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Registration number: 06809492

Bayberry Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Bayberry Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Bayberry Limited

Company Information

Directors

Mrs VYA Blount

Mr A Blount

Mrs AP Cooper

Registered office

34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF

 

Bayberry Limited

(Registration number: 06809492)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

76,456

95,515

Current assets

 

Debtors

5

53,641

133,083

Cash at bank and in hand

 

39,364

41,179

 

93,005

174,262

Creditors: Amounts falling due within one year

6

(1,218,157)

(1,170,896)

Net current liabilities

 

(1,125,152)

(996,634)

Total assets less current liabilities

 

(1,048,696)

(901,119)

Creditors: Amounts falling due after more than one year

6

(17,132)

(24,167)

Net liabilities

 

(1,065,828)

(925,286)

Capital and reserves

 

Called up share capital

9

125

125

Retained earnings

(1,065,953)

(925,411)

Shareholders' deficit

 

(1,065,828)

(925,286)

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Bayberry Limited

(Registration number: 06809492)
Balance Sheet as at 29 February 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

.........................................
Mrs AP Cooper
Director

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
34 Boulevard
Weston-super-Mare
North Somerset
BS23 1NF
United Kingdom

The principal place of business is:
Glebe Farm
Small Lane
Earlswood
West Midlands
B94 5EL
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2

Accounting policies (continued)

Going concern

As at 29 February 2024, the company had net current liabilities of £1,125,152 (2023: £996,634) and a net liabilities position of £1,065,828 (2023: £925,286).

Included in net current liabilities is an amount outstanding to the directors of £493,551 (2023: £504,092). The directors have confirmed that they will not seek repayment of this loan until such time as the company has sufficient funds and profits to do so.

The company has gone through a cost cutting exercise to identify any spend that can be reduced from the company's budget. Savings have been identified and are hoped to be achieved in the 2025 year.

The directors have ensured that the company can remain trading for the foreseeable future and deem it appropriate to apply the going concern policy assuming that the company will remain trading in 12 months time.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The company has received funding in the form of infection control grants were received from local authorities which are not required to be repaid.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

Straight line over term of lease

Fixtures and fittings

25% reducing balance

Computer equipment (included within fixtures and fittings)

25% on cost

Motor vehicle

25% reducing balance

Plant and machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from clients for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 30).

4

Tangible assets

Improvements to property
£

Fixtures and fittings
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 March 2023

21,993

270,295

15,061

68,408

375,757

Additions

-

11,209

-

213

11,422

At 29 February 2024

21,993

281,504

15,061

68,621

387,179

Depreciation

At 1 March 2023

21,993

207,563

10,783

39,903

280,242

Charge for the year

-

22,231

1,070

7,180

30,481

At 29 February 2024

21,993

229,794

11,853

47,083

310,723

Carrying amount

At 29 February 2024

-

51,710

3,208

21,538

76,456

At 28 February 2023

-

62,732

4,278

28,505

95,515

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

23,240

82,867

Prepayments

10,807

38,045

Other debtors

19,594

12,171

 

53,641

133,083

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

39,721

50,427

Trade creditors

 

13,493

18,085

Taxation and social security

 

473,379

468,887

Accruals and deferred income

 

103,695

71,746

Other creditors

 

587,869

561,751

 

1,218,157

1,170,896


Creditors include bank loans and overdrafts which are secured of £39,721 (2023: £50,427).

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

17,132

24,167


Creditors include a bank loan which is secured of £17,132 (2023: £24,167).

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Bank overdrafts

29,721

40,427

39,721

50,427

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

17,132

24,167

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

13,000

6,725

13,000

6,725

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary 'A' shares of £1 each

50

50

50

50

Ordinary 'B' shares of £1 each

50

50

50

50

Ordinary 'C' shares of £1 each

25

25

25

25

125

125

125

125

10

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mrs AP Cooper

Directors loan account

(3,638)

30,433

(19,531)

7,264

Mr A Blount

Directors loan account

(252,428)

4,943

-

(247,485)

Mrs VYA Blount

Directors loan account

(248,025)

1,960

-

(246,065)

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

10

Related party transactions (continued)

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mrs AP Cooper

Directors loan account

(4,154)

17,722

(17,206)

(3,638)

Mr A Blount

Directors loan account

(234,816)

6,388

(24,000)

(252,428)

Mrs VYA Blount

Directors loan account

(227,495)

3,470

(24,000)

(248,025)

 

Bayberry Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

10

Related party transactions (continued)

Summary of transactions with other related parties

Priority Health Limited:

A dormant company under common control of two of the directors. As at the balance sheet date, the company was owed £1,804 (2023: £1,804) from Priority Health Limited. This loan is considered interest free and repayable on demand. All transactions are made on an arms length basis.

Pathways Support & Community Association Limited:

A registered society under common control of two of the directors. As at the balance sheet date, the company was owed £367 (2023: £367) from Pathways Support & Community Association Limited. This loan is considered interest free and repayable on demand. All transactions are made on an arms length basis.

Limitless Unlimited Limited:

A company under common control of the directors. As at the balance sheet date, the company was owed £157 (2023: nil) from Limitless Unlimited Limited. This loan is considered interest free and repayable on demand. All transactions are made on an arms length basis.

Bayberry College Limited:

A company under common control of the directors. As at the balance sheet date, the company owed Bayberry College Limited £125 (2023: £1,132). This loan is considered interest free and repayable on demand. All transactions are made on an arms length basis.

Warley Engineering and Developments Limited:

A company under common control of two of the directors. As at the balance sheet date, the company owed Warley Engineering and Developments Limited £68,301 (2023: £35,000). This loan is considered interest free and repayable on demand. All transactions are made on an arms length basis.