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BAYFIELD FINANCIAL SERVICES LIMITED
REGISTERED NUMBER: 06527653
ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2016
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 15 December 2016.
The notes on pages 2 to 3 form part of these financial statements.
Page 1
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BAYFIELD FINANCIAL SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises commissions received by the company in respect of services supplied during the year, exclusive of Value Added Tax.
Turnover is recognised at the point that clients purchase financial products.
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Intangible fixed assets and amortisation
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Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and Loss Account over its estimated economic life of 20 years
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Investments held as fixed assets are shown at cost less provision for impairment.
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2.INTANGIBLE FIXED ASSETS
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At 1 April 2015 and 31 March 2016
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Page 2
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BAYFIELD FINANCIAL SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
3.TANGIBLE FIXED ASSETS
4.FIXED ASSET INVESTMENTS
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At 1 April 2015 and 31 March 2016
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5.SHARE CAPITAL
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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Page 3
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