Company No:
Contents
Note | 30.04.2024 | 31.10.2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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5,280 | 9,452 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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113,018 | 244,485 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 43,084 | 135,137 | ||
Total assets less current liabilities | 48,364 | 144,589 | ||
Creditors: amounts falling due after more than one year |
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account | (
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Total shareholder's funds |
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Bayside Marine Limited (registered number:
Teresa Clare Louth
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
Bayside Marine Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom. The principal place of business is Furzeham Net Store, Higher Furzeham Road, Brixham, Devon, TQ5 8QP.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
These financial statements cover from 1 November 2022 to 30 April 2024 due to the reporting period being extended to reflect the company's plans to be wounded up. The previous financial statements cover from 1 November 2021 to 31 October 2022, therefore the comparatives are not entirely comparable.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
Leasehold improvements | not depreciated |
Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Office equipment |
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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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Period from 01.11.2022 to 30.04.2024 |
Year ended 31.10.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including the director |
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Leasehold improve- ments |
Plant and machinery | Vehicles | Fixtures and fittings | Office equipment | Total | ||||||
£ | £ | £ | £ | £ | £ | ||||||
Cost | |||||||||||
At 01 November 2022 |
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Additions |
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Disposals |
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At 30 April 2024 |
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Accumulated depreciation | |||||||||||
At 01 November 2022 |
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Charge for the financial period |
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Disposals |
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At 30 April 2024 |
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Net book value | |||||||||||
At 30 April 2024 |
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At 31 October 2022 |
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30.04.2024 | 31.10.2022 | ||
£ | £ | ||
Trade debtors |
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VAT recoverable |
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Other debtors |
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30.04.2024 | 31.10.2022 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Amounts owed to director |
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Accruals |
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Other taxation and social security |
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Other creditors |
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30.04.2024 | 31.10.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
30.04.2024 | 31.10.2022 | ||
£ | £ | ||
Amounts owed to directors | 63,326 | 25,842 |
The amounts owed to directors is interest free and is repayable on demand.