Bayberry College Limited - Period Ending 2023-02-28
Bayberry College Limited - Period Ending 2023-02-28
Registration number:
Bayberry College Limited
for the
Year Ended 28 February 2023
Bayberry College Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Bayberry College Limited
Company Information
Directors |
A Blount Mrs VYA Blount Mrs AP Cooper |
Registered office |
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Accountants |
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Bayberry College Limited
(Registration number: 08512580)
Balance Sheet as at 28 February 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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- |
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Current assets |
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Debtors |
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- |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
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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
Bayberry College Limited
(Registration number: 08512580)
Balance Sheet as at 28 February 2023
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Bayberry College Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The principal place of business is:
Glebe Farm
Small Lane
Earlswood
West Midlands
B94 5EL
United Kingdom
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.
The presentation currency of the financial statements is Pound Sterling (£).
Bayberry College Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
2 |
Accounting policies (continued) |
Going concern
As at 28 February 2023, the company had net current liabilities of £63,255 (2022 - £59,142) and a net liabilities position of £62,588 (2022 - £59,142).
- Included in net current liabilities is an amount oustanding to the directors of £57,716 (2022 - £58,171). The directors have confirmed that they will not seek repayment of this loan until such time as the company has sufficient funds and profits to do so.
The directors have ensured that the company can remain trading for the foreseeable future and deem it appropriate to apply the going concern policy assuming that the company will remain trading in 12 months time.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
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.
Bayberry College Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
2 |
Accounting policies (continued) |
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 |
Plant and machinery |
25% reducing balance |
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Bayberry College Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Other property, plant and equipment |
Total |
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Cost or valuation |
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Additions |
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At 28 February 2023 |
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Depreciation |
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Charge for the year |
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At 28 February 2023 |
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Carrying amount |
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At 28 February 2023 |
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Bayberry College Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Debtors |
Current |
Note |
2023 |
2022 |
Amounts owed by related parties |
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- |
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Other debtors |
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- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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- |
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Trade creditors |
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Accruals and deferred income |
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- |
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Other creditors |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank overdrafts |
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- |
Bayberry College Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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100 |
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100 |