BAILEY MK LIMITED

Company Registration Number:
08363262 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

BAILEY MK LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

BAILEY MK LIMITED

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 498,426 527,228
Total fixed assets: 498,426 527,228
Current assets
Stocks: 1,000,804 720,863
Debtors: 4 1,212,187 1,390,739
Cash at bank and in hand: 37,790 26,349
Total current assets: 2,250,781 2,137,951
Creditors: amounts falling due within one year: 5 (1,055,811) (1,361,015)
Net current assets (liabilities): 1,194,970 776,936
Total assets less current liabilities: 1,693,396 1,304,164
Creditors: amounts falling due after more than one year: 6 (1,119,168) (742,907)
Total net assets (liabilities): 574,228 561,257
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 574,128 561,157
Shareholders funds: 574,228 561,257

The notes form part of these financial statements

BAILEY MK LIMITED

Balance sheet statements

For the year ending 31 January 2024 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 in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 October 2024
and signed on behalf of the board by:

Name: N Bailey
Status: Director

The notes form part of these financial statements

BAILEY MK LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets and depreciation policy

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives

Other accounting policies

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

BAILEY MK LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 38 25

BAILEY MK LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible Assets

Total
Cost £
At 01 February 2023 1,421,103
Additions 89,000
At 31 January 2024 1,510,103
Depreciation
At 01 February 2023 893,875
Charge for year 117,802
At 31 January 2024 1,011,677
Net book value
At 31 January 2024 498,426
At 31 January 2023 527,228

BAILEY MK LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Debtors

2024 2023
££
Debtors due after more than one year: 120,433 217,265

BAILEY MK LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Creditors: amounts falling due within one year note

Trade Creditors 508203 Corporation Tax PAYE and Social Security 380977 Pension Autoenrollment 8653 Other Creditors 38447 Obligations under HP Financial Leases 61880 Credit Card 52633 Directors Loan Account 5018

BAILEY MK LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Creditors: amounts falling due after more than one year note

Bank Loans and overdrafts 943908 Oboigation under HP and Financial Lease 55827