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REGISTERED NUMBER: 07950218 (England and Wales)










Unaudited Financial Statements

for the Year Ended 26 May 2024

for

Baileys Specialist Cleaning &
Restoration Services Limited

Baileys Specialist Cleaning &
Restoration Services Limited (Registered number: 07950218)






Contents of the Financial Statements
for the Year Ended 26 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Baileys Specialist Cleaning &
Restoration Services Limited

Company Information
for the Year Ended 26 May 2024







DIRECTOR: R J Bailey





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 07950218 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Baileys Specialist Cleaning &
Restoration Services Limited (Registered number: 07950218)

Balance Sheet
26 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 40,817 4,718
40,817 4,718

CURRENT ASSETS
Debtors 6 29,992 34,288
Cash at bank 1 302
29,993 34,590
CREDITORS
Amounts falling due within one year 7 (39,068 ) (30,182 )
NET CURRENT (LIABILITIES)/ASSETS (9,075 ) 4,408
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,742

9,126

CREDITORS
Amounts falling due after more than one year 8 (35,854 ) (8,245 )

PROVISIONS FOR LIABILITIES 10 (7,464 ) (541 )
NET (LIABILITIES)/ASSETS (11,576 ) 340

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11 (11,676 ) 240
(11,576 ) 340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 26 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Baileys Specialist Cleaning &
Restoration Services Limited (Registered number: 07950218)

Balance Sheet - continued
26 May 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 February 2025 and were signed by:





R J Bailey - Director


Baileys Specialist Cleaning &
Restoration Services Limited (Registered number: 07950218)

Notes to the Financial Statements
for the Year Ended 26 May 2024

1. STATUTORY INFORMATION

Baileys Specialist Cleaning & Restoration Services 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 (£).


The principal activity of the company continued to be that of specialists in domestic and commercial cleaning.

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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the rendering of services.

GOODWILL
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years .

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery25% on reducing balance
Computer equipment25% on cost
Motor vehicles 25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FINANCIAL INSTRUMENTS
The company only enters into basic financial instrument transactions that results in the recognition of financial asset and liability such as trade and other debtors and creditors, loan from bank and other third parties, loan to related parties and investments in non puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Baileys Specialist Cleaning &
Restoration Services Limited (Registered number: 07950218)

Notes to the Financial Statements - continued
for the Year Ended 26 May 2024

2. ACCOUNTING POLICIES - continued

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

GOING CONCERN
At the balance sheet date, liabilities exceed assets by £11,576. However the financial statements have been prepared on a going concern basis as the company has the continuing support from its directors and shareholders.The director are therefore satisfied that the financial statements have been correctly prepared on the going concern basis.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 27 May 2023
and 26 May 2024 8,700
AMORTISATION
At 27 May 2023
and 26 May 2024 8,700
NET BOOK VALUE
At 26 May 2024 -
At 26 May 2023 -

Baileys Specialist Cleaning &
Restoration Services Limited (Registered number: 07950218)

Notes to the Financial Statements - continued
for the Year Ended 26 May 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 27 May 2023 20,292 - 1,302 21,594
Additions - 49,704 - 49,704
At 26 May 2024 20,292 49,704 1,302 71,298
DEPRECIATION
At 27 May 2023 15,710 - 1,166 16,876
Charge for year 1,145 12,426 34 13,605
At 26 May 2024 16,855 12,426 1,200 30,481
NET BOOK VALUE
At 26 May 2024 3,437 37,278 102 40,817
At 26 May 2023 4,582 - 136 4,718

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 5,705
Other debtors 29,992 28,583
29,992 34,288

The director considers the carrying value of trade and other receivables approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,114 4,502
Finance leases (see note 9) 6,442 -
Taxation and social security 21,093 23,790
Other creditors 3,419 1,890
39,068 30,182

The directors consider the carrying amounts of current liabilities approximate to their fair values.

Baileys Specialist Cleaning &
Restoration Services Limited (Registered number: 07950218)

Notes to the Financial Statements - continued
for the Year Ended 26 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,202 8,245
Finance leases (see note 9) 31,652 -
35,854 8,245

The directors consider the carrying amounts of long-term liabilities approximate to their fair values.

9. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 6,442 -
Between one and five years 31,652 -
38,094 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,464 541

Deferred
tax
£   
Balance at 27 May 2023 541
Provided during year 6,923
Balance at 26 May 2024 7,464

11. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

Baileys Specialist Cleaning &
Restoration Services Limited (Registered number: 07950218)

Notes to the Financial Statements - continued
for the Year Ended 26 May 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 26 May 2024 and 26 May 2023:

2024 2023
£    £   
R J Bailey
Balance outstanding at start of year 19,244 28,176
Amounts advanced 17,853 20,754
Amounts repaid (16,074 ) (29,686 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,023 19,244

13. RELATED PARTY DISCLOSURES

At the balance sheet date included in other debtors are amounts due from director of £21,023 (2023 - £19,244). This loan is being repaid on demand.