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REGISTERED NUMBER: 04430155 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

K & D E BARNETT & SONS LIMITED

K & D E BARNETT & SONS LIMITED (REGISTERED NUMBER: 04430155)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K & D E BARNETT & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr DK Barnett
Mr LM Barnett





SECRETARY: Mr DK Barnett





REGISTERED OFFICE: Rearsby Business Park
Gaddesby Lane
Rearsby
Leicestershire
LE7 4YH





REGISTERED NUMBER: 04430155 (England and Wales)

K & D E BARNETT & SONS LIMITED (REGISTERED NUMBER: 04430155)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,138 116,073

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 5 2,053,403 1,945,211
Cash at bank 582,757 537,797
2,637,660 2,484,508
CREDITORS
Amounts falling due within one year 6 1,052,405 1,346,143
NET CURRENT ASSETS 1,585,255 1,138,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,675,393

1,254,438

CREDITORS
Amounts falling due after more than one
year

7

(84,010

)

(166,836

)

PROVISIONS FOR LIABILITIES (22,534 ) (22,054 )
NET ASSETS 1,568,849 1,065,548

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,568,749 1,065,448
SHAREHOLDERS' FUNDS 1,568,849 1,065,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

K & D E BARNETT & SONS LIMITED (REGISTERED NUMBER: 04430155)

BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:




Mr DK Barnett - Director



Mr LM Barnett - Director


K & D E BARNETT & SONS LIMITED (REGISTERED NUMBER: 04430155)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

K & D E Barnett & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services. It is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised in the period to which the work has been completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

K & D E BARNETT & SONS LIMITED (REGISTERED NUMBER: 04430155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Long term contracts
Turnover on uncompleted contracts is recognised where the outcome can be estimated reliably, contract income is recognised by reference to the stage of completion to the extent that services have been performed and work completed.

Performance is measured based on costs incurred to date as a percentage of total expected costs. An expected loss on a contract is recognised immediately.

Assets arising from recognition of revenue are recorded in debtors due within one year, initially as amounts recoverable on contracts and transferred to debtors when invoiced. Amounts received from customers for services not yet recognised as revenue are initially classified as payments received in advance on contracts within creditors.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

K & D E BARNETT & SONS LIMITED (REGISTERED NUMBER: 04430155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022 33,098 52,021 232,859 317,978
Additions - 2,678 - 2,678
At 30 June 2023 33,098 54,699 232,859 320,656
DEPRECIATION
At 1 July 2022 31,598 48,780 121,527 201,905
Charge for year 436 344 27,833 28,613
At 30 June 2023 32,034 49,124 149,360 230,518
NET BOOK VALUE
At 30 June 2023 1,064 5,575 83,499 90,138
At 30 June 2022 1,500 3,241 111,332 116,073

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022
and 30 June 2023 161,761
DEPRECIATION
At 1 July 2022 79,765
Charge for year 20,499
At 30 June 2023 100,264
NET BOOK VALUE
At 30 June 2023 61,497
At 30 June 2022 81,996

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 506,304 763,230
Amounts recoverable on contract 1,027,128 897,774
Other debtors 519,971 284,207
2,053,403 1,945,211

K & D E BARNETT & SONS LIMITED (REGISTERED NUMBER: 04430155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 73,003 73,000
Hire purchase contracts 8,666 12,497
Trade creditors 717,967 966,090
Taxation and social security 194,842 243,105
Other creditors 57,927 51,451
1,052,405 1,346,143

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 76,509 150,946
Hire purchase contracts 7,501 15,890
84,010 166,836

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 16,167 28,387

Hire purchase liabilities are secured on the assets to which they relate.

9. RELATED PARTY DISCLOSURES

At the year end, the company owed the Directors of the company £28,881 (2022: £26,965).

At the year end, the company was owed £379,929 from a company in which the Directors are also Directors.

No interest was charged on the above balances.