Company registration number 12197971 (England and Wales)
BAE Beds Limited
Unaudited
financial statements
for the year ended 30 September 2023
PAGES FOR FILING WITH REGISTRAR
BAE Beds Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
BAE Beds Limited
Statement of financial position
as at 30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
29,416
32,840
Tangible assets
4
187
250
29,603
33,090
Current assets
Stocks
35,150
35,000
Debtors
1,948
Cash at bank and in hand
2,373
26,692
37,523
63,640
Creditors: amounts falling due within one year
(59,766)
(55,884)
Net current (liabilities)/assets
(22,243)
7,756
Total assets less current liabilities
7,360
40,846
Creditors: amounts falling due after more than one year
(46,541)
(50,611)
Net liabilities
(39,181)
(9,765)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(39,281)
(9,865)
Total equity
(39,181)
(9,765)
BAE Beds Limited
Statement of financial position (continued)
as at 30 September 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 October 2023
H Malik
Director
Company registration number 12197971 (England and Wales)
BAE Beds Limited
Notes to the Financial Statements
for the year ended 30 September 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Turnover is recognised on the provision of service obligation where a right to consideration is due.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website costs
amortised over 10 years
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
BAE Beds Limited
Notes to the Financial Statements (continued)
for the year ended 30 September 2023
1
Accounting policies
(continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Total
£
Cost
At 1 October 2022 and 30 September 2023
34,240
Amortisation and impairment
At 1 October 2022
1,400
Amortisation charged for the year
3,424
At 30 September 2023
4,824
Carrying amount
At 30 September 2023
29,416
At 30 September 2022
32,840
BAE Beds Limited
Notes to the Financial Statements (continued)
for the year ended 30 September 2023
- 5 -
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 October 2022 and 30 September 2023
600
Depreciation and impairment
At 1 October 2022
350
Depreciation charged in the year
63
At 30 September 2023
413
Carrying amount
At 30 September 2023
187
At 30 September 2022
250
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
6
Company information
BAE Beds Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.