2023-05-012024-04-302024-04-30false03362018R.A. BAILLIE LTD2024-10-16falseiso4217:GBPxbrli:pure033620182023-05-01033620182024-04-30033620182023-05-012024-04-30033620182022-05-01033620182023-04-30033620182022-05-012023-04-3003362018bus:SmallEntities2023-05-012024-04-3003362018bus:AuditExempt-NoAccountantsReport2023-05-012024-04-3003362018bus:FullAccounts2023-05-012024-04-3003362018bus:PrivateLimitedCompanyLtd2023-05-012024-04-3003362018core:WithinOneYear2024-04-3003362018core:AfterOneYear2024-04-3003362018core:WithinOneYear2023-04-3003362018core:AfterOneYear2023-04-3003362018core:ShareCapital2024-04-3003362018core:SharePremium2024-04-3003362018core:RevaluationReserve2024-04-3003362018core:OtherReservesSubtotal2024-04-3003362018core:RetainedEarningsAccumulatedLosses2024-04-3003362018core:ShareCapital2023-04-3003362018core:SharePremium2023-04-3003362018core:RevaluationReserve2023-04-3003362018core:OtherReservesSubtotal2023-04-3003362018core:RetainedEarningsAccumulatedLosses2023-04-3003362018core:LandBuildings2024-04-3003362018core:PlantMachinery2024-04-3003362018core:Vehicles2024-04-3003362018core:FurnitureFittings2024-04-3003362018core:OfficeEquipment2024-04-3003362018core:NetGoodwill2024-04-3003362018core:IntangibleAssetsOtherThanGoodwill2024-04-3003362018core:ListedExchangeTraded2024-04-3003362018core:UnlistedNon-exchangeTraded2024-04-3003362018core:LandBuildings2023-04-3003362018core:PlantMachinery2023-04-3003362018core:Vehicles2023-04-3003362018core:FurnitureFittings2023-04-3003362018core:OfficeEquipment2023-04-3003362018core:NetGoodwill2023-04-3003362018core:IntangibleAssetsOtherThanGoodwill2023-04-3003362018core:ListedExchangeTraded2023-04-3003362018core:UnlistedNon-exchangeTraded2023-04-3003362018core:LandBuildings2023-05-012024-04-3003362018core:PlantMachinery2023-05-012024-04-3003362018core:Vehicles2023-05-012024-04-3003362018core:FurnitureFittings2023-05-012024-04-3003362018core:OfficeEquipment2023-05-012024-04-3003362018core:NetGoodwill2023-05-012024-04-3003362018core:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3003362018core:ListedExchangeTraded2023-05-012024-04-3003362018core:UnlistedNon-exchangeTraded2023-05-012024-04-3003362018core:MoreThanFiveYears2023-05-012024-04-3003362018core:Non-currentFinancialInstruments2024-04-3003362018core:Non-currentFinancialInstruments2023-04-3003362018dpl:CostSales2023-05-012024-04-3003362018dpl:DistributionCosts2023-05-012024-04-3003362018core:LandBuildings2023-05-012024-04-3003362018core:PlantMachinery2023-05-012024-04-3003362018core:Vehicles2023-05-012024-04-3003362018core:FurnitureFittings2023-05-012024-04-3003362018core:OfficeEquipment2023-05-012024-04-3003362018dpl:AdministrativeExpenses2023-05-012024-04-3003362018core:NetGoodwill2023-05-012024-04-3003362018core:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3003362018dpl:GroupUndertakings2023-05-012024-04-3003362018dpl:ParticipatingInterests2023-05-012024-04-3003362018dpl:GroupUndertakingscore:ListedExchangeTraded2023-05-012024-04-3003362018core:ListedExchangeTraded2023-05-012024-04-3003362018dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-05-012024-04-3003362018core:UnlistedNon-exchangeTraded2023-05-012024-04-3003362018dpl:CostSales2022-05-012023-04-3003362018dpl:DistributionCosts2022-05-012023-04-3003362018core:LandBuildings2022-05-012023-04-3003362018core:PlantMachinery2022-05-012023-04-3003362018core:Vehicles2022-05-012023-04-3003362018core:FurnitureFittings2022-05-012023-04-3003362018core:OfficeEquipment2022-05-012023-04-3003362018dpl:AdministrativeExpenses2022-05-012023-04-3003362018core:NetGoodwill2022-05-012023-04-3003362018core:IntangibleAssetsOtherThanGoodwill2022-05-012023-04-3003362018dpl:GroupUndertakings2022-05-012023-04-3003362018dpl:ParticipatingInterests2022-05-012023-04-3003362018dpl:GroupUndertakingscore:ListedExchangeTraded2022-05-012023-04-3003362018core:ListedExchangeTraded2022-05-012023-04-3003362018dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-05-012023-04-3003362018core:UnlistedNon-exchangeTraded2022-05-012023-04-3003362018core:NetGoodwill2024-04-3003362018core:IntangibleAssetsOtherThanGoodwill2024-04-3003362018core:LandBuildings2024-04-3003362018core:PlantMachinery2024-04-3003362018core:Vehicles2024-04-3003362018core:FurnitureFittings2024-04-3003362018core:OfficeEquipment2024-04-3003362018core:AfterOneYear2024-04-3003362018core:WithinOneYear2024-04-3003362018core:ListedExchangeTraded2024-04-3003362018core:UnlistedNon-exchangeTraded2024-04-3003362018core:ShareCapital2024-04-3003362018core:SharePremium2024-04-3003362018core:RevaluationReserve2024-04-3003362018core:OtherReservesSubtotal2024-04-3003362018core:RetainedEarningsAccumulatedLosses2024-04-3003362018core:NetGoodwill2023-04-3003362018core:IntangibleAssetsOtherThanGoodwill2023-04-3003362018core:LandBuildings2023-04-3003362018core:PlantMachinery2023-04-3003362018core:Vehicles2023-04-3003362018core:FurnitureFittings2023-04-3003362018core:OfficeEquipment2023-04-3003362018core:AfterOneYear2023-04-3003362018core:WithinOneYear2023-04-3003362018core:ListedExc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R.A. BAILLIE LTD

