Baxter & Baxter Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04835673 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2019

FOR

BAXTER & BAXTER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

6

DIRECTORS:

M D Baxter

Mrs A Baxter

SECRETARY:

Mrs A Baxter

REGISTERED OFFICE:

Cotsworthy

Nash Lee Lane

Wendover

Buckinghamshire

HP22 6BG

REGISTERED NUMBER:

04835673 (England and Wales)

ACCOUNTANTS:

Beacons

Chartered Accountants

30 High Street

Wendover

Buckinghamshire

HP22 6EA

FIXED ASSETS

Tangible assets

4

28,631

21,682

Investments

5

77,325

58,332

105,956

80,014

CURRENT ASSETS

Stocks

6,320

6,020

Debtors

6

54,210

109,530

Cash at bank

165,539

105,012

226,069

220,562

CREDITORS

Amounts falling due within one year

7

63,436

82,440

NET CURRENT ASSETS

162,633

138,122

TOTAL ASSETS LESS CURRENT LIABILITIES

268,589

218,136

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

268,585

218,132

SHAREHOLDERS' FUNDS

268,589

218,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 11 November 2019 and were signed on its behalf by:

M D Baxter - Director

1.	STATUTORY INFORMATION

Baxter & Baxter 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2018

66,196

Additions

16,491

At 31 July 2019

82,687

DEPRECIATION

At 1 August 2018

44,514

Charge for year

9,542

At 31 July 2019

54,056

NET BOOK VALUE

At 31 July 2019

28,631

At 31 July 2018

21,682

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.7.19

31.7.18

£

£

E Type Jaguar

77,325

58,332

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

54,210

109,530

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade creditors

25,244

28,453

Taxation and social security

31,297

43,656

Other creditors

6,895

10,331

63,436

82,440

8.	CONTINGENT LIABILITIES

There are no contingent liabilities at 31 July 2019 (2018: Nil).

9.	CAPITAL COMMITMENTS

There are no capital commitments at 31 July 2019 (2018: Nil).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is M D Baxter.

The ultimate controlling party is M D Baxter.

The company is controlled by Mr M D Baxter,a director and 75% shareholder in the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2019 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Beacons

Chartered Accountants

30 High Street

Wendover

Buckinghamshire

HP22 6EA

11 November 2019