Bayvest Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06026049 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2016

for

BAYVEST LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

J T Bayston

SECRETARY:

Mrs V R Bayston

REGISTERED OFFICE:

Welling Hill House

London Road

Charlton Kings

Cheltenham

Gloucestershire

GL52 6UT

REGISTERED NUMBER:

06026049 (England and Wales)

ACCOUNTANTS:

Davies Mayers Barnett LLP

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

FIXED ASSETS

Tangible assets

2

489,289

480,326

Investments

3

500,000

989,289

980,326

CURRENT ASSETS

Debtors

20,871

29,611

Cash at bank and in hand

181,126

164,869

201,997

194,480

CREDITORS

Amounts falling due within one year

(392,455

)

(16,349

)

NET CURRENT (LIABILITIES)/ASSETS

(190,458

)

178,131

TOTAL ASSETS LESS CURRENT
LIABILITIES

798,831

1,158,457

PROVISIONS FOR LIABILITIES

(1,371

)

(1,371

)

NET ASSETS

797,460

1,157,086

CAPITAL AND RESERVES

Called up share capital

4

10,000

200,000

Share premium

11,150

222,998

Profit and loss account

776,310

734,088

SHAREHOLDERS' FUNDS

797,460

1,157,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28th October 2016 and were signed by:

J T Bayston - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Bayvest Limited as an individual company and do not contain

consolidated financial information as the parent of a group. The company has taken the option under Section 398

of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents amounts receivable for sales of goods and services provided, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

Over 15/40 years

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% straight line

Cost is defined as the purchase cost less any residual value.

Depreciation is charged from the month of acquisition at the above rates.

The net book values of the assets are regularly reviewed by the directors and further adjustments to carrying

values are made where considered appropriate.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date. Full provision is made without discounting for all deferred tax liabilities. Deferred tax assets are

recognised to the extent that it is more likely than not that they will be recovered against taxable profits.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

583,027

Additions

30,416

At 31st March 2016

613,443

DEPRECIATION

At 1st April 2015

102,701

Charge for year

21,453

At 31st March 2016

124,154

NET BOOK VALUE

At 31st March 2016

489,289

At 31st March 2015

480,326

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st April 2015

and 31st March 2016

500,000

NET BOOK VALUE

At 31st March 2016

500,000

At 31st March 2015

500,000

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

TWB Finishing Limited

Nature of business: Supply of electro plating & electrophoresis paint.

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

804,771

812,188

Profit for the year

7,471

1,602

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

10,000

Ordinary

£1

10,000

200,000

The company carried out a reduction of capital on the 24 February 2016, reducing the share capital by £190,000

to £10,000 and the share premium account by £211,848 to £11,150.