Company registration number 07197850 (England and Wales)
ANSELL & BAILEY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ANSELL & BAILEY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ANSELL & BAILEY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
547,500
637,500
Tangible assets
4
21,402
21,057
568,902
658,557
Current assets
Debtors
5
429,867
372,821
Cash at bank and in hand
446,156
559,228
876,023
932,049
Creditors: amounts falling due within one year
6
(182,847)
(182,338)
Net current assets
693,176
749,711
Total assets less current liabilities
1,262,078
1,408,268
Creditors: amounts falling due after more than one year
7
(340,096)
(533,902)
Provisions for liabilities
(4,964)
(3,642)
Net assets
917,018
870,724
Capital and reserves
Called up share capital
51
51
Profit and loss reserves
916,967
870,673
Total equity
917,018
870,724
ANSELL & BAILEY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 September 2024 and are signed on its behalf by:
Ms M B Francos-Taylor
Director
Company registration number 07197850 (England and Wales)
ANSELL & BAILEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Ansell & Bailey Limited is a private company limited by shares incorporated in England and Wales. The registered office is 99-101 Farringdon Road, Clerkenwell, London, England, EC1R 3BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts receivable for services net value of value added tax.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the term of the lease
Fixtures and fittings
25% on reducing balance
Computers
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ANSELL & BAILEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
15
15
ANSELL & BAILEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
1,800,000
Amortisation and impairment
At 1 April 2023
1,162,500
Amortisation charged for the year
90,000
At 31 March 2024
1,252,500
Carrying amount
At 31 March 2024
547,500
At 31 March 2023
637,500

Goodwill is being amortised over its useful economic life of twenty years. The directors consider that useful economic life of twenty years is an appropriate and reliable estimate.

4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2023
50,462
10,425
299,207
360,094
Additions
-
0
-
0
7,473
7,473
At 31 March 2024
50,462
10,425
306,680
367,567
Depreciation and impairment
At 1 April 2023
50,462
8,035
280,540
339,037
Depreciation charged in the year
-
0
597
6,531
7,128
At 31 March 2024
50,462
8,632
287,071
346,165
Carrying amount
At 31 March 2024
-
0
1,793
19,609
21,402
At 31 March 2023
-
0
2,390
18,667
21,057
ANSELL & BAILEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
308,197
224,966
Other debtors
121,670
147,855
429,867
372,821
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
27,625
23,785
Corporation tax
61,053
61,095
Other taxation and social security
73,869
63,344
Other creditors
20,300
34,114
182,847
182,338
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
340,096
533,902
8
Financial commitments, guarantees and contingent liabilities

The company had total operating lease commitments at the balance sheet date of £74,360 (2023:£123,360).

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