REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
13 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
FOR |
BAKERS INVESTMENTS LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
13 FEBRUARY 2023 TO 28 FEBRUARY 2024 |
FOR |
BAKERS INVESTMENTS LIMITED |
BAKERS INVESTMENTS LIMITED (REGISTERED NUMBER: 14657392) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 13 February 2023 to 28 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
BAKERS INVESTMENTS LIMITED |
COMPANY INFORMATION |
for the period 13 February 2023 to 28 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Unit 2, Charnwood Edge Business Park |
Syston Road |
Leicestershire |
LE7 4UZ |
BAKERS INVESTMENTS LIMITED (REGISTERED NUMBER: 14657392) |
BALANCE SHEET |
28 February 2024 |
Notes | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
BAKERS INVESTMENTS LIMITED (REGISTERED NUMBER: 14657392) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 13 February 2023 to 28 February 2024 |
1. | STATUTORY INFORMATION |
Bakers Investments Limited is a limited company, registered in England and Wales. Its registered office address is 70 Boston Road, Leicester, LE4 1AW and the registered number is 14657392. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in Pounds Sterling, which is the functional currency of the Company, and rounded to the nearest £. |
The financial statements have been drawn up for the period from incorporation on 13 February 2023 to 28 February 2024. |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue relates to rental income from investment properties and is recognised on a straight line basis over the period of the lease. Where lease incentives are given they are recognised over the lease term on a straight line basis. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Taxation |
The tax expense for the year comprises current and deferred tax. |
Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: |
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
BAKERS INVESTMENTS LIMITED (REGISTERED NUMBER: 14657392) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 13 February 2023 to 28 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Borrowing costs |
All borrowing costs are recognised in the profit or loss in the year in which they are incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
BAKERS INVESTMENTS LIMITED (REGISTERED NUMBER: 14657392) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 13 February 2023 to 28 February 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The bank loan is interest-only for the first five years at a rate of 7.89% with the balance being repayable in July 2028. The loan is secured by a fixed charge over the investment property and guaranteed by the company. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |