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  G.M.P. BAIRD LIMITED
   
   
   
   
   
   
  DIRECTORS' REPORT AND FINANCIAL STATEMENTS
   
  FOR THE YEAR ENDED 29 FEBRUARY 2024
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  G.M.P. BAIRD LIMITED
  Company registered number: 01300692
  BALANCE SHEET AT 29 February 2024
           
    Note 2024 2023
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 2 411,796 299,989
  CURRENT ASSETS    
  Inventories   287,291 290,126
  Debtors 3 23,006 17,870
  Cash at bank and in hand   12,046 9,471
      322,343 317,467
  CREDITORS: Amounts falling due within one year 4 696,948 612,760
  NET CURRENT LIABILITIES   (374,605) (295,293)
  TOTAL ASSETS LESS CURRENT LIABILITIES   37,191 4,696
           
  CREDITORS: Amounts falling due after more than one year 5 (159,016) (137,063)
  NET LIABILITIES   121,825) 132,367)
       
  CAPITAL AND RESERVES
  Called up share capital   300 300
  Retained earnings   (122,125) (132,667)
  SHAREHOLDERS' FUNDS   121,825) 132,367)
       
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  G.M.P. BAIRD LIMITED
  Company registered number: 01300692
  BALANCE SHEET AT 29 February 2024 (CONT.)
           
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption 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 ended 29 February 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
       
  These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies
       
  All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 29 February 2024 in accordance with Section 444 (2A) of the Companies Act 2006
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered
  The financial statements were approved and authorised for issue by the board of directors on 07 October 2024
 
  Signed on behalf of the board of directors
 
 
       
  G.M.P.Baird, Director
       
       
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  G.M.P. BAIRD LIMITED
  NOTES TO THE FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 29 FEBRUARY 2024
         
a. Statement of compliance
         
  G.M.P. Baird Limited is a private company limited by shares incorporated in England.
         
  Registered office:
  Tonge Industrial Estate
Hypatia Street
Bury New Road
Bolton
BL2 6AA
         
b. Basis of accounting
         
  These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
d. Taxation
         
         
  Taxation represents the sum of corporation tax currently payable. The company's liability for corporation tax is calculated using tax rates that have been enacted by the end of the reporting period.
       
e. Fixed assets
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant, equipment, fixtures and fittings Reducing balance 20%  
  Motor vehicles Reducing balance 20%  
         
f. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
   
   
   
   
   
   
   
   
   
   
  G.M.P. BAIRD LIMITED
  NOTES TO THE FINANCIAL STATEMENTS (CONT.)
  FOR THE YEAR ENDED 29 FEBRUARY 2024
         
g. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
h. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
       
       
1. EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2024 2023
    No. No.
  Persons employed, including directors 12 12
    12 12
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  G.M.P. BAIRD LIMITED
  NOTES TO THE FINANCIAL STATEMENTS (CONT.)
  FOR THE YEAR ENDED 29 FEBRUARY 2024
         
2. TANGIBLE ASSETS
      Vehicles,  
    Short Plant &  
    Leasehold Machinery Total
    £ £ £
  Cost
         
  At 1 March 2023 8,850 1,035,311 1,044,161
  Additions other than through business combinations - 223,665 223,665
  Disposals - (55,000) (55,000)
  At 29 February 2024 8,850 1,203,976 1,212,826
   
  Depreciation
         
  At 1 March 2023 8,849 735,323 744,172
  Disposals - (46,090) (46,090)
  For the year - 102,948 102,948
  At 29 February 2024 8,849 792,181 801,030
   
  Net Book Amounts
         
  At 29 February 2024 1 411,795 411,796
  At 28 February 2023 1 299,988 299,989
   
       
       
3. DEBTORS 2024 2023
    £ £
  Trade debtors 5,280 4,665
  Other debtors 17,726 13,205
    £23,006 £17,870
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  G.M.P. BAIRD LIMITED
  NOTES TO THE FINANCIAL STATEMENTS (CONT.)
  FOR THE YEAR ENDED 29 FEBRUARY 2024
       
       
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2024 2023
    £ £
  Sundry loans 21,627 16,000
  Bank loans and overdrafts 13,359 13,139
  Finance leases and hire purchase contracts 88,467 45,467
  Trade creditors 473,196 275,527
  Loan from a director 65,536 204,803
  Other taxes and social security 28,131 51,023
  Other creditors 6,632 6,801
    £696,948 £612,760
   
  Of the creditors falling due within and after more than one year, the obligations under finance leases and hire purchase contracts totalling £218,797 (2023: £118,389) are secured on the assets concerned.
       
  The loan from a director is repayable on demand and interest-free.
       
       
5. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2024 2023
    £ £
  Sundry loans 15,687 40,852
  Bank loans 12,999 23,289
  Finance leases and hire purchase contracts 130,330 72,922
    £159,016 £137,063
   
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank loans 10,163 9,936
  leases and hire purchese 88,467 45,467
  sundry loans 21,627 16,000
  within 2-5 years
  bank loans 12,999 23,289
  leases and hire purchase 130,330 72,922
  sundry loans 15,687 40,852
    £279,273 £208,466