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REGISTERED NUMBER: 03619009 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Jacob Bailey Limited

Jacob Bailey Limited (Registered number: 03619009)






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


Jacob Bailey Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S R Bailey





REGISTERED OFFICE: 1 Woodbridge Road
Ipswich
Suffolk
IP4 2EA





REGISTERED NUMBER: 03619009 (England and Wales)





ACCOUNTANTS: Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL

Jacob Bailey Limited (Registered number: 03619009)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 35,143 45,204
Tangible assets 5 2,799 3,923
37,942 49,127

CURRENT ASSETS
Debtors 6 1,178,754 1,285,599
Cash at bank and in hand 96,979 124,074
1,275,733 1,409,673
CREDITORS
Amounts falling due within one year 7 238,768 375,395
NET CURRENT ASSETS 1,036,965 1,034,278
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,074,907

1,083,405

CREDITORS
Amounts falling due after more than one
year

8

(148,333

)

(156,333

)

PROVISIONS FOR LIABILITIES 9 (532 ) (7,672 )
NET ASSETS 926,042 919,400

CAPITAL AND RESERVES
Called up share capital 10 82 82
Share premium 41,445 41,445
Revaluation reserve 11 23 23
Retained earnings 884,492 877,850
SHAREHOLDERS' FUNDS 926,042 919,400

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 director acknowledges his 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.

Jacob Bailey Limited (Registered number: 03619009)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 July 2024 and were signed by:





S R Bailey - Director


Jacob Bailey Limited (Registered number: 03619009)

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

1. STATUTORY INFORMATION

Jacob Bailey 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.

Turnover
The turnover represents net invoiced sales of services, excluding value added tax, arising from advertising and marketing.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - Straight line over 5 years
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 5 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 10 (2022 - 10 ) .

Jacob Bailey Limited (Registered number: 03619009)

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

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 100,609
AMORTISATION
At 1 January 2023 55,405
Amortisation for year 10,061
At 31 December 2023 65,466
NET BOOK VALUE
At 31 December 2023 35,143
At 31 December 2022 45,204

Amortisation in the profit and loss includes amortisation charged from other group companies.

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 58,908 57,140 4,472 102,232 222,752
Additions - 270 - 1,805 2,075
Disposals - - - (1,072 ) (1,072 )
At 31 December 2023 58,908 57,410 4,472 102,965 223,755
DEPRECIATION
At 1 January 2023 58,908 57,140 3,286 99,495 218,829
Charge for year - 54 263 2,659 2,976
Eliminated on disposal - - - (849 ) (849 )
At 31 December 2023 58,908 57,194 3,549 101,305 220,956
NET BOOK VALUE
At 31 December 2023 - 216 923 1,660 2,799
At 31 December 2022 - - 1,186 2,737 3,923

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 36,333 90,164
Other debtors 1,135,469 1,168,901
Prepayments and accrued income 6,952 26,534
1,178,754 1,285,599

Jacob Bailey Limited (Registered number: 03619009)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 80,000 152,000
Trade creditors 8,194 73,126
Corporation Tax - 3,990
Social security and other taxes 24,382 28,250
Pensions payable 6,533 5,625
VAT 31,618 43,102
Other creditors 48,685 40,130
Directors' loan accounts 20,868 20,868
Accruals and deferred income 18,488 8,304
238,768 375,395

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 80,000 8,000
Bank loans - 2-5 years 68,333 148,333
148,333 156,333

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 532 7,672

Deferred
tax
£   
Balance at 1 January 2023 7,672
Provided during year (7,140 )
Balance at 31 December 2023 532

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
823 Ordinary £0.10 82 82

11. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 23

Jacob Bailey Limited (Registered number: 03619009)

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

12. SUMMARY OF TRANSACTIONS WITH DIRECTORS

The following advances by and repayments to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
S R Bailey
Balance outstanding at start of year 20,868 20,868
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,868 20,868

13. RELATED PARTY DISCLOSURES

032 Design Consultants Ltd


31.12.23 31.12.22
£    £   
Amount due from related party at the balance sheet date 38,256 19,746

Decipher Innovation Ltd


31.12.23 31.12.22
£    £   
Amount due from related party at the balance sheet date 45,520 46,723

Jacob Bailey Group Ltd


31.12.23 31.12.22
£    £   
Amount due from related party at the balance sheet date 886,474 877,206