21 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04353597 2022-03-01 2023-02-28 04353597 2023-02-28 04353597 2022-02-28 04353597 2021-03-01 2022-02-28 04353597 2022-02-28 04353597 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 04353597 core:FurnitureFittings 2022-03-01 2023-02-28 04353597 bus:Director1 2022-03-01 2023-02-28 04353597 core:LandBuildings 2022-02-28 04353597 core:FurnitureFittings 2022-02-28 04353597 core:LandBuildings 2023-02-28 04353597 core:FurnitureFittings 2023-02-28 04353597 core:LandBuildings 2022-03-01 2023-02-28 04353597 core:WithinOneYear 2023-02-28 04353597 core:WithinOneYear 2022-02-28 04353597 core:AfterOneYear 2023-02-28 04353597 core:AfterOneYear 2022-02-28 04353597 core:ShareCapital 2023-02-28 04353597 core:ShareCapital 2022-02-28 04353597 core:RetainedEarningsAccumulatedLosses 2023-02-28 04353597 core:RetainedEarningsAccumulatedLosses 2022-02-28 04353597 core:BetweenOneFiveYears 2023-02-28 04353597 core:BetweenOneFiveYears 2022-02-28 04353597 core:LandBuildings 2022-02-28 04353597 core:FurnitureFittings 2022-02-28 04353597 bus:SmallEntities 2022-03-01 2023-02-28 04353597 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04353597 bus:FullAccounts 2022-03-01 2023-02-28 04353597 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 04353597 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 04353597
BAYLEAF INVESTMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 February 2023
BAYLEAF INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2023
2023
2022
Note
£
£
£
£
Fixed Assets
Tangible assets
5
99,148
117,644
Current Assets
Stocks
857,520
796,283
Debtors
6
96,582
114,328
Cash at bank and in hand
77,010
84,169
--------------
-----------
1,031,112
994,780
Creditors: amounts falling due within one year
7
168,996
192,451
--------------
-----------
Net Current Assets
862,116
802,329
-----------
-----------
Total Assets Less Current Liabilities
961,264
919,973
Creditors: amounts falling due after more than one year
8
82,658
91,667
Provisions
Taxation including deferred tax
12,570
10,680
-----------
-----------
Net Assets
866,036
817,626
-----------
-----------
BAYLEAF INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2023
2023
2022
Note
£
£
£
£
Capital and Reserves
Called up share capital
100
100
Profit and loss account
865,936
817,526
-----------
-----------
Shareholders Funds
866,036
817,626
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 November 2023 , and are signed on behalf of the board by:
P G Knowlson
Director
Company registration number: 04353597
BAYLEAF INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Halifax House, 30 George Street, Hull, East Yorkshire, HU1 3AJ.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover represents amounts receivable for the sale of new and second hand goods.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property Alterations
-
5% straight line
Fixtures and Equipment
-
15% reducing balance
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government Grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 21 (2022: 21 ).
5. Tangible Assets
Property Alterations
Fixtures and equipment
Total
£
£
£
Cost
At 1 March 2022
124,995
288,869
413,864
Additions
3,150
3,150
-----------
-----------
-----------
At 28 February 2023
124,995
292,019
417,014
-----------
-----------
-----------
Depreciation
At 1 March 2022
85,274
210,946
296,220
Charge for the year
6,250
15,396
21,646
-----------
-----------
-----------
At 28 February 2023
91,524
226,342
317,866
-----------
-----------
-----------
Carrying amount
At 28 February 2023
33,471
65,677
99,148
-----------
-----------
-----------
At 28 February 2022
39,721
77,923
117,644
-----------
-----------
-----------
6. Debtors
2023
2022
£
£
Trade debtors
6,173
22,590
Other debtors
90,409
91,738
---------
-----------
96,582
114,328
---------
-----------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
68,333
68,219
Trade creditors
41,749
73,362
Social security and other taxes
47,243
38,778
Other creditors
11,671
12,092
-----------
-----------
168,996
192,451
-----------
-----------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
82,658
91,667
---------
---------
9. Operating Leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Later than 1 year and not later than 5 years
7,620
7,059
--------
--------