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Company registration number: 10627502
R & S Barleytwist Ltd
Unaudited filleted financial statements
28 February 2023
R & S Barleytwist Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
R & S Barleytwist Ltd
Directors and other information
Directors Mr Raymond Arthur Brooks
Mrs Sharon Andrea Brooks
Company number 10627502
Registered office Barley Twist Lodge
Dozens Bank
West Pinchbeck
Spalding
PE11 3NF
Business address Barley Twist Lodge
Dozens Bank
West Pinchbeck
Spalding
PE11 3NF
Accountants Lister & Co
75 High Street
Boston
Lincolnshire
PE21 8SX
R & S Barleytwist Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of R & S Barleytwist Ltd
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R & S Barleytwist Ltd for the year ended 28 February 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of R & S Barleytwist Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of R & S Barleytwist Ltd and state those matters that we have agreed to state to the board of directors of R & S Barleytwist Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R & S Barleytwist Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that R & S Barleytwist Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R & S Barleytwist Ltd. You consider that R & S Barleytwist Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of R & S Barleytwist Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lister & Co
ACCA
75 High Street
Boston
Lincolnshire
PE21 8SX
29 November 2023
R & S Barleytwist Ltd
Statement of financial position
28 February 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 4,738 6,188
_______ _______
4,738 6,188
Current assets
Debtors 6 12,000 18,250
Cash at bank and in hand 14,965 939
_______ _______
26,965 19,189
Creditors: amounts falling due
within one year 7 ( 12,712) ( 7,913)
_______ _______
Net current assets 14,253 11,276
_______ _______
Total assets less current liabilities 18,991 17,464
Provisions for liabilities ( 900) ( 1,175)
_______ _______
Net assets 18,091 16,289
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account 17,991 16,189
_______ _______
Shareholders funds 18,091 16,289
_______ _______
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge 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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:
Mr Raymond Arthur Brooks
Director
Company registration number: 10627502
R & S Barleytwist Ltd
Notes to the financial statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Barley Twist Lodge, Dozens Bank, West Pinchbeck, Spalding, PE11 3NF.
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 represents the amount receivable for goods sold and services rendered during the year net of value added tax.Revenue is recognised when the significant risks and rewards of ownership have transferred to the buyer and it is probable that associated economic benefits will flow to the company.
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
Motor vehicles - 25 % 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 March 2022 and 28 February 2023 1,088 17,988 19,076
_______ _______ _______
Depreciation
At 1 March 2022 117 12,771 12,888
Charge for the year 146 1,304 1,450
_______ _______ _______
At 28 February 2023 263 14,075 14,338
_______ _______ _______
Carrying amount
At 28 February 2023 825 3,913 4,738
_______ _______ _______
At 28 February 2022 971 5,217 6,188
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 12,000 18,250
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 1,820 1,480
Social security and other taxes 4,686 6,393
Director loan accounts 6,206 40
_______ _______
12,712 7,913
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary A shares of £ 1.00 each 50 50 50 50
Ordinary B shares of £ 1.00 each 50 50 50 50
_______ _______ _______ _______
100 100 100 100
_______ _______ _______ _______