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Registration number: 08022086

Byarc Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Byarc Limited

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Byarc Limited

Company Information

Director

Mr Adam Cowley

Registered office

14 West View Road
Batheaston
Bath
BA1 7PN

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Byarc Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 April 2023

Note

2023
£

2022
£

Turnover

 

81,735

26,438

Administrative expenses

 

(15,353)

(1,295)

Operating profit

 

66,382

25,143

Other interest receivable and similar income

 

245

10

 

245

10

Profit before tax

66,627

25,153

Taxation

 

(12,749)

(4,770)

Profit for the financial year

 

53,878

20,383

Retained earnings brought forward

 

85,416

103,533

Dividends paid

 

(37,400)

(38,500)

Retained earnings carried forward

 

101,894

85,416

 

Byarc Limited

(Registration number: 08022086)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

         

Fixed assets

   

Tangible assets

4

 

1,303

706

Current assets

   

Debtors

5

13

 

13

Cash at bank and in hand

 

125,924

 

90,306

 

125,937

 

90,319

Creditors: Amounts falling due within one year

6

(24,933)

 

(5,375)

Net current assets

   

101,004

84,944

Total assets less current liabilities

   

102,307

85,650

Provisions for liabilities

 

(313)

(134)

Net assets

   

101,994

85,516

Capital and reserves

   

Called up share capital

100

 

100

Profit and loss account

101,894

 

85,416

Total equity

   

101,994

85,516

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 November 2023
 

 

Byarc Limited

(Registration number: 08022086)
Balance Sheet as at 30 April 2023

.........................................

Mr Adam Cowley
Director

 

Byarc Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

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

The address of its registered office is:
14 West View Road
Batheaston
Bath
BA1 7PN

These financial statements were authorised for issue by the director on 19 November 2023.

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.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Byarc Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Byarc Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 0).

 

Byarc Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2022

5,207

5,207

Additions

1,260

1,260

At 30 April 2023

6,467

6,467

Depreciation

At 1 May 2022

4,501

4,501

Charge for the year

663

663

At 30 April 2023

5,164

5,164

Carrying amount

At 30 April 2023

1,303

1,303

At 30 April 2022

706

706

5

Debtors

Current

2023
£

2022
£

Prepayments

13

13

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

12,600

4,900

Accruals and deferred income

395

395

Other creditors

11,938

80

24,933

5,375

7

Related party transactions

During the year the director maintained a loan account with the company. As at the year end the company owed the director £11,938 (2022 - £81). The loan is repayable on demand and no interest is charged on the outstanding amount.