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Company registration number: 01269436
Barnes Morton (Builders) Ltd
Unaudited filleted financial statements
30 September 2023
Barnes Morton (Builders) Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Barnes Morton (Builders) Ltd
Directors and other information
Director JH Barnes
Company number 01269436
Registered office 2 Nudger Green
Dobcross
Saddleworth
Oldham, Lancashire
OL3 5AW
Business address 2 Nudger Green
Dobcross
Saddleworth
Oldham, Lancashire
OL3 5AW
Accountants Alexander Bursk Limited
Parkgates, Bury New Road
Prestwich
Manchester
Lancashire
M25 0JW
Bankers National Westminster Bank Plc
10 Yorkshire Street
Oldham
Lancashire
OL1 1QT
Barnes Morton (Builders) Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Barnes Morton (Builders) Ltd
Year ended 30 September 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 September 2023 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Alexander Bursk Limited
Accountants
Parkgates, Bury New Road
Prestwich
Manchester
Lancashire
M25 0JW
23 October 2023
Barnes Morton (Builders) Ltd
Statement of financial position
30 September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 82,253 82,253
Investments 5 20,511 20,073
_______ _______
102,764 102,326
Current assets
Debtors 6 100 100
Cash at bank and in hand 24,664 19,720
_______ _______
24,764 19,820
Creditors: amounts falling due
within one year 7 ( 98,922) ( 97,795)
_______ _______
Net current liabilities ( 74,158) ( 77,975)
_______ _______
Total assets less current liabilities 28,606 24,351
_______ _______
Net assets 28,606 24,351
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 28,506 24,251
_______ _______
Shareholder funds 28,606 24,351
_______ _______
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 October 2023 , and are signed on behalf of the board by:
JH Barnes
Director
Company registration number: 01269436
Barnes Morton (Builders) Ltd
Statement of changes in equity
Year ended 30 September 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 October 2021 100 20,383 20,483
Profit for the year 3,868 3,868
_______ _______ _______
Total comprehensive income for the year - 3,868 3,868
_______ _______ _______
At 30 September 2022 and 1 October 2022 100 24,251 24,351
Profit for the year 4,255 4,255
_______ _______ _______
Total comprehensive income for the year - 4,255 4,255
_______ _______ _______
At 30 September 2023 100 28,506 28,606
_______ _______ _______
Barnes Morton (Builders) Ltd
Notes to the financial statements
Year ended 30 September 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 2 Nudger Green, Dobcross, Saddleworth, Oldham, Lancashire, OL3 5AW.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 - 15 % reducing balance
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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Freehold property Plant and machinery Total
£ £ £
Cost
At 1 October 2022 and 30 September 2023 82,253 4,580 86,833
_______ _______ _______
Depreciation
At 1 October 2022 and 30 September 2023 - 4,580 4,580
_______ _______ _______
Carrying amount
At 30 September 2023 82,253 - 82,253
_______ _______ _______
At 30 September 2022 82,253 - 82,253
_______ _______ _______
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 October 2022 20,074 20,074
Additions 437 437
_______ _______
At 30 September 2023 20,511 20,511
_______ _______
Impairment
At 1 October 2022 and 30 September 2023 - -
_______ _______
Carrying amount
At 30 September 2023 20,511 20,511
_______ _______
At 30 September 2022 20,074 20,074
_______ _______
The market value of the investments at the balance sheet date was £10,335.
6. Debtors
2023 2022
£ £
Trade debtors 100 100
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 949 886
Other creditors 97,973 96,909
_______ _______
98,922 97,795
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
JH Barnes ( 96,153) ( 1,064) ( 97,217)
_______ _______ _______
2022
Balance brought forward Amounts repaid Balance o/standing
£ £ £
JH Barnes ( 94,645) ( 1,508) ( 96,153)
_______ _______ _______
Interest of £1,000 (2022: £1,000) was charged on this loan during the year.
9. Controlling party
The company is controlled by Mr J H Barnes, the sole director and shareholder.