Bailey and Passmore Lettings Limited 09783731 true 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of letting of real estate. Digita Accounts Production Advanced 6.30.9574.0 true Mr N I Passmore Mr D J Bailey true 09783731 2023-09-01 2024-08-31 09783731 2024-08-31 09783731 core:RetainedEarningsAccumulatedLosses 2024-08-31 09783731 core:ShareCapital 2024-08-31 09783731 core:CurrentFinancialInstruments 2024-08-31 09783731 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09783731 bus:FRS102 2023-09-01 2024-08-31 09783731 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09783731 bus:FullAccounts 2023-09-01 2024-08-31 09783731 bus:RegisteredOffice 2023-09-01 2024-08-31 09783731 bus:Director1 2023-09-01 2024-08-31 09783731 bus:Director2 2023-09-01 2024-08-31 09783731 bus:EntityNoLongerTradingButTradedInPast 2023-09-01 2024-08-31 09783731 bus:Consolidated 2023-09-01 2024-08-31 09783731 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09783731 core:ParentEntities 2023-09-01 2024-08-31 09783731 countries:EnglandWales 2023-09-01 2024-08-31 09783731 2022-09-01 2023-08-31 09783731 2023-08-31 09783731 core:RetainedEarningsAccumulatedLosses 2023-08-31 09783731 core:ShareCapital 2023-08-31 09783731 core:CurrentFinancialInstruments 2023-08-31 09783731 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 09783731

Bailey and Passmore Lettings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Bailey and Passmore Lettings Limited

Profit and Loss Account for the Year Ended 31 August 2024

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Bailey and Passmore Lettings Limited

(Registration number: 09783731)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Cash at bank and in hand

 

100

100

Creditors: Amounts falling due within one year

4

(92,109)

(92,109)

Net liabilities

 

(92,009)

(92,009)

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

(92,109)

(92,109)

Shareholders' deficit

 

(92,009)

(92,009)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 October 2024 and signed on its behalf by:
 

.........................................
Mr N I Passmore
Director

 

Bailey and Passmore Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis despite the company having net liabilities of £92,009 at 31 August 2024 (£92,009 - 2023). The company is fully supported by the ultimate parent company.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Bailey and Passmore Lettings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Cash and cash equivalents

2024
£

2023
£

Cash on hand

100

100

4

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

56,609

56,609

Other payables

 

35,500

35,500

 

92,109

92,109

5

Share capital

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

56,609

56,609

7

Related party transactions

Summary of transactions with parent

The company's parent is Bailey & Passmore Properties Limited, incorporated in England and Wales.


  Bailey & Passmore Properties Limited (a company of which N Passmore is also a Director) supported the
company. At the balance sheet date the amount due to Bailey & Passmore Properties Limited was £56,609
(2023: £56,609).

8

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).