Registration number:
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:
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
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.
Bayshill Road
Cheltenham
GL50 3AT
Baker Finance Ltd
Profit and Loss Account for the Year Ended 30 November 2023
2023 |
2022 |
|
Turnover |
- |
- |
Administrative expenses |
( |
( |
Operating loss |
( |
( |
Loss before tax |
( |
( |
Loss for the financial year |
( |
( |
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 |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net liabilities |
( |
( |
|
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 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
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 |
|
( |
( |
Loss for the year |
- |
( |
( |
At 30 November 2023 |
|
( |
( |
Share capital |
Profit and loss account |
Total |
|
At 1 December 2021 |
|
( |
( |
Loss for the year |
- |
( |
( |
At 30 November 2022 |
|
( |
( |
Baker Finance Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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
Recognition and measurement
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Taxation |
At 30 November 2023, the company has tax losses of £10,798 (2022: £9,507) to carry future against future profits.
Debtors |
2023 |
2022 |
|
Other debtors |
|
|
Creditors |
2023 |
2022 |
|
Due within one year |
||
Social security and other taxes |
|
- |
Outstanding defined contribution pension costs |
|
- |
Other creditors |
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Accrued expenses |
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