Bayliss Printing Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00969252 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 25 APRIL 2018 TO 30 APRIL 2019

FOR

BAYLISS PRINTING COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs I A Phillips

Mr J Bayliss

Mr. M Shaw

REGISTERED OFFICE:

Coach Close

Shireoaks Triangle

Worksop

Nottinghamshire

S81 8AP

REGISTERED NUMBER:

00969252 (England and Wales)

ACCOUNTANTS:

Anderson & Co

18 Diamond Avenue

Kirkby in Ashfield

Nottinghamshire

NG17 7GR

FIXED ASSETS

Intangible assets

4

1,170

-

Tangible assets

5

1,342,430

1,410,574

1,343,600

1,410,574

CURRENT ASSETS

Stocks

65,777

54,041

Debtors

6

708,349

613,112

Cash at bank and in hand

66,182

66,034

840,308

733,187

CREDITORS

Amounts falling due within one year

7

1,320,908

1,152,941

NET CURRENT LIABILITIES

(480,600

)

(419,754

)

TOTAL ASSETS LESS CURRENT LIABILITIES

863,000

990,820

CREDITORS

Amounts falling due after more than one year

8

(580,345

)

(804,245

)

PROVISIONS FOR LIABILITIES

(101,699

)

(74,223

)

NET ASSETS

180,956

112,352

CAPITAL AND RESERVES

Called up share capital

130

130

Fair value reserve

10

65,315

65,315

Retained earnings

115,511

46,907

SHAREHOLDERS' FUNDS

180,956

112,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2019 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 applicable to companies subject to the small companies regime.

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 8 October 2019 and were signed on its behalf by:

Mr. M Shaw - Director

Mr J Bayliss - Director

Mrs I A Phillips - Director

1.	STATUTORY INFORMATION

Bayliss Printing Company 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of four years.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

No depreciation is provided on Freehold Land and Buildings which is included in the accounts at fair valuation.

Depreciation is provided on other fixed assets at rates calculated to write off the cost of those assets over their

expected useful life as follows:

Plant and Equipment

10-20%

reducing balance basis

Motor Vehicles

25%

reducing balance basis

Fixtures and Fittings

15%

reducing balance basis

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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 period 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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 29 (2018 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 25 April 2018

40,000

-

40,000

Additions

-

1,755

1,755

At 30 April 2019

40,000

1,755

41,755

AMORTISATION

At 25 April 2018

40,000

-

40,000

Charge for period

-

585

585

At 30 April 2019

40,000

585

40,585

NET BOOK VALUE

At 30 April 2019

-

1,170

1,170

At 24 April 2018

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 25 April 2018

420,000

1,919,241

35,135

Additions

-

20,043

7,786

Disposals

-

(101,483

)

(13,641

)

At 30 April 2019

420,000

1,837,801

29,280

DEPRECIATION

At 25 April 2018

-

950,861

21,941

Charge for period

-

93,933

940

Eliminated on disposal

-

(96,683

)

(13,641

)

At 30 April 2019

-

948,111

9,240

NET BOOK VALUE

At 30 April 2019

420,000

889,690

20,040

At 24 April 2018

420,000

968,380

13,194

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 25 April 2018

33,265

-

2,407,641

Additions

-

6,119

33,948

Disposals

(18,695

)

-

(133,819

)

At 30 April 2019

14,570

6,119

2,307,770

DEPRECIATION

At 25 April 2018

24,265

-

997,067

Charge for period

1,800

619

97,292

Eliminated on disposal

(18,695

)

-

(129,019

)

At 30 April 2019

7,370

619

965,340

NET BOOK VALUE

At 30 April 2019

7,200

5,500

1,342,430

At 24 April 2018

9,000

-

1,410,574

Cost or valuation at 30 April 2019 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Valuation in 2017

65,315

-

-

Cost

354,685

1,837,801

29,280

420,000

1,837,801

29,280

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2017

-

-

65,315

Cost

14,570

6,119

2,242,455

14,570

6,119

2,307,770

The net book value of tangible fixed assets includes £ 713,750 (2018 - £ 794,450 ) in respect of assets held under

hire purchase contracts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

24.4.18

£

£

Trade debtors

702,144

596,326

Sundry debtors and prepayments

6,205

7,049

VAT

-

9,737

708,349

613,112

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

24.4.18

£

£

Bank loans and overdrafts

33,679

32,251

Hire purchase contracts

164,833

151,634

Trade creditors

560,725

393,226

VAT

1,443

-

Credit card account

-

1,760

Factored debt advances

452,777

471,664

PAYE and national insurance

11,822

12,787

Accruals and sundry creditors

45,571

32,537

Directors' loan accounts

50,058

57,082

1,320,908

1,152,941

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

24.4.18

£

£

Bank loans - 1-2 years

35,411

33,908

Bank loans - 2-5 years

108,853

93,032

Bank loans more 5 yr by instal

11,697

62,827

Hire purchase contracts

342,575

507,408

Other creditors

81,809

107,070

580,345

804,245

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

11,697

62,827

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.19

24.4.18

£

£

Bank loans

189,640

222,018

Hire purchase contracts

507,408

659,042

697,048

881,060

10.

RESERVES

Fair

value

reserve

£

At 25 April 2018

and 30 April 2019

65,315