Registered number
03484695
Carter Baynes Limited
Filleted Accounts
31 March 2023
ARA (Bristol) Limited t/a Adams Root & Associates
Chartered Certified Accountants
Bristol
Carter Baynes Limited
Registered number: 03484695
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 852,206 859,483
Current assets
Work in progress - 12,469
Debtors 4 7,174 9,840
Cash at bank and in hand 20,452 35,268
27,626 57,577
Creditors: amounts falling due within one year 5 (7,528) (48,609)
Net current assets 20,098 8,968
Net assets 872,304 868,451
Capital and reserves
Called up share capital 72 72
Profit and loss account 872,232 868,379
Shareholders' funds 872,304 868,451
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
P D Suggitt
Director
Approved by the board on 4 November 2023
Carter Baynes Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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
Work in progress
Work in progress is measured at the lower of cost and estimated selling price less costs to complete and invoice.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 4
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 April 2022 852,206 65,205 917,411
Additions - 292 292
Disposals - (65,497) (65,497)
At 31 March 2023 852,206 - 852,206
Depreciation
At 1 April 2022 - 57,928 57,928
On disposals - (57,928) (57,928)
At 31 March 2023 - - -
Net book value
At 31 March 2023 852,206 - 852,206
At 31 March 2022 852,206 7,277 859,483
4 Debtors 2023 2022
£ £
Trade debtors - 5,544
Other debtors 7,174 4,296
7,174 9,840
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 2,988
Trade creditors 106 -
Taxation and social security costs 5,172 33,573
Other creditors 2,250 12,048
7,528 48,609
6 Controlling party
The company is under the control of its directors by virtue of their ownership of its issued share capital.
7 Other information
Carter Baynes Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 -26 Berkeley Square
Clifton
Bristol
BS8 1HP
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