BAOLeary Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10709160 (England and Wales)

BAOLeary Limited

Unaudited Financial Statements

for the Year Ended 29 April 2023

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

B A O'Leary

Registered office:

Mynshull House

78 Churchgate

Stockport

Cheshire

SK1 1YJ

Registered number:

10709160 (England and Wales)

Accountants:

Warr & Co Limited

Chartered Accountants

Mynshull House

78 Churchgate

Stockport

Cheshire

SK1 1YJ

Fixed assets

Investment property

4

243,000

243,000

Current assets

Debtors

5

2,425

405

Cash at bank

35

405

2,460

810

Creditors

Amounts falling due within one year

6

150,810

123,290

Net current liabilities

(148,350

)

(122,480

)

Total assets less current liabilities

94,650

120,520

Creditors

Amounts falling due after more than one year

7

133,306

156,883

Net liabilities

(38,656

)

(36,363

)

Capital and reserves

Called up share capital

9

100

100

Retained earnings

(38,756

)

(36,463

)

Shareholders' funds

(38,656

)

(36,363

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 18 January 2024 and were signed by:

B A O'Leary - Director

1.	Statutory information

BAOLeary Limited is a private company, limited by shares , registered in England and Wales. The 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

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

3.	Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

4.	Investment property

Total

£

Fair value

At 30 April 2022

and 29 April 2023

243,000

Net book value

At 29 April 2023

243,000

At 29 April 2022

243,000

Fair value at 29 April 2023 is represented by:

£

Valuation in 2023

243,000

If the investment property had not been revalued it would have been included at the following historical cost:

29.4.23

29.4.22

£

£

Cost

243,000

243,000

The investment property was valued on an open market basis basis on 29 April 2023 by the director .

5.

Debtors: amounts falling due within one year

29.4.23

29.4.22

£

£

Other debtors

2,425

405

6.

Creditors: amounts falling due within one year

29.4.23

29.4.22

£

£

Bank loans and overdrafts

4,956

4,956

Trade creditors

-

418

Directors' current accounts

144,966

117,058

Accrued expenses

888

858

150,810

123,290

7.

Creditors: amounts falling due after more than one year

29.4.23

29.4.22

£

£

Bank loans - 2-5 years

23,100

23,100

Bank loans repayable after more than five years

110,206

133,783

133,306

156,883

Amounts falling due in more than five years:

Repayable by instalments

Bank loans repayable after more than five years

110,206

133,783

8.	Secured debts

The following secured debts are included within creditors:

29.4.23

29.4.22

£

£

Bank loans

138,262

161,839

The bank loan is secured on the company's property.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.4.23

29.4.22

value:

£

£

100

Ordinary

1

100

100