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REGISTERED NUMBER: 00596108 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

S.J. Barrick Limited

S.J. Barrick Limited (Registered number: 00596108)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S.J. Barrick Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: M Barrick
A R Sinden





SECRETARY: M Barrick





REGISTERED OFFICE: Soff Lane
South End
Goxhill
Lincolnshire
DN19 7ND





REGISTERED NUMBER: 00596108 (England and Wales)





ACCOUNTANTS: Harris Lacey and Swain
Chartered Accountants
Suite 1, The Riverside Building
Livingstone Road
Hessle,
Hull
HU13 0DZ

S.J. Barrick Limited (Registered number: 00596108)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,493,112 2,524,158

CURRENT ASSETS
Stocks 179,230 137,985
Debtors 5 1,594,398 1,358,843
Cash at bank and in hand 34,527 2,285
1,808,155 1,499,113
CREDITORS
Amounts falling due within one year 6 2,528,351 2,094,022
NET CURRENT LIABILITIES (720,196 ) (594,909 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,772,916

1,929,249

CREDITORS
Amounts falling due after more than one
year

7

(977,631

)

(1,035,932

)

PROVISIONS FOR LIABILITIES (234,500 ) (234,500 )
NET ASSETS 560,785 658,817

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 9 555,785 653,817
SHAREHOLDERS' FUNDS 560,785 658,817

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

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.

S.J. Barrick Limited (Registered number: 00596108)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2022 and were signed on its behalf by:





M Barrick - Director


S.J. Barrick Limited (Registered number: 00596108)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. STATUTORY INFORMATION

S.J. Barrick Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Estimation uncertainty on useful lives of depreciable assets
The carrying value of depreciable assets, £3,021,895 at 31 December 2019 (see note 6) requires the directors to make an estimate of the assets' useful economic lives and undertake an annual review for impairment. The estimated lives applied are detailed in the accounting policy note.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance & over 15 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


S.J. Barrick Limited (Registered number: 00596108)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Impairment of assets
At each reporting date non-financial assets, such as tangible fixed assets, are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared to the carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate but not in excess of the amount that would have been determined (net of depreciation and amortisation) had no impairment loss been recognised. A reversal of an impairment loss is recognised in the profit and loss account.

Financial instruments
Financial Instruments which meet the criteria of a basic financial instrument as defined by Section 11 of FRS102 are accounted for under the amortised historic cost model.

Non-basic financial instruments are recognised at fair value using a valuation technique with any gains or losses reported in surplus or deficit. At each year end, the instruments are revalued to fair value. with the movements posted to income and expenditure.

Factored debts
In accordance with FRS102 trade debtors factored with recourse have been included within debtors and the related funding included within creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2020 - 59 ) .

S.J. Barrick Limited (Registered number: 00596108)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2021 21,813 219,653 81,424 6,182,201 6,505,091
Additions - 3,026 3,069 586,998 593,093
Disposals - - - (501,522 ) (501,522 )
At 31 December 2021 21,813 222,679 84,493 6,267,677 6,596,662
DEPRECIATION
At 1 January 2021 6,538 192,221 66,918 3,715,256 3,980,933
Charge for year 540 4,568 2,637 551,904 559,649
Eliminated on disposal - - - (437,032 ) (437,032 )
At 31 December 2021 7,078 196,789 69,555 3,830,128 4,103,550
NET BOOK VALUE
At 31 December 2021 14,735 25,890 14,938 2,437,549 2,493,112
At 31 December 2020 15,275 27,432 14,506 2,466,945 2,524,158

Included in cost of land and buildings is freehold land of £ 11,774 (2020 - £ 11,774 ) which is not depreciated.

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2021
and 31 December 2021 3,091,535
DEPRECIATION
At 1 January 2021
and 31 December 2021 1,243,551
NET BOOK VALUE
At 31 December 2021 1,847,984
At 31 December 2020 1,847,984

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 1,197,970 1,001,785
Other debtors 396,428 357,058
1,594,398 1,358,843

S.J. Barrick Limited (Registered number: 00596108)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Finance leases 590,736 541,880
Trade creditors 490,658 369,032
Taxation and social security 242,212 309,974
Other creditors 1,204,745 873,136
2,528,351 2,094,022

The amount of £994,065 (2020:£603,750) in respect of factoring is secured on the book debts of the company.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Finance leases 977,631 1,035,932

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Finance leases 1,568,367 1,577,812
Invoice Finance Bank Account 994,065 603,750
2,562,432 2,181,562

The bank overdraft and invoice finance bank account are secured by a fixed charge over book debts a floating charge over other assets and personal guarantees by the two directors, M W Barrick and A R Sinden.

The Finance Leases are secured against the assets to which they relate.

9. RESERVES
Retained
earnings
£   

At 1 January 2021 653,817
Profit for the year 26,168
Dividends (124,200 )
At 31 December 2021 555,785

S.J. Barrick Limited (Registered number: 00596108)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
M Barrick
Balance outstanding at start of year (8,123 ) (20,428 )
Amounts advanced - 12,305
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (8,123 )

A R Sinden
Balance outstanding at start of year 11,929 11,929
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 11,929

An amount of £54,000 (2020: £54,000) of rent was paid to Soff Lane Properties Limited, a company owned by the directors and their spouses.

11. RELATED PARTY DISCLOSURES

A balance is owed from Goxhill Storage Co., a partnership between two shareholders and former directors of the company, the late L Barrick and A Barrick and the two current directors of the company, amounting to at £5,530 at 31 December 2021 (2020: £5,530)

A balance of £122,756 (2020: £111,052) is owed by Soff Lane Properties Limited a company owned by the company's directors and their spouses.

In addition, The Estate of L Barrick owed £32,019 to the company at 31 December 2021 (2020: £32,019) and A Barrick owed £82,674 to the company at 31 December 2021 (2020: £78,218).