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REGISTERED NUMBER: 01875965 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

W.S. Bayston & Son Limited

W.S. Bayston & Son Limited (Registered number: 01875965)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.S. Bayston & Son Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: R W Bayston



SECRETARY: K Gamble



REGISTERED OFFICE: Coldhill Farm
Aberford
Leeds
LS25 3EE



REGISTERED NUMBER: 01875965 (England and Wales)



ACCOUNTANTS: Northern Tonic Ltd
14 Clifton Moor Business Village
James Nicolson Link
York
YO30 4XG



SOLICITORS: Elmhirst Parker LLP
Abbey Yard
Selby
YO8 4PX

W.S. Bayston & Son Limited (Registered number: 01875965)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,440,833 5,170,127
Investments 5 21,167 16,484
Investment property 6 310,000 230,719
5,772,000 5,417,330

CURRENT ASSETS
Stocks 417,773 392,924
Debtors 7 424,737 973,956
Cash at bank 2,926,594 1,797,272
3,769,104 3,164,152
CREDITORS
Amounts falling due within one year 8 698,846 383,073
NET CURRENT ASSETS 3,070,258 2,781,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,842,258

8,198,409

PROVISIONS FOR LIABILITIES 245,842 142,757
NET ASSETS 8,596,416 8,055,652

CAPITAL AND RESERVES
Called up share capital 11,000 11,000
Share premium 72,750 72,750
Retained earnings 8,512,666 7,971,902
8,596,416 8,055,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)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.

W.S. Bayston & Son Limited (Registered number: 01875965)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 October 2023 and were signed by:





R W Bayston - Director


W.S. Bayston & Son Limited (Registered number: 01875965)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

W.S. Bayston & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 as modified by the revaluation of certain assets.

Turnover and revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount can be reliably measured and it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work and seed in land are valued professionally on an annual basis.

Harvested crops are valued at the lower of cost and net realisable value. Work and seed in land and other inventories are valued at cost.

The costs of work and seed in land comprises direct purchases and, where applicable, direct labour costs and those expenses that have been incurred in bringing the work to its current condition and location.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


W.S. Bayston & Son Limited (Registered number: 01875965)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

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.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 4,754,523 2,079,985 6,834,508
Additions 10,559 709,742 720,301
Disposals - (445,630 ) (445,630 )
At 31 March 2023 4,765,082 2,344,097 7,109,179
DEPRECIATION
At 1 April 2022 399,369 1,265,012 1,664,381
Charge for year 33,984 259,812 293,796
Eliminated on disposal - (289,831 ) (289,831 )
At 31 March 2023 433,353 1,234,993 1,668,346
NET BOOK VALUE
At 31 March 2023 4,331,729 1,109,104 5,440,833
At 31 March 2022 4,355,154 814,973 5,170,127

Included in cost of land and buildings is freehold land of £ 2,780,063 (2022 - £ 2,780,063 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS

Investments consist of:
Rights to receive ground rents £12,424 (2022 £12,856)
Cherished vehicle registration plates £8,743 (2022 £3.627)

Both are shown at cost less any impairments.

W.S. Bayston & Son Limited (Registered number: 01875965)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 230,719
Revaluations 79,281
At 31 March 2023 310,000
NET BOOK VALUE
At 31 March 2023 310,000
At 31 March 2022 230,719

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 79,281
Cost 230,719
310,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 216,918 131,364
Other debtors 207,819 842,592
424,737 973,956

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 124,415
Hire purchase contracts 176,250 -
Trade creditors 188,217 6,140
Taxation and social security 98,955 120,665
Other creditors 235,424 131,853
698,846 383,073

9. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet is £33,867 (2022 £33,867) in respect of leases on farm land and buildings.

10. RELATED PARTY DISCLOSURES

The company had share in a joint venture property development which was disposed of during the previous year on completion of the development. The initial loan and interest charged to the joint venture of £706,171 was fully repaid with the exception of £501 which was written off.

Interest of £49,224 was received from the joint venture in the previous year.