Baker Finance Ltd 09310154 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is the development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true 09310154 2023-12-01 2024-11-30 09310154 2024-11-30 09310154 core:CurrentFinancialInstruments 2024-11-30 09310154 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 09310154 bus:SmallEntities 2023-12-01 2024-11-30 09310154 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 09310154 bus:FilletedAccounts 2023-12-01 2024-11-30 09310154 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 09310154 bus:RegisteredOffice 2023-12-01 2024-11-30 09310154 bus:CompanySecretaryDirector1 2023-12-01 2024-11-30 09310154 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 09310154 countries:EnglandWales 2023-12-01 2024-11-30 09310154 2022-12-01 2023-11-30 09310154 2023-11-30 09310154 core:CurrentFinancialInstruments 2023-11-30 09310154 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 iso4217:GBP xbrli:pure

Registration number: 09310154

Prepared for the registrar

Baker Finance Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Baker Finance Ltd

(Registration number: 09310154)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Current assets

 

Stocks

-

7,130

Debtors

4

23,606

2,659

Cash at bank and in hand

 

1,347

2,584

 

24,953

12,373

Creditors: Amounts falling due within one year

5

(21,597)

(19,598)

Net assets/(liabilities)

 

3,356

(7,225)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

3,355

(7,226)

Shareholders' funds/(deficit)

 

3,356

(7,225)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 August 2025
 


J N G Swanston
Company secretary and director

 

Baker Finance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Greswolde House
31 Beechnut Lane
Solihull
B91 2NN

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Baker Finance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

4

Debtors

2024
 £

2023
 £

Trade debtors

20,000

-

Other debtors

3,606

2,659

 

23,606

2,659

 

Baker Finance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

 

5

Creditors

2024
 £

2023
 £

Due within one year

Trade creditors

330

-

Social security and other taxes

3,081

2,055

Outstanding defined contribution pension costs

-

244

Other creditors

16,766

16,774

Accrued expenses

1,420

525

21,597

19,598