Bayleaf Properties Limited - Accounts to registrar (filleted) - small 18.2
Bayleaf Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MAY 2020 TO 31 MARCH 2021 |
| FOR |
| BAYLEAF PROPERTIES LIMITED |
| BAYLEAF PROPERTIES LIMITED (REGISTERED NUMBER: 08983658) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MAY 2020 TO 31 MARCH 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| BAYLEAF PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 MAY 2020 TO 31 MARCH 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Atlas Chambers |
| 33 West Street |
| Brighton |
| East Sussex |
| BN1 2RE |
| BAYLEAF PROPERTIES LIMITED (REGISTERED NUMBER: 08983658) |
| BALANCE SHEET |
| 31 MARCH 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| BAYLEAF PROPERTIES LIMITED (REGISTERED NUMBER: 08983658) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 MAY 2020 TO 31 MARCH 2021 |
| 1. | STATUTORY INFORMATION |
| Bayleaf Properties Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover represents the total value of rents receivable from the letting of investment property for the year. |
| Investment property |
| Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes purchase cost and directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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. |
| Going concern |
| The directors do not anticipate that the recent COVID-19 outbreak will affect the company's ability to continue for the foreseeable future and therefore continues to adopt the going concern basis in preparing its financial statements. |
| Financial instruments |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
| transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
| administrative expenses. |
| 3. | EMPLOYEES |
| The average number of employees during the period was NIL (2020 - NIL). |
| BAYLEAF PROPERTIES LIMITED (REGISTERED NUMBER: 08983658) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MAY 2020 TO 31 MARCH 2021 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 May 2020 |
| and 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 30 April 2020 |
| Fair value at 31 March 2021 is represented by: |
| £ |
| Valuation in 2016 | 54,100 |
| Valuation in 2017 | 83,802 |
| Valuation in 2018 | (2,929 | ) |
| Valuation in 2019 | (35,000 | ) |
| Valuation in 2020 | 35,000 |
| Cost | 200,027 |
| 335,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 200,027 | 200,027 |
| Investment property was valued on an open market basis on 31 March 2021 by the directors . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Tax |
| Other creditors |
| Directors' current accounts | 1,870 | 1,246 |
| Accruals and deferred income |
| Included within other creditors is £32,280 (2020: £34,790) due to companies under common control. These loans are interest free and repayable on demand. |
| BAYLEAF PROPERTIES LIMITED (REGISTERED NUMBER: 08983658) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 MAY 2020 TO 31 MARCH 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 150,000 | 150,000 |
| 8. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Deferred tax | 22,476 | 22,476 |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2020 |
| Revaluation of Property |
| Balance at 31 March 2021 |