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REGISTERED NUMBER: NI034003 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Byset Limited

Byset Limited (Registered number: NI034003)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Byset Limited

Company Information
for the year ended 31 July 2023







DIRECTORS: L T Frazer
D L Frazer





REGISTERED OFFICE: 81 Fort Road
Ballylesson
Belfast
Co. Antrim
BT8 8LX





REGISTERED NUMBER: NI034003 (Northern Ireland)





ACCOUNTANTS: Cleaver Black
Chartered Accountants
Suite 5 Ormeau House
91-97 Ormeau Road
Belfast
Co. Antrim
BT7 1SH

Byset Limited (Registered number: NI034003)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 208,486 202,816
Investment property 5 233,773 233,773
442,259 436,589

CURRENT ASSETS
Debtors 6 25,300 31,500
Investments 7 - 26,364
Cash at bank 37,702 28,489
63,002 86,353
CREDITORS
Amounts falling due within one year 8 (125,221 ) (155,475 )
NET CURRENT LIABILITIES (62,219 ) (69,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

380,040

367,467

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 370,040 357,467
380,040 367,467

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Byset Limited (Registered number: NI034003)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2023 and were signed on its behalf by:





L T Frazer - Director


Byset Limited (Registered number: NI034003)

Notes to the Financial Statements
for the year ended 31 July 2023

1. STATUTORY INFORMATION

Byset Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2022 202,817
Revaluations 5,669
At 31 July 2023 208,486
NET BOOK VALUE
At 31 July 2023 208,486
At 31 July 2022 202,817

Byset Limited (Registered number: NI034003)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 July 2023 is represented by:

Other
investments
£   
Valuation in 2023 208,486

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 233,773
NET BOOK VALUE
At 31 July 2023 233,773
At 31 July 2022 233,773

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2023 233,773

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 25,000 31,500
Prepayments and accrued income 300 -
25,300 31,500

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments - 26,364

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 2,648 6,402
Directors' current accounts 121,073 148,073
Accrued expenses 1,500 1,000
125,221 155,475