Bailey Holdings Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 10

Bailey Holdings Limited

Balance Sheet

31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	567,378	691,203
Investment property	5	9,030,118	9,030,118
Investments	6	1	1
		9,597,497	9,721,322
Current assets
Debtors	7	1,554,858	1,528,607
Cash at bank and in hand		138,892	111,370
		1,693,750	1,639,977
Creditors: Amounts falling due within one year	8	(2,707,582)	(3,231,886)
Net current liabilities		(1,013,832)	(1,591,909)
Total assets less current liabilities		8,583,665	8,129,413
Provisions for liabilities		(952,782)	(980,651)
Net assets		7,630,883	7,148,762
Capital and reserves
Called up share capital	10	2	2
Other reserves		3,254,452	3,254,452
Profit and loss account		4,376,429	3,894,308
Shareholders' funds		7,630,883	7,148,762

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 September 2026 and signed on its behalf by:
 

......................................... M G Bailey Director

Company Registration Number: 06010084

Bailey Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2026

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:
Venayr Goonearl
Scorrier
Redruth
Cornwall
TR16 5EB

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The functional and presentational currency for the company is pounds sterling, with values rounded to the nearest pound.

Basis of preparation

These 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.

Group accounts not prepared

Bailey Holdings Limited has claimed exemption from the requirement to prepare consolidated financial statements on the basis that it is the parent of a small group.

Going concern

In preparing and approving these financial statements the Board have given due consideration to going concern risks, in particular economic uncertainties and inflationary pressures. The company trades from a strong net asset base however has seen a material impact in its rental collection in the period.

After due consideration the Board are satisfied that the Company will be able to operate within the available facilities and continue as a going concern for the foreseeable future - being a period of no less than 12 months from the date of approval of these financial statements.

Bailey Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2026

Revenue recognition

Turnover represents rent and hire charges received by the company.

Turnover is recognised when the company fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.

Interest receivable is recognised on an accruals basis.

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 corporation 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.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% - 20% straight line
Motor vehicles	10% straight line

Bailey Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2026

Investment property

Investment property is carried at fair value which is derived by the Directors. In making this assessment the Directors make use of observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

Changes in fair value are recognised in profit or loss.

The cumulative impact of fair value movements, net of deferred tax, is shown as an other reserve within the balance sheet.

Investments

Investments at the balance sheet date relate to shareholdings in a subsidiary undertaking and are stated at cost.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

Bailey Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2026

Critical judgements and estimation uncertainty

In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following areas are where the Directors have applied judgement in the preparation of the financial statements:

Valuation of investment properties
As described within the accounting policies, the investment properties are held at the balance sheet date at their market value. The directors have applied their professional knowledge of the sector, coupled with discussions with other professionals in evaluating opportunities in order to derive market values.

At the balance sheet date the carrying value of investment property was £9,030,118 (2025 - £9,030,118).

3	Staff numbers

The average number of persons employed by the company (excluding directors) during the year, was 0 (2025 - 0).

Bailey Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2026

4	Tangible assets

	Motor vehicles  £	Plant and machinery  £	Total £
Cost or valuation
At 1 February 2025	1,093,400	304,188	1,397,588
At 31 January 2026	1,093,400	304,188	1,397,588
Depreciation
At 1 February 2025	455,575	250,810	706,385
Charge for the year	109,338	14,487	123,825
At 31 January 2026	564,913	265,297	830,210
Carrying amount
At 31 January 2026	528,487	38,891	567,378
At 31 January 2025	637,825	53,378	691,203

5	Investment properties

	2026 £
At 1 February 2025	9,030,118
At 31 January 2026	9,030,118

The fair value of the company's investment property was revalued on 31 January 2025 based on a directors valuation leveraging third party information. The basis of this valuation was open market value. The directors have reviewed the value of the company's investment property as at 31 January 2026 and are confident it is materially consistent with the fair value.