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REGISTERED NUMBER: 01650221 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

R BAKER (ELECTRICAL) LIMITED

R BAKER (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01650221)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R BAKER (ELECTRICAL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B A Baker
G Baker
E Baker





SECRETARY: B A Baker





REGISTERED OFFICE: Trunker Park
Evans Road
Speke
Liverpool
L24 9PB





REGISTERED NUMBER: 01650221 (England and Wales)





ACCOUNTANTS: Additions
Chartered Accountants
One Derby Square
Liverpool
L2 9QR

R BAKER (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01650221)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 277,900 275,052
Investment property 5 400,000 370,000
677,900 645,052

CURRENT ASSETS
Stocks 104,776 99,710
Debtors 6 170,817 267,020
Cash at bank and in hand 804,856 548,436
1,080,449 915,166
CREDITORS
Amounts falling due within one year 7 472,996 303,029
NET CURRENT ASSETS 607,453 612,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,285,353

1,257,189

PROVISIONS FOR LIABILITIES 82,113 55,776
NET ASSETS 1,203,240 1,201,413

CAPITAL AND RESERVES
Called up share capital 900 900
Revaluation reserve 129,348 146,058
Fair value reserve 81,904 64,156
Retained earnings 991,088 990,299
SHAREHOLDERS' FUNDS 1,203,240 1,201,413

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:



G Baker - Director


R BAKER (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01650221)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

R Baker (Electrical) 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract. Revenue for the sale of goods is recognised upon delivery.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over 50 years
Plant and machinery - 10% on cost
Office equipment - 10% - 20% on cost
Motor vehicles - 25% on cost

Freehold land is not depreciated.

The part of the annual depreciation charge on revalued assets (and assets at deemed cost) which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.

Investment property
Investment properties for which fair value can be measured reliably are measured at fair value at each reporting date with changes in fair value recognised in profit and loss.

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

R BAKER (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01650221)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 450,745 86,613 537,358
Additions - 18,100 18,100
At 31 December 2023 450,745 104,713 555,458
DEPRECIATION
At 1 January 2023 209,722 52,584 262,306
Charge for year 9,907 5,345 15,252
At 31 December 2023 219,629 57,929 277,558
NET BOOK VALUE
At 31 December 2023 231,116 46,784 277,900
At 31 December 2022 241,023 34,029 275,052

The company applied the transitional arrangements of FRS 102 and used a previous valuation as the deemed cost for land and buildings. The property is being depreciated from the valuation date. As the assets are depreciated or sold an appropriate transfer is made from the revaluation reserve to retained earnings.

Analysis of the land and buildings valued at the date of transition to FRS 102 using the deemed cost exemption:

20232022
££
Historical cost equivalent58,65960,711
Revaluation172,457180.312
Net book value231,116241,023

Land and buildings were valued on an open market basis on 28 September 2012 by a firm of independent Chartered Surveyors.

R BAKER (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01650221)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 370,000
Fair value adjustment 30,000
At 31 December 2023 400,000
NET BOOK VALUE
At 31 December 2023 400,000
At 31 December 2022 370,000

Investment properties have been measured at fair value which is the open market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 144,276 230,482
Other debtors 26,541 36,538
170,817 267,020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 167,120 190,525
Taxation and social security 155,907 67,122
Other creditors 149,969 45,382
472,996 303,029

8. FINANCIAL COMMITMENTS

At 31 December 2023 the company had commitments under non-cancellable operating leases over the remaining life of the leases of £11,301 (2022: £11,024). The amount payable within one year in respect of these leases was £8,086 (2022: £10,656).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
B A Baker
Balance outstanding at start of year - -
Amounts advanced 142 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 142 -

R BAKER (ELECTRICAL) LIMITED (REGISTERED NUMBER: 01650221)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

G Baker
Balance outstanding at start of year 866 -
Amounts advanced 42,331 866
Amounts repaid (43,197 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 866

E Baker
Balance outstanding at start of year - -
Amounts advanced 4,039 -
Amounts repaid (2,657 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,382 -

The above loans are interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

Dividends paid to directors in their capacity as shareholders during the year included £100,283 (2022 - £18,911) to B A Baker, £143,198 (2022 - £nil) to G Baker, and £62,657 (2022 - £nil) to E Baker.