Acorah Software Products - Accounts Production 16.1.200 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 13103541 Mr Thomas Bailey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13103541 2023-12-31 13103541 2024-12-31 13103541 2024-01-01 2024-12-31 13103541 frs-core:CurrentFinancialInstruments 2024-12-31 13103541 frs-core:Non-currentFinancialInstruments 2024-12-31 13103541 frs-core:ComputerEquipment 2024-12-31 13103541 frs-core:ComputerEquipment 2024-01-01 2024-12-31 13103541 frs-core:ComputerEquipment 2023-12-31 13103541 frs-core:MotorVehicles 2024-12-31 13103541 frs-core:MotorVehicles 2024-01-01 2024-12-31 13103541 frs-core:MotorVehicles 2023-12-31 13103541 frs-core:PlantMachinery 2024-12-31 13103541 frs-core:PlantMachinery 2024-01-01 2024-12-31 13103541 frs-core:PlantMachinery 2023-12-31 13103541 frs-core:ShareCapital 2024-12-31 13103541 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13103541 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13103541 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13103541 frs-bus:SmallEntities 2024-01-01 2024-12-31 13103541 frs-bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13103541 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13103541 frs-bus:Director1 2024-01-01 2024-12-31 13103541 frs-countries:EnglandWales 2024-01-01 2024-12-31 13103541 2022-12-31 13103541 2023-12-31 13103541 2023-01-01 2023-12-31 13103541 frs-core:CurrentFinancialInstruments 2023-12-31 13103541 frs-core:Non-currentFinancialInstruments 2023-12-31 13103541 frs-core:ShareCapital 2023-12-31 13103541 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 13103541
Bailey Power Services Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Merranti Accounting Ltd
10 Scandia-Hus Business Park
Felcourt Road, Felcourt
East Grinstead
West Sussex
RH19 2LP
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—7
Page 1
Company Information
Director Mr Thomas Bailey
Company Number 13103541
Registered Office Unit B6 Meridian Industrial Estate
Newton Road
Peacehaven
East Sussex
BN10 8JQ
Accountants Merranti Accounting Ltd
10 Scandia-Hus Business Park
Felcourt Road, Felcourt
East Grinstead
West Sussex
RH19 2LP
Page 1
Page 2
Accountants' Report
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bailey Power Services Ltd for the year ended 31 December 2024 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
This report is made solely to the director of Bailey Power Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bailey Power Services Ltd and state those matters that we have agreed to state to the director of Bailey Power Services Ltd in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Bailey Power Services Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bailey Power Services Ltd . You consider that Bailey Power Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bailey Power Services Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Signed
Merranti Accounting Ltd
7 February 2025
Merranti Accounting Ltd
10 Scandia-Hus Business Park
Felcourt Road, Felcourt
East Grinstead
West Sussex
RH19 2LP
Page 2
Page 3
Balance Sheet
Registered number: 13103541
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 206,634 126,942
206,634 126,942
CURRENT ASSETS
Stocks 5 11,000 1,000
Debtors 6 184,772 202,486
Cash at bank and in hand 232,009 202,716
427,781 406,202
Creditors: Amounts Falling Due Within One Year 7 (192,414 ) (197,437 )
NET CURRENT ASSETS (LIABILITIES) 235,367 208,765
TOTAL ASSETS LESS CURRENT LIABILITIES 442,001 335,707
Creditors: Amounts Falling Due After More Than One Year 8 - (818 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (40,848 ) (31,735 )
NET ASSETS 401,153 303,154
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 401,053 303,054
SHAREHOLDERS' FUNDS 401,153 303,154
Page 3
Page 4
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Bailey
Director
7 February 2025
The notes on pages 5 to 7 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Bailey Power Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13103541 . The registered office is Unit B6 Meridian Industrial Estate, Newton Road, Peacehaven, East Sussex, BN10 8JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10/20/33.33% Straight Line Method
Motor Vehicles 33% Reducing Balance
Computer Equipment 33.33% Straight Line Method
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 5
Page 6
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 70,642 100,821 2,458 173,921
Additions 86,609 46,000 1,370 133,979
Disposals - - (541 ) (541 )
As at 31 December 2024 157,251 146,821 3,287 307,359
Depreciation
As at 1 January 2024 11,387 34,278 1,314 46,979
Provided during the period 22,613 30,814 860 54,287
Disposals - - (541 ) (541 )
As at 31 December 2024 34,000 65,092 1,633 100,725
Net Book Value
As at 31 December 2024 123,251 81,729 1,654 206,634
As at 1 January 2024 59,255 66,543 1,144 126,942
5. Stocks
2024 2023
£ £
Finished goods 11,000 1,000
Page 6
Page 7
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 156,236 179,582
Other debtors 28,536 22,904
184,772 202,486
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 818 2,379
Trade creditors 7,518 60,670
Other creditors 18,515 17,873
Taxation and social security 165,563 116,515
192,414 197,437
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 818
Page 7