Company registration number 03454676 (England and Wales)
W&V BAKER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
W&V BAKER LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
W&V BAKER LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
159,143
159,113
Current assets
Debtors
4
514
272
Investments
5
15,496
14,729
Cash at bank and in hand
6,092
17,911
22,102
32,912
Creditors: amounts falling due within one year
6
(1,286)
(2,285)
Net current assets
20,816
30,627
Net assets
179,959
189,740
Capital and reserves
Called up share capital
134,902
134,902
Profit and loss reserves
45,057
54,838
Total equity
179,959
189,740

For the financial year ended 31 March 2024 the company was entitled to exemption from audit 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 in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 November 2024 and are signed on its behalf by:
Mr WJ Baker
Director
Company registration number 03454676 (England and Wales)
W&V BAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

W&V Baker Limited is a private company limited by shares incorporated in England and Wales. The registered office is Blessem Hall, Wickerstreet Green , Kersey, Ipswich, Suffolk, IP7 6EY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Dividends received are accounted for on the basis of cash received plus the attributable tax credit, where applicable.

1.3
Tangible fixed assets

All fixed assets are initially recorded at cost.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

 

Freehold land and buildings
Not depreciated
Plant and Machinery
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

W&V BAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that is probable that they will be recovered against the reversal or deferred tax liabilities or other future taxable profits. Deferred tax is measures using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons employed by the company during the year amounted to 1 (2018: 1).

2024
2023
Number
Number
Total
1
1
W&V BAKER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Plant and Machinery
Total
£
£
£
Cost
At 1 April 2023
158,137
12,604
170,741
Additions
-
0
208
208
At 31 March 2024
158,137
12,812
170,949
Depreciation and impairment
At 1 April 2023
-
0
11,628
11,628
Depreciation charged in the year
-
0
178
178
At 31 March 2024
-
0
11,806
11,806
Carrying amount
At 31 March 2024
158,137
1,006
159,143
At 31 March 2023
158,137
976
159,113
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
1
Other debtors
514
271
514
272
5
Current asset investments
2024
2023
£
£
Other investments
15,496
14,729
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
-
0
249
Other creditors
1,286
2,036
1,286
2,285
7
Directors' transactions

There are no such transactions in the accounting period.

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