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BAYITH REST HOME LIMITED

Registered Number
04853544
(England and Wales)

Unaudited Financial Statements for the Year ended
14 June 2024

BAYITH REST HOME LIMITED
Company Information
for the year from 15 June 2023 to 14 June 2024

Directors

PARIKH, Amrish
PARIKH, Neha

Registered Address

18-20 Bevan Road
Lovedean
Waterlooville
PO8 9QH

Registered Number

04853544 (England and Wales)
BAYITH REST HOME LIMITED
Balance Sheet as at
14 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4413,624414,499
413,624414,499
Current assets
Stocks5200200
Debtors6273,356177,258
Cash at bank and on hand220,209105,979
493,765283,437
Creditors amounts falling due within one year7(111,914)(81,958)
Net current assets (liabilities)381,851201,479
Total assets less current liabilities795,475615,978
Net assets795,475615,978
Capital and reserves
Called up share capital11
Profit and loss account795,474615,977
Shareholders' funds795,475615,978
The financial statements were approved and authorised for issue by the Board of Directors on 14 March 2025, and are signed on its behalf by:
PARIKH, Amrish
Director
Registered Company No. 04853544
BAYITH REST HOME LIMITED
Notes to the Financial Statements
for the year ended 14 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Land & building 2% straight line Office Equipment 25% reducing balance No depreciation is charged on freehold land.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year2022
3.Intangible assets

Total

£
Cost or valuation
At 15 June 2310,000
At 14 June 2410,000
Amortisation and impairment
At 15 June 2310,000
At 14 June 2410,000
Net book value
At 14 June 24-
At 14 June 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 15 June 23508,867
Additions10,000
At 14 June 24518,867
Depreciation and impairment
At 15 June 2394,368
Charge for year10,875
At 14 June 24105,243
Net book value
At 14 June 24413,624
At 14 June 23414,499
The freehold property above includes the value of the land £98,944.
5.Stocks

2024

2023

££
Other stocks200200
Total200200
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-2,258
Amounts owed by group undertakings273,356-
Other debtors-175,000
Total273,356177,258
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables20,000-
Taxation and social security32,84832,648
Other creditors14,832-
Accrued liabilities and deferred income44,23449,310
Total111,91481,958
8.Creditors: amounts due after one year
9.Provisions for liabilities
10.Directors advances, credits and guarantees
Director's loan account balance at the year-end is £14,832, which relates to the director, Mr Amrish Parikh.
11.Related party transactions
Amounts owed by group understandings of £273,356 relates to Sure Healthcare Services Ltd.