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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 11 JULY 2016 TO 31 OCTOBER 2017 |
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FOR |
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BAYAGAN GROUP LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 11 JULY 2016 TO 31 OCTOBER 2017 |
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FOR |
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BAYAGAN GROUP LTD |
BAYAGAN GROUP LTD (REGISTERED NUMBER: 10271296) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 11 JULY 2016 TO 31 OCTOBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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BAYAGAN GROUP LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 11 JULY 2016 TO 31 OCTOBER 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Old Casino |
28 Fourth Avenue |
Hove |
East Sussex |
BN3 2PJ |
BAYAGAN GROUP LTD (REGISTERED NUMBER: 10271296) |
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BALANCE SHEET |
31 OCTOBER 2017 |
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Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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BAYAGAN GROUP LTD (REGISTERED NUMBER: 10271296) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 11 JULY 2016 TO 31 OCTOBER 2017 |
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1. | STATUTORY INFORMATION |
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Bayagan Group Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are |
physically delivered to the customer. |
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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. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
BAYAGAN GROUP LTD (REGISTERED NUMBER: 10271296) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 11 JULY 2016 TO 31 OCTOBER 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Website |
development |
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COST |
Additions |
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At 31 October 2017 |
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AMORTISATION |
Amortisation for period |
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At 31 October 2017 |
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NET BOOK VALUE |
At 31 October 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
Additions |
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At 31 October 2017 |
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DEPRECIATION |
Charge for period |
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At 31 October 2017 |
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NET BOOK VALUE |
At 31 October 2017 |
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6. | STOCKS |
£ |
Stocks |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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BAYAGAN GROUP LTD (REGISTERED NUMBER: 10271296) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 11 JULY 2016 TO 31 OCTOBER 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
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Tax |
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VAT | 18,406 |
Other creditors |
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Directors' loan accounts | 10,803 |
Accrued expenses |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the period, Y Sekander & Mrs N Sekander made a loan to the company. As at 31 October 2017, the |
company owed them £10,803. This balance represented the maximum amount outstanding during the period and |
the loan is interest free and repayable on demand. |
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During the period, the company paid the directors rent amounting to £4,028 as a result of utilising office space |
within their home. |
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10. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Y Sekander. |
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This was by virtue of his 51% holding of the issued share capital. |