Byson Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08898548 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

BYSON LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P I Richards

REGISTERED OFFICE:

Units 11-12 Colliery Court

Colliery Lane

Exhall

Coventry

West Midlands

CV7 9NW

REGISTERED NUMBER:

08898548 (England and Wales)

BANKERS:

Barclays Bank PLC

Coventry 2

Leicestershire

LE87 2BB

FIXED ASSETS

Intangible assets

3

6,500

-

Tangible assets

4

28,416

22,661

34,916

22,661

CURRENT ASSETS

Stocks

221,379

196,479

Debtors

138,641

72,689

Cash at bank

14,676

42,313

374,696

311,481

CREDITORS

Amounts falling due within one year

227,814

178,173

NET CURRENT ASSETS

146,882

133,308

TOTAL ASSETS LESS CURRENT LIABILITIES

181,798

155,969

CREDITORS

Amounts falling due after more than one year

(30,333

)

(69,875

)

PROVISIONS FOR LIABILITIES

(3,232

)

-

NET ASSETS

148,233

86,094

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

118,233

56,094

SHAREHOLDERS' FUNDS

148,233

86,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 14 February 2023 and were signed by:

P I Richards - Director

1.	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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Short leasehold

-

20% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on 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 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 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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

3.	INTANGIBLE FIXED ASSETS

Totals

£

COST

Additions

6,500

At 30 November 2022

6,500

NET BOOK VALUE

At 30 November 2022

6,500

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2021

41,136

Additions

11,774

At 30 November 2022

52,910

DEPRECIATION

At 1 December 2021

18,475

Charge for year

6,019

At 30 November 2022

24,494

NET BOOK VALUE

At 30 November 2022

28,416

At 30 November 2021

22,661

5.	OPERATING LEASE COMMITMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

42,500

3,820

Between one and five years

340,000

-

382,500

3,820