Bay Properties Letting Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03176503

BAY PROPERTIES LETTING COMPANY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

5 April 2026

BAY PROPERTIES LETTING COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

5 April 2026

	2026		2025
Note	£	£	£

FIXED ASSETS

Tangible assets	6	12,476,085	12,621,675
Investments	7	3,649	2,422
		---------------	---------------
		12,479,734	12,624,097

CURRENT ASSETS

Debtors	8	2,766,443	3,431,843
Cash at bank and in hand		344,626	228,613
		--------------	--------------
		3,111,069	3,660,456

CREDITORS: amounts falling due within one year	9	1,203,222		1,512,342
		--------------		--------------
NET CURRENT ASSETS			1,907,847	2,148,114
			---------------	---------------
TOTAL ASSETS LESS CURRENT LIABILITIES			14,387,581	14,772,211

CREDITORS: amounts falling due after more than one year	10		–	741,130

PROVISIONS

Taxation including deferred tax	1,411,512	1,451,168
	---------------	---------------
NET ASSETS	12,976,069	12,579,913
	---------------	---------------

CAPITAL AND RESERVES

Called up share capital	1	1
Profit and loss account	12,976,068	12,579,912
	---------------	---------------
SHAREHOLDERS FUNDS	12,976,069	12,579,913
	---------------	---------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

BAY PROPERTIES LETTING COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

5 April 2026

For the year ending 5 April 2026 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 15 July 2026 , and are signed on behalf of the board by:

Mr B R Long
Director

Company registration number: 03176503

BAY PROPERTIES LETTING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 5 APRIL 2026

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 70 Buckingham Road, Morecambe, Lancashire, LA3 1BD.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents gross rental income receivable during the year

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures Fittings & Equipment	-	25% reducing balance
Motor Vehicles	-	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 5 (2025: 5 ).

5. INTANGIBLE ASSETS

	Goodwill
	£

Cost
At 6 April 2025 and 5 April 2026	10,000
	---------
Amortisation
At 6 April 2025 and 5 April 2026	10,000
	---------
Carrying amount
At 5 April 2026	–
	---------
At 5 April 2025	–
	---------

6. TANGIBLE ASSETS

Investment properties	Fixtures and fittings	Motor vehicles	Total
£	£	£	£

Cost
At 6 April 2025	12,599,316	98,501	64,348	12,762,165
Disposals	( 140,000)	–	–	( 140,000)
	---------------	---------	---------	---------------
At 5 April 2026	12,459,316	98,501	64,348	12,622,165
	---------------	---------	---------	---------------
Depreciation
At 6 April 2025	–	96,435	44,055	140,490
Charge for the year	–	517	5,073	5,590
	---------------	---------	---------	---------------
At 5 April 2026	–	96,952	49,128	146,080
	---------------	---------	---------	---------------
Carrying amount
At 5 April 2026	12,459,316	1,549	15,220	12,476,085
	---------------	---------	---------	---------------
At 5 April 2025	12,599,316	2,066	20,293	12,621,675
	---------------	---------	---------	---------------

7. INVESTMENTS

	Other investments other than loans
	£

Cost
At 6 April 2025 and 5 April 2026	60,730
	---------
Impairment
At 6 April 2025	58,308
Reversal of impairment losses	( 1,227)
	---------
At 5 April 2026	57,081
	---------

Carrying amount
At 5 April 2026	3,649
	---------
At 5 April 2025	2,422
	---------

8. DEBTORS

	2026	2025
	£	£

Trade debtors	2,695	4,872
Other debtors	2,763,748	3,426,971
	--------------	--------------
	2,766,443	3,431,843
	--------------	--------------

9. CREDITORS: amounts falling due within one year

	2026	2025
	£	£

Bank loans and overdrafts	14,758	200,000
Inter company account	1,022,445	1,023,025
Accruals and deferred income	17,121	19,956
Corporation tax	144,424	123,179
Social security and other taxes	1,324	1,517
Director loan accounts	3,150	82,619
Other creditors	–	62,046
	--------------	--------------
	1,203,222	1,512,342
	--------------	--------------

10. CREDITORS: amounts falling due after more than one year

	2026	2025
	£	£

Bank loans and overdrafts	–	741,130
	-----	-----------

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The Director had a loan account with the company which remained in credit throughout the year. The balance is included in creditors.

12. RELATED PARTY TRANSACTIONS

During the year the company had transactions with Gelmode Limited, a company which Mr B R Long is sole director. At the year end the company owed £1,022,445 to Gelmode Limited which is included in creditors.