Bayar Hughes & Co Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04106059 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

BAYAR HUGHES & CO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr B Chakarto

Mr U Patel

SECRETARY:

REGISTERED OFFICE:

4 Green Lane Business Park

238 Green Lane

New Eltham

London

SE9 3TL

REGISTERED NUMBER:

04106059 (England and Wales)

ACCOUNTANTS:

Bayar Hughes & Co

Chartered Certified Accountants

4 Green Lane Business Park

238 Green lane

New Eltham

London

SE9 3TL

FIXED ASSETS

Intangible assets

3

317,693

317,693

Tangible assets

4

16,430

16,430

334,123

334,123

CURRENT ASSETS

Stocks

-

6,055

Debtors

5

357,277

357,277

Prepayments and accrued income

19,326

19,326

Cash at bank and in hand

168,257

168,257

544,860

550,915

CREDITORS

Amounts falling due within one year

6

276,306

276,306

NET CURRENT ASSETS

268,554

274,609

TOTAL ASSETS LESS CURRENT LIABILITIES

602,677

608,732

CREDITORS

Amounts falling due after more than one year

7

(14,000

)

(14,000

)

PROVISIONS FOR LIABILITIES

(3,130

)

(3,130

)

NET ASSETS

585,547

591,602

CAPITAL AND RESERVES

Called up share capital

210

210

Share premium

263,388

263,388

Retained earnings

321,949

328,004

SHAREHOLDERS' FUNDS

585,547

591,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 June 2018 and were signed on its behalf by:

Mr U Patel - Director

1.	STATUTORY INFORMATION

Bayar Hughes & Co 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and

trade discounts.

Goodwill

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of

its separable net assets. It is being written off in equal annual instalments over its estimated economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2016

and 30 September 2017

539,088

AMORTISATION

At 1 October 2016

and 30 September 2017

221,395

NET BOOK VALUE

At 30 September 2017

317,693

At 30 September 2016

317,693

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

and 30 September 2017

45,261

DEPRECIATION

At 1 October 2016

and 30 September 2017

28,831

NET BOOK VALUE

At 30 September 2017

16,430

At 30 September 2016

16,430

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

357,277

357,277

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

30,707

30,707

Taxation and social security

129,627

129,627

Other creditors

115,972

115,972

276,306

276,306

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

14,000

14,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company paid £22,800 to Mr B Chakarto and Mr U Patel in respect of the rental of the office

premises. Both Mr B Chakarto and Mr U Patel are directors of the company.(2016:£22,800)