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SIMON BAILES DEVELOPMENTS LTD

Registered Number
08805981
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

SIMON BAILES DEVELOPMENTS LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

BAILES, Simon Dominic

Registered Address

2 Tannery Lane
Northallerton
DL7 8DS

Registered Number

08805981 (England and Wales)
SIMON BAILES DEVELOPMENTS LTD
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property3175,000175,000
175,000175,000
Current assets
Debtors4967178
Cash at bank and on hand36,56740,589
37,53440,767
Creditors amounts falling due within one year5(260,633)(252,457)
Net current assets (liabilities)(223,099)(211,690)
Total assets less current liabilities(48,099)(36,690)
Net assets(48,099)(36,690)
Capital and reserves
Called up share capital11
Profit and loss account(48,100)(36,691)
Shareholders' funds(48,099)(36,690)
The financial statements were approved and authorised for issue by the Director on 20 September 2024, and are signed on its behalf by:
BAILES, Simon Dominic
Director
Registered Company No. 08805981
SIMON BAILES DEVELOPMENTS LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the income statement.
2.Average number of employees

20232022
Average number of employees during the year11
3.Investment property
The property valuation was assessed by the director, on an open market value for existing use basis.

£
Fair value at 01 January 23175,000
At 31 December 23175,000
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables6262
Prepayments and accrued income905116
Total967178
5.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties257,158248,521
Accrued liabilities and deferred income3,4753,936
Total260,633252,457
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Related party transactions
During the year, the company received services from Simon Bailes Limited to the value of £8,637 (2022 - £1,440) As at the year end, £257,158 (2022 - £248,521) was due to Simon Bailes Limited and the balance is included within creditors. Simon Bailes Limited is an entity related by virtue of common directorship and ownership. No interest has been charged on this loan during the year.