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REGISTERED NUMBER: 01705879 (England and Wales)















Bailey Hire Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Bailey Hire Limited (Registered number: 01705879)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bailey Hire Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R M Bailey
P D Wells





REGISTERED OFFICE: Unit 3b
Ocean Park
Pantglas Industrial Estate
Caerphilly
Mid Glamorgan
CF83 8DR





REGISTERED NUMBER: 01705879 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Bailey Hire Limited (Registered number: 01705879)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 745,472 728,813

CURRENT ASSETS
Stocks 541,613 541,613
Debtors 5 306,497 240,151
Cash at bank 316,546 133,305
1,164,656 915,069
CREDITORS
Amounts falling due within one year 6 199,156 87,522
NET CURRENT ASSETS 965,500 827,547
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,710,972

1,556,360

PROVISIONS FOR LIABILITIES 7 152,447 161,806
NET ASSETS 1,558,525 1,394,554

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,558,425 1,394,454
SHAREHOLDERS' FUNDS 1,558,525 1,394,554

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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

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 11 March 2025 and were signed on its behalf by:





P D Wells - Director


Bailey Hire Limited (Registered number: 01705879)

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

1. STATUTORY INFORMATION

Bailey Hire 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover includes revenue earned from the sale of goods and from the 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 the work performed to date to the total estimated contract costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Bailey Hire Limited (Registered number: 01705879)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 1,012,155 831,460 1,843,615
Additions - 243,388 243,388
Disposals - (131,875 ) (131,875 )
At 30 June 2024 1,012,155 942,973 1,955,128
DEPRECIATION
At 1 July 2023 688,225 426,577 1,114,802
Charge for year 64,786 108,374 173,160
Eliminated on disposal - (78,306 ) (78,306 )
At 30 June 2024 753,011 456,645 1,209,656
NET BOOK VALUE
At 30 June 2024 259,144 486,328 745,472
At 30 June 2023 323,930 404,883 728,813

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 21,682
Amounts owed by group undertakings 173,497 185,469
Other debtors 133,000 33,000
306,497 240,151

Bailey Hire Limited (Registered number: 01705879)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 52,064 400
Amounts owed to group undertakings 19,070 19,070
Taxation and social security 72,970 63,831
Other creditors 55,052 4,221
199,156 87,522

7. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 152,447 161,806

Deferred
tax
£   
Balance at 1 July 2023 161,806
Credit to Income Statement during year (9,359 )
Profit and loss movement
Balance at 30 June 2024 152,447

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the year end was Mr RM Bailey by virtue of his shareholding in Integrated Holdings Limited.