registration number:
02164299
Baggaley & Jenkins (Remedials) Limited
Unaudited Filleted Financial Statements for the year ended
30 June 2024
Baggaley & Jenkins (Remedials) Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Baggaley & Jenkins (Remedials) Limited
Year ended
30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Baggaley & Jenkins (Remedials) Limited
for the year ended
30 June 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Baggaley & Jenkins (Remedials) Limited
, as a body. My work has been undertaken solely to prepare for your approval the
financial statements
of
Baggaley & Jenkins (Remedials) Limited
and state those matters that I have agreed to state to the Board of Directors of
Baggaley & Jenkins (Remedials) Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Baggaley & Jenkins (Remedials) Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Baggaley & Jenkins (Remedials) 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
Baggaley & Jenkins (Remedials) Limited
. You consider that
Baggaley & Jenkins (Remedials) Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Baggaley & Jenkins (Remedials) Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
HM Accountancy Services Limited
Pine House D
Ransom Wood Business Park
Mansfield
Nottinghamshire
NG21 0HJ
United Kingdom
Date:
25 July 2024
Baggaley & Jenkins (Remedials) Limited
Statement of Financial Position
30 June 2024
20242023
as restated
Note££
Fixed assets    
Tangible assets 5
24,103
 
29,513
 
Current assets    
Stocks
7,500
 
5,000
 
Debtors 6
240,304
 
79,513
 
Cash at bank and in hand
142,880
 
172,257
 
390,684
 
256,770
 
Creditors: amounts falling due within one year 7
(255,846
)
(150,965
)
Net current assets
134,838
 
105,805
 
Total assets less current liabilities 158,941   135,318  
Provisions for liabilities
(6,388
)
(7,821
)
Net assets
152,553
 
127,497
 
Capital and reserves    
Called up share capital
402
 
402
 
Other reserves
100
 
100
 
Profit and loss account
152,051
 
126,995
 
Shareholders funds
152,553
 
127,497
 
For the year ending
30 June 2024
, 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.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
25 July 2024
, and are signed on behalf of the board by:
Wayne Orange
Director
Company registration number:
02164299
Baggaley & Jenkins (Remedials) Limited
Notes to the Financial Statements
Year ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Pine House D
,
Ransom Wood Business Park
,
Mansfield
,
Nottinghamshire
,
NG21 0HJ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2022. Details of how FRS 102 has affected the reported financial position and financial performance is given in the transition to FRS 102 note.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15 - 25% RB

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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 debtors and creditors, loans from banks and other third parties.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

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 in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
8
(2023:
7.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2023
103,663
 
Additions
1,611
 
At
30 June 2024
105,274
 
Depreciation  
At
1 July 2023
74,150
 
Charge
7,021
 
At
30 June 2024
81,171
 
Carrying amount  
At
30 June 2024
24,103
 
At 30 June 2023
29,513
 

6 Debtors

20242023
££
Trade debtors
128,416
 
77,490
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
109,846
  -  
Other debtors
2,042
 
2,023
 
240,304
 
79,513
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
31,204
 
34,606
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest -  
11,598
 
Taxation and social security
109,998
 
56,219
 
Other creditors
114,644
 
48,542
 
255,846
 
150,965
 

8 Transition to FRS 102

These are the first financial statements that comply with FRS 102 Section 1A. The company transitioned to FRS 102 on 1 July 2022.
This has affected the previously reported financial position as follows:
At 1 July 2022At 30 June 2023
££
Reconciliation of equity    
Capital and reserves (as previously stated) 106,328   135,318  
Deferred Tax -   (7,821 )
Capital and reserves (restated)
106,328
 
127,497