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Bailies Bar 2021 Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC708330
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,495 2,043
2,495 2,043
CURRENT ASSETS
Stocks 5 4,535 4,665
Debtors 6 911 835
Cash at bank and in hand 5,335 12,540
10,781 18,040
Creditors: Amounts Falling Due Within One Year 7 (16,637 ) (17,743 )
NET CURRENT ASSETS (LIABILITIES) (5,856 ) 297
TOTAL ASSETS LESS CURRENT LIABILITIES (3,361 ) 2,340
PROVISIONS FOR LIABILITIES
Deferred Taxation (474 ) -
NET (LIABILITIES)/ASSETS (3,835 ) 2,340
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (3,836 ) 2,339
SHAREHOLDERS' FUNDS (3,835) 2,340
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Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs D Gover
Director
30th April 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bailies Bar 2021 Limited is a private company, limited by shares, incorporated in Scotland, registered number SC708330 . The registered office is 1 Broad Place, Peterhead, AB41 1JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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 work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Taxation for the period 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 period 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 October 2023 3,037
Additions 1,615
As at 30 September 2024 4,652
Depreciation
As at 1 October 2023 994
Provided during the period 1,163
As at 30 September 2024 2,157
Net Book Value
As at 30 September 2024 2,495
As at 1 October 2023 2,043
5. Stocks
2024 2023
£ £
Materials 4,535 4,665
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 911 835
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,679 5,849
Corporation tax 1,921 3,447
Other taxes and social security 749 342
VAT 4,527 4,918
Other creditors 68 47
Accruals and deferred income 1,765 2,365
Director's loan account 928 775
16,637 17,743
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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