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BAYERSOUND LIMITED
REGISTERED NUMBER: 02460503
ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2015
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 20 October 2015.
The notes on pages 2 to 3 form part of these abbreviated accounts.
- 1 -
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BAYERSOUND LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
1.Accounting Policies
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the company in respect of rents receivable during the year, exclusive of Value Added Tax.
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In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) investment properties are included in the financial statements at their open market value and are not depreciated. This is a departure from the Companies Act 2006 which requires all fixed assets, except land, to be depreciated. The surplus or deficit on the annual revaluation is transferred to a revaluation reserve, except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the financial statements.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
 
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2.Investment properties
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At 1 April 2014 and 31 March 2015
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- 2 -
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BAYERSOUND LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
3.Creditors:
Amounts falling due within one year
Includes secured creditors of £45,504 (2014: £44,239).
4.Creditors:
Amounts falling due after more than one year
Includes secured creditors of £232,630 (2014: £279,399).
Creditors include amounts not wholly repayable within 5 years as follows:
5.Share capital
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Allotted, called up and fully paid
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50 Ordinary 'A' shares of £1 each
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50 Ordinary 'B' shares of £1 each
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- 3 -
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