Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31222022-04-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02460503 2022-04-01 2023-03-31 02460503 2021-04-01 2022-03-31 02460503 2023-03-31 02460503 2022-03-31 02460503 c:Director1 2022-04-01 2023-03-31 02460503 d:FreeholdInvestmentProperty 2023-03-31 02460503 d:FreeholdInvestmentProperty 2022-03-31 02460503 d:CurrentFinancialInstruments 2023-03-31 02460503 d:CurrentFinancialInstruments 2022-03-31 02460503 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02460503 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 02460503 d:ShareCapital 2023-03-31 02460503 d:ShareCapital 2022-03-31 02460503 d:RevaluationReserve 2023-03-31 02460503 d:RevaluationReserve 2022-03-31 02460503 d:RetainedEarningsAccumulatedLosses 2023-03-31 02460503 d:RetainedEarningsAccumulatedLosses 2022-03-31 02460503 c:FRS102 2022-04-01 2023-03-31 02460503 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 02460503 c:FullAccounts 2022-04-01 2023-03-31 02460503 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02460503 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 02460503










BAYERSOUND LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
BAYERSOUND LIMITED
 

CONTENTS



Page
Balance sheet
 
1
Notes to the financial statements
 
2 - 4


 
BAYERSOUND LIMITED
REGISTERED NUMBER: 02460503

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
92,056
99,480

Investment property
 5 
275,000
275,000

  
367,056
374,480

Current assets
  

Debtors
 6 
535
1,612

Cash at bank and in hand
  
48,512
60,959

  
49,047
62,571

Creditors: amounts falling due within one year
 7 
(9,158)
(3,254)

Net current assets
  
 
 
39,889
 
 
59,317

  

Net assets
  
406,945
433,797


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
64,402
64,402

Profit and loss account
  
342,443
369,295

  
406,945
433,797


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 on 19 October 2023.

R N Johnson
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
BAYERSOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Bayersound Limited (the Company) is a private company limited by shares. The Company is incorporated and domiciled in England. The address of its registered office is Rutland House, 148 Edmund Street, Birmingham, B3 2FD. The principal place of business is Unit 15, Enfield Industrial Estate, Redditch, Worcester, B97 6BG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of rents receivable during the year, exclusive of Value Added Tax.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.4

Valuation of investments

Investments are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the year.

 
2.5

Debtors

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.

 
2.6

Financial instruments

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 ordinary shares.

Page 2

 
BAYERSOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Creditors

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investments





Corporate bond

£



Valuation


At 1 April 2022
99,480


Revaluations
(7,424)



At 31 March 2023
92,056





5.


Investment properties


Freehold investment properties

£



Valuation


At 1 April 2022
275,000



At 31 March 2023
275,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



Page 3

 
BAYERSOUND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
402

Other debtors
535
1,210

535
1,612



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,862
344

Other taxation and social security
986
-

Other creditors
2,960
960

Accruals and deferred income
2,350
1,950

9,158
3,254


 
Page 4