Company Registration No. 05860104 (England and Wales)
Trevor Bacon Limited
Unaudited accounts
for the year ended 31 March 2023
Trevor Bacon Limited
Unaudited accounts
Contents
Trevor Bacon Limited
Company Information
for the year ended 31 March 2023
Directors
Brenda Bacon
Catherine Joanne Crofts
Susan Louise Puckering
Secretary
Susan Louise Puckering
Company Number
05860104 (England and Wales)
Registered Office
SPINK HALL FARM
SPINK HALL LANE
STOCKSBRIDGE SHEFFIELD
S YORKSHIRE
S36 1FL
Accountants
C&M Accountancy Services Ltd
19 Yoredale Avenue
Chapeltown
Sheffield
South Yorkshire
S35 2ZW
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Trevor Bacon Limited
for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Trevor Bacon Limited for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of Trevor Bacon Limited, as a body, in accordance with the terms of our engagement letter dated 1 January 2014. Our work has been undertaken solely to prepare for your approval the accounts of Trevor Bacon Limited and state those matters that we have agreed to state to the Board of Directors of Trevor Bacon Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trevor Bacon Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Trevor Bacon Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Trevor Bacon Limited. You consider that Trevor Bacon Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Trevor Bacon Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
C&M Accountancy Services Ltd
Member in Practice
19 Yoredale Avenue
Chapeltown
Sheffield
South Yorkshire
S35 2ZW
19 October 2023
Trevor Bacon Limited
Statement of financial position
as at 31 March 2023
Intangible assets
10,250
13,250
Investment property
1,010,000
720,000
Cash at bank and in hand
46,602
36,565
Creditors: amounts falling due within one year
(57,006)
(54,053)
Net current assets/(liabilities)
2,731
(7,631)
Total assets less current liabilities
1,022,981
725,619
Creditors: amounts falling due after more than one year
(150,000)
(150,000)
Net assets
872,981
575,619
Called up share capital
50
50
Revaluation reserve
649,501
359,501
Profit and loss account
223,430
216,068
Shareholders' funds
872,981
575,619
For the year ending 31 March 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by
Susan Louise Puckering
Director
Company Registration No. 05860104
Trevor Bacon Limited
Notes to the Accounts
for the year ended 31 March 2023
Trevor Bacon Limited is a private company, limited by shares, registered in England and Wales, registration number 05860104. The registered office is SPINK HALL FARM, SPINK HALL LANE, STOCKSBRIDGE SHEFFIELD, S YORKSHIRE, S36 1FL.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Trevor Bacon Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Fair value at 1 April 2022
720,000
Net gain from fair value adjustments
290,000
At 31 March 2023
1,010,000
Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary toto the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
Amounts falling due within one year
Deferred tax asset
905
1,103
Trevor Bacon Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due within one year
2023
2022
Trade creditors
3,782
1,886
Taxes and social security
2,276
1,251
Loans from directors
50,176
50,176
9
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
150,000
150,000
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).