Bayford New Horizons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07102171 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

Bayford New Horizons Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

P Barry

Mrs C Barry

REGISTERED OFFICE:

Unit E Blenheim House

1 Blenheim Road

Epsom

Surrey

KT19 9AP

REGISTERED NUMBER:

07102171 (England and Wales)

ACCOUNTANTS:

Rowdens Limited

Chartered Accountants

2 Dukes Court

Bognor Road

Chichester

West Sussex

PO19 8FX

FIXED ASSETS

Intangible assets

4

-

12,500

Tangible assets

5

13,732

2,174

Investments

6

158,836

158,836

172,568

173,510

CURRENT ASSETS

Stocks

2,500

2,500

Debtors

738,445

630,271

Cash at bank and in hand

195,968

318,343

936,913

951,114

CREDITORS

Amounts falling due within one year

566,743

716,733

NET CURRENT ASSETS

370,170

234,381

TOTAL ASSETS LESS CURRENT LIABILITIES

542,738

407,891

PROVISIONS FOR LIABILITIES

2,609

-

NET ASSETS

540,129

407,891

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

540,029

407,791

SHAREHOLDERS' FUNDS

540,129

407,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 20 January 2020 and were signed on its behalf by:

Mrs C Barry - Director

1.	STATUTORY INFORMATION

Bayford New Horizons Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Bayford New Horizons Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare

consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Franchise fee

The cost of the franchise fee is written off on a straight line basis over the term of the franchise

agreement.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, except to the extent that it relates to items recognised in other

comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 181 (2018 - 187 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2018

and 30 April 2019

217,513

AMORTISATION

At 1 May 2018

205,013

Amortisation for year

12,500

At 30 April 2019

217,513

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

12,500

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2018

42,128

Additions

14,519

At 30 April 2019

56,647

DEPRECIATION

At 1 May 2018

39,954

Charge for year

2,961

At 30 April 2019

42,915

NET BOOK VALUE

At 30 April 2019

13,732

At 30 April 2018

2,174

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 May 2018

and 30 April 2019

158,836

NET BOOK VALUE

At 30 April 2019

158,836

At 30 April 2018

158,836

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Surrey Care Services Limited

Registered office:

Nature of business: Provision of domiciliary care

%

Class of shares:

holding

Ordinary

100.00

7.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

-

901

The loans are secured by a debenture on the assets of the company.

8.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees, contingencies and commitments at the year end of £267,985

(2018: £144,210).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2019 and

30 April 2018:

2019

2018

£

£

Mrs C Barry

Balance outstanding at start of year

124,700

124,700

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

124,700

124,700

P Barry

Balance outstanding at start of year

124,999

124,999

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

124,999

124,999

Interest was charged on the loans at 2.5%.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Bayford New Horizons Limited for the year ended 30 April 2019 which comprise

the Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bayford New Horizons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bayford New Horizons Limited and state those matters that we have agreed to state to the Board of Directors of Bayford New Horizons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bayford New Horizons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bayford New Horizons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bayford New Horizons Limited. You consider that Bayford New Horizons 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 financial statements of Bayford New Horizons 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 financial statements.

Rowdens Limited

Chartered Accountants

2 Dukes Court

Bognor Road

Chichester

West Sussex

PO19 8FX

20 January 2020