2023-04-012024-03-312024-03-31false11352152Bayley & Swift Limited2024-09-1141202iso4217:GBPxbrli:pure113521522023-04-01113521522024-03-31113521522023-04-012024-03-31113521522021-12-01113521522023-03-31113521522021-12-012023-03-3111352152bus:SmallEntities2023-04-012024-03-3111352152bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3111352152bus:FullAccounts2023-04-012024-03-3111352152bus:PrivateLimitedCompanyLtd2023-04-012024-03-3111352152core:WithinOneYear2024-03-3111352152core:AfterOneYear2024-03-3111352152core:WithinOneYear2023-03-3111352152core:AfterOneYear2023-03-3111352152core:ShareCapital2024-03-3111352152core:SharePremium2024-03-3111352152core:RevaluationReserve2024-03-3111352152core:OtherReservesSubtotal2024-03-3111352152core:RetainedEarningsAccumulatedLosses2024-03-3111352152core:ShareCapital2023-03-3111352152core:SharePremium2023-03-3111352152core:RevaluationReserve2023-03-3111352152core:OtherReservesSubtotal2023-03-3111352152core:RetainedEarningsAccumulatedLosses2023-03-3111352152core:LandBuildings2024-03-3111352152core:PlantMachinery2024-03-3111352152core:Vehicles2024-03-3111352152core:FurnitureFittings2024-03-3111352152core:OfficeEquipment2024-03-3111352152core:NetGoodwill2024-03-3111352152core:IntangibleAssetsOtherThanGoodwill2024-03-3111352152core:ListedExchangeTraded2024-03-3111352152core:UnlistedNon-exchangeTraded2024-03-3111352152core:LandBuildings2023-03-3111352152core:PlantMachinery2023-03-3111352152core:Vehicles2023-03-3111352152core:FurnitureFittings2023-03-3111352152core:OfficeEquipment2023-03-3111352152core:NetGoodwill2023-03-3111352152core:IntangibleAssetsOtherThanGoodwill2023-03-3111352152core:ListedExchangeTraded2023-03-3111352152core:UnlistedNon-exchangeTraded2023-03-3111352152core:LandBuildings2023-04-012024-03-3111352152core:PlantMachinery2023-04-012024-03-3111352152core:Vehicles2023-04-012024-03-3111352152core:FurnitureFittings2023-04-012024-03-3111352152core:OfficeEquipment2023-04-012024-03-3111352152core:NetGoodwill2023-04-012024-03-3111352152core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3111352152core:ListedExchangeTraded2023-04-012024-03-3111352152core:UnlistedNon-exchangeTraded2023-04-012024-03-3111352152core:MoreThanFiveYears2023-04-012024-03-3111352152core:Non-currentFinancialInstruments2024-03-3111352152core:Non-currentFinancialInstruments2023-03-3111352152dpl:CostSales2023-04-012024-03-3111352152dpl:DistributionCosts2023-04-012024-03-3111352152core:LandBuildings2023-04-012024-03-3111352152core:PlantMachinery2023-04-012024-03-3111352152core:Vehicles2023-04-012024-03-3111352152core:FurnitureFittings2023-04-012024-03-3111352152core:OfficeEquipment2023-04-012024-03-3111352152dpl:AdministrativeExpenses2023-04-012024-03-3111352152core:NetGoodwill2023-04-012024-03-3111352152core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3111352152dpl:GroupUndertakings2023-04-012024-03-3111352152dpl:ParticipatingInterests2023-04-012024-03-3111352152dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3111352152core:ListedExchangeTraded2023-04-012024-03-3111352152dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3111352152core:UnlistedNon-exchangeTraded2023-04-012024-03-3111352152dpl:CostSales2021-12-012023-03-3111352152dpl:DistributionCosts2021-12-012023-03-3111352152core:LandBuildings2021-12-012023-03-3111352152core:PlantMachinery2021-12-012023-03-3111352152core:Vehicles2021-12-012023-03-3111352152core:FurnitureFittings2021-12-012023-03-3111352152core:OfficeEquipment2021-12-012023-03-3111352152dpl:AdministrativeExpenses2021-12-012023-03-3111352152core:NetGoodwill2021-12-012023-03-3111352152core:IntangibleAssetsOtherThanGoodwill2021-12-012023-03-3111352152dpl:GroupUndertakings2021-12-012023-03-3111352152dpl:ParticipatingInterests2021-12-012023-03-3111352152dpl:GroupUndertakingscore:ListedExchangeTraded2021-12-012023-03-3111352152core:ListedExchangeTraded2021-12-012023-03-3111352152dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-12-012023-03-3111352152core:UnlistedNon-exchangeTraded2021-12-012023-03-3111352152core:NetGoodwill2024-03-3111352152core:IntangibleAssetsOtherThanGoodwill2024-03-3111352152core:LandBuildings2024-03-3111352152core:PlantMachinery2024-03-3111352152core:Vehicles2024-03-3111352152core:FurnitureFittings2024-03-3111352152core:OfficeEquipment2024-03-3111352152core:AfterOneYear2024-03-3111352152core:WithinOneYear2024-03-3111352152core:ListedExchangeTraded2024-03-3111352152core:UnlistedNon-exchangeTraded2024-03-3111352152core:ShareCapital2024-03-3111352152core:SharePremium2024-03-3111352152core:RevaluationReserve2024-03-3111352152core:OtherReservesSubtotal2024-03-3111352152core:RetainedEarningsAccumulatedLosses2024-03-3111352152core:NetGoodwill2023-03-3111352152core:IntangibleAssetsOtherThanGoodwill2023-03-3111352152core:LandBuildings2023-03-3111352152core:PlantMachinery2023-03-3111352152core:Vehicles2023-03-3111352152core:FurnitureFittings2023-03-3111352152core:OfficeEquipment2023-03-3111352152core:AfterOneYear2023-03-3111352152core:WithinOneYear2023-03-3111352152core:ListedExchangeTraded2023-03-3111352152core:UnlistedNon-exchangeTraded2023-03-3111352152core:ShareCapital2023-03-3111352152core:SharePremium2023-03-3111352152core:RevaluationReserve2023-03-3111352152core:OtherReservesSubtotal2023-03-3111352152core:RetainedEarningsAccumulatedLosses2023-03-3111352152core:NetGoodwill2021-12-0111352152core:IntangibleAssetsOtherThanGoodwill2021-12-0111352152core:LandBuildings2021-12-0111352152core:PlantMachinery2021-12-0111352152core:Vehicles2021-12-0111352152core:FurnitureFittings2021-12-0111352152core:OfficeEquipment2021-12-0111352152core:AfterOneYear2021-12-0111352152core:WithinOneYear2021-12-0111352152core:ListedExchangeTraded2021-12-0111352152core:UnlistedNon-exchangeTraded2021-12-0111352152core:ShareCapital2021-12-0111352152core:SharePremium2021-12-0111352152core:RevaluationReserve2021-12-0111352152core:OtherReservesSubtotal2021-12-0111352152core:RetainedEarningsAccumulatedLosses2021-12-0111352152core:AfterOneYear2023-04-012024-03-3111352152core:WithinOneYear2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:CostValuation2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3111352152core:Non-currentFinancialInstrumentscore:CostValuation2024-03-3111352152core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-03-3111352152core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-03-3111352152core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-03-3111352152core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-03-3111352152core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-03-3111352152core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-03-3111352152core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-03-3111352152core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-03-3111352152core:Non-currentFinancialInstrumentscore:CostValuation2023-03-3111352152core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-3111352152core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-3111352152core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-3111352152core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3111352152core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-3111352152core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-3111352152core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-3111352152core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-3111352152bus:Director12023-04-012024-03-3111352152bus:Director22023-04-012024-03-31

