2022-10-012023-09-302023-09-30false10361355B&R Bars 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B&R Bars Ltd

Registered Number
10361355
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

B&R Bars Ltd
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

Mr D Murphy

Registered Address

Unit 2 F-H Barlow Way Business Centre
9 Barlow Way, Fairview Industrial Estate
Rainham
RM13 8BT

Registered Number

10361355 (England and Wales)
B&R Bars Ltd
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets783,451110,565
83,451110,565
Current assets
Debtors12562,081426,941
Cash at bank and on hand13,44331,958
575,524458,899
Creditors amounts falling due within one year13(371,134)(258,974)
Net current assets (liabilities)204,390199,925
Total assets less current liabilities287,841310,490
Creditors amounts falling due after one year14(17,500)(40,577)
Provisions for liabilities16(16,022)(17,093)
Net assets254,319252,820
Capital and reserves
Called up share capital100100
Profit and loss account254,219252,720
Shareholders' funds254,319252,820
The financial statements were approved and authorised for issue by the Director on 4 March 2024, and are signed on its behalf by:
Mr D Murphy
Director
Registered Company No. 10361355
B&R Bars Ltd
Notes to the Financial Statements
for the year ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company continued to be that of building completion works.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
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 policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year1116
7.Property, plant and equipment

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 October 22246,66051,197297,857
Additions15,82470316,527
Disposals(15,824)-(15,824)
At 30 September 23246,66051,900298,560
Depreciation and impairment
At 01 October 22158,18729,105187,292
Charge for year22,1185,69927,817
At 30 September 23180,30534,804215,109
Net book value
At 30 September 2366,35517,09683,451
At 30 September 2288,47322,092110,565
8.Description of financial commitments other than capital commitments
Lloyds Bank PLC hold a debenture deed by way of a fixed and floating charge covering all money and liabilities owed to them dated 4 July 2019.
9.Description of nature of transactions and balances with related parties
Included within other debtors is £13,010 (2022 - £43,010) for an interest free loan owed by a company of which a director of this company is also a director and shareholder. Included within other creditors is £150,000 (2020 - £nil) for an interest free loan which is due to a company of which a director of this company is also a director and shareholder.
10.Directors advances, credits and guarantees
At the year end the director owed the company £3,786 (2022 - £3,194) by way of their current account.
11.Dividends proposed and payable

2023

2022

££
Dividends Paid31,00063,000
Total31,00063,000
Dividends totalling £15,500 (2022 £31,500) were paid in the year in respect of shares held by the company’s directors and are included within the amounts shown above.
12.Debtors

2023

2022

££
Trade debtors / trade receivables549,071332,373
Other debtors13,01067,005
Prepayments and accrued income-27,563
Total562,081426,941
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
13.Creditors within one year

2023

2022

££
Trade creditors / trade payables122,31381,942
Bank borrowings and overdrafts10,00010,000
Taxation and social security64,379113,222
Finance lease and HP contracts13,40842,997
Other creditors153,7894,766
Accrued liabilities and deferred income7,2456,047
Total371,134258,974
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
14.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts17,50027,500
Other creditors-13,077
Total17,50040,577
15.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts-13,077
The company's obligations under finance leases shown as due both within and after one year are secured against the asset to which they relate.
16.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)16,02217,093
Total16,02217,093