Company registration number 08814775 (England and Wales)
BAYNES STREET LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
BAYNES STREET LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
BAYNES STREET LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
1,317,599
1,305,559
Debtors
4,416
1,350
Cash at bank and in hand
6,807
2,068
1,328,822
1,308,977
Creditors: amounts falling due within one year
(1,321,317)
(1,301,472)
Net current assets
7,505
7,505
Capital and reserves
Called up share capital
3
100
100
Profit and loss reserves
7,405
7,405
Total equity
7,505
7,505

For the financial year ended 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 January 2025 and are signed on its behalf by:
Mr H F Stummel
Director
Company registration number 08814775 (England and Wales)
BAYNES STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Baynes Street Limited is a private company limited by shares incorporated in England and Wales. The registered office is Tin House, Smugglers Yard, London, United Kingdom, W12 8HU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.3
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
BAYNES STREET LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
3
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
4
Related party transactions

A L Dawson and H F Stummel

Directors and shareholders

 

During the year the directors loaned the company a further £20,080. At the year end the amount owed to the directors was £1,309,536 (2023: £1,289,456). The advance is unsecured and no terms of repayment or interest have been agreed. The directors have agreed not to withdraw this funding to the detriment of other unsecured creditors and to continue to provide sufficient working capital for the company to continue to operate as a going concern.

 

Henning Stummel Architects Ltd

A company owned and run by H F Stummel

 

In a previous period the company borrowed £11,230 from Henning Stummel Architects Ltd. No further advances or repayments were made during the period. At the year end the amount owed to Henning Stummel Architects Ltd was £11,230 (2023: £11,230) and is shown in other creditors. The advance is unsecured and no repayment terms or interest have been agreed although the loan is technically repayable on demand.

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