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REGISTERED NUMBER: 11214745 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 February 2024

for

BAGBY CONSTRUCTION LTD

BAGBY CONSTRUCTION LTD (Registered number: 11214745)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BAGBY CONSTRUCTION LTD

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N J Douglas
Ms D E Barker





REGISTERED OFFICE: 37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH





REGISTERED NUMBER: 11214745 (England and Wales)





ACCOUNTANTS: Little & Neal
37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH

BAGBY CONSTRUCTION LTD (Registered number: 11214745)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,129 47,604

CURRENT ASSETS
Stocks 406,823 141,163
Debtors 5 32,956 28,914
Cash at bank 5,905 11,732
445,684 181,809
CREDITORS
Amounts falling due within one year 6 407,990 153,744
NET CURRENT ASSETS 37,694 28,065
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,823

75,669

CREDITORS
Amounts falling due after more than one
year

7

59,138

63,164
NET ASSETS 48,685 12,505

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 48,583 12,403
48,685 12,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

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:
(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.

BAGBY CONSTRUCTION LTD (Registered number: 11214745)

Balance Sheet - continued
29 February 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 10 July 2024 and were signed on its behalf by:





N J Douglas - Director


BAGBY CONSTRUCTION LTD (Registered number: 11214745)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

BAGBY CONSTRUCTION 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.

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

BAGBY CONSTRUCTION LTD (Registered number: 11214745)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 57,992
Additions 33,917
At 29 February 2024 91,909
DEPRECIATION
At 1 March 2023 10,388
Charge for year 11,392
At 29 February 2024 21,780
NET BOOK VALUE
At 29 February 2024 70,129
At 28 February 2023 47,604

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023 46,272
Additions 30,500
At 29 February 2024 76,772
DEPRECIATION
At 1 March 2023 8,676
Charge for year 9,228
At 29 February 2024 17,904
NET BOOK VALUE
At 29 February 2024 58,868
At 28 February 2023 37,596

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 32,956 28,914

BAGBY CONSTRUCTION LTD (Registered number: 11214745)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 9,180 9,180
Hire purchase contracts 16,703 7,165
Trade creditors 21,434 34,337
Taxation and social security (335 ) (13,594 )
Other creditors 361,008 116,656
407,990 153,744

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 21,653 31,653
Hire purchase contracts 37,485 31,511
59,138 63,164