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REGISTERED NUMBER: 09260643 (England and Wales)












BAIFIELD FABRICATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






BAIFIELD FABRICATIONS LIMITED (REGISTERED NUMBER: 09260643)

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


BAIFIELD FABRICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A D Field
M P Bailey





SECRETARY: Mrs C Field





REGISTERED OFFICE: Highland House
Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR





BUSINESS ADDRESS: Unit 34 Bridge Street
Bailie Gate Industrial Estate
Sturminster Marshall
Wimborne
Dorset
BH21 4DB





REGISTERED NUMBER: 09260643 (England and Wales)

BAIFIELD FABRICATIONS LIMITED (REGISTERED NUMBER: 09260643)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 130,697 65,366

CURRENT ASSETS
Stocks 28,119 28,119
Debtors 5 170,550 135,202
Cash at bank 50,520 41,152
249,189 204,473
CREDITORS
Amounts falling due within one year 6 (172,755 ) (144,455 )
NET CURRENT ASSETS 76,434 60,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,131

125,384

PROVISIONS FOR LIABILITIES (25,925 ) (8,842 )
NET ASSETS 181,206 116,542

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 180,206 115,542
181,206 116,542

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.

BAIFIELD FABRICATIONS LIMITED (REGISTERED NUMBER: 09260643)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





M P Bailey - Director


BAIFIELD FABRICATIONS LIMITED (REGISTERED NUMBER: 09260643)

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


1. STATUTORY INFORMATION

Baifield Fabrications Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards 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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically dispatched to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - 25% Reducing balance
Motor vehicles - 25% Reducing balance
Computer equipment - 33% 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 recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BAIFIELD FABRICATIONS LIMITED (REGISTERED NUMBER: 09260643)

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


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

BAIFIELD FABRICATIONS LIMITED (REGISTERED NUMBER: 09260643)

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


4. TANGIBLE FIXED ASSETS
Improvements Plant and Motor Computer
to property machinery vehicles equipment Totals
£ £ £ £ £
COST
At 1 April 2023 30,000 78,509 32,956 3,008 144,473
Additions - - 88,985 - 88,985
Disposals - - (13,995 ) - (13,995 )
At 31 March 2024 30,000 78,509 107,946 3,008 219,463
DEPRECIATION
At 1 April 2023 - 47,913 29,656 1,538 79,107
Charge for year 3,000 7,649 11,469 485 22,603
Eliminated on disposal - - (12,944 ) - (12,944 )
At 31 March 2024 3,000 55,562 28,181 2,023 88,766
NET BOOK VALUE
At 31 March 2024 27,000 22,947 79,765 985 130,697
At 31 March 2023 30,000 30,596 3,300 1,470 65,366

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 153,846 124,081
Other debtors 16,704 11,121
170,550 135,202

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 28,471 40,142
Taxation and social security 106,580 67,833
Other creditors 37,704 36,480
172,755 144,455

7. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £45,000 (2023 - £Nil).