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REGISTERED NUMBER: 02833716 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

BARRY'S LOCKS LIMITED

BARRY'S LOCKS LIMITED (REGISTERED NUMBER: 02833716)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BARRY'S LOCKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Jack Whiting





REGISTERED OFFICE: 467 Rainham Road South
Dagenham
Essex
RM10 7XJ





REGISTERED NUMBER: 02833716 (England and Wales)





ACCOUNTANTS: Pickering Evennett Limited
467 Rainham Road South
Dagenham
Essex
RM10 7XJ

BARRY'S LOCKS LIMITED (REGISTERED NUMBER: 02833716)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,167 7,032

CURRENT ASSETS
Stocks 5 26,243 28,366
Debtors 6 134,451 177,609
Cash at bank and in hand 114,383 6
275,077 205,981
CREDITORS
Amounts falling due within one year 7 153,780 111,595
NET CURRENT ASSETS 121,297 94,386
TOTAL ASSETS LESS CURRENT
LIABILITIES

126,464

101,418

PROVISIONS FOR LIABILITIES 982 1,336
NET ASSETS 125,482 100,082

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 125,382 99,982
SHAREHOLDERS' FUNDS 125,482 100,082

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

BARRY'S LOCKS LIMITED (REGISTERED NUMBER: 02833716)

BALANCE SHEET - continued
31 JULY 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 director and authorised for issue on 16 April 2024 and were signed by:





Jack Whiting - Director


BARRY'S LOCKS LIMITED (REGISTERED NUMBER: 02833716)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Barry's Locks 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.

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.

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
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.

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.

BARRY'S LOCKS LIMITED (REGISTERED NUMBER: 02833716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 1,916 16,543 18,459
DEPRECIATION
At 1 August 2022 1,863 9,564 11,427
Charge for year 13 1,852 1,865
At 31 July 2023 1,876 11,416 13,292
NET BOOK VALUE
At 31 July 2023 40 5,127 5,167
At 31 July 2022 53 6,979 7,032

5. STOCKS
2023 2022
£    £   
Stocks 26,243 28,366

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 131,796 174,984
Other debtors 2,625 2,625
Prepayments 30 -
134,451 177,609

BARRY'S LOCKS LIMITED (REGISTERED NUMBER: 02833716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 356
Trade creditors 62,806 71,113
Tax 32,387 8,927
Social security and other taxes 5,844 3,103
VAT 34,774 18,379
Other creditors 3,304 2,755
Wages Account 8,000 -
Directors' current accounts 65 562
Accrued expenses 6,600 6,400
153,780 111,595

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Barry Whiting and Deborah Whiting
Balance outstanding at start of year (562 ) (17 )
Amounts advanced 83,073 67,080
Amounts repaid (82,511 ) (67,625 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (562 )

Jack Whiting
Balance outstanding at start of year - -
Amounts advanced 14,496 -
Amounts repaid (14,561 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (65 ) -

Dividends of £97,072 were credited to the directors loan account during the year.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr J. Whiting