Bayview Developments (South) Limited 03170580 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true false true 03170580 2023-10-01 2024-09-30 03170580 2024-09-30 03170580 core:CurrentFinancialInstruments 2024-09-30 03170580 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 03170580 core:FurnitureFittingsToolsEquipment 2024-09-30 03170580 core:MotorVehicles 2024-09-30 03170580 bus:SmallEntities 2023-10-01 2024-09-30 03170580 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 03170580 bus:FullAccounts 2023-10-01 2024-09-30 03170580 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 03170580 bus:RegisteredOffice 2023-10-01 2024-09-30 03170580 bus:Director1 2023-10-01 2024-09-30 03170580 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03170580 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 03170580 core:MotorVehicles 2023-10-01 2024-09-30 03170580 countries:England 2023-10-01 2024-09-30 03170580 2023-09-30 03170580 core:FurnitureFittingsToolsEquipment 2023-09-30 03170580 core:MotorVehicles 2023-09-30 03170580 2022-10-01 2023-09-30 03170580 2023-09-30 03170580 bus:Director1 1 2023-09-30 03170580 core:CurrentFinancialInstruments 2023-09-30 03170580 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 03170580 core:FurnitureFittingsToolsEquipment 2023-09-30 03170580 core:MotorVehicles 2023-09-30 03170580 bus:Director1 1 2022-10-01 2023-09-30 03170580 bus:Director1 1 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 03170580

Bayview Developments (South) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Bayview Developments (South) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Bayview Developments (South) Limited

Company Information

Director

Mr W L Buckler

Registered office

The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

Accountants

Wilkinsons Accountants Limited
Chartered Certified Accountants
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

 

Bayview Developments (South) Limited

(Registration number: 03170580)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,683

16,936

Investments

5

28,152

28,152

 

46,835

45,088

Current assets

 

Stocks

6

5,492,762

2,187,748

Debtors

7

8,424,176

7,191,606

Cash at bank and in hand

 

175,961

264,413

 

14,092,899

9,643,767

Creditors: Amounts falling due within one year

8

(6,427,836)

(2,074,080)

Net current assets

 

7,665,063

7,569,687

Total assets less current liabilities

 

7,711,898

7,614,775

Provisions for liabilities

(4,671)

(4,779)

Net assets

 

7,707,227

7,609,996

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

7,706,227

7,608,996

Shareholders' funds

 

7,707,227

7,609,996

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 June 2025
 

.........................................
Mr W L Buckler
Director

 

Bayview Developments (South) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Old Exchange
521 Wimborne Road East
Ferndown
Dorset
BH22 9NH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of land and property in the ordinary course of the Company’s activities. Turnover is recognised on the completion of contracts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Bayview Developments (South) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs other than finance related expenditure.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Bayview Developments (South) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 3).

4

Tangible assets

Furniture fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

34,002

18,688

52,690

Additions

5,089

-

5,089

At 30 September 2024

39,091

18,688

57,779

Depreciation

At 1 October 2023

18,471

17,284

35,755

Charge for the year

2,990

351

3,341

At 30 September 2024

21,461

17,635

39,096

Carrying amount

At 30 September 2024

17,630

1,053

18,683

At 30 September 2023

15,532

1,404

16,936

5

Investments

2024
£

2023
£

Investments in subsidiaries

28,152

28,152

 

Bayview Developments (South) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Investments (continued)

6

Stocks

2024
£

2023
£

Work in progress

5,492,762

2,187,748

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

-

32,789

Amounts owed by group undertakings

10

3,463,423

4,460,381

Prepayments

 

2,594

2,377

Other debtors

 

4,958,159

2,696,059

 

8,424,176

7,191,606

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

3,227,228

1,615,584

Trade creditors

 

111,000

182,301

Amounts owed to group undertakings

10

1,665

195,341

Taxation and social security

 

4,998

28,555

Accruals and deferred income

 

188,046

8,344

Other creditors

 

2,894,899

43,955

 

6,427,836

2,074,080


Bank and other borrowings are secured by charges over the individual land assets of the company, together with directors guarantees.

 

Bayview Developments (South) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

2,019,628

439,984

Other borrowings

1,207,600

1,175,600

3,227,228

1,615,584

10

Related party transactions

Transactions with the director

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mr W L Buckler

Loan - interest 2.25%, unsecured and repayable on demand

835,877

379,845

(1,215,722)

-