Registered Number
03362018
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

R.A. BAILLIE LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

Mr R A Baillie

Company Secretary

Mrs N F Baillie

Registered Address

Ivy House
Kirmond-Le-Mire
Market Rasen
LN8 6HZ

Registered Number

03362018 (England and Wales)
R.A. BAILLIE LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets34,2954,832
Tangible assets41,691,2941,417,764
1,695,5891,422,596
Current assets
Stocks5545,295626,670
Debtors6157,773151,521
Current asset investments72,8322,832
Cash at bank and on hand1,3941,403
707,294782,426
Creditors amounts falling due within one year8(974,552)(938,204)
Net current assets (liabilities)(267,258)(155,778)
Total assets less current liabilities1,428,3311,266,818
Creditors amounts falling due after one year9(567,346)(410,810)
Provisions for liabilities13(50,618)(60,891)
Net assets810,367795,117
Capital and reserves
Called up share capital100100
Revaluation reserve228,385228,385
Profit and loss account581,882566,632
Shareholders' funds810,367795,117
The financial statements were approved and authorised for issue by the Director on 16 October 2024, and are signed on its behalf by:
Mr R A Baillie
Director
Registered Company No. 03362018
R.A. BAILLIE LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Plant and machinery15-
Fixtures and fittings15-
Vehicles25-
Office Equipment15-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average costing (AVCO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year911
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 May 235,3695,369
At 30 April 245,3695,369
Amortisation and impairment
At 01 May 23537537
Charge for year537537
At 30 April 241,0741,074
Net book value
At 30 April 244,2954,295
At 30 April 234,8324,832
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 May 23375,160556,516319,524828,33821,2862,100,824
Additions-133,280181,37748,090-362,747
Disposals--(79,256)(3,600)-(82,856)
At 30 April 24375,160689,796421,645872,82821,2862,380,715
Depreciation and impairment
At 01 May 237,639176,511145,138345,6598,113683,060
Charge for year1,00618,57420,42738,0531,79679,856
On disposals--(70,016)(3,479)-(73,495)
At 30 April 248,645195,08595,549380,2339,909689,421
Net book value
At 30 April 24366,515494,711326,096492,59511,3771,691,294
At 30 April 23367,521380,005174,386482,67913,1731,417,764
The fair value of the company's land was revalued on 30 April 2015. An independent valuer was not involved. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £100,794 (2023 - £100,794).
5.Stocks

2024

2023

££
Work in progress412,975531,149
Finished goods132,32095,521
Total545,295626,670
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables115,429108,647
Other debtors10,22011,308
Prepayments and accrued income32,12431,566
Total157,773151,521
7.Current asset investments
Other investments: Balance at 30 April 23 £2,832 Balance at 30 April 24 £2,832
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables180,426333,319
Bank borrowings and overdrafts461,035348,274
Taxation and social security4,7577,258
Finance lease and HP contracts183,979134,567
Other creditors123,22782,325
Accrued liabilities and deferred income21,12832,461
Total974,552938,204
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts154,923103,123
Other creditors412,423307,687
Total567,346410,810
10.Creditors: amounts due after 5 years
Borrowings due after more than five years by instalments totals £61,771 (2023 - £40,948). Interest is charged at market rate.
11.Secured creditors
Bank borrowings Bank overdraft is denominated in £ with interest charged at market rate. The carrying amount at year end is £299,332 (2023 - £223,989). The bank overdraft is secured by fixed and floating charges of the assets of the company, together with collateral security furnished by the Director. Bounce back loan is denominated in £ with interest charged at a nominal rate. The carrying amount at year end is £23,274 (2023 - £33,205). Bank loan is denominated in £ with interest charged at 5%. The carrying amount at year end is £25,531 (2023 - £37,891). The bank loan is secured by fixed and floating charges over the assets of the company, together with collateral security furnished by the Director. Other borrowings Hire purchase contracts with a carrying amount of £596,401 (2023 - £442,254) are denominated in £ with a nominal interest rate of market rate. The hire purchase liabilities are secured on the related assets. Other borrowings with a carrying amount of £20,833 (2023 - £45,833) are denominated in £ with a nominal interest rate of market rate. Other borrowings with a carrying amount of £81,250 (2023 - £Nil) are denominated in £ with a nominal interest rate of market rate. Other borrowings with a carrying amount of £68,668 (2023 - £31,524) are denominated in £ with a nominal interest rate of 5%. Other borrowings with a carrying amount of £17,308 (2023 - £16,243) are denominated in £ with a nominal interest rate of market rate. Other borrowings with a carrying amount of £79,761 (2023 - £62,712) are denominated in £ with a nominal interest rate of 3% over Bank of England base rate. The borrowings are secured by personal guarantee and indemnity from the Director.
12.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts412,423307,687
13.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)50,61860,891
Total50,61860,891