Registered number
13458635
Bailey Clothing Consultancy Limited
Filleted Accounts
30 June 2024
Bailey Clothing Consultancy Limited
Registered number: 13458635
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 733 1,099
Current assets
Stocks - 368
Debtors 4 440 880
Cash at bank and in hand 48,758 17,146
49,198 18,394
Creditors: amounts falling due within one year 5 (31,969) (8,282)
Net current assets 17,229 10,112
Total assets less current liabilities 17,962 11,211
Provisions for liabilities (139) -
Net assets 17,823 11,211
Capital and reserves
Called up share capital 1 1
Profit and loss account 17,822 11,210
Shareholders' funds 17,823 11,211
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Douglas Bailey
Director
Approved by the board on 28 February 2025
Bailey Clothing Consultancy Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% of net book value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 1,649
At 30 June 2024 1,649
Depreciation
At 1 July 2023 550
Charge for the year 366
At 30 June 2024 916
Net book value
At 30 June 2024 733
At 30 June 2023 1,099
4 Debtors 2024 2023
£ £
Other debtors 440 880
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,552 -
Other creditors 29,417 8,282
31,969 8,282
6 Other information
Bailey Clothing Consultancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Goodby Road
Birmingham
B13 8NJ
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