BAYCROFT TRADING LIMITED Small abbreviated accounts

BAYCROFT TRADING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 04208765

BAYCROFT TRADING LIMITED

ABBREVIATED ACCOUNTS

31 May 2016

BERNARD ATKINS LIMITED

Chartered Accountants

Eight Bells House

14 Church Street

Tetbury

Gloucestershire

GL8 8JG

BAYCROFT TRADING LIMITED

ABBREVIATED BALANCE SHEET

31 May 2016

	2016	2015
Note	£	£	£
FIXED ASSETS	2
Intangible assets		-	-
Tangible assets		1,660	7
		-------	----
		1,660	7
		-------	----

CURRENT ASSETS

Debtors	2,585		2,560
Cash at bank and in hand	9,690		5,964
	---------		-------
	12,275		8,524
CREDITORS: Amounts falling due within one year	13,610		8,148
	---------		-------
NET CURRENT (LIABILITIES)/ASSETS		( 1,335)	376
		-------	----
TOTAL ASSETS LESS CURRENT LIABILITIES		325	383

PROVISIONS FOR LIABILITIES	310	-
	----	----
	15	383
	----	----

CAPITAL AND RESERVES

Called up equity share capital	4		2	2
Profit and loss account		13	381
		----	----
SHAREHOLDERS' FUNDS		15	383
		----	----

For the year ended 31st May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 25 November 2016 , and are signed on their behalf by:

R L TOON

Company Registration Number: 04208765

BAYCROFT TRADING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31ST MAY 2016

1. ACCOUNTING POLICIES

Basis of accounting

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).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill-100%

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery-15% straight line per annum

Equipment-25% straight line per annum

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is 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 is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2. FIXED ASSETS

Intangible Assets	Tangible Assets	Total
£	£	£

COST

At 1st June 2015	3,785	2,610	6,395
Additions	–	1,992	1,992
	-------	-------	-------
At 31st May 2016	3,785	4,602	8,387
	-------	-------	-------

DEPRECIATION

At 1st June 2015	3,785	2,603	6,388
Charge for year	–	339	339
	-------	-------	-------
At 31st May 2016	3,785	2,942	6,727
	-------	-------	-------

NET BOOK VALUE

At 31st May 2016	–	1,660	1,660
	----	-------	-------

At 31st May 2015	–	7	7
	----	-------	-------

3. RELATED PARTY TRANSACTIONS

The company was under the control of Mr R L Toon and members of his immediate family throughout the current period . Mr Toon is the managing director and controlling shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRSSE.

4. SHARE CAPITAL

Authorised share capital:

	2016	2015
	£	£
1,000 Ordinary shares of £ 1 each	1,000	1,000
	-------	-------

4. SHARE CAPITAL (continued)

Allotted, called up and fully paid:

2016	2015
No	£	No	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----