Company Registration No. 07136132 (England and Wales)
Barkers Truck & Trailer Ltd
Unaudited accounts
for the year ended 31 August 2023
Barkers Truck & Trailer Ltd
Unaudited accounts
Contents
Barkers Truck & Trailer Ltd
Company Information
for the year ended 31 August 2023
Directors
S W Barker
K E Barker
Company Number
07136132 (England and Wales)
Registered Office
The Reefer trailer Centre
Whieldon Road
Stoke on Trent
Staffordshire
ST4 4HP
United Kingdom
Accountants
Tyler Cobane Limited
29 Walton Way
Walton
Stone
Staffordshire
ST15 0JF
Barkers Truck & Trailer Ltd
Statement of financial position
as at 31 August 2023
Tangible assets
257,627
147,352
Inventories
399,409
15,000
Cash at bank and in hand
457,690
561,319
Creditors: amounts falling due within one year
(798,804)
(712,124)
Net current assets
485,930
179,423
Total assets less current liabilities
743,557
326,775
Creditors: amounts falling due after more than one year
(147,619)
(133,949)
Provisions for liabilities
Deferred tax
(22,467)
(23,717)
Net assets
573,471
169,109
Called up share capital
100
100
Profit and loss account
573,371
169,009
Shareholders' funds
573,471
169,109
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
S W Barker
Director
Company Registration No. 07136132
Barkers Truck & Trailer Ltd
Notes to the Accounts
for the year ended 31 August 2023
Barkers Truck & Trailer Ltd is a private company, limited by shares, registered in England and Wales, registration number 07136132. The registered office is The Reefer trailer Centre, Whieldon Road, Stoke on Trent, Staffordshire, ST4 4HP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Barkers Truck & Trailer Ltd
Notes to the Accounts
for the year ended 31 August 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2022
4,970
152,106
978
1,439
159,493
Additions
8,024
227,931
-
760
236,715
Disposals
-
(71,400)
-
-
(71,400)
At 31 August 2023
12,994
308,637
978
2,199
324,808
At 1 September 2022
48
10,281
803
1,009
12,141
Charge for the year
1,488
68,241
44
142
69,915
On disposals
-
(14,875)
-
-
(14,875)
At 31 August 2023
1,536
63,647
847
1,151
67,181
At 31 August 2023
11,458
244,990
131
1,048
257,627
At 31 August 2022
4,922
141,825
175
430
147,352
Amounts falling due within one year
Trade debtors
291,565
133,964
Other debtors
136,070
181,264
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
41,287
21,175
Trade creditors
518,112
475,349
Taxes and social security
221,142
191,612
Other creditors
8,263
13,988
Barkers Truck & Trailer Ltd
Notes to the Accounts
for the year ended 31 August 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
130,119
106,449
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).