10 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03703419 2022-03-01 2023-02-28 03703419 2023-02-28 03703419 2022-02-28 03703419 2021-03-01 2022-02-28 03703419 2022-02-28 03703419 core:PlantMachinery 2022-03-01 2023-02-28 03703419 core:FurnitureFittings 2022-03-01 2023-02-28 03703419 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 03703419 bus:Director1 2022-03-01 2023-02-28 03703419 core:WithinOneYear 2023-02-28 03703419 core:WithinOneYear 2022-02-28 03703419 core:PlantMachinery 2022-02-28 03703419 core:FurnitureFittings 2022-02-28 03703419 core:PlantMachinery 2023-02-28 03703419 core:FurnitureFittings 2023-02-28 03703419 core:ShareCapital 2023-02-28 03703419 core:ShareCapital 2022-02-28 03703419 core:CapitalRedemptionReserve 2023-02-28 03703419 core:CapitalRedemptionReserve 2022-02-28 03703419 core:RetainedEarningsAccumulatedLosses 2023-02-28 03703419 core:RetainedEarningsAccumulatedLosses 2022-02-28 03703419 core:BetweenOneFiveYears 2023-02-28 03703419 core:BetweenOneFiveYears 2022-02-28 03703419 core:AcceleratedTaxDepreciationDeferredTax 2023-02-28 03703419 core:AcceleratedTaxDepreciationDeferredTax 2022-02-28 03703419 core:TaxLossesCarry-forwardsDeferredTax 2023-02-28 03703419 core:PlantMachinery 2022-02-28 03703419 core:FurnitureFittings 2022-02-28 03703419 bus:SmallEntities 2022-03-01 2023-02-28 03703419 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 03703419 bus:FullAccounts 2022-03-01 2023-02-28 03703419 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 03703419 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 03703419 bus:OrdinaryShareClass1 2023-02-28 03703419 bus:OrdinaryShareClass1 2022-02-28
COMPANY REGISTRATION NUMBER: 03703419
SIMON BLYTH ESTATE AGENTS (BARNSLEY) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
SIMON BLYTH ESTATE AGENTS (BARNSLEY) LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 6
SIMON BLYTH ESTATE AGENTS (BARNSLEY) LIMITED
BALANCE SHEET
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
6,333
8,333
Current assets
Debtors
6
80,766
84,772
Cash at bank and in hand
82,308
65,224
------------
------------
163,074
149,996
Creditors: amounts falling due within one year
7
( 197,484)
( 170,033)
------------
------------
Net current liabilities
( 34,410)
( 20,037)
------------
------------
Total assets less current liabilities
( 28,077)
( 11,704)
Provisions
( 1,270)
------------
------------
Net liabilities
( 28,077)
( 12,974)
------------
------------
Capital and reserves
Called up share capital
9
50
50
Capital redemption reserve
50
50
Profit and loss account
( 28,177)
( 13,074)
------------
------------
Shareholders deficit
( 28,077)
( 12,974)
------------
------------
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.
For the year ending 28 February 2023 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 were approved by the board of directors and authorised for issue on 20 September 2023 , and are signed on behalf of the board by:
Mr S H Blyth
Director
Company registration number: 03703419
SIMON BLYTH ESTATE AGENTS (BARNSLEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fairfield House, Hollowgate, Holmfirth, West Yorkshire, HD9 2DG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 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:
Plant and machinery
-
10% reducing balance
Fixtures and fittings
-
25% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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 as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 11 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
2,527
73,786
76,313
------------
------------
------------
Depreciation
At 1 March 2022
2,011
65,969
67,980
Charge for the year
51
1,949
2,000
------------
------------
------------
At 28 February 2023
2,062
67,918
69,980
------------
------------
------------
Carrying amount
At 28 February 2023
465
5,868
6,333
------------
------------
------------
At 28 February 2022
516
7,817
8,333
------------
------------
------------
6. Debtors
2023
2022
£
£
Trade debtors
9,105
51,624
Deferred tax asset
2,189
Prepayments and accrued income
15,052
15,548
Corporation tax repayable
3,448
3,448
Other debtors
50,972
14,152
------------
------------
80,766
84,772
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
10,543
6,391
Accruals and deferred income
7,447
9,272
Social security and other taxes
4,127
3,469
Other creditors
175,367
150,901
------------
------------
197,484
170,033
------------
------------
8. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in debtors (note 6)
2,189
Included in provisions
( 1,270)
------------
------------
2,189
( 1,270)
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
( 887)
( 1,270)
Unused tax losses
3,076
------------
------------
2,189
(1,270)
------------
------------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
50
50
50
50
------------
------------
------------
------------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
26,370
31,220
Later than 1 year and not later than 5 years
20,250
46,620
------------
------------
46,620
77,840
------------
------------
11. Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,272 (2022 - £3,476). Contributions totalling £756 (2022 - £713) were payable to the fund at the balance sheet date and are included in creditors.
12. Related party transactions
S H Blyth (director) has provided personal security in support of the company's bank facilities. The following balances were due (to)/from the connected businesses and other related parties at the year end:
2023 2022
£ £
Simon Blyth Estate Agents (149,004) (142,184)
Simon Blyth Estate Agents (Huddersfield) Limited (2,957) (1,502)
13. Controlling party
The company is controlled by Mr S H Blyth (director).
14. Going concern
The directors have confirmed that they will procure adequate working capital to enable the company to continue trading until at least 30 November 2023. Consequently, the accounts have been prepared on a going concern basis.