1 1 Fort Baker Limited 10766688 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of rental units. Digita Accounts Production Advanced 6.30.9574.0 true 10766688 2023-07-01 2024-06-30 10766688 2024-06-30 10766688 core:CurrentFinancialInstruments 2024-06-30 10766688 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10766688 core:Non-currentFinancialInstruments 2024-06-30 10766688 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 10766688 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 10766688 core:MotorVehicles 2024-06-30 10766688 core:OfficeEquipment 2024-06-30 10766688 core:PlantMachinery 2024-06-30 10766688 core:OtherRelatedParties 2024-06-30 10766688 core:ParentEntities 2024-06-30 10766688 1 2024-06-30 10766688 bus:SmallEntities 2023-07-01 2024-06-30 10766688 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10766688 bus:FilletedAccounts 2023-07-01 2024-06-30 10766688 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10766688 bus:RegisteredOffice 2023-07-01 2024-06-30 10766688 bus:Director1 2023-07-01 2024-06-30 10766688 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10766688 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10766688 core:LeaseholdImprovements 2023-07-01 2024-06-30 10766688 core:MotorCars 2023-07-01 2024-06-30 10766688 core:MotorVehicles 2023-07-01 2024-06-30 10766688 core:OfficeEquipment 2023-07-01 2024-06-30 10766688 core:PlantMachinery 2023-07-01 2024-06-30 10766688 core:OtherRelatedParties 2023-07-01 2024-06-30 10766688 core:ParentEntities 2023-07-01 2024-06-30 10766688 countries:EnglandWales 2023-07-01 2024-06-30 10766688 1 2023-07-01 2024-06-30 10766688 2023-06-30 10766688 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 10766688 core:MotorVehicles 2023-06-30 10766688 core:OfficeEquipment 2023-06-30 10766688 core:PlantMachinery 2023-06-30 10766688 core:OtherRelatedParties 2023-06-30 10766688 core:ParentEntities 2023-06-30 10766688 1 2023-06-30 10766688 2022-07-01 2023-06-30 10766688 2023-06-30 10766688 core:CurrentFinancialInstruments 2023-06-30 10766688 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10766688 core:Non-currentFinancialInstruments 2023-06-30 10766688 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10766688 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 10766688 core:MotorVehicles 2023-06-30 10766688 core:OfficeEquipment 2023-06-30 10766688 core:PlantMachinery 2023-06-30 10766688 core:ParentEntities 2023-06-30 10766688 1 2023-06-30 10766688 core:ParentEntities 2022-07-01 2023-06-30 10766688 1 2022-07-01 2023-06-30 10766688 2022-06-30 10766688 core:ParentEntities 2022-06-30 10766688 1 2022-06-30 xbrli:pure iso4217:GBP

Registration number: 10766688

Fort Baker Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Fort Baker Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 8

 

Fort Baker Limited

(Registration number: 10766688)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

681,194

669,484

Current assets

 

Debtors

5

248,029

59,609

Cash at bank and in hand

 

39,246

18,331

 

287,275

77,940

Creditors: Amounts falling due within one year

6

(54,803)

(88,925)

Net current assets/(liabilities)

 

232,472

(10,985)

Total assets less current liabilities

 

913,666

658,499

Creditors: Amounts falling due after more than one year

6

(401,866)

(166,944)

Provisions for liabilities

(110,156)

(107,229)

Net assets

 

401,644

384,326

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

330,107

320,184

Profit and loss account

70,537

63,142

Shareholders' funds

 

401,644

384,326

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 28 February 2025
 


T W Lewis
Director

 

Fort Baker Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Westcotts
Plym House, 3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of rental units.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Fort Baker Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Fort Baker Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Reducing balance 25%

Improvements to property

Reducing balance 15%

Motor vehicles

Reducing balance 25%

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Fort Baker Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

661,500

5,275

10,433

3,162

680,370

Revaluations

13,230

-

-

-

13,230

At 30 June 2024

674,730

5,275

10,433

3,162

693,600

Depreciation

At 1 July 2023

-

3,050

5,674

2,162

10,886

Charge for the year

-

556

714

250

1,520

At 30 June 2024

-

3,606

6,388

2,412

12,406

Carrying amount

At 30 June 2024

674,730

1,669

4,045

750

681,194

At 30 June 2023

661,500

2,225

4,759

1,000

669,484

Included within the net book value of land and buildings above is £674,730 (2023 - £661,500) in respect of freehold land and buildings.
 

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

6,921

2,624

Amounts owed by related parties

9

241,108

56,461

Prepayments

 

-

524

 

248,029

59,609

 

Fort Baker Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

 

Loans and borrowings

8

18,539

14,611

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

3,539

-

Taxation and social security

 

10,995

15,466

Other creditors

 

21,730

58,848

 

54,803

88,925

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

 

Loans and borrowings

8

401,866

166,944


 

The bank loan is secured.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Fort Baker Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

401,866

166,944

Current loans and borrowings

2024
£

2023
£

Bank borrowings

18,539

14,611

9

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Director

(44,934)

52,161

(22,095)

(14,868)

         
       

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Director

(47,994)

(6,312)

9,372

(44,934)

 

Fort Baker Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

9

Related party transactions (continued)

 

Loans to related parties

2024

Westcountry Bakery Limited
£

Airtight Storage Solutions Limited
£

Total
£

At start of period

56,461

-

56,461

Advanced

-

253,300

253,300

Repaid

(60,000)

(24,396)

(84,396)

Interest transactions

-

12,204

12,204

At end of period

(3,539)

241,108

237,569

2023

Westcountry Bakery Limited
£

Total
£

At start of period

(3,539)

(3,539)

Advanced

60,000

60,000

At end of period

56,461

56,461

Terms of loans to related parties
Westcountry Bakery Limited and Airtight Storage Solutions are controlled by same director as Fort Baker Limited.