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Company Registration No. 00553164 (England and Wales)
Barnes Flooring Limited Unaudited accounts for the year ended 31 March 2023
Barnes Flooring Limited Unaudited accounts Contents
Page
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Barnes Flooring Limited Company Information for the year ended 31 March 2023
Directors
Sarah Scarth Alan V Barnes Elizabeth Barnes
Secretary
Alan V Barnes
Company Number
00553164 (England and Wales)
Registered Office
72 South Street Bishops Stortford Herts CM23 3AZ UK
Accountants
Redbox Accountancy Limited New Mead Barn Wickham Hall, Hadham Road Bishop's Stortford Hertfordshire CM23 1JG
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Barnes Flooring Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
684,332 
709,606 
Investment property
565,000 
565,000 
1,249,332 
1,274,606 
Current assets
Inventories
46,807 
71,568 
Debtors
128,593 
32,804 
Cash at bank and in hand
204,875 
181,650 
380,275 
286,022 
Creditors: amounts falling due within one year
(314,987)
(248,575)
Net current assets
65,288 
37,447 
Total assets less current liabilities
1,314,620 
1,312,053 
Provisions for liabilities
Deferred tax
(11,918)
(17,007)
Net assets
1,302,702 
1,295,046 
Capital and reserves
Called up share capital
1,000 
1,000 
Revaluation reserve
571,714 
571,714 
Profit and loss account
729,988 
722,332 
Shareholders' funds
1,302,702 
1,295,046 
For the year ending 31 March 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 19 October 2023 and were signed on its behalf by
Sarah Scarth Director Company Registration No. 00553164
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Barnes Flooring Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Barnes Flooring Limited is a private company, limited by shares, registered in England and Wales, registration number 00553164. The registered office is 72 South Street, Bishops Stortford, Herts, CM23 3AZ, UK.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Land & buildings
2% on cost of the building element
Plant & machinery
25% on cost, 20% on cost
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
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 taxation
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.
Pension costs
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.
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Barnes Flooring Limited Notes to the Accounts for the year ended 31 March 2023
Turnover
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.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
910,396 
10,525 
56,797 
63,278 
37,803 
1,078,799 
Additions
- 
- 
- 
- 
374 
374 
At 31 March 2023
910,396 
10,525 
56,797 
63,278 
38,177 
1,079,173 
Depreciation
At 1 April 2022
236,939 
10,525 
22,203 
63,155 
36,371 
369,193 
Charge for the year
15,908 
- 
8,649 
122 
969 
25,648 
At 31 March 2023
252,847 
10,525 
30,852 
63,277 
37,340 
394,841 
Net book value
At 31 March 2023
657,549 
- 
25,945 
1 
837 
684,332 
At 31 March 2022
673,457 
- 
34,594 
123 
1,432 
709,606 
5
Investment property
2023 
£ 
Fair value at 1 April 2022
565,000 
At 31 March 2023
565,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
127,793 
32,232 
Accrued income and prepayments
800 
572 
128,593 
32,804 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
5,353 
25,127 
Trade creditors
76,151 
71,008 
Taxes and social security
38,356 
27,100 
Other creditors
184,890 
116,803 
Loans from directors
7,777 
6,077 
Accruals
2,460 
2,460 
314,987 
248,575 
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Barnes Flooring Limited Notes to the Accounts for the year ended 31 March 2023
8
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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