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Registered number: 00969252
Bayliss Printing Company Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 00969252
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 964,167 1,071,115
964,167 1,071,115
CURRENT ASSETS
Stocks 6 139,537 138,076
Debtors 7 1,075,758 929,552
Cash at bank and in hand 80,121 93,703
1,295,416 1,161,331
Creditors: Amounts Falling Due Within One Year 8 (1,452,602 ) (1,495,322 )
NET CURRENT ASSETS (LIABILITIES) (157,186 ) (333,991 )
TOTAL ASSETS LESS CURRENT LIABILITIES 806,981 737,124
Creditors: Amounts Falling Due After More Than One Year 9 (63,018 ) (121,547 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (219,133 ) (180,357 )
NET ASSETS 524,830 435,220
CAPITAL AND RESERVES
Called up share capital 11 130 130
Revaluation reserve 191,446 191,446
Profit and Loss Account 333,254 243,644
SHAREHOLDERS' FUNDS 524,830 435,220
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M A Shaw
Director
23 October 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bayliss Printing Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00969252 . The registered office is Suite 5, The Willows, Ransom Wood Business Park, Southwell Road West, Rainworth, Mansfield, Nottinghamshire, NG21 0HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of four years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to profit and loss account over its estimated economic life of three years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 37 (2023: 34)
37 34
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 May 2023 40,000 1,755 41,755
As at 30 April 2024 40,000 1,755 41,755
Amortisation
As at 1 May 2023 40,000 1,755 41,755
As at 30 April 2024 40,000 1,755 41,755
Net Book Value
As at 30 April 2024 - - -
As at 1 May 2023 - - -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 2,206,729 27,545 70,747 2,305,021
Additions 9,102 - 463 9,565
Disposals (5,500 ) - - (5,500 )
As at 30 April 2024 2,210,331 27,545 71,210 2,309,086
Depreciation
As at 1 May 2023 1,189,771 14,951 29,184 1,233,906
Provided during the period 102,111 3,148 6,304 111,563
Disposals (550 ) - - (550 )
As at 30 April 2024 1,291,332 18,099 35,488 1,344,919
Net Book Value
As at 30 April 2024 918,999 9,446 35,722 964,167
As at 1 May 2023 1,016,958 12,594 41,563 1,071,115
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 163,400 181,556
6. Stocks
2024 2023
£ £
Finished goods 139,537 138,076
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 917,815 924,268
Other debtors 157,743 5,084
1,075,558 929,352
Due after more than one year
Amounts recoverable on contracts 200 200
1,075,758 929,552
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 63,760 79,903
Trade creditors 661,733 655,074
Bank loans and overdrafts 17,818 17,818
Other creditors 647,780 655,983
Taxation and social security 61,511 86,544
1,452,602 1,495,322
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 45,200 74,803
Bank loans 17,818 35,636
Other creditors - 11,108
63,018 121,547
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 63,760 79,903
Later than one year and not later than five years 45,200 74,803
108,960 154,706
108,960 154,706
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 130 130
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