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COMPANY REGISTRATION NUMBER: 06248921
BARROON DESIGN LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
BARROON DESIGN LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
BARROON DESIGN LIMITED
BALANCE SHEET
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
1
50
Current assets
Debtors
5
6,750
10,750
Cash at bank and in hand
13,836
1,115
------------
------------
20,586
11,865
Creditors: amounts falling due within one year
6
( 14,362)
( 2,412)
------------
------------
Net current assets
6,224
9,453
------------
------------
Total assets less current liabilities
6,225
9,503
------------
------------
Net assets
6,225
9,503
------------
------------
Capital and reserves
Called up share capital
7
3
3
Profit and loss account
6,222
9,500
------------
------------
Shareholders funds
6,225
9,503
------------
------------
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.
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 May 2023 , and are signed on behalf of the board by:
Mr C J Holt
Director
Company registration number: 06248921
BARROON DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 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 35 Westgate, Huddersfiled, West Yorkshire, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Computer equipment
-
33% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Computer equipment
£
Cost
At 1 April 2022 and 31 March 2023
563
------------
Depreciation
At 1 April 2022
513
Charge for the year
49
------------
At 31 March 2023
562
------------
Carrying amount
At 31 March 2023
1
------------
At 31 March 2022
50
------------
5. Debtors
2023
2022
£
£
Other debtors
6,750
10,750
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
300
Corporation tax
601
312
Director loan accounts
13,461
2,100
------------
------------
14,362
2,412
------------
------------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
------------
------------
------------
------------
8. Related party transactions
The directors' loan of £13,461 (2022: £2,100) set out above is unsecured, repayable on demand and currently interest free. The company is controlled by the director. Included in debtors is a loan to a company controlled by the director in the amount of £6,750 (2022: £10,750). The loan is unsecured, interest free and repayable on demand.