Bayham Street Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09892209 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

BAYHAM STREET PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D A Altman

M Placks

SECRETARY:

M Placks

REGISTERED OFFICE:

869

High Road

London

N12 8QA

REGISTERED NUMBER:

09892209 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

CURRENT ASSETS

Stocks

3

1,860,677

1,353,240

Debtors

4

118,580

18,770

Cash at bank

35,935

109

2,015,192

1,372,119

CREDITORS

Amounts falling due within one year

5

2,022,541

1,375,262

NET CURRENT LIABILITIES

(7,349

)

(3,143

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,349

)

(3,143

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(7,549

)

(3,343

)

SHAREHOLDERS' FUNDS

(7,349

)

(3,143

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 August 2018 and were signed on its behalf by:

D A Altman - Director

M Placks - Director

1.	STATUTORY INFORMATION

Bayham Street Properties 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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the

company will have adequate resources to meet its liabilities to third parties as they fall due.

STOCKS

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

slow moving items.

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 statement of financial position date.

DEFERRED TAX

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

statement of financial position 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.

3.

STOCKS

2017

2016

£

£

Stocks

1,860,677

1,353,240

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

100

100

Amounts owed by related companies

118,480

18,670

118,580

18,770

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

760,001

715,000

Trade creditors

2,640

18,864

Amounts owed to group undertakings

1,249,742

640,048

Social security and other taxes

6,300

-

Directors' loan accounts

1,158

-

Accrued expenses

2,700

1,350

2,022,541

1,375,262

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

760,001

715,000

Bank loans are secured against company's stock.

7.	RELATED PARTY DISCLOSURES

Creditors due within one year include an interest free amount of £579 due to the director, Mr Michael Placks.

Creditors due within one year include an interest free amount of £579 due to the director, Mr David Altman.

Creditors due within one year include an interest free amount of £1,249,742 (2016: £640,048) due to Bucks

Estates Limited, which owns 50% share capital of the company.

Debtors due within one year include an interest free amount of £100 (2016: £100) due from Altman Placks

Properties Limited, which owns 50% share capital of the company.

Debtors due within one year include an interest free amount of £9,980 (2016: £18,670) due from Hale Court

Properties Limited, a company with common directors.

Debtors due within one year include an interest free amount of £45,500 (2016: £Nil) due from Hammers Lane

Properties Limited, a company with common directors.

Debtors due within one year include an interest free amount of £63,000 (2016: £Nil) due from Parade

Developments Limited, a company with common directors.

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.