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REGISTERED NUMBER: 03908976 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

MARK BAILEY ASSOCIATES LIMITED

MARK BAILEY ASSOCIATES LIMITED (REGISTERED NUMBER: 03908976)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARK BAILEY ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTOR: M A Bailey



SECRETARY: Mrs T A Brett



REGISTERED OFFICE: Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP



REGISTERED NUMBER: 03908976 (England and Wales)



ACCOUNTANTS: Cook & Partners Limited
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP



BANKERS: National Westminister Bank
13 Stonehills
Welwyn Garden City
Hertfordshire
AL8 6ND

MARK BAILEY ASSOCIATES LIMITED (REGISTERED NUMBER: 03908976)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,286 131,249
Investments 5 1,275,196 1,166,375
1,378,482 1,297,624

CURRENT ASSETS
Stocks 15,050 41,400
Debtors 6 635,462 1,041,049
Cash at bank 22,722 46,581
673,234 1,129,030
CREDITORS
Amounts falling due within one year 7 1,369,913 1,730,049
NET CURRENT LIABILITIES (696,679 ) (601,019 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

681,803

696,605

CREDITORS
Amounts falling due after more than one
year

8

(74,151

)

(91,457

)

PROVISIONS FOR LIABILITIES (25,821 ) (24,899 )
NET ASSETS 581,831 580,249

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 581,826 580,244
SHAREHOLDERS' FUNDS 581,831 580,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

MARK BAILEY ASSOCIATES LIMITED (REGISTERED NUMBER: 03908976)

BALANCE SHEET - continued
31ST DECEMBER 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 20th March 2025 and were signed by:





M A Bailey - Director


MARK BAILEY ASSOCIATES LIMITED (REGISTERED NUMBER: 03908976)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Mark Bailey Associates 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

Accounting convention
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.

Going Concern Justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st December 2024 have been prepared using the going concern basis of accounting.

Revenue
Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% 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 Statement of Income and Retained Earnings, 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.

MARK BAILEY ASSOCIATES LIMITED (REGISTERED NUMBER: 03908976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st January 2024 78,784 123,274 202,058
Additions 6,429 - 6,429
At 31st December 2024 85,213 123,274 208,487
DEPRECIATION
At 1st January 2024 70,809 - 70,809
Charge for year 3,574 30,818 34,392
At 31st December 2024 74,383 30,818 105,201
NET BOOK VALUE
At 31st December 2024 10,830 92,456 103,286
At 31st December 2023 7,975 123,274 131,249

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Freehold Land 1,166,375 971,875
Freehold Land Additions 108,821 194,500
1,275,196 1,166,375

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 296,557 674,899
Other debtors 287,160 278,161
Directors' current accounts 51,745 85,924
Prepayments - 2,065
635,462 1,041,049

MARK BAILEY ASSOCIATES LIMITED (REGISTERED NUMBER: 03908976)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 70,459 36,759
Hire purchase contracts 30,729 30,928
Trade creditors 984,126 1,245,219
Tax 74,652 44,256
Social security and other taxes 10,452 9,212
VAT 123,157 127,528
Factoring Account 43,586 206,664
Accrued expenses 32,752 29,483
1,369,913 1,730,049

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 74,151 91,457

9. OTHER FINANCIAL COMMITMENTS

As at 31st December 2023 the company had other financial commitments of £15,926 (2023: £37,014).

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2024 and 31st December 2023:

2024 2023
£    £   
M A Bailey
Balance outstanding at start of year 85,924 -
Amounts advanced 51,745 85,924
Amounts repaid (85,924 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51,745 85,924

The loan was repaid within 9 months of the year end. No interest has been charged on this loan during the period.

11. RELATED PARTY DISCLOSURES

During the period, the company paid dividends of £84,000 (2023: £139,000) to Mr M Bailey, the controlling shareholder.

12. ULTIMATE CONTROLLING PARTY

The controlling party is M A Bailey.