Company Registration No. 07265198 (England and Wales)
M K Bailey Limited
Unaudited accounts
for the year ended 31 May 2024
M K Bailey Limited
Unaudited accounts
Contents
M K Bailey Limited
Company Information
for the year ended 31 May 2024
Company Number
07265198 (England and Wales)
Registered Office
THE PADDOCK MOUNT PLEASANT
HOSE
MELTON MOWBRAY
LEICESTERSHIRE
LE14 4JX
Accountants
Barrowby Accountants Limited
Kobia, Low Road, Barrowby
Grantham
Lincs.
NG32 1DJ
M K Bailey Limited
Statement of financial position
as at 31 May 2024
Tangible assets
48,509
53,160
Inventories
355,387
81,000
Cash at bank and in hand
430,299
587,523
Creditors: amounts falling due within one year
(319,202)
(259,261)
Net current assets
556,564
474,405
Total assets less current liabilities
605,073
527,565
Provisions for liabilities
Deferred tax
(11,821)
(10,100)
Net assets
593,252
517,465
Called up share capital
2
2
Profit and loss account
593,250
517,463
Shareholders' funds
593,252
517,465
For the year ending 31 May 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 December 2024 and were signed on its behalf by
M K Bailey
Director
Company Registration No. 07265198
M K Bailey Limited
Notes to the Accounts
for the year ended 31 May 2024
M K Bailey Limited is a private company, limited by shares, registered in England and Wales, registration number 07265198. The registered office is THE PADDOCK MOUNT PLEASANT, HOSE, MELTON MOWBRAY, LEICESTERSHIRE, LE14 4JX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Total
M K Bailey Limited
Notes to the Accounts
for the year ended 31 May 2024
5
Tangible fixed assets
Total
Charge for the year
10,401
6
Deferred taxation
2024
2023
Accelerated capital allowances
11,821
10,100
Provision at start of year
10,100
(1,657)
Charged to the profit and loss account
1,721
11,757
Provision at end of year
11,821
10,100
7
Operating lease commitments
2024
2023
At 31 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
11,868
11,868
Later than one year and not later than five years
8,901
20,769
8
Transactions with related parties
Included in creditors is an interest free loan from the director amounting to £97,789 and an interest free loan from A Bailey (shareholder) amounting to £114,804 at the balance sheet date.
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).