Bailey Drew Commercial Limited Filleted accounts for Companies House (small and micro)

BAILEY DREW COMMERCIAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04934694

Bailey Drew Commercial Limited

Filleted Unaudited Financial Statements

31 December 2021

Bailey Drew Commercial Limited

Statement of Financial Position

31 December 2021

	2021	2020
Note	£	£

Fixed assets

Investments	4	625	625

Current assets

Debtors	5	7,422	–
Cash at bank and in hand		18,895	34,853
		--------	--------
		26,317	34,853

Creditors: amounts falling due within one year	6	7,472	17,637
		--------	--------
Net current assets		18,845	17,216
		--------	--------
Total assets less current liabilities		19,470	17,841
		--------	--------
Net assets		19,470	17,841
		--------	--------

Capital and reserves

Called up share capital	628	628
Profit and loss account	18,842	17,213
	--------	--------
Shareholders funds	19,470	17,841
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2021 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 year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Bailey Drew Commercial Limited

Statement of Financial Position (continued)

31 December 2021

These financial statements were approved by the board of directors and authorised for issue on 12 May 2022 , and are signed on behalf of the board by:

Mr A Bailey
Director

Company registration number: 04934694

Bailey Drew Commercial Limited

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Beardly Batch depot, Cannards Grave, Shepton Mallet, Somerset, BA4 4NB, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2021 and 31 December 2021	625
	----
Impairment
At 1 January 2021 and 31 December 2021	–
	----

Carrying amount
At 31 December 2021	625
	----
At 31 December 2020	625
	----

5. Debtors

	2021	2020
	£	£
Other debtors	7,422	–
	-------	----

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	6,572	17,637
Other creditors	900	–
	-------	--------
	7,472	17,637
	-------	--------

7. Director's advances, credits and guarantees

There were no advances, credits or guarantees that are required to be disclosed.