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REGISTERED NUMBER: 02770699 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

J. M. BAILEY COMMUNICATIONS LIMITED

J. M. BAILEY COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02770699)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J. M. BAILEY COMMUNICATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr J M Bailey
Mrs S L Bailey





REGISTERED OFFICE: New House
30 New Road
Solihull
West Midlands
B91 3DP





REGISTERED NUMBER: 02770699 (England and Wales)





ACCOUNTANTS: Lowson Ward
Chartered Accountants
292 Wake Green Road
Birmingham
B13 9QP

J. M. BAILEY COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02770699)

BALANCE SHEET
31 DECEMBER 2024

31/12/24 31/12/23
Notes £    £   
FIXED ASSETS
Tangible assets 3 2,115 4,174

CURRENT ASSETS
Stocks 5,205 2,960
Debtors 4 71,971 166,677
Cash at bank and in hand 82,803 132,918
159,979 302,555
CREDITORS
Amounts falling due within one year 5 (148,180 ) (109,918 )
NET CURRENT ASSETS 11,799 192,637
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,914

196,811

PROVISIONS FOR LIABILITIES (400 ) (800 )
NET ASSETS 13,514 196,011

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 3,514 186,011
SHAREHOLDERS' FUNDS 13,514 196,011

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

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

J. M. BAILEY COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02770699)

BALANCE SHEET - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





Mr J M Bailey - Director


J. M. BAILEY COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02770699)

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

1. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 25% p.a. straight line

All fixed assets are initially recorded at cost.

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.

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.

J. M. BAILEY COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02770699)

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

1. ACCOUNTING POLICIES - continued

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.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

3. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 January 2024 23,626
Disposals (15,525 )
At 31 December 2024 8,101
DEPRECIATION
At 1 January 2024 19,452
Charge for year 1,168
Eliminated on disposal (14,634 )
At 31 December 2024 5,986
NET BOOK VALUE
At 31 December 2024 2,115
At 31 December 2023 4,174

J. M. BAILEY COMMUNICATIONS LIMITED (REGISTERED NUMBER: 02770699)

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 61,300 160,116
Prepayments and accrued income 10,671 6,561
71,971 166,677

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 56,860 36,339
Corporation tax (4,948 ) 4,948
PAYE and NIC 3,526 3,356
VAT 26,867 31,504
Proposed dividends 12,500 -
Other creditors 8,723 2,958
Directors' current accounts 36,972 19,282
Accruals and deferred income 7,680 11,531
148,180 109,918