R C Barrett & Co Limited 03584562 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is the provision of accountancy and taxation services Digita Accounts Production Advanced 6.30.9574.0 true true 03584562 2022-02-01 2023-01-31 03584562 2023-01-31 03584562 bus:OrdinaryShareClass1 2023-01-31 03584562 core:RetainedEarningsAccumulatedLosses 2023-01-31 03584562 core:ShareCapital 2023-01-31 03584562 core:CurrentFinancialInstruments 2023-01-31 03584562 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 03584562 core:OtherPropertyPlantEquipment 2023-01-31 03584562 bus:SmallEntities 2022-02-01 2023-01-31 03584562 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 03584562 bus:FullAccounts 2022-02-01 2023-01-31 03584562 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 03584562 bus:RegisteredOffice 2022-02-01 2023-01-31 03584562 bus:Director1 2022-02-01 2023-01-31 03584562 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 03584562 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 03584562 core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 03584562 core:PlantMachinery 2022-02-01 2023-01-31 03584562 countries:EnglandWales 2022-02-01 2023-01-31 03584562 2022-01-31 03584562 core:OtherPropertyPlantEquipment 2022-01-31 03584562 2021-02-01 2022-01-31 03584562 2022-01-31 03584562 bus:OrdinaryShareClass1 2022-01-31 03584562 core:RetainedEarningsAccumulatedLosses 2022-01-31 03584562 core:ShareCapital 2022-01-31 03584562 core:CurrentFinancialInstruments 2022-01-31 03584562 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 03584562 core:OtherPropertyPlantEquipment 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03584562

R C Barrett & Co Limited

trading as Barrett & Co

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

R C Barrett & Co Limited

trading as Barrett & Co

(Registration number: 03584562)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,067

2,760

Current assets

 

Debtors

5

28,610

20,061

Cash at bank and in hand

 

58,045

35,005

 

86,655

55,066

Creditors: Amounts falling due within one year

6

(36,603)

(13,430)

Net current assets

 

50,052

41,636

Net assets

 

52,119

44,396

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

52,019

44,296

Shareholders' funds

 

52,119

44,396

For the financial year ending 31 January 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 of its accounts for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 Section 1A.

Approved and authorised by the director on 20 October 2023
 

.........................................
Mr S A Barrett
Director

   
 

R C Barrett & Co Limited

trading as Barrett & Co

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Tithe House, 15 Dukes Ride, Crowthorne, Berkshire, RG45 6LZ, United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts. The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax which is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straight line basis over 3 to 10 years

 

R C Barrett & Co Limited

trading as Barrett & Co

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. All shares are issued on a fully paid basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions. Contributions to defined contribution plans are recognised as an expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 3).

 

R C Barrett & Co Limited

trading as Barrett & Co

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

21,786

21,786

Additions

2,209

2,209

Disposals

(4,788)

(4,788)

At 31 January 2023

19,207

19,207

Depreciation

At 1 February 2022

19,026

19,026

Charge for the year

2,902

2,902

Eliminated on disposal

(4,788)

(4,788)

At 31 January 2023

17,140

17,140

Carrying amount

At 31 January 2023

2,067

2,067

At 31 January 2022

2,760

2,760

5

Debtors

Current

2023
£

2022
£

Trade debtors

27,400

18,851

Prepayments

1,210

1,210

 

28,610

20,061

 

R C Barrett & Co Limited

trading as Barrett & Co

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

16,000

-

Taxes and social security

19,684

12,530

Directors current accounts

-

155

Other creditors

919

745

36,603

13,430

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100