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Company No: 03361560 (England and Wales)

BAYSTRAIT LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

BAYSTRAIT LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

BAYSTRAIT LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
BAYSTRAIT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Richard Kenneth Bramham
Graham Roy Dennis
SECRETARY Richard Kenneth Bramham
REGISTERED OFFICE Baystrait House
Station Road
Biggleswade
SG18 8AL
United Kingdom
COMPANY NUMBER 03361560 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
BAYSTRAIT LIMITED

BALANCE SHEET

As at 30 April 2024
BAYSTRAIT LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 1,250 0
Tangible assets 4 612 1,287
1,862 1,287
Current assets
Stocks 11,790 0
Debtors 5 0 1,733
Cash at bank and in hand 6 25,396 38,032
37,186 39,765
Creditors: amounts falling due within one year 7 ( 62,641) ( 64,916)
Net current liabilities (25,455) (25,151)
Total assets less current liabilities (23,593) (23,864)
Creditors: amounts falling due after more than one year 8 ( 6,500) ( 12,500)
Net liabilities ( 30,093) ( 36,364)
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account ( 30,193 ) ( 36,464 )
Total shareholders' deficit ( 30,093) ( 36,364)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Baystrait Limited (registered number: 03361560) were approved and authorised for issue by the Board of Directors on 09 August 2024. They were signed on its behalf by:

Graham Roy Dennis
Director
BAYSTRAIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
BAYSTRAIT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Baystrait Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Baystrait House, Station Road, Biggleswade, SG18 8AL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Office equipment 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Website costs Total
£ £
Cost
At 01 May 2023 0 0
Additions 1,500 1,500
At 30 April 2024 1,500 1,500
Accumulated amortisation
At 01 May 2023 0 0
Charge for the financial year 250 250
At 30 April 2024 250 250
Net book value
At 30 April 2024 1,250 1,250
At 30 April 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 May 2023 2,800 3,500 11,394 17,694
At 30 April 2024 2,800 3,500 11,394 17,694
Accumulated depreciation
At 01 May 2023 2,800 2,766 10,841 16,407
Charge for the financial year 0 147 528 675
At 30 April 2024 2,800 2,913 11,369 17,082
Net book value
At 30 April 2024 0 587 25 612
At 30 April 2023 0 734 553 1,287

5. Debtors

2024 2023
£ £
Trade debtors 0 1,733

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 25,396 38,032

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,000 6,000
Trade creditors 1,497 0
Taxation and social security 33,290 14,987
Other creditors 21,854 43,929
62,641 64,916

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,500 12,500

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100