Registered number
03534469
Year end:
31 March 2024
BAYNTON ESTATES LIMITED
UNAUDITED FILLETED ACCOUNTS
FOR THE YEAR
ENDED 31 MARCH 2024
BAYNTON ESTATES LIMITED
Registered number: 03534469
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 3 1,630,407 1,563,092
Investments 4 3,062,623 2,856,683
4,693,030 4,419,775
CURRENT ASSETS
Debtors 5 747,664 6,527,868
Cash deposits 11 881
Cash at bank and in hand 5,880,591 500,938
6,628,266 7,029,687
CREDITORS: amounts falling due within one year 6 (69,295) (36,917)
NET CURRENT ASSETS 6,558,971 6,992,770
TOTAL ASSETS LESS CURRENT LIABILITIES 11,252,001 11,412,545
Provisions for liabilities (63,317) (36,154)
NET ASSETS £11,188,684 £11,376,391
CAPITAL AND RESERVES
Called up share capital 250,500 527,000
Share premium 5,088,281 5,088,281
Fair value reserve 7 568,976 448,326
Profit and loss account 5,280,927 5,312,784
SHAREHOLDERS' FUNDS £11,188,684 £11,376,391
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account is not delivered to Companies House.
Dr E A Fischl
Director
Approved by the board on 26 March 2025
BAYNTON ESTATES LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Income is recognised within turnover from rent receivable arising from rental agreements for the letting of investment property.
Tangible fixed assets
Investment property is valued by the director on an open market basis and the fair value is arrived at with reference to a regional house price index or to a subsequent sales value. Changes in valuation are included in the profit and loss account and deferred tax is provided in accordance with the Financial Reporting Standard. Non distributable reserves that arise from changes in valuation after related tax provisions are transferred to a fair value reserve. Tangible assets other than investment property are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment - 20% on a reducing balance basis
Antique furniture - 2% on a reducing balance basis
Investments
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. Non distributable reserves that arise from changes in valuation after related tax provisions are transferred to the fair value reserve.
Deferred Taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on a non-discounted basis at the tax rates which are expected to apply in the periods when the timing differences are expected to reverse.
Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction or by using averaged rates in approximation. 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 taken into account in arriving at the operating profit.
BAYNTON ESTATES LIMITED
Notes to the Accounts
for the year ended 31 March 2024
Leased rentals
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits as incurred. Rentals receivable under operating leases are credited to profits as they arise.
Pensions
Contributions to defined contribution plans are charged to the profit and loss account in the period in which they are paid.
2 EMPLOYEES 2024 2023
Number Number
Average number of persons employed by the company
(excluding directors with no specific service contract) 1 1
3 TANGIBLE FIXED ASSETS
Freehold Investment Property Fixtures, Fittings & Equipment Antique Furniture Total
£ £ £ £
Cost/Valuation
At 1 April 2023 1,394,000 34,474 263,816 1,692,290
Additions 64,207 - - 64,207
Surplus on revaluation 7,000 - - 7,000
At 31 March 2024 1,465,207 34,474 263,816 1,763,497
Depreciation
At 1 April 2023 - 31,636 97,562 129,198
Charge for the year - 567 3,325 3,892
At 31 March 2024 - 32,203 100,887 133,090
Net book value
At 31 March 2024 £ 1,465,207 £ 2,271 £ 162,929 £ 1,630,407
At 31 March 2023 £ 1,394,000 £ 2,838 £ 166,254 £ 1,563,092
2024 2023
Freehold land and buildings: £ £
Historical cost 859,476 795,269
£ 859,476 £ 795,269
BAYNTON ESTATES LIMITED
Notes to the Accounts
for the year ended 31 March 2024
4 INVESTMENTS
Listed and
other
investments
£
Fair value
At 1 April 2023 2,856,683
Additions 74,363
Fair value adjustments 145,650
Disposals (14,073)
At 31 March 2024 3,062,623
Historical cost
At 1 April 2023 2,956,088
At 31 March 2024 3,016,378
5 DEBTORS 2024 2023
£ £
Directors' loans 67,972 58,680
Other debtors 679,692 6,469,188
£ 747,664 £ 6,527,868
Amounts due after more than one year included above £ 19,147 £ 16,120
6 CREDITORS: amounts falling due within one year 2024 2023
£ £
Corporation tax 43,158 25,498
Other creditors 26,137 11,419
£ 69,295 £ 36,917
BAYNTON ESTATES LIMITED
Notes to the Accounts
for the year ended 31 March 2024
7 FAIR VALUE RESERVE 2024 2023
£ £
Brought forward 448,326 403,769
Transfers from/(to) profit and loss account 120,650 44,557
Carried forward £ 568,976 £ 448,326
Transfers from/(to) the profit and loss account arise from fair value adjustments after allowing for related deferred tax.
8 LOANS TO DIRECTORS
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Dr E A Fischl
Director's loan with interest charged at beneficial loan interest rates 58,680 9,292 - 67,972
Mr I K Terry
Director's loan with interest charged at beneficial loan interest rates - 75,000 (75,000) -
£ 58,680 £ 84,292 £ (75,000) £ 67,972
9 CONTROLLING PARTY
The company is controlled by Dr E A Fischl by virtue of her ownership of 75% of the ordinary shares in issue.
10 OTHER INFORMATION
Baynton Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Titsey Estate Office
Pilgrims Lane
Oxted
Surrey
RH8 0SE
The accounts are for the individual company and are presented in Sterling which is the functional currency of the company.
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