Bayar Hughes & Co Limited - Accounts to registrar (filleted) - small 23.1.2

Bayar Hughes & Co Limited - Accounts to registrar (filleted) - small 23.1.2

BAYAR HUGHES & CO LIMITED - Company Information

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REGISTERED NUMBER: 04106059 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

BAYAR HUGHES & CO LIMITED
BAYAR HUGHES & CO LIMITED (REGISTERED NUMBER: 04106059)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BAYAR HUGHES & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2022







DIRECTORS: Mr B Chakarto
Mr U Patel





SECRETARY:





REGISTERED OFFICE: 4 Green Lane Business Park
238 Green Lane
New Eltham
London
SE9 3TL





REGISTERED NUMBER: 04106059 (England and Wales)





ACCOUNTANTS: Bayar Hughes & Co
Chartered Certified Accountants
4 Green Lane Business Park
238 Green lane
New Eltham
London
SE9 3TL
1
BAYAR HUGHES & CO LIMITED (REGISTERED NUMBER: 04106059)

BALANCE SHEET
30 SEPTEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 96,863 96,863
Tangible assets 5 4,020 4,020
100,883 100,883

CURRENT ASSETS
Stocks - 4,339
Debtors 6 468,362 468,362
Prepayments and accrued income 32,164 32,164
Cash at bank and in hand 367,509 367,509
868,035 872,374
CREDITORS
Amounts falling due within one year 7 291,689 291,689
NET CURRENT ASSETS 576,346 580,685
TOTAL ASSETS LESS CURRENT
LIABILITIES
677,229
681,568

CREDITORS
Amounts falling due after more than one
year
8
(40,833
)
(40,833
)

PROVISIONS FOR LIABILITIES (941 ) (941 )
NET ASSETS 635,455 639,794

CAPITAL AND RESERVES
Called up share capital 210 210
Share premium 263,388 263,388
Retained earnings 371,857 376,196
SHAREHOLDERS' FUNDS 635,455 639,794

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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 notes form part of these financial statements

2
BAYAR HUGHES & CO LIMITED (REGISTERED NUMBER: 04106059)

BALANCE SHEET - continued
30 SEPTEMBER 2022


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

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 and authorised for issue on 28 June 2023 and were signed on its behalf by:





Mr U Patel - Director


The notes form part of these financial statements

3
BAYAR HUGHES & CO LIMITED (REGISTERED NUMBER: 04106059)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. STATUTORY INFORMATION

Bayar Hughes & Co 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.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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 etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

4
BAYAR HUGHES & CO LIMITED (REGISTERED NUMBER: 04106059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2. ACCOUNTING POLICIES - continued

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 24 (2021 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2021
and 30 September 2022 552,937
AMORTISATION
At 1 October 2021
and 30 September 2022 456,074
NET BOOK VALUE
At 30 September 2022 96,863
At 30 September 2021 96,863

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2021
and 30 September 2022 46,636
DEPRECIATION
At 1 October 2021
and 30 September 2022 42,616
NET BOOK VALUE
At 30 September 2022 4,020
At 30 September 2021 4,020

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 468,312 468,312
Other debtors 50 50
468,362 468,362

5
BAYAR HUGHES & CO LIMITED (REGISTERED NUMBER: 04106059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 9,167 9,167
Trade creditors 31,140 31,140
Taxation and social security 191,796 191,796
Other creditors 59,586 59,586
291,689 291,689

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 40,833 40,833

6