Dan Bailey Building Limited 08249704 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is construction of domestic buildings Digita Accounts Production Advanced 6.30.9574.0 true 08249704 2023-02-01 2024-01-31 08249704 2024-01-31 08249704 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-01-31 08249704 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-01-31 08249704 core:CurrentFinancialInstruments 2024-01-31 08249704 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 08249704 core:Non-currentFinancialInstruments 2024-01-31 08249704 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 08249704 core:ConstructionInProgressAssetsUnderConstruction 2024-01-31 08249704 core:MotorVehicles 2024-01-31 08249704 core:OfficeEquipment 2024-01-31 08249704 core:PlantMachinery 2024-01-31 08249704 bus:SmallEntities 2023-02-01 2024-01-31 08249704 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08249704 bus:FilletedAccounts 2023-02-01 2024-01-31 08249704 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08249704 bus:RegisteredOffice 2023-02-01 2024-01-31 08249704 bus:Director2 2023-02-01 2024-01-31 08249704 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08249704 core:Buildings 2023-02-01 2024-01-31 08249704 core:ConstructionInProgressAssetsUnderConstruction 2023-02-01 2024-01-31 08249704 core:MotorVehicles 2023-02-01 2024-01-31 08249704 core:OfficeEquipment 2023-02-01 2024-01-31 08249704 core:PlantMachinery 2023-02-01 2024-01-31 08249704 countries:EnglandWales 2023-02-01 2024-01-31 08249704 2023-01-31 08249704 core:ConstructionInProgressAssetsUnderConstruction 2023-01-31 08249704 core:MotorVehicles 2023-01-31 08249704 core:OfficeEquipment 2023-01-31 08249704 core:PlantMachinery 2023-01-31 08249704 2022-02-01 2023-01-31 08249704 2023-01-31 08249704 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-01-31 08249704 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-01-31 08249704 core:CurrentFinancialInstruments 2023-01-31 08249704 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 08249704 core:Non-currentFinancialInstruments 2023-01-31 08249704 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 08249704 core:ConstructionInProgressAssetsUnderConstruction 2023-01-31 08249704 core:MotorVehicles 2023-01-31 08249704 core:OfficeEquipment 2023-01-31 08249704 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 08249704

Dan Bailey Building Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Dan Bailey Building Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Dan Bailey Building Limited

(Registration number: 08249704)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

735,976

566,977

Investment property

5

1,865,371

1,858,350

 

2,601,347

2,425,327

Current assets

 

Stocks

6

8,940

-

Debtors

7

413,067

237,477

Cash at bank and in hand

 

226,544

416,243

 

648,551

653,720

Creditors: Amounts falling due within one year

8

(303,238)

(300,843)

Net current assets

 

345,313

352,877

Total assets less current liabilities

 

2,946,660

2,778,204

Creditors: Amounts falling due after more than one year

8

(588,833)

(636,069)

Provisions for liabilities

(350,656)

(274,415)

Net assets

 

2,007,171

1,867,720

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

906,081

980,585

Retained earnings

1,101,088

887,133

Shareholders' funds

 

2,007,171

1,867,720

 

Dan Bailey Building Limited

(Registration number: 08249704)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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.

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 Board on 11 September 2024 and signed on its behalf by:
 

.........................................
D J Bailey
Director

 

Dan Bailey Building Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of construction services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Government grants

Government grants are accounted for as revenue based grants under the accrual model in the period in which they are receivable.

Tax

The tax expense for the period comprises current tax payable and deferred 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.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Dan Bailey Building Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

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

Motor vehicles

20% straight line basis

Plant and machinery

10-20% straight line basis

Office equipment

20% straight line basis

Land and buildings

0-10% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Dan Bailey Building Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 February 2023

446,116

243,297

13,832

183,105

Additions

-

25,870

4,091

237,832

Disposals

-

(3,433)

-

(4,500)

At 31 January 2024

446,116

265,734

17,923

416,437

Depreciation

At 1 February 2023

72,993

130,372

10,660

105,348

Charge for the year

14,963

42,994

2,740

37,974

Eliminated on disposal

-

(3,310)

-

(4,500)

At 31 January 2024

87,956

170,056

13,400

138,822

Carrying amount

At 31 January 2024

358,160

95,678

4,523

277,615

At 31 January 2023

373,123

112,925

3,172

77,757

 

Dan Bailey Building Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Total
£

Cost or valuation

At 1 February 2023

886,350

Additions

267,793

Disposals

(7,933)

At 31 January 2024

1,146,210

Depreciation

At 1 February 2023

319,373

Charge for the year

98,671

Eliminated on disposal

(7,810)

At 31 January 2024

410,234

Carrying amount

At 31 January 2024

735,976

At 31 January 2023

566,977

Leased assets
Included within the net book value of tangible fixed assets is £49,578 (2023 - £74,341) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £24,763 (2023 - £24,763).

5

Investment properties

2024
£

At 1 February

1,858,350

Additions

107,888

Disposals

(103,298)

Fair value adjustments

2,431

At 31 January

1,865,371

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Work in progress

8,940

-

 

Dan Bailey Building Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

27,296

53,004

Prepayments

15,195

11,607

Other debtors

370,576

172,866

 

413,067

237,477

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

46,201

56,490

Trade creditors

 

62,708

104,985

Taxation and social security

 

156,710

139,297

Other creditors

 

37,619

71

 

303,238

300,843

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

588,833

636,069

 

Dan Bailey Building Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

44,038

45,583

Hire purchase contracts

2,163

10,907

46,201

56,490

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

543,701

587,747

Hire purchase contracts

45,132

48,322

588,833

636,069

The bank loan is secured against the investment property.

10

Related party transactions

During the year this company made loans to Bailey and Passmore Limited, Sprayite Limited and Dan Bailey Properties Limited. All companies of which D Bailey is also a director. At the balance sheet date the amount due from Bailey and Passmore Limited was £93,346 (2023: £72,985), due from Sprayitrite Limited was £164,051 and due from Dan Bailey Properties Limited was £7,026.