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Company registration number: 08642742
Bara Consulting Ltd
Unaudited filleted financial statements
30 June 2023
Bara Consulting Ltd
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Bara Consulting Ltd
Directors and other information
Directors A D Pooley
R P H Willis (Resigned 18 August 2023)
A S Bamber
G White (Appointed 18 August 2023)
Company number 08642742
Registered office 17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Accountants The Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Bara Consulting Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Bara Consulting Ltd
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bara Consulting Ltd for the year ended 30 June 2023 which comprise the Balance sheet 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 Bara Consulting Ltd, 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 Bara Consulting Ltd and state those matters that we have agreed to state to the board of directors of Bara Consulting Ltd 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 Bara Consulting Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Bara Consulting Ltd 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 profit of Bara Consulting Ltd. You consider that Bara Consulting Ltd 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 Bara Consulting Ltd. 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.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
10 October 2023
Bara Consulting Ltd
Balance sheet
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 1,257 2,289
_______ _______
1,257 2,289
Current assets
Debtors 6 230,445 129,221
Cash at bank and in hand 125,842 21,301
_______ _______
356,287 150,522
Creditors: amounts falling due
within one year 7 ( 205,008) ( 108,487)
_______ _______
Net current assets 151,279 42,035
_______ _______
Total assets less current liabilities 152,536 44,324
_______ _______
Net assets 152,536 44,324
_______ _______
Capital and reserves
Called up share capital 95 95
Profit and loss account 152,441 44,229
_______ _______
Shareholders funds 152,536 44,324
_______ _______
For the year ending 30 June 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 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 10 October 2023 , and are signed on behalf of the board by:
A S Bamber
Director
Company registration number: 08642742
Bara Consulting Ltd
Notes to the financial statements
Year ended 30 June 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 17 Central Buildings, Market Place, Thirsk, North Yorkshire, YO7 1HD. The principal activity of the company is the provision of mine engineering consultancy services.
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 services rendered, net of discounts and Value Added Tax.Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated 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:
Fittings fixtures and equipment - 25 % straight line
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 at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 July 2022 and 30 June 2023 4,711 4,711
_______ _______
Depreciation
At 1 July 2022 2,422 2,422
Charge for the year 1,032 1,032
_______ _______
At 30 June 2023 3,454 3,454
_______ _______
Carrying amount
At 30 June 2023 1,257 1,257
_______ _______
At 30 June 2022 2,289 2,289
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 177,204 128,506
Other debtors 53,241 715
_______ _______
230,445 129,221
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 28,649 4,954
Other creditors 176,359 103,533
_______ _______
205,008 108,487
_______ _______