Company Registration No. 04835673 (England and Wales)
BAXTER & BAXTER LIMITED
Unaudited accounts
for the year ended 31 July 2021
BAXTER & BAXTER LIMITED
Unaudited accounts
Contents
BAXTER & BAXTER LIMITED
Company Information
for the year ended 31 July 2021
Company Number
04835673 (England and Wales)
Registered Office
Midshires House
Smeaton Close
Aylesbury
Buckinghamshire
HP19 8HL
Accountants
MJ Bookkeeping Services Limited
Unit 6 The Courtyard
Milton Road
Aylesbury
Buckinghamshire
HP21 7LZ
BAXTER & BAXTER LIMITED
Statement of financial position
as at 31 July 2021
Tangible assets
44,037
21,473
Cash at bank and in hand
92,809
207,967
Creditors: amounts falling due within one year
(61,125)
(35,687)
Net current assets
109,186
204,656
Total assets less current liabilities
161,223
234,129
Creditors: amounts falling due after more than one year
(20,547)
-
Net assets
140,676
234,129
Called up share capital
4
4
Profit and loss account
140,672
234,125
Shareholders' funds
140,676
234,129
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 April 2022 and were signed on its behalf by
Mr M Baxter
Director
Company Registration No. 04835673
BAXTER & BAXTER LIMITED
Notes to the Accounts
for the year ended 31 July 2021
BAXTER & BAXTER LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04835673. The registered office is Midshires House, Smeaton Close, Aylesbury, Buckinghamshire, HP19 8HL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stock and work in progress
Stock 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on Reducing balance method
Motor vehicles
25% on Reducing balance method
Computer equipment
25% on Reducing balance method
Investments are included at fair value.
Government grants, including non-monetary grants are recognised when there is a reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants are recognised either based on the performance model or the accrual model. This policy is applied on a class-by-class basis.
Amount received under the Coronavirus Job Retention Scheme and council grant are recognised as income based on accrual model.
BAXTER & BAXTER LIMITED
Notes to the Accounts
for the year ended 31 July 2021
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2020
12,937
65,476
4,274
82,687
Additions
-
39,194
617
39,811
Disposals
-
(23,229)
-
(23,229)
At 31 July 2021
12,937
81,441
4,891
99,269
At 1 August 2020
11,658
46,625
2,931
61,214
Charge for the year
320
9,126
451
9,897
On disposals
-
(15,879)
-
(15,879)
At 31 July 2021
11,978
39,872
3,382
55,232
At 31 July 2021
959
41,569
1,509
44,037
At 31 July 2020
1,279
18,851
1,343
21,473
5
Investments
Other investments
Valuation at 1 August 2020
8,000
Valuation at 31 July 2021
8,000
Investments were valued on an open market basis on 31 July 2021 by the director.
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
54,800
25,894
7
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
2,180
-
Trade creditors
34,907
11,417
Taxes and social security
20,872
19,928
Loans from directors
662
536
BAXTER & BAXTER LIMITED
Notes to the Accounts
for the year ended 31 July 2021
8
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
20,547
-
9
Average number of employees
During the year the average number of employees was 4 (2020: 6).
