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Company Registration No. 05783210 (England and Wales)
Bayfield Electrical Ltd Unaudited accounts for the year ended 31 March 2024
Bayfield Electrical Ltd Unaudited accounts Contents
Page
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Bayfield Electrical Ltd Company Information for the year ended 31 March 2024
Directors
K J Hall D I Allison
Secretary
Mrs H M Hall
Company Number
05783210 (England and Wales)
Registered Office
UNIT 11 RIVERSIDE VIEW WICKHAM MARKET WOODBRIDGE SUFFOLK IP13 0TA
Accountants
MBS Accountancy Services Ltd Garden House, 11 Judith Avenue Knodishall SAXMUNDHAM Suffolk IP17 1UY
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Bayfield Electrical Ltd Accountants' report
Accountants' report to the board of directors of Bayfield Electrical Ltd (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 March 2024. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
MBS Accountancy Services Ltd Garden House, 11 Judith Avenue Knodishall SAXMUNDHAM Suffolk IP17 1UY 29 July 2024
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Bayfield Electrical Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
151,500 
116,113 
Current assets
Inventories
12,000 
12,000 
Debtors
196,324 
130,063 
Cash at bank and in hand
22,227 
2,158 
230,551 
144,221 
Creditors: amounts falling due within one year
(205,163)
(151,751)
Net current assets/(liabilities)
25,388 
(7,530)
Total assets less current liabilities
176,888 
108,583 
Creditors: amounts falling due after more than one year
(74,702)
(58,757)
Provisions for liabilities
Deferred tax
(28,000)
(12,000)
Net assets
74,186 
37,826 
Capital and reserves
Called up share capital
5 
5 
Profit and loss account
74,181 
37,821 
Shareholders' funds
74,186 
37,826 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by
K J Hall Director Company Registration No. 05783210
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Bayfield Electrical Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Bayfield Electrical Ltd is a private company, limited by shares, registered in England and Wales, registration number 05783210. The registered office is UNIT 11 RIVERSIDE VIEW, WICKHAM MARKET, WOODBRIDGE, SUFFOLK, IP13 0TA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
35,816 
194,204 
230,020 
Additions
3,492 
80,985 
84,477 
Disposals
- 
(39,129)
(39,129)
At 31 March 2024
39,308 
236,060 
275,368 
Depreciation
At 1 April 2023
29,052 
84,855 
113,907 
Charge for the year
2,052 
25,330 
27,382 
On disposals
- 
(17,421)
(17,421)
At 31 March 2024
31,104 
92,764 
123,868 
Net book value
At 31 March 2024
8,204 
143,296 
151,500 
At 31 March 2023
6,764 
109,349 
116,113 
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Bayfield Electrical Ltd Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
166,710 
123,780 
Other debtors
29,614 
6,283 
196,324 
130,063 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Obligations under finance leases and hire purchase contracts
27,784 
23,234 
Trade creditors
138,265 
80,540 
Taxes and social security
19,923 
18,316 
Loans from directors
9,191 
19,661 
205,163 
151,751 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,845 
20,848 
Obligations under finance leases and hire purchase contracts
63,857 
37,909 
74,702 
58,757 
8
Average number of employees
During the year the average number of employees was 16 (2023: 13).
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