Baytouch Limited - Period Ending 2015-07-31

Registration number: 03229808

Baytouch Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

Baytouch Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Baytouch Limited
for the Year Ended 31 July 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Baytouch Limited for the year ended 31 July 2014 set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Baytouch Limited . Our work has been undertaken solely to prepare for your approval the accounts of Baytouch Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Baytouch Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Baytouch Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Baytouch Limited. You consider that Baytouch Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Baytouch Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

9 January 2015

Page 1

Baytouch Limited
(Registration number: 03229808)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					45,083			42,966
Tangible fixed assets					772			1,361
					45,855			44,327
Current assets
Debtors					49,095			44,603
Cash at bank and in hand					3,556			78
					52,651			44,681
Creditors: Amounts falling due within one year					(20,601)			(23,210)
Net current assets					32,050			21,471
Total assets less current liabilities					77,905			65,798
Creditors: Amounts falling due after more than one year					(26,463)			(31,133)
Net assets					51,442			34,665
Capital and reserves
Called up share capital		4			2			2
Share premium account					9,998			9,998
Profit and loss account					41,442			24,665
Shareholders' funds					51,442			34,665

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Baytouch Limited
(Registration number: 03229808)
Abbreviated Balance Sheet at 31 July 2014
......... continued

For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 9 January 2015

.........................................
Mr M Pollard
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Baytouch Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Research & Development	33.33% Straight Line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computer Equipment	Reducing balance 25%
Plant and machinery	Reducing balance 50%

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 4

Baytouch Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2013		189,583			4,849			194,432
Additions		44,733			-			44,733
At 31 July 2014		234,316			4,849			239,165
Depreciation
At 1 August 2013		146,617			3,488			150,105
Charge for the year		42,616			589			43,205
At 31 July 2014		189,233			4,077			193,310
Net book value
At 31 July 2014		45,083			772			45,855
At 31 July 2013		42,966			1,361			44,327

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		4,670			4,670
Amounts falling due after more than one year		26,463			31,133
Total secured creditors		31,133			35,803

Page 5

Baytouch Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 6