Registration number:
Bailfarm Limited
(Companies House version)
for the Year Ended 31 March 2024
Bailfarm Limited
Contents
Accountants' Report |
|
Abridged Balance Sheet |
|
Notes to the Unaudited Abridged Financial Statements |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bailfarm Limited
for the Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bailfarm Limited for the year ended 31 March 2024 as set out on pages 2 to 5 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/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Bailfarm Limited, 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 Bailfarm Limited and state those matters that we have agreed to state to the Board of Directors of Bailfarm Limited, 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 Bailfarm Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bailfarm Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bailfarm Limited. You consider that Bailfarm Limited 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 Bailfarm Limited. 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.
......................................
Chartered Accountants
7 Gregory Boulevard
Nottingham
NG7 6LB
Bailfarm Limited
(Registration number: 01385178)
Abridged Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|||
£ |
£ |
||||
Fixed assets |
|||||
Tangible assets |
|
|
|||
Investment property |
|
|
|||
|
|
||||
Current assets |
|||||
Debtors |
|
|
|||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts falling due within one year |
( |
( |
|||
Net current assets |
|
|
|||
Total assets less current liabilities |
|
|
|||
Provisions for liabilities |
( |
( |
|||
Accruals and deferred income |
( |
( |
|||
Net assets |
|
|
|||
Capital and reserves |
|||||
Called up share capital |
|
|
|||
Revaluation reserve |
|
|
|||
Profit and loss account |
|
|
|||
Shareholders' funds |
|
|
Bailfarm Limited
(Registration number: 01385178)
Abridged Balance Sheet as at 31 March 2024
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge 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.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Bailfarm Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Basis of preparation of financial statements
These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% reducing balance |
Motor vehicles |
25% reducing balance |
Other property, plant and equipment |
25% reducing balance |
Bailfarm Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024
Investment properties
Staff numbers |
During the year, the average number of employees and directors at the company was
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
|
Cost or valuation |
||||
At 1 April 2023 |
|
|
|
|
Additions |
|
- |
- |
|
At 31 March 2024 |
|
|
|
|
Depreciation |
||||
At 1 April 2023 |
|
|
|
|
Charge for the year |
|
|
- |
|
At 31 March 2024 |
|
|
|
|
Carrying amount |
||||
At 31 March 2024 |
|
|
|
|
At 31 March 2023 |
|
|
|
|
Investment properties
2024 |
|
At 1 April |
|
At 31 March |
|
The investment properties were revalued by the directors of the company on 31 March 2022.