Registered number
11256576
Baynes Local Limited
Filleted Accounts
31 March 2023
Baynes Local Limited
Registered number: 11256576
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 28,577 34,927
Current assets
Stocks 89,000 75,000
Debtors 4 4,000 4,000
Cash at bank and in hand 67,427 38,639
160,427 117,639
Creditors: amounts falling due within one year 5 (193,036) (158,242)
Net current liabilities (32,609) (40,603)
Net liabilities (4,032) (5,676)
Capital and reserves
Called up share capital 100 100
Profit and loss account (4,132) (5,776)
Shareholder's funds (4,032) (5,676)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ercan SAHIN
Director
Approved by the board on 20 November 2023
Baynes Local Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 3,178 25,417 27,630 56,225
At 31 March 2023 3,178 25,417 27,630 56,225
Depreciation
At 1 April 2022 - 14,412 6,886 21,298
Charge for the year - 2,201 4,149 6,350
At 31 March 2023 - 16,613 11,035 27,648
Net book value
At 31 March 2023 3,178 8,804 16,595 28,577
At 31 March 2022 3,178 11,005 20,744 34,927
4 Debtors 2023 2022
£ £
Other debtors 4,000 4,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 7,108 9,643
Trade creditors 4,000 -
Taxation and social security costs 2,131 1,552
Other creditors 179,797 147,047
193,036 158,242
6 Controlling party
Mr Ercan Sahin, a company director controls the company by virtue of holding 100% of the issued share capital.
7 Other information
Baynes Local Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Clock House Parade
North Circular Road
London
N13 6BG
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