BAGNALL & KIRKWOOD LIMITED


Directors	Mr A S Guthrie
	Mrs C Guthrie
	Mr R A Guthrie


Registered Address	220 Rothbury Terrace
	Heaton
	Newcastle Upon Tyne
	NE6 5DE


Registered Number	01291497 (England and Wales)

Statement of Financial Position
31 January 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		1,231,007		1,245,358
			1,231,007		1,245,358
Current assets
Stocks	4	457,582		405,367
Debtors	5	7,220		11,105
Cash at bank and on hand		1,333,761		1,049,167
		1,798,563		1,465,639
Creditors amounts falling due within one year	6	(232,051)		(219,235)
Net current assets (liabilities)			1,566,512		1,246,404
Total assets less current liabilities			2,797,519		2,491,762
Provisions for liabilities	7		(60,448)		(63,595)
Net assets			2,737,071		2,428,167
Capital and reserves
Called up share capital			10,750		10,750
Other reserves			10,750		10,750
Profit and loss account			2,715,571		2,406,667
Shareholders' funds			2,737,071		2,428,167

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 14 July 2026, and are signed on its behalf by:

Mr A S Guthrie
Director
Registered Company No. 01291497

BAGNALL & KIRKWOOD LIMITED

Notes to the Financial Statements
for the year ended 31 January 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

	Employee benefits
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Land and buildings are accounted for at cost. They are not depreciated until the accounting period in which they are brought into use. Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Land and buildings are accounted for at cost. They are not depreciated until the accounting period in which they are brought into use.

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	-	10
Fixtures and fittings	25	-
Vehicles	25	-
Office Equipment	25	-

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

	Financial instruments
	Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	7		6

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 February 25	1,139,257	21,700	81,908	66,921	2,186	1,311,972
Additions	30,365	-	-	3,378	357	34,100
At 31 January 26	1,169,622	21,700	81,908	70,299	2,543	1,346,072
Depreciation and impairment
At 01 February 25	5,697	543	52,867	6,262	1,245	66,614
Charge for year	23,093	2,170	7,260	15,671	257	48,451
At 31 January 26	28,790	2,713	60,127	21,933	1,502	115,065
Net book value
At 31 January 26	1,140,832	18,987	21,781	48,366	1,041	1,231,007
At 31 January 25	1,133,560	21,157	29,041	60,659	941	1,245,358

4.	Stocks

	2026	2025
	£	£
Finished goods	457,582	405,367
Total	457,582	405,367

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	2,058	424
Other debtors	1,000	-
Prepayments and accrued income	4,162	10,681
Total	7,220	11,105

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	33,408	58,289
Taxation and social security	163,651	94,312
Other creditors	345	823
Accrued liabilities and deferred income	34,647	65,811
Total	232,051	219,235

7.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	60,448	63,595
Total	60,448	63,595

8.	Related party transactions
	Other debtors in note 6 represents an amount of £1,000 owed by Range 1935 Limited, a company under common control. Included in other creditors in note 7 are loans from directors of £345 (2024: £345), which are unsecured, non-interest bearing and repayable on demand.