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BAXTER AND HILL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BAXTER AND HILL LTD (REGISTERED NUMBER: 10335816)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BAXTER AND HILL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs R A P J Baxter
C D Baxter
Miss E L Heath





REGISTERED OFFICE: Wallfield House
87 Doles Lane
Findern
Derby
Derbyshire
DE65 6BA





REGISTERED NUMBER: 10335816 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

BAXTER AND HILL LTD (REGISTERED NUMBER: 10335816)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 636,228 648,030

CURRENT ASSETS
Debtors 5 333 1,993
Cash at bank and in hand 94,293 39,351
94,626 41,344
CREDITORS
Amounts falling due within one year 6 276,380 261,453
NET CURRENT LIABILITIES (181,754 ) (220,109 )
TOTAL ASSETS LESS CURRENT LIABILITIES 454,474 427,921

CREDITORS
Amounts falling due after more than one
year

7

(292,355

)

(302,474

)

PROVISIONS FOR LIABILITIES 9 (12,938 ) (7,138 )
NET ASSETS 149,181 118,309

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 80,131 80,131
Retained earnings 68,950 38,078
SHAREHOLDERS' FUNDS 149,181 118,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

BAXTER AND HILL LTD (REGISTERED NUMBER: 10335816)

BALANCE SHEET - continued
31 MARCH 2024


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 24 September 2024 and were signed on its behalf by:





Mrs R A P J Baxter - Director


BAXTER AND HILL LTD (REGISTERED NUMBER: 10335816)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Baxter And Hill Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BAXTER AND HILL LTD (REGISTERED NUMBER: 10335816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 639,205 6,860 54,607 6,511 707,183
Additions - 717 3,924 - 4,641
At 31 March 2024 639,205 7,577 58,531 6,511 711,824
DEPRECIATION
At 1 April 2023 32,969 3,758 17,380 5,046 59,153
Charge for year 6,994 864 8,102 483 16,443
At 31 March 2024 39,963 4,622 25,482 5,529 75,596
NET BOOK VALUE
At 31 March 2024 599,242 2,955 33,049 982 636,228
At 31 March 2023 606,236 3,102 37,227 1,465 648,030

Included in cost or valuation of land and buildings is freehold land of £ 209,394 (2023 - £ 209,394 ) which is not depreciated.

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2022 80,131 - - - 80,131
Cost 559,074 7,577 58,531 6,511 631,693
639,205 7,577 58,531 6,511 711,824

Freehold land and buildings were valued on an open market basis basis on 31 March 2022 by an independent valuer .

BAXTER AND HILL LTD (REGISTERED NUMBER: 10335816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,401
Other debtors 333 592
333 1,993

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,137 9,531
Trade creditors 8,940 12,406
Taxation and social security 36,614 30,699
Other creditors 220,689 208,817
276,380 261,453

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 292,355 302,474

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 245,341 258,119

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 302,492 312,005

The loan is secured against the freehold property.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 12,938 7,138

BAXTER AND HILL LTD (REGISTERED NUMBER: 10335816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 7,138
Provided during year 5,800
Balance at 31 March 2024 12,938

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 80,131