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Unaudited Financial Statements |
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for the year ended |
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31 January 2022 |
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for |
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Bailey Cooper Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the year ended |
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31 January 2022 |
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for |
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Bailey Cooper Limited |
Bailey Cooper Limited (Registered number: 05020074) |
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Contents of the Financial Statements |
for the year ended 31 January 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Bailey Cooper Limited |
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Company Information |
for the year ended 31 January 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Oak Tree House, Harwood Road |
Northminster Business Park |
Upper Poppleton |
York |
YO26 6QU |
Bailey Cooper Limited (Registered number: 05020074) |
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Balance Sheet |
31 January 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Bailey Cooper Limited (Registered number: 05020074) |
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Balance Sheet - continued |
31 January 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Bailey Cooper Limited (Registered number: 05020074) |
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Notes to the Financial Statements |
for the year ended 31 January 2022 |
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1. | STATUTORY INFORMATION |
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Bailey Cooper Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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There were no material departures from that standard. |
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The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied within the same accounts |
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The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. However the validity of the going concern basis is dependent upon the support of the creditors and the directors. Should the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets as current assets and long term liabilities as current liabilities.. |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Income recognition |
Income is recognised when the conditions contained within a contract for services have been met. |
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Tangible fixed assets |
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Photographic equipment | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
Revenue based grants are credited to the profit and loss account on receipt. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Bailey Cooper Limited (Registered number: 05020074) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2022 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Photographic | and | Computer |
equipment | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2021 |
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Additions |
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Disposals | ( |
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At 31 January 2022 |
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DEPRECIATION |
At 1 February 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2022 |
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NET BOOK VALUE |
At 31 January 2022 |
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At 31 January 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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Bailey Cooper Limited (Registered number: 05020074) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2022 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 5,975 | 43 |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 4,448 | 865 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Bank loans |
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Other loans | 79,786 | 89,849 |
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The company has one bank loan of £12,000 repayable over 10 years with a fixed interest rate of 2.53%. The loan is due to mature in May 2030. |
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Other loans includes 2 secured loans from pension funds: |
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The first is for £58,000 repayable over 5 years with an interest rate of 5%. The loan is due to mature in April 2023 and is secured by fixed and floating first charge over the assets of the company. |
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The second is for £48,604 over 5 years on which interest of 7% pa is accrued. The loan is due to mature in March 2025 and is secured by way of the personal guarantees of the directors. |
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9. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 1,838 | 1,171 |
Bailey Cooper Limited (Registered number: 05020074) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2022 |
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9. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 February 2021 |
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Movement during year | 667 |
Balance at 31 January 2022 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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'A' Ordinary | £1 | 50 | 50 |
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'B' Ordinary | £1 | 50 | 50 |
100 | 100 |
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The 'A' Ordinary shares and 'B' Ordinary shares rank pari passu in all respects. |
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11. | RELATED PARTY DISCLOSURES |
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2021 | 2020 |
£ | £ |
Personnel of the entity: |
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Amount due to directors | 5,975 | 43 |
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No interest has been charged. |