15 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04353597 2023-03-01 2024-02-29 04353597 2024-02-29 04353597 2023-02-28 04353597 2022-03-01 2023-02-28 04353597 2023-02-28 04353597 2022-02-28 04353597 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04353597 core:FurnitureFittings 2023-03-01 2024-02-29 04353597 bus:Director1 2023-03-01 2024-02-29 04353597 core:LandBuildings 2023-02-28 04353597 core:FurnitureFittings 2023-02-28 04353597 core:LandBuildings 2024-02-29 04353597 core:FurnitureFittings 2024-02-29 04353597 core:LandBuildings 2023-03-01 2024-02-29 04353597 core:WithinOneYear 2024-02-29 04353597 core:WithinOneYear 2023-02-28 04353597 core:AfterOneYear 2024-02-29 04353597 core:AfterOneYear 2023-02-28 04353597 core:ShareCapital 2024-02-29 04353597 core:ShareCapital 2023-02-28 04353597 core:RetainedEarningsAccumulatedLosses 2024-02-29 04353597 core:RetainedEarningsAccumulatedLosses 2023-02-28 04353597 core:BetweenOneFiveYears 2024-02-29 04353597 core:BetweenOneFiveYears 2023-02-28 04353597 core:LandBuildings 2023-02-28 04353597 core:FurnitureFittings 2023-02-28 04353597 bus:SmallEntities 2023-03-01 2024-02-29 04353597 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04353597 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04353597 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04353597 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 04353597
BAYLEAF INVESTMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 February 2024
BAYLEAF INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
5
95,566
99,148
Current Assets
Stocks
908,235
857,520
Debtors
6
100,574
96,582
Cash at bank and in hand
28,436
77,010
--------------
--------------
1,037,245
1,031,112
Creditors: amounts falling due within one year
7
173,546
168,996
--------------
--------------
Net Current Assets
863,699
862,116
-----------
-----------
Total Assets Less Current Liabilities
959,265
961,264
Creditors: amounts falling due after more than one year
8
41,667
82,658
Provisions
Taxation including deferred tax
16,050
12,570
-----------
-----------
Net Assets
901,548
866,036
-----------
-----------
BAYLEAF INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
100
100
Profit and loss account
901,448
865,936
-----------
-----------
Shareholders Funds
901,548
866,036
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 November 2024 , and are signed on behalf of the board by:
P G Knowlson
Director
Company registration number: 04353597
BAYLEAF INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Halifax House, 30 George Street, Hull, East Yorkshire, HU1 3AJ.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover represents amounts receivable for the sale of new and second hand goods.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property Alterations
-
5% straight line
Fixtures and Equipment
-
15% reducing balance
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 15 (2023: 21 ).
5. Tangible Assets
Property Alterations
Fixtures and equipment
Total
£
£
£
Cost
At 1 March 2023
124,995
292,019
417,014
Additions
11,316
11,316
-----------
-----------
-----------
At 29 February 2024
124,995
303,335
428,330
-----------
-----------
-----------
Depreciation
At 1 March 2023
91,524
226,342
317,866
Charge for the year
3,992
10,906
14,898
-----------
-----------
-----------
At 29 February 2024
95,516
237,248
332,764
-----------
-----------
-----------
Carrying amount
At 29 February 2024
29,479
66,087
95,566
-----------
-----------
-----------
At 28 February 2023
33,471
65,677
99,148
-----------
-----------
-----------
6. Debtors
2024
2023
£
£
Trade debtors
14,006
6,173
Other debtors
86,568
90,409
-----------
---------
100,574
96,582
-----------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
55,931
68,333
Trade creditors
49,407
41,749
Social security and other taxes
52,904
47,243
Other creditors
15,304
11,671
-----------
-----------
173,546
168,996
-----------
-----------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
41,667
82,658
---------
---------
9. Operating Leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Later than 1 year and not later than 5 years
12,480
7,620
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--------