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Unaudited Financial Statements |
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for the year ended |
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31 January 2017 |
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for |
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Bailey Cooper Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the year ended |
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31 January 2017 |
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for |
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Bailey Cooper Limited |
Bailey Cooper Limited (Registered number: 05020074) |
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Contents of the Financial Statements |
for the year ended 31 January 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Bailey Cooper Limited |
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Company Information |
for the year ended 31 January 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Oak Tree House, Harwood Road |
Northminster Business Park |
Upper Poppleton |
York |
YO26 6QU |
Bailey Cooper Limited (Registered number: 05020074) |
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Balance Sheet |
31 January 2017 |
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31/1/17 | 31/1/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Bailey Cooper Limited (Registered number: 05020074) |
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Notes to the Financial Statements |
for the year ended 31 January 2017 |
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1. | STATUTORY INFORMATION |
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Bailey Cooper Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year in which the financial statements have been prepared under FRS 102. Refer to note 13 for an |
explanation of the transition. |
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The financial statements are presented in Sterling (£). |
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Exemption has been taken from preparing a cash flow statement under FRS 102 Section 1A on the grounds that |
the company qualifies as a small company. |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Tangible fixed assets |
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Photographic equipment | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Financial instruments |
Short term debtors and creditors |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the income statement in other operating |
expenses. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or |
substantively enacted by the balance sheet date. |
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Bailey Cooper Limited (Registered number: 05020074) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Photographic | and | Computer |
equipment | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 February 2016 |
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Additions |
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Disposals | ( |
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At 31 January 2017 |
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DEPRECIATION |
At 1 February 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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5. | STOCKS |
31/1/17 | 31/1/16 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/17 | 31/1/16 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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Bailey Cooper Limited (Registered number: 05020074) |
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Notes to the Financial Statements - continued |
for the year ended 31 January 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/17 | 31/1/16 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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Directors' current accounts | 17,594 | 14,812 |
Accrued expenses |
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8. | PROVISIONS FOR LIABILITIES |
31/1/17 | 31/1/16 |
£ | £ |
Deferred tax | 2,450 | 1,624 |
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Deferred |
tax |
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Balance at 1 February 2016 |
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Charge to Income Statement during year |
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Movement during year |
Balance at 31 January 2017 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/1/17 | 31/1/16 |
value: | £ | £ |
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'A' Ordinary | £1 | 50 | 50 |
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'B' Ordinary | £1 | 50 | 50 |
100 | 100 |
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The 'A' Ordinary shares and 'B' Ordinary shares rank pari passu in all respects. |
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10. | RELATED PARTY DISCLOSURES |
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31/1/17 | 31/1/16 |
£ | £ |
Amount due to the director | 17,594 | 14,812 |
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The directors are considered to be key management personnel. Total remuneration in respect of these |
individuals is £16,120 (2016: £16,120). |
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11. | FIRST YEAR ADOPTION |
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The company has adopted FRS 102 - Section 1A for the first time in the year ended 31 January 2017. |
No adjustments were required upon transition. |