Company registration number 08735565 (England and Wales)
BAILEY & CO. LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
BAILEY & CO. LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BAILEY & CO. LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
109,456
145,040
Investments
5
-
0
3,000
109,456
148,040
Current assets
Debtors
6
236,324
160,795
Cash at bank and in hand
427,678
434,163
664,002
594,958
Creditors: amounts falling due within one year
7
(250,632)
(219,546)
Net current assets
413,370
375,412
Total assets less current liabilities
522,826
523,452
Provisions for liabilities
(25,543)
(34,285)
Net assets
497,283
489,167
Capital and reserves
Called up share capital
8
100
100
Share premium account
79,989
79,989
Capital redemption reserve
11
11
Profit and loss reserves
417,183
409,067
Total equity
497,283
489,167
BAILEY & CO. LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 15 October 2025 and are signed on its behalf by:
B Bailey
Director
Company registration number 08735565 (England and Wales)
BAILEY & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Bailey & Co. Limited (company registration number: 08735565) is a private company limited by shares incorporated in England and Wales. The registered office is 89 St. Georges Terrace, Jesmond, Newcastle upon Tyne, NE2 2DN.

1.1
Accounting convention

These financial statements 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” (“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 principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

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

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

Plant and machinery
20% reducing balance / 33% straight line
Fixtures, fittings & equipment
10% straight line
Computer equipment
33% straight line
Motor vehicles
25% reducing balance / 33% straight line

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.

1.5
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.

1.6
Financial instruments

F inancial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

BAILEY & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
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.

1.8
Retirement benefits

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

1.9
Leases

Rentals payable under operating leases, are charged to income on a straight line basis over the term of the relevant lease.

1.10

Investments

Fixed asset investments are stated at cost.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

BAILEY & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
3
Employees
2024
2023
Number
Number
Total
15
15
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023
365,185
Additions
6,015
At 31 October 2024
371,200
Depreciation and impairment
At 1 November 2023
220,145
Depreciation charged in the year
41,599
At 31 October 2024
261,744
Carrying amount
At 31 October 2024
109,456
At 31 October 2023
145,040
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
-
0
3,000
BAILEY & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 November 2023
3,000
Disposals
(3,000)
At 31 October 2024
-
Carrying amount
At 31 October 2024
-
At 31 October 2023
3,000
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
53,076
44,765
Other debtors
183,248
116,030
236,324
160,795
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,367
15,908
Corporation tax
115,306
64,983
Other taxation and social security
82,492
94,698
Other creditors
2,085
1,929
Accruals and deferred income
39,382
42,028
250,632
219,546
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
10,000
10,000
100
100
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £7,731 (202 3 - £14,867).

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