Company registration number 05705595 (England and Wales)
BAILEY'S COUNTRY STORE (PENRYN) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
BAILEY'S COUNTRY STORE (PENRYN) LIMITED
COMPANY INFORMATION
Directors
Mr S A Bailey
Mrs E L Bailey
Secretary
Mr S A Bailey
Company number
05705595
BAILEY'S COUNTRY STORE (PENRYN) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BAILEY'S COUNTRY STORE (PENRYN) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
2
64,043
67,262
Current assets
Stocks
155,000
164,750
Debtors
3
16,406
12,214
Cash at bank and in hand
5,665
12,017
177,071
188,981
Creditors: amounts falling due within one year
4
(198,519)
(205,412)
Net current liabilities
(21,448)
(16,431)
Total assets less current liabilities
42,595
50,831
Creditors: amounts falling due after more than one year
5
(17,233)
(31,458)
Provisions for liabilities
(15,723)
(16,476)
Net assets
9,639
2,897
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
9,637
2,895
Total equity
9,639
2,897

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 October 2025 and are signed on its behalf by:
Mr S A Bailey
Director
Company Registration No. 05705595
BAILEY'S COUNTRY STORE (PENRYN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
1
Accounting policies
Company information

Bailey's Country Store (Penryn) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Eastwood Park, Eastwood Road, Penryn, Cornwall, TR10 8LA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% per annum on the reducing balance method
Computer equipment
33.33% per annum on the straight line method
Motor vehicles
25% per annum on the reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price after making due allowance for obsolete and slow moving items.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

BAILEY'S COUNTRY STORE (PENRYN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 3 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2024
98,783
41,321
52,461
192,565
Additions
-
0
683
21,999
22,682
Disposals
-
0
-
0
(16,000)
(16,000)
At 30 June 2025
98,783
42,004
58,460
199,247
Depreciation and impairment
At 1 July 2024
68,760
36,490
20,053
125,303
Depreciation charged in the year
4,503
4,000
12,336
20,839
Eliminated in respect of disposals
-
0
-
0
(10,938)
(10,938)
At 30 June 2025
73,263
40,490
21,451
135,204
Carrying amount
At 30 June 2025
25,520
1,514
37,009
64,043
At 30 June 2024
30,023
4,831
32,408
67,262

Motor vehicles with a carrying value of £20,509 (2024: £27,346) are held under hire purchase contracts.

BAILEY'S COUNTRY STORE (PENRYN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
3
Debtors: amounts falling due within one year
2025
2024
£
£
Trade debtors
6,067
6,269
Other debtors
10,339
5,945
16,406
12,214
4
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdraft (secured)
46,399
32,676
Trade creditors
113,569
136,241
Taxation and social security
9,873
9,261
Other creditors
28,678
27,234
198,519
205,412

A charge was filed with Companies House by Lloyds TSB Bank PLC on 1 July 2006, on all of the assets of the company, present and future.

5
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans (secured)
-
0
9,163
Other creditors
17,233
22,295
17,233
31,458
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
16
15
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