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REGISTERED NUMBER: 03787825 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Barnett Ratcliffe Partnership Limited

Barnett Ratcliffe Partnership Limited (Registered number: 03787825)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Barnett Ratcliffe Partnership Limited (Registered number: 03787825)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,874 5,166

CURRENT ASSETS
Stocks 59,500 47,860
Debtors 5 23,770 79,198
83,270 127,058
CREDITORS
Amounts falling due within one year 6 49,144 87,176
NET CURRENT ASSETS 34,126 39,882
TOTAL ASSETS LESS CURRENT LIABILITIES 38,000 45,048

CREDITORS
Amounts falling due after more than one year 7 (34,827 ) (40,079 )

PROVISIONS FOR LIABILITIES (878 ) (898 )
NET ASSETS 2,295 4,071

CAPITAL AND RESERVES
Called up share capital 80 80
Retained earnings 2,215 3,991
SHAREHOLDERS' FUNDS 2,295 4,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 January 2024 and were signed by:





Mr S A Lymer - Director


Barnett Ratcliffe Partnership Limited (Registered number: 03787825)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Barnett Ratcliffe Partnership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03787825

Registered office: The Old Library
41 Rowley Street
Stafford
Staffordshire
ST16 2RH

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of services, excluding value added tax. Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Barnett Ratcliffe Partnership Limited (Registered number: 03787825)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 June 2022
and 31 May 2023 12,714
DEPRECIATION
At 1 June 2022 7,548
Charge for year 1,292
At 31 May 2023 8,840
NET BOOK VALUE
At 31 May 2023 3,874
At 31 May 2022 5,166

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,913 69,424
Other debtors 17,857 9,774
23,770 79,198

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,657 27,590
Trade creditors 1,786 6,415
Taxation and social security 25,071 43,075
Other creditors 5,630 10,096
49,144 87,176

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 34,827 40,079

Barnett Ratcliffe Partnership Limited (Registered number: 03787825)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,366 18,170

8. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included within the balance sheet amount to £23,398 (2022 £39,729). This financial commitment represents the total amount of payments remaining on the lease.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr S A Lymer
Balance outstanding at start of year 5,162 5,380
Amounts advanced 49,705 6,333
Amounts repaid (49,656 ) (6,551 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,211 5,162