Registered number
SC404059
BARRY FIMISTER AUTOTINT LTD
Report and Accounts
31 March 2023
BARRY FIMISTER AUTOTINT LTD
Profit and Loss Account
for the year ended 31 March 2023
2023 2022
£ £
Turnover 59,630 57,560
Cost of sales (8,711) (7,036)
Gross profit 50,919 50,524
Administrative expenses (30,048) (25,825)
Other operating income 5,508 -
Operating profit 26,379 24,699
Profit on ordinary activities before taxation 26,379 24,699
Tax on profit on ordinary activities (5,318) (4,796)
Profit for the financial year 21,061 19,903
BARRY FIMISTER AUTOTINT LTD
Registered number: SC404059
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 27,960 27,960
Tangible assets 4 3,499 5,867
31,459 33,827
Current assets
Stocks 1,800 1,800
Debtors 5 10,822 1,839
Cash at bank and in hand 14,184 23,216
26,806 26,855
Creditors: amounts falling due within one year 6 (5,988) (5,466)
Net current assets 20,818 21,389
Net assets 52,277 55,216
Capital and reserves
Called up share capital 1 1
Profit and loss account 52,276 55,215
Shareholder's funds 52,277 55,216
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
BARRY FIMISTER
Director
Approved by the board on 9 October 2023
BARRY FIMISTER AUTOTINT LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 27,960
At 31 March 2023 27,960
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 27,960
At 31 March 2022 27,960
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 3,592 5,500 9,092
At 31 March 2023 3,592 5,500 9,092
Depreciation
At 1 April 2022 1,805 1,420 3,225
Charge for the year 1,552 816 2,368
At 31 March 2023 3,357 2,236 5,593
Net book value
At 31 March 2023 235 3,264 3,499
At 31 March 2022 1,787 4,080 5,867
5 Debtors 2023 2022
£ £
Other debtors 10,822 1,839
6 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 5,318 4,796
Other creditors 670 670
5,988 5,466
UNIT 14 KIRKCALDY ENTERPRISE CENTRE
MITCHELSTON INDUSTRIAL ESTATE
KIRKCALDY
FIFE
KY1 3NF
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