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Company registration number: 03684977
Barker Business Park Limited
Unaudited filleted financial statements
31 March 2022
THE BARKER PARTNERSHIP
Chartered Accountants and Statutory Auditors
Thirsk
Barker Business Park Limited
Contents
Directors and other information
Accountants report
Balance sheet
Statement of changes in equity
Notes to the financial statements
Barker Business Park Limited
Directors and other information
Directors Mr B W Barker (Resigned 9 April 2021)
Mrs H B Barker
Mrs S Scawthorn
Mr J R Chapman
Secretary Mrs S Scawthorn
Company number 03684977
Registered office BBP House, Keld Close
Barker Business Park
Melmerby, Ripon
North Yorkshire
HG4 5NB
Accountants Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Barker Business Park Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Barker Business Park Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Barker Business Park Limited for the year ended 31 March 2022 which comprise the Balance sheet, statement of changes in equity and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Barker Business Park Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Barker Business Park Limited and state those matters that we have agreed to state to the board of directors of Barker Business Park Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Barker Business Park Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Barker Business Park 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 loss of Barker Business Park Limited. You consider that Barker Business Park 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 Barker Business Park 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.
Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
2 August 2022
Barker Business Park Limited
Balance sheet
31 March 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 345,389 408,906
_______ _______
345,389 408,906
Current assets
Stocks 440,086 427,134
Debtors 6 1,074,196 983,429
Cash at bank and in hand 29,211 100,399
_______ _______
1,543,493 1,510,962
Creditors: amounts falling due
within one year 7 ( 1,153,357) ( 1,146,741)
_______ _______
Net current assets 390,136 364,221
_______ _______
Total assets less current liabilities 735,525 773,127
Creditors: amounts falling due
after more than one year 8 ( 39,999) -
Provisions for liabilities ( 64,690) ( 91,796)
_______ _______
Net assets 630,836 681,331
_______ _______
Capital and reserves
Called up share capital 200,000 200,000
Profit and loss account 430,836 481,331
_______ _______
Shareholders funds 630,836 681,331
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 August 2022 , and are signed on behalf of the board by:
Mrs S Scawthorn
Director
Company registration number: 03684977
Barker Business Park Limited
Statement of changes in equity
Year ended 31 March 2022
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2020 200,000 461,380 661,380
(Loss)/profit for the year 47,951 47,951
_______ _______ _______
Total comprehensive income for the year - 47,951 47,951
Dividends paid and payable ( 28,000) ( 28,000)
_______ _______ _______
Total investments by and distributions to owners - ( 28,000) ( 28,000)
_______ _______ _______
At 31 March 2021 and 1 April 2021 200,000 481,331 681,331
(Loss)/profit for the year ( 20,495) ( 20,495)
_______ _______ _______
Total comprehensive income for the year - ( 20,495) ( 20,495)
Dividends paid and payable ( 30,000) ( 30,000)
_______ _______ _______
Total investments by and distributions to owners - ( 30,000) ( 30,000)
_______ _______ _______
At 31 March 2022 200,000 430,836 630,836
_______ _______ _______
Barker Business Park Limited
Notes to the financial statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is BBP House, Keld Close, Barker Business Park, Melmerby, Ripon, North Yorkshire, HG4 5NB.The principal activities of the company in the year under review were those of developing and operating a business park.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2 % straight line
Plant and machinery - at variable rates on reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal ateach reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2021: 3 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 April 2021 577,504 45,414 4,159 - 627,077
Additions - 29,065 749 15,560 45,374
_______ _______ _______ _______ _______
At 31 March 2022 577,504 74,479 4,908 15,560 672,451
_______ _______ _______ _______ _______
Depreciation
At 1 April 2021 203,732 13,653 786 - 218,171
Charge for the year 86,585 17,523 1,219 3,564 108,891
_______ _______ _______ _______ _______
At 31 March 2022 290,317 31,176 2,005 3,564 327,062
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2022 287,187 43,303 2,903 11,996 345,389
_______ _______ _______ _______ _______
At 31 March 2021 373,772 31,761 3,373 - 408,906
_______ _______ _______ _______ _______
6. Debtors
2022 2021
£ £
Trade debtors 81,428 46,242
Amounts owed by group undertakings 990,366 860,000
Other debtors 2,402 77,187
_______ _______
1,074,196 983,429
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 10,000 -
Trade creditors 34,356 86,879
Amounts owed to group undertakings 1,062,550 900,150
Corporation tax - 31,377
Social security and other taxes 15,479 1,198
Other creditors 30,972 127,137
_______ _______
1,153,357 1,146,741
_______ _______
8. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts 39,999 -
_______ _______
9. Related party transactions
The company has provided the parent company with an interest free, unsecured loan with no fixed repayment terms. The balance outstanding at the year end and included in debtors is £860,000 (2021 - £860,000).The company has provided other group companies with interest free, unsecured loans with no fixed repayment terms. The balance outstanding at the year end and included in debtors is £130,366 (2021 - £nil).Other group companies have provided the company with interest free, unsecured loans with no fixed repayment terms. The balance outstanding at the year end and included in creditors is £1,062,550 (2021 - £900,150).The company had also provided a company under common control with an interest free, unsecured loan with no fixed repayment terms. During the year this loan was written off (2021 - creditor of £99,299).Some of the directors have provided the company with interest free, unsecured loans. The balance at the year end and included in short term creditors is £22,454 (2021 - £15,038).