Registered number: 04303484
BAKER HOMES LIMITED
FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019
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BAKER HOMES LIMITED
REGISTERED NUMBER: 04303484
BALANCE SHEET
AS AT 30 JUNE 2019
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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BAKER HOMES LIMITED
REGISTERED NUMBER: 04303484
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2019
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 5 form part of these financial statements.
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BAKER HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019
Baker Homes Limited is a private company limited by shares incorporated in England and Wales, registration number 04303484.
The registered office address is 8 Whiting Street, Bury St Edmunds, Suffolk.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Investments in subsidiaries are measured at cost less accumulated impairment.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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The average monthly number of employees, including directors, during the year was 2 (2018 - 2).
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BAKER HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019
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Investments in subsidiary companies
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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BAKER HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019
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Allotted, called up and fully paid
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498 (2018 - 498) Ordinary S shares of £1.00 each
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500 (2018 - 500) Ordinary U shares of £1.00 each
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2 (2018 - 2) Ordinary shares of £1.00 each
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9.Directors' personal guarantees
J E Baker has given a personal guarantee in respect of cetain borrowings.
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Related party transactions
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Included in creditors are balances due to the directors including current accounts totalling £19,013 (2018 - £19,836) and loan balances of £1,000,000 (2018 - £1,000,000) due to PJ Underwood which is interest free and repayable on demand.
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