Bayfield Capital Limited Filleted accounts for Companies House (small and micro)
Bayfield Capital Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
05935090
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Financial Statements |
Year ended 31 March 2023
Contents |
Page |
Officers and professional advisers |
1 |
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements |
2 |
Statement of financial position |
3 |
Notes to the financial statements |
5 |
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Officers and Professional Advisers |
The board of directors |
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Company secretary |
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Registered office |
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England |
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Accountants |
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Chartered accountants |
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4 Broadgate |
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Broadway Business Park |
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Chadderton |
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Oldham |
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OL9 9XA |
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 March 2023
4 Broadgate
Broadway Business Park
Chadderton
Oldham
OL9 9XA
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Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Fixed assets
Investments |
6 |
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Current assets
Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets/(liabilities) |
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(
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
9 |
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Provisions
Taxation including deferred tax |
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Net assets |
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Statement of Financial Position (continued) |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
10 |
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Profit and loss account |
11 |
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Shareholder funds |
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Directors' responsibilities:
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The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
24 April 2024
, and are signed on behalf of the board by:
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Director |
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Company registration number:
05935090
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Notes to the Financial Statements |
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Downs Court, The Downs, Altrincham, WA14 2QD, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Consolidation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Valuation of other investments as determined by the director. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible assets
Fixtures and fittings |
Total |
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£ |
£ |
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Cost |
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At 1 April 2022 and 31 March 2023 |
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Depreciation |
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At 1 April 2022 and 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
– |
– |
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At 31 March 2022 |
– |
– |
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6.
Investments
Shares in group undertakings |
Other investments other than loans |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2022 |
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Additions |
– |
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At 31 March 2023 |
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Impairment |
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At 1 April 2022 and 31 March 2023 |
– |
– |
– |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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The other investments are stated at market value as determined by the director.
Subsidiaries, associates and other investments
Registered office |
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Downs Court |
Ordinary |
100 |
29 The Downs |
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Altrincham |
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England WA14 2QD |
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The results and capital and reserves for the year are as follows:
Capital and reserves |
Profit/(loss) for the year |
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2023 |
2022 |
2023 |
2022 |
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£ |
£ |
£ |
£ |
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Subsidiary undertakings |
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(40,448) |
39,629 |
(
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38,209 |
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7.
Debtors
2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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8.
Creditors:
amounts falling due within one year
2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
(
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
– |
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Other creditors |
– |
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The bank loans and overdrafts are secured by a charge over the company's investment properties. Included in accruals is £0 (2022 £395,178). The accrual was for an expected cladding cost which is no longer required due to funding receivable from Homes England for remedial work.
9.
Creditors:
amounts falling due after more than one year
2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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The bank loans and overdrafts are secured by a charge over the company's investment properties.
10.
Called up share capital
Issued, called up and fully paid
2023 |
2022 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
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300 |
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300 |
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11.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Included in the profit and loss account reserves is an amount of £544,822 (2022: £544,822) which is non distributable.
12.
Directors' advances, credits and guarantees
Included within debtors is a directors current account balance of £50,062 (2022: creditor £192,807). This balance is unsecured, interest free and repayable on demand.
13.
Related party transactions
The parent company and its subsidiaries have taken advantage of exemption section 33 of FRS 102 from disclosing transactions with other members of the group. During the year the director was paid a dividend of £40,000 (2022: £100,000).