Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-310truefalseConstruction of commercial buildings Construction of domestic buildings02023-06-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10520431 2023-06-01 2024-05-31 10520431 2022-06-01 2023-05-31 10520431 2024-05-31 10520431 2023-05-31 10520431 c:Director1 2023-06-01 2024-05-31 10520431 d:CurrentFinancialInstruments 2024-05-31 10520431 d:CurrentFinancialInstruments 2023-05-31 10520431 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10520431 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10520431 d:ShareCapital 2024-05-31 10520431 d:ShareCapital 2023-05-31 10520431 d:RetainedEarningsAccumulatedLosses 2024-05-31 10520431 d:RetainedEarningsAccumulatedLosses 2023-05-31 10520431 c:FRS102 2023-06-01 2024-05-31 10520431 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10520431 c:FullAccounts 2023-06-01 2024-05-31 10520431 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10520431 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company Registration Number 10520431























BAILE DEVELOPMENTS LIMITED





UNAUDITED
FINANCIAL STATEMENTS





 31 MAY 2024























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BAILE DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10520431

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
1,112,361
2,756,308

Debtors: amounts falling due within one year
 5 
341,000
77,377

Cash at bank and in hand
  
2,875
24,295

  
1,456,236
2,857,980

Creditors: amounts falling due within one year
 6 
(1,979,338)
(3,099,630)

Net current liabilities
  
 
 
(523,102)
 
 
(241,650)

Total assets less current liabilities
  
(523,102)
(241,650)

  

Net liabilities
  
(523,102)
(241,650)


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
(524,102)
(242,650)

  
(523,102)
(241,650)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by 




................................................
P G Duffy
Director

Date: 31 October 2024

The notes on pages 2 to 4 form part of these financial statements.
Page 1

 
BAILE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The company is a private company limited by shares, incorporated and domiciled in the United Kingdom. The company is a tax resident in the United Kingdom. The company trades from its registered office, Connaught House Park View, Lofthouse, Wakefield, West Yorkshire, WF3 3HA.
The principal activity of the company is the construction of domestic and commercial buildings.
These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the company operates.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. 

The following principal accounting policies have been applied:

 
2.2

Going concern

Notwithstanding the net current liabilities position at the year end, the directors have adopted the going concern basis. The company is reliant on the support of related party undertakings due to the creditor owed to Peter Duffy Limited at the year end. The shareholders and directors of Peter Duffy Limited have indicated formal support through deferral of the intercompany loans as required.
In reaching their conclusion, the directors have also considered their cash flows from a period of 12 months from the date of sign off and the availability of funding both externally and internally.
After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 2

 
BAILE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration (2023 - £NIL).


4.


Stocks

2024
2023
£
£

Work in progress (goods to be sold)
1,112,361
2,756,308


Page 3

 
BAILE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
340,000
-

Other debtors
1,000
77,377



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,751
81,512

Other taxation and social security
303,321
200

Amounts owed to associated companies
1,658,266
3,017,918

1,979,338
3,099,630








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