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Barking Shopfronts Limited
Registered Number:03733591
For the year ended 31 March 2023
England and Wales
Report of the Directors and Unaudited Financial Statements
2
For the year ended 31 March 2023
Barking Shopfronts Limited
Contents Page
Company Information
1
2
Directors' Report
3
Independent Accountants' Report
4
Income Statement
5
Statement of Financial Position
6
Statement of Changes in Equity
7 to 9
Notes to the Financial Statements
3
For the year ended 31 March 2023
Barking Shopfronts Limited
Company Information
Randeep Singh Dhesi
Directors
Manjinder Singh Dhesi
Jaskaran Singh Dhesi
Jasbir Singh Dhesi
Company Secretary
03733591
Registered Number
Unit 1, Barking Industrial Park
Registered Office
Alfreds Way
Barking
Essex
IG11 0TJ
Mr P K R Chowdhury M Com FFA FIPA FAIA
Accountants
Chowdhury and Co
Financial Accountants
41 Highwood Gardens
Ilford
Greater London
IG5 0AZ
Barclays Bank Plc
Bankers
1 of 9
4
For the year ended 31 March 2023
Barking Shopfronts Limited
Directors' Report
The directors present their report and accounts for the year ended 31 March 2023.
Principal activities
The company continued its principal activity as a shopfitter.
Directors
The directors who served the company throughout the year were as follows:
Randeep Singh Dhesi
Manjinder Singh Dhesi
Jaskaran Singh Dhesi
Political and charitable donations
During the year the company made charitable donations in the sum of £3,907.00
Jaskaran Singh Dhesi
Signed on behalf of the board of directors
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Date:
22 November 2023
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5
For the year ended 31 March 2023
Barking Shopfronts Limited
Independent Accountants' Report
As described on the Statement of Financial Position you are responsible for the preparation of the financial statements
for the year ended 31 March 2023 and 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 information and explanations
supplied to us.
Chowdhury and Co
Mr P K R Chowdhury M Com FFA FIPA FAIA
Financial Accountants
41 Highwood Gardens
Ilford
Greater London
IG5 0AZ
Date:
20 November 2023
3 of 9
6
For the year ended 31 March 2023
Barking Shopfronts Limited
Income Statement
2022
£
2023
£
Notes
Turnover
4,723,157
4,369,882
(3,416,405)
Cost of sales
(3,521,979)
953,477
Gross profit
1,201,178
Administrative expenses
(1,002,517)
(923,884)
Other operating income
-
68,723
Operating profit
198,661
98,316
Other interest receivable and similar income
855
435
Interest payable and similar charges
(11,354)
(8,859)
188,162
89,892
Profit before taxation
(24,965)
7,161
Taxation
2
163,197
Profit for the financial year
97,053
4 of 9
7
Registered Number :
03733591
As at 31 March 2023
Barking Shopfronts Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
312,224
346,586
4
312,224
346,586
Current assets
Inventories
452,598
321,986
5
Trade and other receivables
817,633
784,373
6
143,893
Cash and cash equivalents
165,760
1,272,119
1,414,124
Trade and other payables: amounts falling due within one
year
(1,166,886)
(980,187)
7
247,238
291,932
Net current assets
Total assets less current liabilities
604,156
593,824
Trade and other payables: amounts falling due after more
than one year
(147,682)
(142,962)
8
461,194
Net assets
446,142
Capital and reserves
Called up share capital
100
100
Retained earnings
461,094
446,042
461,194
446,142
Shareholders' funds
For the year ended 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 of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Randeep Singh Dhesi
Manjinder Singh Dhesi
These financial statements were approved and authorised for issue by the Board on 22 November 2023 and were signed by:
The notes form part of these financial statements
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8
For the year ended 31 March 2023
Barking Shopfronts Limited
Statement of Changes in Equity
Share Capital
Retained
earnings
Total
£
£
£
Balance at 01 April 2021
100
348,989
349,089
97,053
97,053
Profit/Loss for the year
Balance at 31 March 2022 and 01 April 2022
446,142
446,042
100
163,197
163,197
Profit/Loss for the year
Dividends
(148,145)
(148,145)
Balance at 31 March 2023
100
461,094
461,194
6 of 9
9
For the year ended 31 March 2023
Barking Shopfronts Limited
Notes to the Financial Statements
Statutory Information
Barking Shopfronts Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03733591.
Registered address:
Unit 1, Barking Industrial Park
Alfreds Way
Barking
Essex
IG11 0TJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
25% Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
2. Taxation
2022
£
The taxation charge is based on the taxable profit for the year and
comprises:
£
2023
UK taxation
UK corporation tax
24,965
8,919
Over/under provision in prior year
-
(16,080)
Tax on profit on ordinary activities
24,965
(7,161)
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10
For the year ended 31 March 2023
Barking Shopfronts Limited
Notes to the Financial Statements Continued
3. Dividends
2022
2023
£
£
Dividend on equity instruments:
Paid in the year
(148,145)
-
4. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 April 2022
640,671
389,721
250,950
107,161
43,370
63,791
Additions
(154,789)
-
Disposals
(154,789)
At 31 March 2023
314,741
278,302
593,043
Provision for depreciation and impairment
At 01 April 2022
294,085
192,862
101,223
Charge for year
76,038
43,686
32,352
(89,304)
(89,304)
-
On disposal
At 31 March 2023
280,819
147,244
133,575
At 31 March 2023
Net book value
181,166
131,058
312,224
At 31 March 2022
149,727
196,859
346,586
5. Inventories
2022
2023
£
£
Stocks
321,986
452,598
6. Trade and other receivables
2022
2023
£
£
Trade debtors
541,291
536,419
Other debtors
243,082
281,214
817,633
784,373
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11
For the year ended 31 March 2023
Barking Shopfronts Limited
Notes to the Financial Statements Continued
7. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
10,000
44,077
Trade creditors
812,281
829,887
Taxation and social security
47,268
29,387
Other creditors
110,638
263,535
980,187
1,166,886
8. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
24,167
34,167
Other creditors
118,795
113,515
142,962
147,682
9. Average number of persons employed
During the year the average number of employees was 31 (2022 : 28)
9 of 9