Bayley & Swift Limited

Registered Number
11352152
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Bayley & Swift Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Mr A J Bayley
Mr J L B S Swift

Registered Address

2 Hobson Court
Penrith 40 Business
Penrith
CA11 9GQ

Registered Number

11352152 (England and Wales)
Bayley & Swift Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3123,23079,104
123,23079,104
Current assets
Debtors4805,9661,218,648
Cash at bank and on hand180,914157,821
986,8801,376,469
Creditors amounts falling due within one year5(754,555)(723,541)
Net current assets (liabilities)232,325652,928
Total assets less current liabilities355,555732,032
Creditors amounts falling due after one year6(13,537)(11,310)
Provisions for liabilities8(27,500)(19,700)
Net assets314,518701,022
Capital and reserves
Called up share capital200200
Profit and loss account314,318700,822
Shareholders' funds314,518701,022
The financial statements were approved and authorised for issue by the Board of Directors on 11 September 2024, and are signed on its behalf by:
Mr J L B S Swift
Director
Registered Company No. 11352152
Bayley & Swift Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 23180,760583181,343
Additions65,012-65,012
Disposals(24,000)-(24,000)
At 31 March 24221,772583222,355
Depreciation and impairment
At 01 April 23102,013226102,239
Charge for year13,19219413,386
On disposals(16,500)-(16,500)
At 31 March 2498,70542099,125
Net book value
At 31 March 24123,067163123,230
At 31 March 2378,74735779,104
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables582,481921,386
Other debtors-24,570
Prepayments and accrued income223,485272,692
Total805,9661,218,648
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables545,407507,823
Taxation and social security168,898199,419
Finance lease and HP contracts33,62610,742
Other creditors1,1041,256
Accrued liabilities and deferred income5,5204,301
Total754,555723,541
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. Finance lease and HP contracts are secured on the assets to which they relate.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors13,53711,310
Total13,53711,310
Finance lease and HP contracts are included in other creditors. HP contracts after one year are secured against the assets to which they relate.
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts13,53711,310
8.Provisions for liabilities
The provision for deferred tax is made up of £27,500 in respect of accelerated capital allowances.

2024

2023

££
Net deferred tax liability (asset)27,50019,700
Total27,50019,700
9.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £3,865 (2023 - £5,504).
10.Related party transactions
During the year a director had a loan account with the company. At the balance sheet date the company owed the director £560 (2023 - £485). This loan is unsecured, interest free and repayable upon demand.