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Registration number: 00667763

Bayton Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 15 August 2023

 

Bayton Properties Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Bayton Properties Limited

(Registration number: 00667763)
Statement of Financial Position as at 15 August 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

1,324,869

1,382,862

Current assets

 

Debtors

5

6,693

4,494

Cash at bank and in hand

 

10,050

7,425

 

16,743

11,919

Creditors: Amounts falling due within one year

6

(10,361)

(5,943)

Net current assets

 

6,382

5,976

Total assets less current liabilities

 

1,331,251

1,388,838

Provisions for liabilities

(113,124)

(134,908)

Net assets

 

1,218,127

1,253,930

Capital and reserves

 

Called up share capital

1,000

1,000

Other reserves

339,682

404,435

Profit and loss account

877,445

848,495

Shareholders' funds

 

1,218,127

1,253,930

 

Bayton Properties Limited

(Registration number: 00667763)
Statement of Financial Position as at 15 August 2023 (continued)

For the financial year ending 15 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 13 November 2023 and signed on its behalf by:
 


C B Winter Evans
Director

 

Bayton Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 15 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is the management of investments.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable on investments held.

 

Bayton Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 15 August 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Fixed asset investments are included at fair value. Any changes in fair value are recognised in the Income statement. Deferred taxation is provided on the potential gains at the rate expected to apply when the investments are sold.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Bayton Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 15 August 2023 (continued)

4

Investments

Other investments other than loans
£

Total
£

Investments

Cost or valuation

At 16 August 2022

1,382,862

1,382,862

Fair value adjustments

(57,414)

(57,414)

Additions

146,972

146,972

Disposals

(147,551)

(147,551)

At 15 August 2023

1,324,869

1,324,869

Impairment

Carrying amount

At 15 August 2023

1,324,869

1,324,869

The cost value of the investments at 31 March 2023 are £872,369 (2022: £843,225).

5

Debtors

Current

2023
£

2022
£

Other debtors

6,693

4,494

 

6,693

4,494

 

Bayton Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 15 August 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

7,391

3,182

Accruals and deferred income

2,970

2,760

Other creditors

-

1

10,361

5,943

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

The distributable reserves of the company as at 15 August 2023 are £877,444 (2022: £848,495).