Bye Holdings Limited - Period Ending 2022-09-30

Bye Holdings Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

Bye Holdings Limited

(Registration number: 08199777)
Balance Sheet as at 30 September 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	336,020	766,020
Current assets
Debtors	5	937,822	698,882
Cash at bank and in hand		76,253	410
		1,014,075	699,292
Creditors: Amounts falling due within one year	6	(16,940)	(2,977)
Net current assets		997,135	696,315
Net assets		1,333,155	1,462,335
Capital and reserves
Called up share capital		1	1
Retained earnings		1,333,154	1,462,334
Shareholders' funds		1,333,155	1,462,335

For the financial year ending 30 September 2022 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 financial statements 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 June 2023 and signed on its behalf by:
 

......................................... C S Bye Director

Bye Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	NIL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Bye Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 1).

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 October 2021	760,000	2,362	3,658	766,020
Disposals	(430,000)	-	-	(430,000)
At 30 September 2022	330,000	2,362	3,658	336,020
Depreciation
Carrying amount
At 30 September 2022	330,000	2,362	3,658	336,020
At 30 September 2021	760,000	2,362	3,658	766,020

Included within the net book value of land and buildings above is £330,000 (2021 - £760,000) in respect of freehold land and buildings.
 

Bye Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

5

Debtors

	Note	2022 £	2021 £
Amounts owed by related parties	7	637,166	698,882
Other debtors		300,656	-
		937,822	698,882

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Taxation and social security	3,260	1,359
Other creditors	13,680	1,618
	16,940	2,977

7	Related party transactions

Other transactions with directors

During the year the directors had a loan with the company. As at the balance sheet date the amount owed to the director was £6,680 (2021: £1,618).

Summary of transactions with other related parties

Kempshott Car Sales Limited owed 100% by Bye Holdings Limited.

During the year £30,000 of rent was received from Kempshott Car Sales Limited. Payments made by Kempshott Car Sales Limited on behalf of Bye Holdings Limited were £6,298. At the balance sheet date the total due to Bye Holdings Limited was £637,166 (2021: £698,883).