Baylis Landscape Contractors Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03412494 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

BAYLIS LANDSCAPE CONTRACTORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A L Baylis

P R Baylis

SECRETARY:

P R Baylis

REGISTERED OFFICE:

Hartshill Nursery

Thong Lane

Shorne

Gravesend

Kent

DA12 4AD

REGISTERED NUMBER:

03412494 (England and Wales)

ACCOUNTANTS:

Williams Giles Professional Services Ltd

12 Conqueror Court

Sittingbourne

Kent

ME10 5BH

BANKERS:

Natwest Bank Plc

30 King Street

Gravesend

Kent

DA12 2DU

FIXED ASSETS

Tangible assets

4

14,389

17,350

Investments

5

25,726

33,513

40,115

50,863

CURRENT ASSETS

Stocks

-

2,000

Debtors

6

682,365

622,300

Cash at bank and in hand

7,158

191

689,523

624,491

CREDITORS

Amounts falling due within one year

7

333,578

329,037

NET CURRENT ASSETS

355,945

295,454

TOTAL ASSETS LESS CURRENT LIABILITIES

396,060

346,317

PROVISIONS FOR LIABILITIES

3,234

2,960

NET ASSETS

392,826

343,357

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

391,826

342,357

SHAREHOLDERS' FUNDS

392,826

343,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:

P R Baylis - Director

1.	STATUTORY INFORMATION

Baylis Landscape Contractors 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.

Preparation of consolidated financial statements

The financial statements contain information about Baylis Landscape Contractors Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover includes revenue earned from the rendering of commercial landscaping services.

Turnover from the rendering of landscaping services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investments in subsidiaries

Shares in Group undertakings are stated at cost less any provision for impairment.

The Company assesses investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. If any such indication of impairment exists, the Company makes an estimate of the recoverable amount. If the recoverable amount of the cash-generating unit is less than the fair value of the investment, the investment is recognised to be impaired and is written down to its recoverable amount. An impairment loss if recognised immediately in the income statement.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2022

47,519

9,762

19,389

76,670

Additions

-

-

3,166

3,166

Disposals

(4,496

)

-

-

(4,496

)

At 31 July 2023

43,023

9,762

22,555

75,340

DEPRECIATION

At 1 August 2022

40,705

9,677

8,938

59,320

Charge for year

1,606

21

3,961

5,588

Eliminated on disposal

(3,957

)

-

-

(3,957

)

At 31 July 2023

38,354

9,698

12,899

60,951

NET BOOK VALUE

At 31 July 2023

4,669

64

9,656

14,389

At 31 July 2022

6,814

85

10,451

17,350

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 August 2022

and 31 July 2023

75,870

PROVISIONS

At 1 August 2022

42,357

Impairments

7,787

At 31 July 2023

50,144

NET BOOK VALUE

At 31 July 2023

25,726

At 31 July 2022

33,513

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Sportsmark Group Limited

Registered office: Hartshill Nursery Thong Lane, Shorne, Gravesend, Kent, England, DA12 4AD

Nature of business: Interior and exterior marking specialists

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

513,095

516,460

Amounts owed by group undertakings

32,363

10,127

Other debtors

136,907

95,713

682,365

622,300

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

-

28,058

Trade creditors

124,806

131,285

Taxation and social security

138,303

93,041

Other creditors

70,469

76,653

333,578

329,037

8.	LEASING AGREEMENTS

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

2023

2022

£

£

Within one year

60,000

37,450

Between one and five years

240,000

149,800

In more than five years

108,000

104,860

408,000

292,110

9.	SECURED DEBTS

The National Westminster Bank PLC holds a mortgage charge over the companies freehold and leasehold properties.