R.A. BAILLIE LTD


Director	Mr R A Baillie


Company Secretary	Mrs N F Baillie


Registered Address	Ivy House
	Kirmond-Le-Mire
	Market Rasen
	LN8 6HZ


Registered Number	03362018 (England and Wales)

Notes to the Financial Statements
for the year ended 30 April 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	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.

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	25
Plant and machinery	15	-
Fixtures and fittings	15	-
Vehicles	25	-
Office Equipment	15	-

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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 balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average costing (AVCO) method. 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.

Stocks and work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average costing (AVCO) method.

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.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	10		9

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 May 24	5,369	5,369
At 30 April 25	5,369	5,369
Amortisation and impairment
At 01 May 24	1,074	1,074
Charge for year	4,295	4,295
At 30 April 25	5,369	5,369
Net book value
At 30 April 25	-	-
At 30 April 24	4,295	4,295

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 May 24	375,160	689,796	421,645	872,828	21,286	2,380,715
Additions	-	-	-	70,500	445	70,945
Disposals	-	-	-	(50,048)	-	(50,048)
At 30 April 25	375,160	689,796	421,645	893,280	21,731	2,401,612
Depreciation and impairment
At 01 May 24	8,645	195,085	95,549	380,233	9,909	689,421
Charge for year	1,006	18,574	23,935	41,343	1,751	86,609
On disposals	-	-	-	(25,044)	-	(25,044)
At 30 April 25	9,651	213,659	119,484	396,532	11,660	750,986
Net book value
At 30 April 25	365,509	476,137	302,161	496,748	10,071	1,650,626
At 30 April 24	366,515	494,711	326,096	492,595	11,377	1,691,294


	The fair value of the company's land was revalued on 30 April 2015. An independent valuer was not involved. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £100,794 (2024 - £100,794).

5.	Stocks

	2025	2024
	£	£
Work in progress	342,611	412,975
Finished goods	177,699	132,320
Total	520,310	545,295

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	165,516	115,429
Other debtors	7,034	10,220
Prepayments and accrued income	31,638	32,124
Total	204,188	157,773

7.	Current asset investments
	Other investments: Balance at 30 April 24 £2,832 Balance at 30 April 25 £2,832

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	216,977	180,426
Bank borrowings and overdrafts	543,292	461,035
Taxation and social security	7,420	4,757
Finance lease and HP contracts	157,087	183,979
Other creditors	112,145	123,227
Accrued liabilities and deferred income	18,739	21,128
Total	1,055,660	974,552

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	117,135	154,923
Other creditors	294,796	412,423
Total	411,931	567,346

10.	Creditors: amounts due after 5 years
	Borrowings due after more than five years by instalments totals £13,532 (2024 - £61,771). Interest is charged at market rate.

11.	Secured creditors
	Bank borrowings -Bank overdraft is denominated in £ with interest charged at market rate. The carrying amount at year end is £387,598 (2024 - £299,332). The bank overdraft is secured by fixed and floating charges of the assets of the company, together with collateral security furnished by the Director. -Bounce back loan is denominated in £ with interest charged at a nominal rate. The carrying amount at year end is £13,096 (2024 - £23,274). -Bank loan is denominated in £ with interest charged at 5%. The carrying amount at year end is £12,058 (2024 - £25,531). The bank loan is secured by fixed and floating charges over the assets of the company, together with collateral security furnished by the Director. Other borrowings -Hire purchase contracts with a carrying amount of £451,883 (2024 - £596,402) are denominated in £ with a nominal interest rate of market rate. The hire purchase liabilities are secured on the related assets. -Other borrowings with a carrying amount of £0 (2024 - £20,833) are denominated in £ with a nominal interest rate of market rate. -Other borrowings with a carrying amount of £56,250 (2024 - £81,250) are denominated in £ with a nominal interest rate of market rate. -Other borrowings with a carrying amount of £68,472 (2024 - £0) are denominated in £ with a nominal interest rate of market rate. -Other borrowings with a carrying amount of £30,353 (2024 - £68,668) are denominated in £ with a nominal interest rate of 5%. -Other borrowings with a carrying amount of £0 (2024 - £17,308) are denominated in £ with a nominal interest rate of market rate. -Other borrowings with a carrying amount of £12,858 (2024 - £0) are denominated in £ with a nominal interest rate of market rate. -Other borrowings with a carrying amount of £79,742 (2024 - £79,761) are denominated in £ with a nominal interest rate of 3% over Bank of England base rate. The borrowings are secured by personal guarantee and indemnity from the Director.

11.

Secured creditors

Bank borrowings
-Bank overdraft is denominated in £ with interest charged at market rate. The carrying amount at year end is £387,598 (2024 - £299,332). The bank overdraft is secured by fixed and floating charges of the assets of the company, together with collateral security furnished by the Director.
-Bounce back loan is denominated in £ with interest charged at a nominal rate. The carrying amount at year end is £13,096 (2024 - £23,274).
-Bank loan is denominated in £ with interest charged at 5%. The carrying amount at year end is £12,058 (2024 - £25,531). The bank loan is secured by fixed and floating charges over the assets of the company, together with collateral security furnished by the Director.

Other borrowings
-Hire purchase contracts with a carrying amount of £451,883 (2024 - £596,402) are denominated in £ with a nominal interest rate of market rate. The hire purchase liabilities are secured on the related assets.
-Other borrowings with a carrying amount of £0 (2024 - £20,833) are denominated in £ with a nominal interest rate of market rate.
-Other borrowings with a carrying amount of £56,250 (2024 - £81,250) are denominated in £ with a nominal interest rate of market rate.
-Other borrowings with a carrying amount of £68,472 (2024 - £0) are denominated in £ with a nominal interest rate of market rate.
-Other borrowings with a carrying amount of £30,353 (2024 - £68,668) are denominated in £ with a nominal interest rate of 5%.
-Other borrowings with a carrying amount of £0 (2024 - £17,308) are denominated in £ with a nominal interest rate of market rate.
-Other borrowings with a carrying amount of £12,858 (2024 - £0) are denominated in £ with a nominal interest rate of market rate.
-Other borrowings with a carrying amount of £79,742 (2024 - £79,761) are denominated in £ with a nominal interest rate of 3% over Bank of England base rate.

The borrowings are secured by personal guarantee and indemnity from the Director.

12.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	451,883		596,402

13.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	79,453	50,618
Total	79,453	50,618

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		-		4,295
Tangible assets	4		1,650,626		1,691,294
			1,650,626		1,695,589
Current assets
Stocks	5	520,310		545,295
Debtors	6	204,188		157,773
Current asset investments	7	2,832		2,832
Cash at bank and on hand		1,589		1,394
		728,919		707,294
Creditors amounts falling due within one year	8	(1,055,660)		(974,552)
Net current assets (liabilities)			(326,741)		(267,258)
Total assets less current liabilities			1,323,885		1,428,331
Creditors amounts falling due after one year	9		(411,931)		(567,346)
Provisions for liabilities	13		(79,453)		(50,618)
Net assets			832,501		810,367
Capital and reserves
Called up share capital			100		100
Revaluation reserve			228,385		228,385
Profit and loss account			604,016		581,882
Shareholders' funds			832,501		810,367