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Company No: 06653786 (England and Wales)

BARTON SOLUTIONS (SW) LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

BARTON SOLUTIONS (SW) LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

BARTON SOLUTIONS (SW) LIMITED

BALANCE SHEET

As at 31 July 2023
BARTON SOLUTIONS (SW) LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 81,050 64,133
81,050 64,133
Current assets
Stocks 12,000 37,000
Debtors 5 209,390 417,607
Cash at bank and in hand 50,025 48,702
271,415 503,309
Creditors: amounts falling due within one year 6 ( 236,968) ( 506,496)
Net current assets/(liabilities) 34,447 (3,187)
Total assets less current liabilities 115,497 60,946
Creditors: amounts falling due after more than one year 7 ( 40,082) ( 59,692)
Provision for liabilities ( 6,299) ( 914)
Net assets 69,116 340
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 69,016 240
Total shareholders' funds 69,116 340

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Barton Solutions (SW) Limited (registered number: 06653786) were approved and authorised for issue by the Board of Directors on 21 November 2023. They were signed on its behalf by:

Mr J A Harvey
Director
BARTON SOLUTIONS (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
BARTON SOLUTIONS (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Barton Solutions (SW) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 6f South Hams Business Park, Churchstow, Kingsbridge, TQ7 3QH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 9

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2022 12,000 12,000
At 31 July 2023 12,000 12,000
Accumulated amortisation
At 01 August 2022 12,000 12,000
At 31 July 2023 12,000 12,000
Net book value
At 31 July 2023 0 0
At 31 July 2022 0 0

4. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 August 2022 141,212 32,122 173,334
Additions 39,000 3,308 42,308
At 31 July 2023 180,212 35,430 215,642
Accumulated depreciation
At 01 August 2022 87,734 21,467 109,201
Charge for the financial year 22,307 3,084 25,391
At 31 July 2023 110,041 24,551 134,592
Net book value
At 31 July 2023 70,171 10,879 81,050
At 31 July 2022 53,478 10,655 64,133

5. Debtors

2023 2022
£ £
Trade debtors 58,347 220,960
Other debtors 151,043 196,647
209,390 417,607

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,944 9,675
Trade creditors 3,106 33,422
Taxation and social security 40,636 24,509
Obligations under finance leases and hire purchase contracts 10,164 20,772
Other creditors 173,118 418,118
236,968 506,496

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 20,195 30,140
Obligations under finance leases and hire purchase contracts 19,887 29,552
40,082 59,692

The bank loans are secured against the assets of the company. The finance leases are secured against the assets to which they relate.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
finance leases entered into 0 10,374