2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 23,784 23,784 xbrli:pure xbrli:shares iso4217:GBP 05651552 2023-01-01 2023-12-31 05651552 2023-12-31 05651552 2022-12-31 05651552 2022-01-01 2022-12-31 05651552 2022-12-31 05651552 2021-12-31 05651552 core:PlantMachinery 2023-01-01 2023-12-31 05651552 bus:Director1 2023-01-01 2023-12-31 05651552 bus:Director2 2023-01-01 2023-12-31 05651552 core:PlantMachinery 2023-12-31 05651552 core:WithinOneYear 2023-12-31 05651552 core:WithinOneYear 2022-12-31 05651552 core:ShareCapital 2023-12-31 05651552 core:ShareCapital 2022-12-31 05651552 core:RetainedEarningsAccumulatedLosses 2023-12-31 05651552 core:RetainedEarningsAccumulatedLosses 2022-12-31 05651552 bus:SmallEntities 2023-01-01 2023-12-31 05651552 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05651552 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05651552 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05651552 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 05651552
Baines Newman Construction Limited
Filleted Unaudited Financial Statements
31 December 2023
Baines Newman Construction Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Work in progress
250,000
250,000
Debtors
7
100
100
Cash at bank and in hand
1,718
1,628
---------
---------
251,818
251,728
Creditors: amounts falling due within one year
8
576,995
550,030
---------
---------
Net current liabilities
325,177
298,302
---------
---------
Total assets less current liabilities
( 325,177)
( 298,302)
---------
---------
Net liabilities
( 325,177)
( 298,302)
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 326,177)
( 299,302)
---------
---------
Shareholders deficit
( 325,177)
( 298,302)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr S J Newman
Mr M R Baines
Director
Director
Company registration number: 05651552
Baines Newman Construction Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Embla Close, Bedford, Beds, MK41 0WR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% straight line
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 January 2023 and 31 December 2023
23,784
23,784
--------
--------
Depreciation
At 1 January 2023 and 31 December 2023
23,784
23,784
--------
--------
Carrying amount
At 31 December 2023
--------
--------
At 31 December 2022
--------
--------
6. Work in progress
The directors have decided to market the partially developed properties and consider that the net realisable value in their current state is £250,000. This represents an impairment loss of £261,214 (2022 - £235,775).
7. Debtors
2023
2022
£
£
Other debtors
100
100
----
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
576,995
550,030
---------
---------