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REGISTERED NUMBER: 05015515 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Richard Baggott Limited

Richard Baggott Limited (Registered number: 05015515)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Richard Baggott Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: R M F Baggott
Mrs S M A Baggott





SECRETARY: Mrs S M A Baggott





REGISTERED OFFICE: The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN





REGISTERED NUMBER: 05015515 (England and Wales)





ACCOUNTANTS: Ashmole & Co.
Chartered Certified Accountants
The Old School
The Quay
Carmarthen
Carmarthenshire
SA31 3LN

Richard Baggott Limited (Registered number: 05015515)

Abridged Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 77,548 91,637
77,548 91,637

CURRENT ASSETS
Stocks 590,000 562,000
Debtors 73,330 27,080
Cash at bank 183,870 236,270
847,200 825,350
CREDITORS
Amounts falling due within one year 37,506 28,623
NET CURRENT ASSETS 809,694 796,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

887,242

888,364

PROVISIONS FOR LIABILITIES 14,734 17,412
NET ASSETS 872,508 870,952

CAPITAL AND RESERVES
Called up share capital 580 580
Retained earnings 871,928 870,372
SHAREHOLDERS' FUNDS 872,508 870,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Richard Baggott Limited (Registered number: 05015515)

Abridged Balance Sheet - continued
31 January 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 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 by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





R M F Baggott - Director


Richard Baggott Limited (Registered number: 05015515)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Richard Baggott 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 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on reducing balance

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

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.

Goodwill
The company acquired goodwill of £30,000 in 2004. The goodwill is now being amortised evenly over its estimated useful life of five years.

3. EMPLOYEES AND DIRECTORS

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

Richard Baggott Limited (Registered number: 05015515)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 30,000
AMORTISATION
At 1 February 2023
and 31 January 2024 30,000
NET BOOK VALUE

At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 142,278
DEPRECIATION
At 1 February 2023 50,641
Charge for year 14,089
At 31 January 2024 64,730
NET BOOK VALUE
At 31 January 2024 77,548
At 31 January 2023 91,637

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Director Loan Account

Amount owing to the directors as at 01/02/23 £ 17
Movement in the period £ 8
Amount owing to the directors as at 31/01/24 £ 9

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs R Baggott.