Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01falseSea and coastal freight water transport11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00848813 2023-04-01 2024-03-31 00848813 2022-04-01 2023-03-31 00848813 2024-03-31 00848813 2023-03-31 00848813 c:Director1 2023-04-01 2024-03-31 00848813 d:PlantMachinery 2023-04-01 2024-03-31 00848813 d:PlantMachinery 2024-03-31 00848813 d:PlantMachinery 2023-03-31 00848813 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00848813 d:MotorVehicles 2023-04-01 2024-03-31 00848813 d:MotorVehicles 2024-03-31 00848813 d:MotorVehicles 2023-03-31 00848813 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00848813 d:FurnitureFittings 2023-04-01 2024-03-31 00848813 d:FurnitureFittings 2024-03-31 00848813 d:FurnitureFittings 2023-03-31 00848813 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00848813 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00848813 d:OtherPropertyPlantEquipment 2024-03-31 00848813 d:OtherPropertyPlantEquipment 2023-03-31 00848813 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00848813 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00848813 d:CurrentFinancialInstruments 2024-03-31 00848813 d:CurrentFinancialInstruments 2023-03-31 00848813 d:Non-currentFinancialInstruments 2024-03-31 00848813 d:Non-currentFinancialInstruments 2023-03-31 00848813 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00848813 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00848813 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00848813 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00848813 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 00848813 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 00848813 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 00848813 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 00848813 d:ShareCapital 2024-03-31 00848813 d:ShareCapital 2023-03-31 00848813 d:OtherMiscellaneousReserve 2024-03-31 00848813 d:OtherMiscellaneousReserve 2023-03-31 00848813 d:RetainedEarningsAccumulatedLosses 2024-03-31 00848813 d:RetainedEarningsAccumulatedLosses 2023-03-31 00848813 c:OrdinaryShareClass1 2023-04-01 2024-03-31 00848813 c:OrdinaryShareClass1 2024-03-31 00848813 c:OrdinaryShareClass1 2023-03-31 00848813 c:FRS102 2023-04-01 2024-03-31 00848813 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00848813 c:FullAccounts 2023-04-01 2024-03-31 00848813 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00848813 2 2023-04-01 2024-03-31 00848813 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00848813









L.BAIN & CO. LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
L.BAIN & CO. LIMITED
REGISTERED NUMBER: 00848813

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
391,486
360,685

Current assets
  

Debtors: amounts falling due within one year
 5 
163,841
192,976

Cash at bank and in hand
 6 
86,228
256,823

  
250,069
449,799

Creditors: amounts falling due within one year
 7 
(12,285)
(29,568)

Net current assets
  
 
 
237,784
 
 
420,231

Creditors: amounts falling due after more than one year
  
(23,809)
(32,004)

  

Net assets
  
605,461
748,912


Capital and reserves
  

Called up share capital 
 10 
100
100

Other reserves
  
730
730

Profit and loss account
  
604,631
748,082

  
605,461
748,912


Page 1

 
L.BAIN & CO. LIMITED
REGISTERED NUMBER: 00848813
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges the responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



A L Bain Esq
Director

Date: 26 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
L.BAIN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

L. Bain & Co. Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA. 
The principal activity of the company during the year has been that of dock and river piloting together with marine transportation and the hiring of motor boats.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
L.BAIN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:


Plant & machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
20%
reducing balance
Other fixed assets
-
6%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
L.BAIN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
L.BAIN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Boats
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
3,429
-
9,557
735,253
748,239


Additions
-
52,000
-
3,342
55,342


Disposals
(3,429)
-
(9,557)
-
(12,986)



At 31 March 2024

-
52,000
-
738,595
790,595



Depreciation


At 1 April 2023
3,420
-
8,914
375,220
387,554


Charge for the year on owned assets
2
2,167
270
21,722
24,161


Disposals
(3,422)
-
(9,184)
-
(12,606)



At 31 March 2024

-
2,167
-
396,942
399,109



Net book value



At 31 March 2024
-
49,833
-
341,653
391,486



At 31 March 2023
9
-
643
360,033
360,685

Page 6

 
L.BAIN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
159,655
188,395

Prepayments and accrued income
4,186
4,581

163,841
192,976



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
86,228
256,823

86,228
256,823



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,196
7,227

Corporation tax
-
18,777

Other creditors
64
64

Accruals and deferred income
4,025
3,500

12,285
29,568



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
23,809
32,004

23,809
32,004


Page 7

 
L.BAIN & CO. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
8,196
7,227

Amounts falling due 1-2 years

Bank loans
9,165
8,196

Amounts falling due 2-5 years

Bank loans
14,644
23,808


32,005
39,231



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



11.


Pension commitments

The company has paid into a defined contribution pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


12.


Transactions with directors

Included within other debtors due within one year are amounts owed by the director totalling £56,076 (2023: £68,282). The loan incurs interest at 2.25% and is repayable on demand.
 

 
Page 8