Company Registration No. 09591961 (England and Wales)
BYT Centres Limited
Unaudited accounts
for the year ended 31 March 2023
BYT Centres Limited
Unaudited accounts
Contents
BYT Centres Limited
Company Information
for the year ended 31 March 2023
Director
Mr Edward St John Webster
Company Number
09591961 (England and Wales)
Registered Office
41-43 Castle Street
High Wycombe
Buckinghamshire
HP13 6RN
Accountants
Julia Allnutt Ltd
17 Headlands Business Park
Salisbury Road
Ringwood
Hampshire
BH24 3PB
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of BYT Centres 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
BYT Centres Limited for the year ended
31 March 2023 as set out on pages
5 -
9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of BYT Centres Limited, as a body, in accordance with the terms of our engagement letter dated 16 October 2017. Our work has been undertaken solely to prepare for your approval the accounts of BYT Centres Limited and state those matters that we have agreed to state to the Board of Directors of BYT Centres Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BYT Centres Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that BYT Centres 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 loss of BYT Centres Limited. You consider that BYT Centres 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 BYT Centres 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.
Julia Allnutt Ltd
Chartered Accountants
17 Headlands Business Park
Salisbury Road
Ringwood
Hampshire
BH24 3PB
25 October 2023
BYT Centres Limited
Statement of financial position
as at 31 March 2023
Tangible assets
114,772
162,394
Cash at bank and in hand
70,260
65,062
Creditors: amounts falling due within one year
(755,242)
(565,115)
Net current liabilities
(585,293)
(379,910)
Total assets less current liabilities
(470,521)
(217,516)
Creditors: amounts falling due after more than one year
(28,867)
(31,018)
Provisions for liabilities
Net liabilities
(499,388)
(279,389)
Called up share capital
100
100
Profit and loss account
(499,488)
(279,489)
Shareholders' funds
(499,388)
(279,389)
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 director acknowledges his 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 and authorised for issue on 1 November 2023 and were signed on its behalf by
Mr Edward St John Webster
Director
Company Registration No. 09591961
BYT Centres Limited
Notes to the Accounts
for the year ended 31 March 2023
BYT Centres Limited is a private company, limited by shares, registered in England and Wales, registration number 09591961. The registered office is 41-43 Castle Street, High Wycombe, Buckinghamshire, HP13 6RN.
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:
Fixtures & fittings
4 years straight line
Computer equipment
3 years straight line
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.
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
BYT Centres Limited
Notes to the Accounts
for the year ended 31 March 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
227,576
5,826
233,402
Additions
11,281
3,242
14,523
Disposals
(25,241)
(110)
(25,351)
At 31 March 2023
213,616
8,958
222,574
At 1 April 2022
68,660
2,348
71,008
Charge for the year
47,905
2,674
50,579
On disposals
(13,675)
(110)
(13,785)
At 31 March 2023
102,890
4,912
107,802
At 31 March 2023
110,726
4,046
114,772
At 31 March 2022
158,916
3,478
162,394
BYT Centres Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
28,772
56,663
Deferred tax asset
21,080
-
Accrued income and prepayments
22,953
21,430
Other debtors
26,884
38,654
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,648
10,649
Trade creditors
399,088
171,885
Amounts owed to group undertakings and other participating interests
161,088
216,088
Taxes and social security
100,138
67,765
Other creditors
83,580
98,061
8
Creditors: amounts falling due after more than one year
2023
2022
9
Deferred taxation
2023
2022
Tax losses carried forward
(42,886)
-
Other deferred taxation
21,806
30,855
Provision at start of year
30,855
21,099
(Credited)/charged to the profit and loss account
(51,935)
9,756
Provision at end of year
(21,080)
30,855
10
Transactions with related parties
Amounts owed to group undertakings and other participating interests
BYT Enterprises Limited: 2023: £161,088 (2021: £216,088)
The company is 100% controlled by BYT Enterprises Limited
BYT Centres Limited
Notes to the Accounts
for the year ended 31 March 2023
12
Average number of employees
During the year the average number of employees was 74 (2022: 69).