Registration number: 06528348

Bailey Financial Services (Whitestake) Limited

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 9

Bailey Financial Services (Whitestake) Limited

Company Information

Director

Mr M R A Bailey

Registered office

Thomas House Meadowcroft Business Park Pope Lane Whitestake Lancashire PR4 4AZ

Bailey Financial Services (Whitestake) Limited

(Registration number: 06528348)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	72,000	144,000
Investments	5	100	100
		72,100	144,100
Current assets
Debtors	6	1,720,519	1,217,402
Creditors: Amounts falling due within one year		(782,826)	(613,265)
Net current assets		937,693	604,137
Net assets		1,009,793	748,237
Capital and reserves
Called up share capital		100	100
Retained earnings		1,009,693	748,137
Shareholders' funds		1,009,793	748,237

Bailey Financial Services (Whitestake) Limited

(Registration number: 06528348)
Abridged Balance Sheet as at 31 March 2025 (continued)

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 December 2025
 

......................................... Mr M R A Bailey Director

Bailey Financial Services (Whitestake) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Thomas House
Meadowcroft Business Park
Pope Lane
Whitestake
Lancashire
PR4 4AZ

The principal place of business is:
Slater House
Meadowcroft Business Park
Pope Lane
Whitestake
Lancashire
PR4 4BA

These financial statements were authorised for issue by the director on 11 December 2025.

2	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 abridged 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 abridged 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.

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

Bailey Financial Services (Whitestake) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Group accounts not prepared

The financial statements contain information about Bailey Financial Services (Whitestake) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 399 of the Companies Act 2006 not to prepare consolidated financial statements..

Judgements

No significant judgements have had to be made by management and directors in preparing these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Government grants

The company recognises government grants on the accruals model under FRS102.

Grants that compensate the company for expenses incurred are recognised in profit or loss on a systematic basis in the periods in which the expenses are recognised.

Tax

The tax expense for the period comprises current 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Bailey Financial Services (Whitestake) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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

Bailey Financial Services (Whitestake) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

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.

Financial instruments

Classification
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 statement of financial position 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 liability simultaneously.

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

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

 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Bailey Financial Services (Whitestake) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025 (continued)

4	Intangible assets

	Total £
Cost or valuation
At 1 April 2024	720,000
At 31 March 2025	720,000
Amortisation
At 1 April 2024	576,000
Amortisation charge	72,000
At 31 March 2025	648,000
Carrying amount
At 31 March 2025	72,000
At 31 March 2024	144,000

5	Investments

	Total £
Cost or valuation
At 1 April 2024	100
Provision
Carrying amount
At 31 March 2025	100
At 31 March 2024	100