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REGISTERED NUMBER: 04200804 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Bailey Services Limited

Bailey Services Limited (Registered number: 04200804)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Bailey Services Limited (Registered number: 04200804)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,987 37,452

CURRENT ASSETS
Debtors 5 161,629 100,883
Cash at bank 25,614 152,837
187,243 253,720
CREDITORS
Amounts falling due within one year 6 79,765 50,210
NET CURRENT ASSETS 107,478 203,510
TOTAL ASSETS LESS CURRENT LIABILITIES 125,465 240,962

CREDITORS
Amounts falling due after more than one year 7 (29,167 ) (59,283 )

PROVISIONS FOR LIABILITIES (3,497 ) (6,865 )
NET ASSETS 92,801 174,814

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 92,799 174,812
SHAREHOLDERS' FUNDS 92,801 174,814

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2024 and were signed on its behalf by:





Mr C Bailey - Director


Bailey Services Limited (Registered number: 04200804)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Bailey Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04200804

Registered office: 46 Cheddleton Park Avenue
Cheddleton
Leek
Staffordshire
ST13 7NS

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Bailey Services Limited (Registered number: 04200804)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 17,650 3,218 8,202
Additions - - -
Disposals - - -
At 30 April 2024 17,650 3,218 8,202
DEPRECIATION
At 1 May 2023 10,394 483 5,873
Charge for year 3,530 410 582
Eliminated on disposal - - -
At 30 April 2024 13,924 893 6,455
NET BOOK VALUE
At 30 April 2024 3,726 2,325 1,747
At 30 April 2023 7,256 2,735 2,329

Bailey Services Limited (Registered number: 04200804)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 39,443 10,948 79,461
Additions 10,640 - 10,640
Disposals (39,443 ) - (39,443 )
At 30 April 2024 10,640 10,948 50,658
DEPRECIATION
At 1 May 2023 17,256 8,003 42,009
Charge for year 2,660 736 7,918
Eliminated on disposal (17,256 ) - (17,256 )
At 30 April 2024 2,660 8,739 32,671
NET BOOK VALUE
At 30 April 2024 7,980 2,209 17,987
At 30 April 2023 22,187 2,945 37,452

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 39,443
Disposals (39,443 )
At 30 April 2024 -
DEPRECIATION
At 1 May 2023 17,256
Eliminated on disposal (17,256 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 22,187

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 61,052 379
Other debtors 100,577 100,504
161,629 100,883

Bailey Services Limited (Registered number: 04200804)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,555 5,640
Hire purchase contracts - 6,342
Trade creditors 13,785 2,087
Taxation and social security 43,666 33,315
Other creditors 16,759 2,826
79,765 50,210

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 29,167 34,638
Hire purchase contracts - 24,645
29,167 59,283

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 12,078

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 30,987

The hire purchase was secured on the related asset.