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Registration number: 09310154



Baker Finance Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Baker Finance Ltd

Director's Report for the Year Ended 30 November 2023

The report and the financial statements for the year ended 30 November 2023.

Director of the company

The director who held office during the year was as follows:

J N G Swanston - Company secretary and director

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 21 August 2024 and signed on its behalf by:


J N G Swanston
Company secretary and director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of Baker Finance Ltd for the Year Ended 30 November 2023
 

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Baker Finance Ltd for the year ended 30 November 2023 as set out on pages 3 to 7 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Baker Finance Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Baker Finance Ltd. You consider that Baker Finance Ltd 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 accounts of Baker Finance Ltd. 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 accounts.





Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

21 August 2024

 

Baker Finance Ltd

Profit and Loss Account for the Year Ended 30 November 2023

2023
 £

2022
 £

Turnover

-

-

Administrative expenses

(1,291)

(1,154)

Operating loss

(1,291)

(1,154)

Loss before tax

(1,291)

(1,154)

Loss for the financial year

(1,291)

(1,154)

The above results were derived from continuing operations.

The company has no other comprehensive income for the year.

 

Baker Finance Ltd

(Registration number: 09310154)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Current assets

 

Stocks

7,130

7,130

Debtors

5

2,659

92

Cash at bank and in hand

 

2,584

107

 

12,373

7,329

Creditors: Amounts falling due within one year

6

(19,598)

(13,263)

Net liabilities

 

(7,225)

(5,934)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(7,226)

(5,935)

Shareholders' deficit

 

(7,225)

(5,934)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 August 2024
 


J N G Swanston
Company secretary and director

 

Baker Finance Ltd

Statement of Changes in Equity for the Year Ended 30 November 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 December 2022

1

(5,935)

(5,934)

Loss for the year

-

(1,291)

(1,291)

At 30 November 2023

1

(7,226)

(7,225)

Share capital
£

Profit and loss account
£

Total
£

At 1 December 2021

1

(4,781)

(4,780)

Loss for the year

-

(1,154)

(1,154)

At 30 November 2022

1

(5,935)

(5,934)

 

Baker Finance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Greswolde House
31 Beechnut Lane
Solihull
B91 2NN

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Baker Finance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

4

Taxation

At 30 November 2023, the company has tax losses of £10,798 (2022: £9,507) to carry future against future profits.

 

5

Debtors

2023
 £

2022
 £

Other debtors

2,659

92

 

6

Creditors

2023
 £

2022
 £

Due within one year

Social security and other taxes

2,055

-

Outstanding defined contribution pension costs

244

-

Other creditors

16,774

12,738

Accrued expenses

525

525

19,598

13,263