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BAGNALL & KIRKWOOD LIMITED

Registered Number
01291497
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2025

BAGNALL & KIRKWOOD LIMITED
Company Information
for the year from 1 February 2024 to 31 January 2025

Directors

Mr A S Guthrie
Mrs C Guthrie
Mr R A Guthrie

Registered Address

220 Rothbury Terrace
Heaton
Newcastle Upon Tyne
NE6 5DE

Registered Number

01291497 (England and Wales)
BAGNALL & KIRKWOOD LIMITED
Statement of Financial Position
31 January 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets31,245,358493,550
1,245,358493,550
Current assets
Stocks4405,367406,835
Debtors511,10611,599
Cash at bank and on hand1,049,1671,333,738
1,465,6401,752,172
Creditors amounts falling due within one year6(219,236)(236,780)
Net current assets (liabilities)1,246,4041,515,392
Total assets less current liabilities2,491,7622,008,942
Provisions for liabilities7(63,595)-
Net assets2,428,1672,008,942
Capital and reserves
Called up share capital10,75010,750
Other reserves10,75010,750
Profit and loss account2,406,6671,987,442
Shareholders' funds2,428,1672,008,942
The financial statements were approved and authorised for issue by the Board of Directors on 18 August 2025, and are signed on its behalf by:
Mr A S Guthrie
Director
Registered Company No. 01291497
BAGNALL & KIRKWOOD LIMITED
Notes to the Financial Statements
for the year ended 31 January 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Land and buildings are accounted for at cost. They are not depreciated until the accounting period in which they are brought into use. Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery-10
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.Average number of employees

20252024
Average number of employees during the year66
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 February 24452,447-81,90821,7204,301560,376
Additions686,81021,700-64,899-773,409
Disposals---(19,698)(2,115)(21,813)
At 31 January 251,139,25721,70081,90866,9212,1861,311,972
Depreciation and impairment
At 01 February 24--43,18620,7622,87866,826
Charge for year5,6975439,6815,07135621,348
On disposals---(19,571)(1,989)(21,560)
At 31 January 255,69754352,8676,2621,24566,614
Net book value
At 31 January 251,133,56021,15729,04160,6599411,245,358
At 31 January 24452,447-38,7229581,423493,550
4.Stocks

2025

2024

££
Finished goods405,367406,835
Total405,367406,835
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables4241,091
Prepayments and accrued income10,68210,508
Total11,10611,599
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables58,28949,461
Taxation and social security94,313168,218
Other creditors824345
Accrued liabilities and deferred income65,81018,756
Total219,236236,780
7.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)63,595-
Total63,595-
8.Other commitments
At 31 January 2025 the company had future minimum lease payments under non-cancellable operating leases of £NIL (2024 - £23,131).