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REGISTERED NUMBER: 03330586 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

K M Bailey Ltd

K M Bailey Ltd (Registered number: 03330586)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K M Bailey Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: K M Bailey





SECRETARY: Mrs C Bailey





REGISTERED OFFICE: Benthall Grange
Benthall Lane
Benthall
Broseley
Shropshire
TF12 5RR





REGISTERED NUMBER: 03330586 (England and Wales)





ACCOUNTANTS: Tranter Lowe (Oakengates) Limited
Chartered Accountants
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

K M Bailey Ltd (Registered number: 03330586)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 33,717 57,453
33,717 57,453

CURRENT ASSETS
Stocks - 239,040
Debtors 6 1,196 4,512
Cash at bank 199,500 53,838
200,696 297,390
CREDITORS
Amounts falling due within one year 7 163,028 150,169
NET CURRENT ASSETS 37,668 147,221
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,385

204,674

CREDITORS
Amounts falling due after more than one
year

8

25,173

32,916
NET ASSETS 46,212 171,758

CAPITAL AND RESERVES
Called up share capital 9 110 110
Retained earnings 46,102 171,648
SHAREHOLDERS' FUNDS 46,212 171,758

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 director acknowledges his 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.

K M Bailey Ltd (Registered number: 03330586)

Balance Sheet - continued
30 April 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2025 and were signed by:





K M Bailey - Director


K M Bailey Ltd (Registered number: 03330586)

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

1. STATUTORY INFORMATION

K M Bailey Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 15% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


K M Bailey Ltd (Registered number: 03330586)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 11,000
AMORTISATION
At 1 May 2023
and 30 April 2024 11,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

K M Bailey Ltd (Registered number: 03330586)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 42,719 4,425 117,129 2,452 166,725
Additions - - - 160 160
At 30 April 2024 42,719 4,425 117,129 2,612 166,885
DEPRECIATION
At 1 May 2023 40,481 4,425 61,927 2,439 109,272
Charge for year 333 - 23,543 20 23,896
At 30 April 2024 40,814 4,425 85,470 2,459 133,168
NET BOOK VALUE
At 30 April 2024 1,905 - 31,659 153 33,717
At 30 April 2023 2,238 - 55,202 13 57,453

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 97,736
DEPRECIATION
At 1 May 2023
and 30 April 2024 43,046
NET BOOK VALUE
At 30 April 2024 54,690
At 30 April 2023 54,690

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors - 2,118
VAT 595 1,810
Prepayments 601 584
1,196 4,512

K M Bailey Ltd (Registered number: 03330586)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,000 5,000
Trade creditors 6,198 1,618
Social security and other taxes 657 610
Other creditors 451 307
Directors' current accounts 136,972 129,489
Accrued expenses 3,750 3,145
163,028 150,169

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 8,090 10,833
Hire purchase contracts 7,083 12,083
25,173 32,916

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary shares £1 100 100
10 Preference 'A' shares £1 10 10
110 110