REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2018 |
for |
Bar Code Data Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2018 |
for |
Bar Code Data Limited |
Bar Code Data Limited (Registered number: 02463305) |
Contents of the Financial Statements |
for the Year Ended 28 February 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 9 |
Bar Code Data Limited |
Company Information |
for the Year Ended 28 February 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bridge House |
12 Market Street |
Glossop |
Derbyshire |
SK13 8AR |
Bar Code Data Limited (Registered number: 02463305) |
Balance Sheet |
28 February 2018 |
28.2.18 | 28.2.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Bar Code Data Limited (Registered number: 02463305) |
Balance Sheet - continued |
28 February 2018 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors on |
P W Ralph - Director | I Fearns - Director |
R I Young - Director |
Bar Code Data Limited (Registered number: 02463305) |
Notes to the Financial Statements |
for the Year Ended 28 February 2018 |
1. | STATUTORY INFORMATION |
Bar Code Data Limited is a |
registered number and registered office address can be found on the Company Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The preparation of financial statements in accordance with FRS 102 requires the use of certain critical accounting |
estimates. It also requires management to exercise its judgement in the process of applying the company's |
accounting policies. |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. |
There are no judgements, apart from those involving estimates, that have had a significant effect on amounts |
recognised in the financial statements. There are no estimates or assumptions that are expected to have a |
significant impact upon the carrying value of the assets and liabilities within the next financial year. |
Turnover |
Turnover represents the invoiced value of goods sold/services provided net of value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
Bar Code Data Limited (Registered number: 02463305) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
3. | ACCOUNTING POLICIES - continued |
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 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 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance |
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date |
of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
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. |
Mr P Ralph, Mr I Fearns and Mr R I Young accrue pension benefits from the company. |
Bar Code Data Limited (Registered number: 02463305) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
3. | ACCOUNTING POLICIES - continued |
Going concern |
After reviewing the Company's forecasts and projections, the directors have a reasonable expectation that the |
Company has adequate resources to continue in operational existence for the foreseeable future. The Company |
therefore continues to adopt the going concern basis in preparing its financial statements. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially |
at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest |
method, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of |
not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months |
from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of |
change in value. |
Financial Instruments |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other |
accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently |
at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one |
year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of |
the cash or other consideration expected to be paid or received. However if thearrangements of a short term |
instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business |
terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market |
rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a |
market rate of interest for a similar debt instrument and subsequently at amortised cost. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in |
the Statement of comprehensive income. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an |
asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective |
interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is |
the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between |
an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would |
receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when |
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method. |
Bar Code Data Limited (Registered number: 02463305) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 March 2017 |
Additions |
At 28 February 2018 |
DEPRECIATION |
At 1 March 2017 |
Charge for year |
At 28 February 2018 |
NET BOOK VALUE |
At 28 February 2018 |
At 28 February 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Trade debtors |
Directors' current accounts |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT |
Directors' current accounts | - | 28,369 |
Accrued expenses |
Bar Code Data Limited (Registered number: 02463305) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2018 |
8. | PROVISIONS FOR LIABILITIES |
28.2.18 | 28.2.17 |
£ | £ |
Deferred tax | 25,587 | 29,398 |
Deferred |
tax |
£ |
Balance at 1 March 2017 |
Other timing differences | (3,811 | ) |
Balance at 28 February 2018 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 28 February 2018 and |
28 February 2017: |
28.2.18 | 28.2.17 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Bar Code Data Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a |
Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Directors' Report are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of Bar Code Data Limited for the year ended 28 February 2018 which comprise the Statement of Income and |
Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Bar Code Data Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bar Code Data Limited and state those matters that we have agreed to state to the Board of Directors of Bar Code Data Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bar Code Data Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Bar Code Data Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bar Code Data Limited. You consider that Bar Code Data Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Bar Code Data Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Bridge House |
12 Market Street |
Glossop |
Derbyshire |
SK13 8AR |