Registration number: 04271589

M & J Bagshaw Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

M & J Bagshaw Ltd

(Registration number: 04271589)
Balance Sheet as at 31 August 2025

	Note	2025 £		2024 £
Fixed assets
Tangible assets	4		8,912		11,882
Current assets
Debtors	5	22,357		21,072
Cash at bank and in hand		2,327		677
		24,684		21,749
Creditors: Amounts falling due within one year	6	(20,033)		(27,644)
Net current assets/(liabilities)			4,651		(5,895)
Total assets less current liabilities			13,563		5,987
Creditors: Amounts falling due after more than one year	6		-		(3,717)
Provisions for liabilities			(1,693)		(2,257)
Net assets			11,870		13
Capital and reserves
Called up share capital		2		2
Profit and loss account		11,868		11
Total equity			11,870		13

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 October 2025 and signed on its behalf by:
 

......................................... Mr M Bagshaw Director

M & J Bagshaw Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2025

1	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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when, the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

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

The current income 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance

M & J Bagshaw Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

3	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	2,970	3,960

M & J Bagshaw Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2025

4	Tangible assets

	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	50,915	50,915
Disposals	(5,310)	(5,310)
At 31 August 2025	45,605	45,605
Depreciation
At 1 September 2024	39,033	39,033
Charge for the year	2,970	2,970
Eliminated on disposal	(5,310)	(5,310)
At 31 August 2025	36,693	36,693
Carrying amount
At 31 August 2025	8,912	8,912
At 31 August 2024	11,882	11,882

5

Debtors

Current	2025 £	2024 £
Trade debtors	21,575	20,480
Other debtors	782	592
	22,357	21,072

6

Creditors

	2025 £	2024 £
Due within one year
Loans and borrowings	3,717	5,875
Trade creditors	2,016	1,657
Taxation and social security	12,251	6,827
Other creditors	2,049	13,285
	20,033	27,644
Due after one year
Loans and borrowings	-	3,717