|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
|
FOR |
|
BAKER OLDFIELD LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
|
FOR |
|
BAKER OLDFIELD LIMITED |
BAKER OLDFIELD LIMITED (REGISTERED NUMBER: 06845683) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
BAKER OLDFIELD LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Chart House |
2 Effingham Road |
Reigate |
Surrey |
RH2 7JN |
BAKER OLDFIELD LIMITED (REGISTERED NUMBER: 06845683) |
|
BALANCE SHEET |
31 MARCH 2017 |
|
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
|
|
|
CURRENT ASSETS |
Cash at bank |
|
|
|
CREDITORS |
Amounts falling due within one year | 5 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
6 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 10 |
|
|
Retained earnings | 11 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his 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. |
BAKER OLDFIELD LIMITED (REGISTERED NUMBER: 06845683) |
|
BALANCE SHEET - continued |
31 MARCH 2017 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
BAKER OLDFIELD LIMITED (REGISTERED NUMBER: 06845683) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
|
1. | STATUTORY INFORMATION |
|
Baker Oldfield Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Preparation of consolidated financial statements |
The financial statements contain information about Baker Oldfield 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 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
|
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. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
BAKER OLDFIELD LIMITED (REGISTERED NUMBER: 06845683) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
|
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1 April 2016 |
and 31 March 2017 |
|
NET BOOK VALUE |
At 31 March 2017 |
|
At 31 March 2016 |
|
|
Cost or valuation at 31 March 2017 is represented by: |
|
Shares in |
group |
undertakings |
£ |
Valuation in 2016 | 30,000 |
Cost | 4,653,520 |
4,683,520 |
|
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
|
2017 | 2016 |
£ | £ |
Cost | 4,653,520 | 4,653,520 |
|
Fixed asset investments were valued on an open market basis on 31 March 2017 by the company's director . |
|
The company's investments at the balance sheet date in the share capital if companies include the following: |
|
Michael Baker Solicitors Ltd |
Nature of business: Solicitors |
% holding |
Class of shares: |
Ordinary: 100 |
2017 | 2016 |
£ | £ |
Aggregate capital and reserves | 307,173 | 534,485 |
Profit/(loss) for the year | 342,338 | 473,788 |
|
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other loans (see note 7) |
|
|
Amounts owed to group undertakings |
|
|
Accrued expenses |
|
|
|
|
BAKER OLDFIELD LIMITED (REGISTERED NUMBER: 06845683) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
|
6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other loans (see note 7) |
|
|
|
7. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
2017 | 2016 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
|
|
|
Amounts falling due between one and two years: |
Other loans - 1-2 years | 1,200,000 |
|
|
Amounts falling due between two and five years: |
Other loans - 2-5 years |
|
|
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2017 | 2016 |
£ | £ |
Other loans |
|
|
|
National Westminster Bank PLC hold a fixed and floating charge over the undertaking and all property and |
assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant & machinery in |
respect of any monies due or to become due from the company on any account whatsoever. |
|
Michael Baker holds a fixed and floating charge over the undertaking and all property and assets present and |
future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery in respect of |
any monies due or to become due from the company on any account whatsoever. |
|
9. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax | 6,000 | 6,000 |
|
Deferred |
tax |
£ |
Balance at 1 April 2016 |
|
Balance at 31 March 2017 |
|
BAKER OLDFIELD LIMITED (REGISTERED NUMBER: 06845683) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
|
10. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
|
Ordinary | £1 | 50,000 | 50,000 |
|
11. | RESERVES |
Retained |
earnings |
£ |
|
At 1 April 2016 |
|
Profit for the year |
|
At 31 March 2017 |
|
|
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
Included in creditors both falling due within one year and falling due after one year are loan notes of £1,823,189 |
(2016 - £1,892,839) payable to Mr M Baker, director and shareholder of the company. |
|
13. | RELATED PARTY DISCLOSURES |
|
Michael Baker Solicitors Ltd |
A 100% subsidiary company. |
|
During the year Baker Oldfield Limited recieved a dividend of £569,650 (2016:
£112,075) from Michael Bakers Solicitors Ltd. |
|
|
2017 | 2016 |
£ | £ |
Amount due to related party at balance sheet date | 373,939 | 872,839 |
|
|
14. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is M J Baker. |