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Registration number: 03229808

Baytouch Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Baytouch Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Baytouch Limited

(Registration number: 03229808)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,466

9,642

Current assets

 

Debtors

6

23,103

26,873

Cash at bank and in hand

 

2,864

532

 

25,967

27,405

Creditors: Amounts falling due within one year

7

(13,075)

(13,023)

Net current assets

 

12,892

14,382

Total assets less current liabilities

 

21,358

24,024

Creditors: Amounts falling due after more than one year

7

(11,026)

(13,504)

Net assets

 

10,332

10,520

Capital and reserves

 

Called up share capital

2

2

Share premium reserve

9,998

9,998

Retained earnings

332

520

Shareholders' funds

 

10,332

10,520

 

Baytouch Limited

(Registration number: 03229808)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 December 2024
 

.........................................
LA King
Director

 

Baytouch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Ribble Court
1 Mead Way
Padiham
Burnley
Lancashire
BB12 7NG
England

These financial statements were authorised for issue by the director on 4 December 2024.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

 

Baytouch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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

Computer Equipment

25% reducing balance

Motor Vehicles

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development Costs

33% Straight Line

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 customers for merchandise sold or 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.

 

Baytouch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Baytouch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 August 2023

360,218

360,218

At 31 July 2024

360,218

360,218

Amortisation

At 1 August 2023

360,218

360,218

At 31 July 2024

360,218

360,218

Carrying amount

At 31 July 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

1,566

21,526

23,092

Additions

1,347

-

1,347

At 31 July 2024

2,913

21,526

24,439

Depreciation

At 1 August 2023

1,005

12,445

13,450

Charge for the year

252

2,271

2,523

At 31 July 2024

1,257

14,716

15,973

Carrying amount

At 31 July 2024

1,656

6,810

8,466

At 31 July 2023

561

9,081

9,642

 

Baytouch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

8,397

17,299

Other debtors

14,706

9,574

 

23,103

26,873

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

4,905

4,905

Trade creditors

 

5,928

5,925

Taxation and social security

 

742

693

Accruals and deferred income

 

1,500

1,500

 

13,075

13,023

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

11,026

13,504

 

Baytouch Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,026

13,504

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,905

4,905

9

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

LA King

Director loan repaid within 9 months

(9,219)

(34,211)

29,000

(14,430)

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

LA King

Director loan repaid within 9 months

(8,018)

(34,201)

33,000

(9,219)