Acorah Software Products - Accounts Production 16.3.350 false true 29 February 2024 1 March 2023 false 30 May 2025 1 March 2024 28 February 2025 28 February 2025 12859539 Mrs K L George Mr I Bailey Mr M Bailey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12859539 2024-02-29 12859539 2025-02-28 12859539 2024-03-01 2025-02-28 12859539 frs-core:CurrentFinancialInstruments 2025-02-28 12859539 frs-core:Non-currentFinancialInstruments 2025-02-28 12859539 frs-core:RevaluationReserve 2024-02-29 12859539 frs-core:RevaluationReserve 2025-02-28 12859539 frs-core:ShareCapital 2025-02-28 12859539 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 12859539 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 12859539 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 12859539 frs-bus:SmallEntities 2024-03-01 2025-02-28 12859539 frs-bus:Audited 2024-03-01 2025-02-28 12859539 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 12859539 frs-bus:Director1 2024-03-01 2025-02-28 12859539 frs-bus:Director2 2024-03-01 2025-02-28 12859539 frs-bus:Director3 2024-03-01 2025-02-28 12859539 frs-countries:EnglandWales 2024-03-01 2025-02-28 12859539 2023-02-28 12859539 2024-02-29 12859539 2023-03-01 2024-02-29 12859539 frs-core:CurrentFinancialInstruments 2024-02-29 12859539 frs-core:Non-currentFinancialInstruments 2024-02-29 12859539 frs-core:RevaluationReserve 2024-02-29 12859539 frs-core:ShareCapital 2024-02-29 12859539 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29
Registered number: 12859539
Baileys Property Holdings Limited
Financial Statements
For The Year Ended 28 February 2025
HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
NP10 8FY
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 12859539
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 846,795 599,440
846,795 599,440
CURRENT ASSETS
Stocks 5 2,990 2,990
Cash at bank and in hand 18,214 22,622
21,204 25,612
Creditors: Amounts Falling Due Within One Year 6 (759,523 ) (522,560 )
NET CURRENT ASSETS (LIABILITIES) (738,319 ) (496,948 )
TOTAL ASSETS LESS CURRENT LIABILITIES 108,476 102,492
Creditors: Amounts Falling Due After More Than One Year 7 (94,194 ) (94,194 )
NET ASSETS 14,282 8,298
CAPITAL AND RESERVES
Called up share capital 9 200 200
Revaluation reserve 10 10,414 10,414
Profit and Loss Account 3,668 (2,316 )
SHAREHOLDERS' FUNDS 14,282 8,298
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 K L George
Director
29 May 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Baileys Property Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12859539 . The registered office is Baileys DIY, Brecon Road, Abergavenny, NP7 7RB.
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.
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. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
Page 2
Page 3
4. Investment Property
2025
£
Fair Value
As at 1 March 2024 599,440
Additions 247,355
As at 28 February 2025 846,795
5. Stocks
2025 2024
£ £
Stock 2,990 2,990
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 2,072 4,407
Amounts owed to group undertakings 720,446 500,446
Amounts owed to participating interests 33,264 14,905
Other creditors 2,802 2,802
Taxation and social security 939 -
759,523 522,560
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 94,194 94,194
8. Secured Creditors
The Barclays term loan is secured by a fixed charge over the asset to which it relates.
Barclays term loan is denominated in £ sterling with a nominal interest rate of 8.55%, and the final instalment is due on 25 September 2026. The carrying amount at year end is £96,266 (2024 - £98,685).
2025 2024
£ £
Bank loans and overdrafts 96,266 98,685
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 200 200
10. Reserves
Revaluation Reserve
£
As at 1 March 2024 10,414
As at 28 February 2025 10,414
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Page 4
11. Related Party Transactions
During the year the company received rents on behalf of an associated non-group company totalling £18,359 (2024: £14,905). At the year end the amounts owed to associated non-group companies totalled £33,264 (2024: £14,905).
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
12. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
13. Audit Information
The auditor's report on the accounts of Baileys Property Holdings Limited for the year ended 28 February 2025 was unqualified.
The auditor's report was signed by Mr Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor) for and on behalf of HSJ Audit Limited , Statutory Auditor.
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