Company registration number 05205904 (England and Wales)
BAYTOR (PROPERTY SERVICES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BAYTOR (PROPERTY SERVICES) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BAYTOR (PROPERTY SERVICES) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
4
227,327
253,295
Current assets
Stocks
5,950
11,400
Debtors
5
377,629
689,339
Cash at bank and in hand
167,972
103,403
551,551
804,142
Creditors: amounts falling due within one year
6
(230,016)
(559,178)
Net current assets
321,535
244,964
Total assets less current liabilities
548,862
498,259
Creditors: amounts falling due after more than one year
7
(15,453)
(22,951)
Provisions for liabilities
(50,872)
(55,111)
Net assets
482,537
420,197
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
481,537
419,197
Total equity
482,537
420,197
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
BAYTOR (PROPERTY SERVICES) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 July 2025 and are signed on its behalf by:
Mrs K J Luscombe
Director
Company Registration No. 05205904
BAYTOR (PROPERTY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Baytor (Property Services) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 8, King Charles Business Park, Old Newton Road, Heathfield, Newton Abbot, Devon, TQ12 6UT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT. The income is recognised as the work is completed, with contracts for services in place prior to the work commencing. Turnover is adjusted for accrued income "work in progress" each year to account for work done but not yet invoiced.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings - freehold
33% per annum on cost
Leasehold improvements
Straight line over the lease term
Plant and machinery
25% per annum on net book value
Fixtures, fittings & equipment
25% per annum on net book value
Motor vehicles
25% per annum on net book value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Equity instruments
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
BAYTOR (PROPERTY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
23
21
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
77,621
Amortisation and impairment
At 1 January 2024 and 31 December 2024
77,621
Carrying amount
At 31 December 2024
At 31 December 2023
BAYTOR (PROPERTY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
36,772
499,077
535,849
Additions
43,363
43,363
Disposals
(3,851)
(3,851)
At 31 December 2024
36,772
538,589
575,361
Depreciation and impairment
At 1 January 2024
33,168
249,386
282,554
Depreciation charged in the year
3,163
65,483
68,646
Eliminated in respect of disposals
(3,166)
(3,166)
At 31 December 2024
36,331
311,703
348,034
Carrying amount
At 31 December 2024
441
226,886
227,327
At 31 December 2023
3,604
249,691
253,295
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
361,371
671,029
Other debtors
16,258
18,310
377,629
689,339
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
104,441
197,969
Taxation and social security
98,697
125,290
Other creditors
26,878
235,919
230,016
559,178
Included in other creditors is £7,498 (2023: £7,136) relating to a finance lease. The liability is secured upon the asset to which it relates.
BAYTOR (PROPERTY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
15,453
22,951
Included in other creditors is £15,453 (2023: £22,951) relating to a finance lease. The liability is secured upon the asset to which it relates.
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Within one year
27,875
10,833
Between two and five years
111,500
-
In over five years
13,938
-
Total lease commitments
153,313
10,833
9
Parent company
On 28 March 2025, the company became a 100% subsidiary of Baytor Holdings Limited, a company incorporated in England & Wales. The company registered office is 8 King Charles Business Park, Heathfield, Newton Abbot, Devon, TQ12 6UT.
10
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Two directors
2.25
-
171,999
1,043
(167,997)
5,045
-
171,999
1,043
(167,997)
5,045
The advances to the directors are unsecured and repayable on demand.
11
Prior period adjustment
It was discovered that a leased vehicle had been incorrectly classified as an operating lease instead of a finance lease in the year ended 31 December 2023. A prior year adjustment has therefore been entered to capitalise the vehicle and include the corresponding finance lease liability. The effect of the adjustments are shown below.
BAYTOR (PROPERTY SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Prior period adjustment
(Continued)
- 7 -
Reconciliation of changes in equity
31 December
2023
£
Adjustments to prior year
Profit and loss effects
(841)
Total adjustments
(841)
Equity as previously reported
421,038
Equity as adjusted
420,197
Reconciliation of changes in loss for the previous financial period
2023
£
Adjustments to prior year
Finance lease vehicle adjustments
(841)
Total adjustments
(841)
Loss as previously reported
(32,328)
Loss as adjusted
(33,169)