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REGISTERED NUMBER: 02986975 (England and Wales)

























Unaudited Financial Statements for the Year Ended 31 December 2023

for

Bailey International Steeplejack Company
Limited

Bailey International Steeplejack Company
Limited (Registered number: 02986975)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


Bailey International Steeplejack Company
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A R Bailey
Ms S Molyneux





SECRETARY: Ms S Molyneux





REGISTERED OFFICE: Bailey Business Park
Grimshaw Lane
Bollington
Macclesfield
Cheshire
SK10 5NY





REGISTERED NUMBER: 02986975 (England and Wales)





ACCOUNTANTS: IN Accountancy Limited
2 Station View
Bramhall Moor Lane
Hazel Grove
Stockport
Cheshire
SK7 5ER

Bailey International Steeplejack Company
Limited (Registered number: 02986975)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,825 103,563

CURRENT ASSETS
Stocks 27,690 168,718
Debtors 5 2,322,534 2,316,993
Cash at bank and in hand 978,945 648,172
3,329,169 3,133,883
CREDITORS
Amounts falling due within one year 6 497,100 473,941
NET CURRENT ASSETS 2,832,069 2,659,942
TOTAL ASSETS LESS CURRENT LIABILITIES 2,916,894 2,763,505

PROVISIONS FOR LIABILITIES 13,522 17,028
NET ASSETS 2,903,372 2,746,477

Bailey International Steeplejack Company
Limited (Registered number: 02986975)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 165 165
Capital redemption reserve 45 45
Retained earnings 2,903,162 2,746,267
SHAREHOLDERS' FUNDS 2,903,372 2,746,477

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.

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 Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





A R Bailey - Director


Bailey International Steeplejack Company
Limited (Registered number: 02986975)

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

1. STATUTORY INFORMATION

Bailey International Steeplejack Company 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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts for on-going services is recognised by reference to the stage of completion.

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 etc - 25% on cost, 10% on cost and at varying rates on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


Bailey International Steeplejack Company
Limited (Registered number: 02986975)

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

2. ACCOUNTING POLICIES - continued
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.

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

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.

Long-term contracts
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Bailey International Steeplejack Company
Limited (Registered number: 02986975)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of transaction.

Exchange gains and losses are recognised in the Profit and loss account.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of contractual arrangement, as either financial assets, financial liabilities or equity instruments, as defined in FRS25, Financial Instruments: Disclosure and Presentation. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 22 ) .

Bailey International Steeplejack Company
Limited (Registered number: 02986975)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 619,344
Additions 60,650
Disposals (68,100 )
At 31 December 2023 611,894
DEPRECIATION
At 1 January 2023 515,781
Charge for year 51,596
Eliminated on disposal (40,308 )
At 31 December 2023 527,069
NET BOOK VALUE
At 31 December 2023 84,825
At 31 December 2022 103,563

5. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 593,256 530,261
Other debtors 850 58,304
594,106 588,565

Amounts falling due after more than one year:
Amounts owed by associates 1,728,428 1,728,428

Aggregate amounts 2,322,534 2,316,993

Bailey International Steeplejack Company
Limited (Registered number: 02986975)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 15,926 79,846
Taxation and social security 124,391 137,647
Other creditors 356,783 256,448
497,100 473,941

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   

The company overdraft is secured by means of a debenture.

Bailey International Steeplejack Company
Limited (Registered number: 02986975)

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

8. RELATED PARTY DISCLOSURES

Bailey Business Park Limited

Bailey Business Park Limited is a company in which A Bailey has an ultimate control.

The company rents premises from Bailey Business Park Limited for £30,000 (2022: £15,600). The rent is on a full market basis. There were no outstanding balances between the two companies either at the beginning or end of the year.

Bailey Business Park (Stockport) Limited

Bailey Business Park (Stockport) Limited is a company in which A Bailey has a controlling interest.

During previous years, the company made a loan amounting to £370,000 to Bailey Business Park (Stockport) Limited. The loan is repayable on demand and the rate of interest charged is 0%. At the balance sheet date, the loan was still outstanding and is presented within debtors: falling due after one year.

Bailey Properties Management Limited

Bailey Properties Management Limited is a company in which A Bailey has a controlling interest.

During the years, the company has made a loan amounting to £1,358,428 to Bailey Properties Management Limited. The loan is repayable on demand and the rate of interest charged is 0%.
At the balance sheet date, the loan was still outstanding and is presented within debtors: falling due after one year.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A R Bailey.