Registered number
05616886
Baker Wilcox Limited
Filleted Accounts
31 December 2023
Applied Accountancy Limited
Baker Wilcox Limited
Registered number: 05616886
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 6,423 7,774
6,424 7,775
Current assets
Debtors 5 15,942 11,988
Cash at bank and in hand 95,725 91,398
111,667 103,386
Creditors: amounts falling due within one year 6 (40,910) (33,733)
Net current assets 70,757 69,653
Total assets less current liabilities 77,181 77,428
Provisions for liabilities (1,355) (1,477)
Net assets 75,826 75,951
Capital and reserves
Called up share capital 200 200
Profit and loss account 75,626 75,751
Shareholders' funds 75,826 75,951
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kelly Wilcox
Director
Approved by the board on 20 September 2024
Baker Wilcox Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 60,000
At 31 December 2023 60,000
Amortisation
At 1 January 2023 59,999
At 31 December 2023 59,999
Net book value
At 31 December 2023 1
At 31 December 2022 1
Goodwill has being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 29,862
Additions 790
At 31 December 2023 30,652
Depreciation
At 1 January 2023 22,088
Charge for the year 2,141
At 31 December 2023 24,229
Net book value
At 31 December 2023 6,423
At 31 December 2022 7,774
5 Debtors 2023 2022
£ £
Trade debtors 15,451 11,497
Other debtors 491 491
15,942 11,988
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,031 445
Corporation tax 16,678 15,431
Other taxes and social security costs 16,458 14,149
Other creditors 5,743 3,708
40,910 33,733
7 Other information
Baker Wilcox Limited is a private company limited by shares and incorporated in England. Its registered office is:
109 St James Park
Tunbridge Wells
Kent
TN1 2LQ
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