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REGISTERED NUMBER: 09034616 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Baron & Douglas Limited

Baron & Douglas Limited (Registered number: 09034616)






Contents of the Financial Statements
for the year ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Baron & Douglas Limited

Company Information
for the year ended 30 September 2024







DIRECTORS: Mrs S J Douglas
Mrs H L Baron





REGISTERED OFFICE: Suite 115
Burnley Business Centre
Empire Way
Burnley
Lancashire
BB12 6HH





REGISTERED NUMBER: 09034616 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

Baron & Douglas Limited (Registered number: 09034616)

Abridged Balance Sheet
30 September 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,431,947 1,618,447

CURRENT ASSETS
Cash at bank 303 39,665

CREDITORS
Amounts falling due within one year 346,139 453,050
NET CURRENT LIABILITIES (345,836 ) (413,385 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,086,111

1,205,062

CREDITORS
Amounts falling due after more than one year 5 (866,688 ) (1,038,132 )

PROVISIONS FOR LIABILITIES (27,550 ) -
NET ASSETS 191,873 166,930

CAPITAL AND RESERVES
Called up share capital 6 106 106
Share premium 118,415 118,415
Revaluation reserve 7 117,450 54,674
Retained earnings (44,098 ) (6,265 )
SHAREHOLDERS' FUNDS 191,873 166,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Baron & Douglas Limited (Registered number: 09034616)

Abridged Balance Sheet - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2025 and were signed on its behalf by:





Mrs H L Baron - Director


Baron & Douglas Limited (Registered number: 09034616)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

Baron & Douglas Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis. The company has net current liabilities in the current and previous financial year. The company is reliant on the continued financial support of bridging finance. The directors are of the opinion that trading performance will improve over the next financial year and that the relevant support will be maintained.

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
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, 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.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Baron & Douglas Limited (Registered number: 09034616)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 1,618,447
Disposals (276,826 )
Revaluations 90,326
At 30 September 2024 1,431,947
NET BOOK VALUE
At 30 September 2024 1,431,947
At 30 September 2023 1,618,447

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2023 54,674
Valuation in 2024 90,326
Cost 1,286,947
1,431,947

Investment property was valued on an open market basis on 30 September 2024 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30/9/24 30/9/23
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 757,801 910,715

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/9/24 30/9/23
value: £    £   
106 Ordinary £1 106 106

Baron & Douglas Limited (Registered number: 09034616)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

7. REVALUATION RESERVE
Revaluation
reserve
£   
At 1 October 2023 54,674
Property revaluation 62,776

At 30 September 2024 117,450

8. ULTIMATE CONTROLLING PARTY

The company does not recognise an ultimate controlling party due to the members having equal shareholdings in the company.