Company No: 02703372 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

		2020		2019
	Note	£		£
Fixed assets
Intangible assets	4	37,149		40,649
Tangible assets	5	9,620		12,017
		46,769		52,666
Current assets
Debtors	6	634,502		522,560
Cash at bank and in hand		608,182		638,255
		1,242,684		1,160,815
Creditors
Amounts falling due within one year	7	( 356,986)		( 358,447)
Net current assets		885,698		802,368
Total assets less current liabilities		932,467		855,034
Provisions for liabilities		( 1,828)		( 2,283)
Net assets		930,639		852,751
Capital and reserves
Called-up share capital		200		200
Profit and loss account		930,439		852,551
Total shareholder's funds		930,639		852,751

For the financial year ending 30 April 2020 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 financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Baily Garner (Health & Safety) Limited (registered number: 02703372) were approved and authorised for issue by the Director on 18 August 2020. They were signed on its behalf by:

Paul Nicholas Lennon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Baily Garner (Health & Safety) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 34 Lafone Street, London, Lafone Street, London, SE1 2LX, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Baily Garner (Health & Safety) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 and after eliminating sales within the company. 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.

Taxation

Current 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.

Research and development claims are recognised on receipt of the refund from HMRC.

Intangible assets

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

Database development costs - 33% Straight Line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures, fittings & equipment - 25% straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. 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 transaction.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

2. Critical accounting judgements

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic 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.

.

3. Employees

	2020	2019
	Number	Number
Monthly average number of persons employed by the Company during the year, including director	12	11

4. Intangible assets

	Computer software	Total
	£	£
Cost
At 01 May 2019	62,676	62,676
Additions	21,970	21,970
At 30 April 2020	84,646	84,646
Accumulated amortisation
At 01 May 2019	22,027	22,027
Charge for the financial year	25,470	25,470
At 30 April 2020	47,497	47,497
Net book value
At 30 April 2020	37,149	37,149
At 30 April 2019	40,649	40,649

5. Tangible assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost/Valuation
At 01 May 2019	9,807	41,035	50,842
Additions	0	3,824	3,824
At 30 April 2020	9,807	44,858	54,665
Accumulated depreciation
At 01 May 2019	3,347	35,478	38,825
Charge for the financial year	1,374	4,847	6,220
At 30 April 2020	4,721	40,324	45,045
Net book value
At 30 April 2020	5,086	4,534	9,620
At 30 April 2019	6,460	5,557	12,017

6. Debtors

	2020	2019
	£	£
Trade debtors	541,311	455,620
Amounts recoverable on contracts	69,744	63,340
Prepayments and accrued income	5,947	3,600
Other debtors	17,500	0
	634,502	522,560

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	37,811	25,647
Amounts owed to directors	0	71
Other creditors	17,169	52,451
Accruals and deferred income	71,256	51,854
Corporation tax	77,761	76,134
Other taxation and social security	152,989	152,290
	356,986	358,447

8. Related party transactions

Transactions with owners holding a participating interest in the entity

	2020	2019
	£	£
Amounts payable to related party	7,500	71
Amounts payable from related party	17,500	0

An advance was made to a shareholder during the period for £17,500. Repayments during the period totalled £71.

9. Non adjusting events after the financial period

At the time of signing these accounts, the country is making a staged exit from a lockdown situation which has not materially affected the company.