Company registration number 07032389 (England and Wales)
Preston Baker And Associates Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Pages For Filing With Registrar
PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
147,026
137,428
Tangible assets
4
311,734
330,292
458,760
467,720
Current assets
Debtors
5
332,961
383,810
Cash at bank and in hand
220
7,974
333,181
391,784
Creditors: amounts falling due within one year
6
(1,251,107)
(1,083,375)
Net current liabilities
(917,926)
(691,591)
Total assets less current liabilities
(459,166)
(223,871)
Creditors: amounts falling due after more than one year
7
(22,106)
(124,205)
Provisions for liabilities
(48,000)
(53,000)
Net liabilities
(529,272)
(401,076)
Capital and reserves
Called up share capital
800
800
Profit and loss reserves
(530,072)
(401,876)
Total equity
(529,272)
(401,076)

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 31 December 2024 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.

PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 December 2025 and are signed on its behalf by:
Mr I R Preston
Director
Company Registration No. 07032389
PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Preston Baker and Associates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 101 Walmgate, York, YO1 9UA.

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 £1.

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

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

The ultimate parent company is PBAH Limited. The registered office of PBAH Limited is 101 Walmgate, York, YO1 9UA. The company and its parent comprise a small group and as such are exempt from preparing group accounts.

1.2
Going concern

As at 31 December 202 true 4 the company had net liabilities of £529,272 (202 3 - £401,076).

In their assessment of the Company's ability to continue as a going concern, the Directors have considered the principal risks and uncertainties facing the business, along with the Company's objectives, policies and processes for managing its exposure to financial risk. In making this assessment the Directors review detailed monthly management information and are conducting an ongoing exercise to mitigate the company’s overheads and improve profitability.

Having considered the above, the Directors have prepared the financial statements on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue represents net invoiced sales relating to estate and letting agents services, excluding value added tax.

PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
20% straight line
Website costs
15% reducing balance
1.5
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:

Leasehold improvements
2% straight line
Fixtures and fittings
15% reducing balance
Computers
15% reducing balance
Motor vehicles
25% 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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

1.10
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.

PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

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

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

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

2024
2023
Number
Number
Total
25
36
3
Intangible fixed assets
Software
Website costs
Total
£
£
£
Cost
At 1 January 2024
65,582
247,377
312,959
Additions
-
0
41,699
41,699
At 31 December 2024
65,582
289,076
354,658
Amortisation and impairment
At 1 January 2024
44,297
131,234
175,531
Amortisation charged for the year
13,116
18,985
32,101
At 31 December 2024
57,413
150,219
207,632
Carrying amount
At 31 December 2024
8,169
138,857
147,026
At 31 December 2023
21,285
116,143
137,428
PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
224,674
351,998
576,672
Additions
-
0
7,886
7,886
Disposals
-
0
(12,742)
(12,742)
At 31 December 2024
224,674
347,142
571,816
Depreciation and impairment
At 1 January 2024
34,702
211,678
246,380
Depreciation charged in the year
4,494
21,887
26,381
Eliminated in respect of disposals
-
0
(12,679)
(12,679)
At 31 December 2024
39,196
220,886
260,082
Carrying amount
At 31 December 2024
185,478
126,256
311,734
At 31 December 2023
189,972
140,320
330,292
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
208,876
237,528
Amounts owed by group undertakings
5,200
5,200
Other debtors
70,885
70,182
284,961
312,910
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
48,000
70,900
Total debtors
332,961
383,810

Amounts owed by group undertakings are unsecured, interest-free and repayable on demand.

Included within other debtors are intercompany loans totalling £4,530 (2023 - £2,005) which are unsecured, interest-free and repayable on demand.

PRESTON BAKER AND ASSOCIATES LIMITED
Preston Baker And Associates Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
61,864
62,593
Trade creditors
227,251
160,414
Taxation and social security
280,938
320,833
Other creditors
681,054
539,535
1,251,107
1,083,375

Included within bank loans is £nil (20 23 - £1 8,250) secured by a fixed and floating charge over the assets of the company and £42,077 (20 23 - £44,343) secured by the UK Government under the Coronavirus Business Interruption Loan Scheme.

Included within other creditors is £58,864 (20 23 - £53,233) secured by a fixed and floating charge over the assets of the company.

Amounts owed to group undertakings are unsecured, interest-free and repayable on demand.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,927
60,162
Other creditors
5,179
64,043
22,106
124,205

Included within bank loans and overdrafts is £16,927 (20 23 - £60,162) secured by the UK Government under the Coronavirus Business Interruption Loan Scheme.

Included within other creditors is £5,179 (20 23 - £64,043) secured by a fixed and floating charge over the assets of the company.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
97,342
255,302
2024-12-31 2024-01-01 false false false 08 December 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr I R Preston Mr J R Baker Ms Sarah-Jane Taylor Mr James Danbury Ms Cathy Evans Mr Alexander Rhodes 07032389 2024-01-01 2024-12-31 07032389 2024-12-31 07032389 2023-12-31 07032389 core:IntangibleAssetsOtherThanGoodwill 2024-12-31 07032389 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-12-31 07032389 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 07032389 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 07032389 core:LandBuildings 2024-12-31 07032389 core:OtherPropertyPlantEquipment 2024-12-31 07032389 core:LandBuildings 2023-12-31 07032389 core:OtherPropertyPlantEquipment 2023-12-31 07032389 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 07032389 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07032389 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 07032389 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 07032389 core:CurrentFinancialInstruments 2024-12-31 07032389 core:CurrentFinancialInstruments 2023-12-31 07032389 core:Non-currentFinancialInstruments 2024-12-31 07032389 core:Non-currentFinancialInstruments 2023-12-31 07032389 core:ShareCapital 2024-12-31 07032389 core:ShareCapital 2023-12-31 07032389 core:RetainedEarningsAccumulatedLosses 2024-12-31 07032389 core:RetainedEarningsAccumulatedLosses 2023-12-31 07032389 bus:Director1 2024-01-01 2024-12-31 07032389 core:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 07032389 core:ComputerSoftware 2024-01-01 2024-12-31 07032389 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 07032389 core:LeaseholdImprovements 2024-01-01 2024-12-31 07032389 core:FurnitureFittings 2024-01-01 2024-12-31 07032389 core:ComputerEquipment 2024-01-01 2024-12-31 07032389 core:MotorVehicles 2024-01-01 2024-12-31 07032389 2023-01-01 2023-12-31 07032389 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 07032389 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 07032389 2023-12-31 07032389 core:LandBuildings 2023-12-31 07032389 core:OtherPropertyPlantEquipment 2023-12-31 07032389 core:LandBuildings 2024-01-01 2024-12-31 07032389 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 07032389 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07032389 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07032389 bus:FRS102 2024-01-01 2024-12-31 07032389 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07032389 bus:Director2 2024-01-01 2024-12-31 07032389 bus:Director3 2024-01-01 2024-12-31 07032389 bus:Director4 2024-01-01 2024-12-31 07032389 bus:Director5 2024-01-01 2024-12-31 07032389 bus:Director6 2024-01-01 2024-12-31 07032389 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP